Bank "Russian Standard": reviews of employees, investors
Bank “Russian Standard”, reviews of which were not always the best, is a universal financial institution with the main strategic goal of a financial institution - is the transformation of activities related to traditional consumer lending into an innovative structure of a high-tech bank. This includes optimization of operating expenses, increase in efficiency, and rational risk management. The Institute has always strived to keep up with the times, satisfying the needs of each client. The result of the work done was still the rebranding of the latter and a complete change of leadership, which, frankly, was good.
Leader in consumer lending
Bank "Russian Standard", the depositors' reviews about which are often negative, can be safely called the leader in consumer lending. The provision of loans is carried out to almost all individuals.At the same time, a certificate of income and guarantors are not mandatory conditions for partnership. Financial institution services are offered not only in official representative offices, but also in retail chains that are partners of a financial institution. As practice has shown, people gladly agree to a partnership, not paying attention to the percentage rate, which, by the way, is one of the highest in the market. There is only a psychological factor. People see the goods they are interested in and at the same time the opportunity to receive them with minimal expenditure of funds and a small amount of time spent. The scheme operates flawlessly, both in Russia and in Ukraine. According to the clients of the institution, goods purchased on credit are two or even more times higher than their primary value. This scheme of work is not new for the financial market, it is actively practiced by many financial institutions. It is consumer crediting that is the main activity of the institute, and the line of products and offers is constantly expanding in this segment.
The Russian Standard Bank, reviews of which can be found both good and bad, was founded on the territory of Russia in 1993. Already in the middle of 2006, a financial institution became the owner of a Limited Liability Company in Ukraine called “AIS-Bank”. His successors, in the same 2006, in Russia became Russian Standard LLC. In 2008, there was a reorganization of the enterprise. LLC has become a closed joint stock company (JSC). The next reorganization of the financial institution took place in 2010. OJSC since that time is called Public Joint-Stock Company (PJSC). By January 1, 2010, the size of the bank's assets corresponded to UAH 199.3 million. The official license was issued to a financial institution in Ukraine on February 17, 2010. Russian Standard Bank, the feedback from depositors about which is often negative, has been acting as an Associate Member of the international payment system VISA International since 2006. Since 2007, the institution has the status of Principal Member of another, but no less significant, payment system called MasterCard Worldwide. Since 2006, the financial institution has been participating in the Guaranteed Deposits Fund.A superficial look at the history of the Ukrainian financial institution leads to the conclusion that it has a good reputation and is distinguished by reliability, since it is approved by the world's largest financial systems as a partner.
Management and Services
The Russian Standard Bank, reviews of which make one think about the rationality of partnership with a financial institution, operates under the direction of the General Meeting of Participants, the Supervisory Board and the Board of the bank itself. At the head of the governing apparatus is the General Meeting of Participants. Control over the financial and economic activities of the institution belongs to the Audit Commission. The operational control body of the Supervisory Board is the Internal Audit Department. The complex hierarchical management structure does not prevent the financial institution from providing a wide range of services. Individuals can use the following features:
- A wide selection of programs for deposits.
- Registration of loans and credit cards.
- Opening and further maintenance of accounts.
- Issue and supervise bank cards for making payments.
- Issue, purchase and sale of bills of exchange and checks, negotiable documents, other papers.
- Mobile Bank allows you to make transactions and manage your accounts from a computer, phone or PDA.
Legal entities can take advantage of one of the following offers:
- Payroll employees of a particular company on a special card.
- Managing accounts from the company's office with participation in the Client-Bank system.
The product line was developed, though with a focus on consumer lending, but its diversity allows us to satisfy numerous customer requests. It is worth saying that all the features of the partnership are detailed in the contracts. In order not to face a low deposit rate or high interest rates in the future, the documents should be carefully studied. Let us pay attention to the fact that the simpler the scheme for obtaining a loan is, the higher its percentage. Such financial policy of the bank ensures minimization of risks associated with non-payment.
Possible reasons for the decrease in liquidity of the Russian Standard
The popularity of loans from Russian Standard Bank grew at an incredibly high rate, the number of borrowers was increasing daily. The financial institution had no equal in the number of loans issued.Financing of purchases in large stores was accompanied by the distribution of credit cards by mail, which could be activated over the telephone. Russian Standard has always been not very attentive to the assessment of the solvency of its debtors, which led to the emergence of a huge number of bad loans. Cash issued no more than 15 thousand hryvnia for a period of 6 months to 36. The borrower needed to provide only a passport and a certificate of income. It is worth saying that in some partner shopping centers, they did not even require a certificate, limited to the words of the borrower and passport. The loan rate at that time was only 0.01%, while the commission for using funds ranged from 2.99% to 3.5% per month, which ranged from 36% to 42% per year. In case of late payment, a penalty was charged in the amount of 0.2% of the debt amount or 25% monthly of the same amount. The number of issued and returned loans was significantly less than the outstanding. A high percentage could not cover bad debts. The policy of the financial institution and became the cause of its reconstruction.
Rebranding Russian Standard
As part of the program for the strategic development of financial institutions in Ukraine, Russian Standard Bank, the feedback from its employees is always positive, conducted a comprehensive rebranding. The corporate name of the financial institution now sounds like “Forward Bank”. PJSC "Russian Standard" - a bank whose customers cast doubts on the aspect of cooperation efficiency, belongs to the group of companies "Russian Standard", which occupies a leading position in the Russian financial market, in the provision of banking services and in the industry of creating and developing trademarks of the class " premium. " Representative offices of the Institute throughout Ukraine, as well as about 3,700 points for the sale of banking products in 250 cities, were completely re-registered. The client base of PJSC, which is at least 500 thousand retail customers, is now getting used to the new name. The promotion of a new brand is currently limited to only 97 bank branches in Ukraine and 27 ATMs throughout the country. As you know, just before the rebranding procedure itself, Russian Standard experienced some difficulties with liquidity.Over the last quarter of his work, he showed negative results on income. Depositors face difficulties in withdrawing funds. To the general surprise, after renaming and complex structuring of a financial institution, it began to fulfill all the obligations of a successor. After the outflow of depositors' funds in the amount of UAH 600 million at the end of 2014, the financial institution showed an increase in deposits in the amount of about 250 million.
Resentment from the customers of the Russian Standard
Russian Standard Bank, reviews of which have a negative connotation, has always offered an overestimated interest rate not only on loans, but also on credit cards. Many customers of the institution are indignant about the fact that they have to pay quite large sums for using the funds. This policy of the institute is determined by the main field of activity - consumer lending. The almost complete lack of requirements in terms of documents when concluding a partnership agreement is explained by high rates. At the same time, there is no secret from the institution that is of little advantage for the financial policy of the institution.Bank “Russian Standard”, the reviews of which are not always the best, does not hide anything. All terms of the partnership are spelled out in the contract, and each client puts his or her signature in agreement with the terms of the loan. The problem of people is that they are not accustomed to reading long agreements, studying the conditions for granting loans. Further, indignation and misunderstanding between the parties arise. You can say about the high percentage when withdrawing cash. Customers who cashed their deposits and transferred them to bank cards, faced with quite high fees when withdrawing funds from an ATM. Complaints and requests to cancel the operation, the support service responded very quickly. These issues, though not resolved instantly, but are accepted by the administration for consideration.
Investors are happy
"Forward", and earlier "Russian Standard" - a bank, deposits (reviews of which are very positive) today offering on favorable terms. Moreover, investors do not have claims in terms of the payment of deposits. The accrual of funds on deposits is carried out strictly according to the regulations and in accordance with the terms of the contract, which is a very significant advantage against the background of a difficult economic situation and with a huge number of bankruptcies.On the reliability of financial institutions speak and statistics. In the period from January to February 2015, the net profit of the institute amounted to 829.1 thousand hryvnia. At the same time, profit growth in February was one and a half times higher than in January. The portfolio of individuals has been saved. "Forward" - the bank ("Russian Standard"), reviews of which leave almost all customers. It operates in accordance with the regulations of the NBU in terms of capital adequacy. The institution is characterized by a high liquidity ratio, which has become a real problem for many financial institutions in the country. As of March 1, 2015, the assets of the institute amounted to UAH 2,174.673 million. Regulatory capital reached a level of 557.8 million hryvnia. The authorized capital is equal to 283 million hryvnia, the loan portfolio amounted to 2,007.2 million hryvnia, the funds of individuals practically did not decrease and are equal to 895.5 million hryvnia. It is worth saying that the national agency IBI-Rating assigned the institution the highest level of reliability “5+” on deposits. According to the results of the work, the travel agency “Russian Standard”, whose reviews are twofold, became a member of the TOP-15 rating in terms of the reliability of deposits over the last three quarters of 2014.
What do the staff say?
Today, the Russian Standard Bank, the staff reviews of which are mostly positive, are not only the most reliable financial institution in Ukraine for making deposits, but also one of the best employers in the country. It is worth saying that in the well-known domestic rating “Capital 500. The Best Employers of Ukraine 2014”, the institute got a place in the TOP-150. Many bank employees talk about good working conditions, respect from management and decent wages. We can not miss the attention of the official employment and the full social package. Russian Standard Bank (St. Petersburg), of which there are only positive reviews in Russia, is trying to provide its employees with good working conditions, thereby ensuring customer loyalty. Satisfied representatives of a financial institution, consultants, cashiers and operators, treat all customers politely and with respect. The subtle approach of the management to their subordinates ensures not only a good reputation of the establishment, but also a high level of service. There are complaints from the side of debtors, which testify to the incorrect treatment of bank employees.It is difficult to determine whether this is true or simply rude anti-advertising, since defaulters look at the situation from their side. We can only say one thing: today Forward offers vacancies much more attractive than Russian Standard Bank has previously provided. The work, reviews of which are positive, are in demand in the market and attracts only professional staff who do their job well and provide a European level of service.
Radical transformation, or wonders of the new leadership
Bank "Russian Standard", reviews of debtors about which are very disappointing, before the start of rebranding showed far from the best results. The first is a large number of complaints from customers, among which are inappropriate employee attitudes, refusal to issue deposits and rudeness. In particular, there were comments regarding violations of the law. One of the clients even prepared an application for a loan, as his brother, due to excessive pressure in the aspect of paying off the minimum debt, went to the hospital with a heart attack.True or not, the presence of such comments is very large. People complain about constant phone calls, which do not arrive at the numbers of the borrowers themselves, but at the numbers of relatives and friends at a later time. The reputation of a financial institution in Ukraine leaves much to be desired. Russian Standard Bank (Moscow) has more positive reviews. Nonetheless, one can see resentment at the poor servicing of loans and credit cards, as well as gratitude for the simplified loan issuance scheme. The two sides of the coin make it difficult to objectively assess the actual state of affairs. After the “Forward” bank replaced the Russian Standard Bank, the feedback from depositors in a negative way ceased to appear on the network. The new leadership of the financial institution brought the service to a high level. This is confirmed not only by satisfied customers, but also by a place in the TOP-15 among the banks with the best management of their reputation.
What problems were solved after the rebranding?
After the rebranding and change of leadership in Ukraine, the Bank “Russian Standard”, feedback from employees and customers about which often contained negative information, completely restructured its work.Problems such as customer access to information, which just a couple of years ago was impossible, were solved. Were solved problems with liquidity and low level of service. Today, Forward, and yesterday, Russian Standard, offers the most profitable interest on deposits in the financial market of Ukraine. The interest rate can range from 17.5% to 26.5% on deposits in the national currency. Fixed income is determined depending on the conditions and duration of the deposit. Deposits in dollars are available with a rate from 2.75% to 11.5%, and in euros - from 1.75% to 11%. Bank Forward is a financial institution that has gone far ahead of its predecessor, well known as Russian Standard Bank. Rating, reviews of economists which is positive and which is calculated by independent experts, confirms the information and speaks about the professionalism of the management of the modernized institution. As for the media, the new look of the Standard is always spoken in a positive way. The institution continues to actively develop in the direction of consumer lending, actively introducing innovative proposals and updated technological solutions into its activities.The terms of the partnership have become more profitable, despite the fact that the main priorities in the work remain the same.