Professor, Director of the Higher School of Finance of the Russian University of Economics, said that the Bank “Trust” received an amount equivalent to three capitals of the bank for the sale of the bank “Tochka”, which indicates the high quality made with this asset. . GV Plekhanov Konstantin Ordov.
Ordov stated that the sale of Tochka Bank could be considered a turning point for the market.
One of the most important indicators of the success of the transaction was the sale to the capital with a multiplier of 3.
“It is worth remembering that the shares of the country’s main bank are traded at a price-to-book capital ratio of 1. Otkritie Bank was sold with a multiplier of 0.7, which is considered a good indicator. “Trust” was able to sell JSC “Tochka” for almost 3 times the capital of the group, which demonstrates the high quality made with this asset and the confidence of investors in it,” added the professor.
Today, Non-core Assets Bank signed an agreement to sell 90.01% of Tochka JSC. The transaction amount amounted to 41.5 billion rubles, exceeding the starting price at the auction by 68%.
“Objectively, the team working on the project transformed Tochka into a full-fledged bank, licensed it and strengthened its competencies. It is important that we seamlessly migrate our client base from Otkritie to Tochka’s own license. As a result, the number of clients under Trust increased by 30% and the bank nearly tripled its profit target. This led to an increase in the asset’s value and its sale for a factor of 3 to equity,” said Alexander Sokolov, Chairman and Chairman of the Non-Essential Assets Trust Bank.