Основные направления совершенствования методологии оценки кредитоспособности заемщика

Size: px

Start display at page:

Download "Основные направления совершенствования методологии оценки кредитоспособности заемщика"

Cecily Alexander
5 years ago
Views:

1 УДК Основные направления совершенствования методологии оценки кредитоспособности заемщика Нефёдов Алексей Игоревич, бакалавр, экономист 1 категории, АО КБ «Хлынов», Киров, Россия. Аннотация. В данной статье рассматривается мировой опыт оценки кредитоспособности заемщика и предлагаются методы ее совершенствования. Ключевые слова: кредит заемщик платежеспособность The main directions of improving the methodology for assessing the creditworthiness of the borrower Nefedov Alexey Igorevich, bachelor, economist of 1 category, JSC KB "Khlynov", Kirov, Russia. Abstract. This article discusses the world experience in assessing the creditworthiness of the borrower and proposes methods of perfection. Keyword: loan borrower solvency To understand the positive and negative aspects of the domestic system of assessing the creditworthiness of the borrower, it is necessary to consider the experience of economically developed countries in this matter. In Russian banking practice, the creditworthiness of an enterprise is understood as the borrower's ability to fully and timely pay off its debt obligations (principal and interest). In Western banking practice, creditworthiness is interpreted as a desire, coupled with the ability to repay the issued obligation in a timely manner. First, let's look at the creditworthiness indicators used by the banks of the United States of America - the most economically developed country in the world.

2 A number of American economists describe a credit rating system based on balance sheets. American banks use four groups of key indicators: 1) the firm's liquidity; 2) capital turnover; 3) raising funds; 4) profitability indicators. The first group includes liquidity ratio (KL) and coverage ratio (KP). The liquidity ratio predicts the borrower's ability to repay the debt to the Bank promptly in the short term on the basis of an assessment of the working capital structure. The higher the liquidity ratio, the higher the creditworthiness. Coverage ratio-shows the limit of lending, the adequacy of all types of customer funds to repay the debt. If the coverage ratio is less than 1, then the boundaries of lending are violated, the borrower can no longer provide a loan: it is non-creditworthy. The capital turnover indicators of the second group reflect the quality of current assets and can be used to estimate the growth of the coverage ratio. The coefficients of attraction (Krill) form the third group of estimates. They are calculated as the ratio of all debt to total assets or fixed capital, show the dependence of the firm on borrowed funds. The higher the leverage ratio,the worse the borrower's creditworthiness. The third group of indicators is closely related to the indicators of the fourth group, characterizing the profitability of the company. These include: the share of profit in income, the rate of return on assets, the rate of return per share. Also in the practice of us banks apply the "rules of six si", in which the criteria for the selection of customers are indicated by the words beginning with the letters"c". 1) character (the character of the borrower); 2) capacity (financial capacity); 3) capital (capital, property); 4) collateral (assurance);

3 5) conditions (General economic conditions). In order to obtain data for the above-mentioned methods, the Bank, of course, will need information characterizing the financial condition of the company. This causes the necessity to study financial reports, the possibility of occurrence of unforeseen circumstances and the situation with insurance. Sources of information about the creditworthiness of the borrower can be: 1) results of negotiations with the borrower; 2) on-site inspection; 3) analysis of financial statements; 4) external sources. For example, in world practice, the most well - known source of data on creditworthiness is the firm "Dunn & Bradstreet", which collects information about 3 million firms in the US and Canada and provides it by subscription. Brief information and assessments of the creditworthiness of each firm are published in national and regional directories. More detailed information about individual firms is reported in the form of financial statements, the most common of which is "information about the business enterprise", and one of the most useful "Report on key financial items" contains much more detailed information about the company. In addition to Dan & Bradstreet, there are several credit bureaus called special commercial agencies, but they are generally limited to one industry or activity. Sometimes banks verify their information with the data of other banks that had a relationship with the applicant of the loan application. They can also check the data from various suppliers and buyers of the company, some banks even turn to competitors of the company. This reconciliation of information with the firm's counterparties and other banks also reveals the reputation and capabilities of the firm applying for a loan and its executives. Another source of information is the "credit information exchange Service" of the national credit management Association, an organization that provides information on loans received by the firm from suppliers throughout the country. Members of the

4 organization receive an answer to the question: how neatly pays the firm? However, the information contains only facts, but no analysis, explanation or recommendations. American corporations (in particular, Dan & Bradstreet) expect to enter the Russian market and offer the following services to Russian commercial banks: 1) business reference for a separate company with its rating on the basis of assessment of the financial situation, payment practices, compliance with other ethical standards of business, analysis of arbitration cases with its participation, etc.; 2) marketing research in the regional and sectoral context; 3) country guides with full overview of economic situation, customs, currency regulation, payment terms and arbitration; 4) industry, regional and special reference books. It is assumed that commercial banks in Russia, wishing to obtain information about their customers, will be able through the appropriate telecommunications network directly access the database of the Corporation and in a matter of seconds to obtain information of interest to them about the financial condition of the potential borrower. The problem is that businesses and client organizations of commercial banks are unwilling to provide information about themselves, which makes it very difficult to collect the necessary information. In the West, the refusal to provide such information is an important indicator that characterizes the company from a negative side. In General, the process of creating credit bureaus in Russia is already active, the law on credit bureaus came into force on September 1, 2005.but there is no information on all enterprises, as enterprises are afraid to provide data on their economic activities and as long as they are afraid of credit risks in Russia will be still very high. Next, we consider the credit assessment of commercial banks in France-one of the most developed European countries. Credit rating of clients by French commercial banks includes 3 blocks: 1. Assessment of the company and analysis of its balance sheet and other reporting;

5 2. Assessment of customer creditworthiness based on methods adopted by individual commercial banks; 3. Use of the Bank of France card file to assess the creditworthiness of the data. In assessing the company, the Bank is interested in the following issues: 1. The nature of the activities of the enterprise and the duration of its operation; 2. Factor of production: 3. Workforce of managers, managers and personnel; 4. Production resources (the ratio of depreciation and amortization, the level of investment); 5. Financial resources; 6. Economic environment. In the asset balance in the analysis are three components: 1) immobilized assets, 2) current assets (stocks, debtors, other); 3) cash (cash, money in a Bank account, securities). The liability of the balance sheet is divided into fixed resources, accounts payable and cash. Balance sheet and other reporting forms are used, first, for the ratio balance indicators and secondly, for the calculation of the coefficients of credit on the basis of working performance. As one of the variants of the private method of assessing the creditworthiness of the client by a commercial Bank, we can cite the method of the Bank Credit Lione. This technique is a system of evaluation based on 5 coefficients:

6 Indicator Formula method of determination Sales proceeds (В) В= bi * pi The sum of all sales, where bi- is the unit of production, pi- is the price of production Gross commercial Sales revenue - Value of purchased inventory GI = В - С income (GI) and finished products Added value (AV) AV = OC - Р э OC - Operating costs Gross operating income (GOI) GOI = DS - Р - Н- Р DS - Salary costs-payroll Taxes-vacation Pay GOS - Payment of interest on credit + Gross operating result GOS = GI - Кр + Д От Income from investments in other (GOS) enterprises-deductions to the risk Fund Table 1. Performance indicators of the company required to assess its creditworthiness Each of the indicators is estimated within four points, the total in points is determined. The amount of points determines the level of creditworthiness of the client. Thus, the existing methods of assessing the creditworthiness of the borrower by commercial banks of economically developed countries have positive aspects. But the Russian assessment of the borrower's creditworthiness does not lag behind and complies with international standards. But still it is worth paying attention to the Russian commercial banks to the above methods and partially apply them in practice, in particular: 1) the analysis of financial ratios according to the American method allows a more complete assessment of the financial condition of the potential borrower from the point of view of the external user of the information, such indicators as the profitability of the company, which to some extent are able to compensate for the dependence of the enterprise on borrowed funds; 2) assessment of the creditworthiness of the borrower by the method of French banks gives an idea of indicators that are not quantifiable, but are important for the credit expert of a commercial Bank, and a significant role is given to the rating. The most serious approach to the classification of the borrower in the French methodology. In the case of American banks, everything is systematized, and all

7 information about the borrower can be found in catalogs that are published every month. In the Russian lending is not all systematized, there are many shortcomings. A comprehensive approach is needed to address the issue of improving the work of credit bureaus in Russia. With the help of credit bureaus information about the borrower will be available, high-quality and convenient. In conclusion, I would like to emphasize once again the great practical importance of the topic of this course work. We found out that the creditworthiness of the company is understood as the ability of the borrower to fully and on time to pay off its debt obligations, that is, the principal debt and interest. The main tasks of the enterprise creditworthiness analysis and the coefficients used in determining the financial position of the borrower were considered. It was also found that the analysis of the company's creditworthiness includes a number of methods: 1) method of collecting information about the client; 2) based on financial ratios; 3) based on cash flow; 4) based on business risk indicators; 5) method of rating (point) assessment; 6) method of evaluation of credit risk; 7) monitoring the work of the client. Of the main methods listed above, shortcomings and advantages were identified. As a result of the adoption of Regulation No. 254-P "on the procedure for the formation of reserves by credit institutions for possible losses on loans, on loan and equivalent debts", in General, the procedure for creating a reserve becomes more flexible, convenient and profitable for the Bank. It was found that the financial condition of the borrower is good, the results in the calculation of financial indicators are positive, as a result, there is a sufficient

8 probability that the borrower will repay the loan on time, in a timely manner and in full will service the loan debt. In General, the methodology of Sberbank of Russia meets modern requirements. The main advantages of this technique is the analysis of the market on which the borrower operates, the calculation of the main financial indicators, also qualitatively assesses the state of accounts receivable and payable. But there were some shortcomings in this methodology, namely the fact that Sberbank of Russia did not use rating assessment in its methodology, and very little attention was paid to collateral. These disadvantages are eliminated, and the technique was perfected. Credit risks play an important role in the banking market, which are the basis of banking, and their management is traditionally considered the main problem of the theory and practice of banking management. It should be noted that, at present, the most common tool to limit the negative effects of credit risk is compliance with economic standards of banking activities. To understand the positive and negative aspects of the domestic system of assessing the creditworthiness of the borrower was considered the experience of economically developed countries, namely the experience of banks in France and America. And it was found that the Russian assessment of the borrower's creditworthiness does not lag behind and meets international standards. However, Russian commercial banks should pay attention to the methods of foreign countries and partially apply them in practice. In my opinion, there is a certain question, the formulation of which in the country can help to solve the problem of credit risks. In our country, there is no well-established system for collecting information about the creditworthiness of customers, as well as information about the loans received and not repaid by them. An integrated approach to solving this problem with the involvement of legislative bodies is needed in order to create a systematic system of specialized agencies for assessing the creditworthiness of enterprises. With the help of credit bureaus information about the borrower will be available, high-quality and convenient.

9 List of sources used: 1. Regulation No. 254-P "on the procedure for the formation by credit institutions of reserves for possible losses on loans, on loan and equated debt".// Bulletin of the Bank of Russia 28 (752), may 7, p Instruction of the Central Bank of Russia No. 110-I dated G.//Bulletin of the Bank of Russia No. 11 (735), 11 February p Banks and banking: textbook for universities / ed. Balabanova AI-ed. with ISM. - Moscow: Unity, p. 4. Banking: the textbook/under the editorship of G. N Beloglazova, L. P. Kroleveckiy. - 5th ed., pererab. I DOP. - M.: Finance and statistics; p.: Il.

EURASIAN JOURNAL OF BUSINESS AND MANAGEMENT

Eurasian Journal of Business and Management, 3(3), 2015, 37-42 DOI: 10.15604/ejbm.2015.03.03.005 EURASIAN JOURNAL OF BUSINESS AND MANAGEMENT http://www.eurasianpublications.com MODEL COMPREHENSIVE RISK