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Сберегательный банк РФ является мощным центром кредитно-расчетного обслуживания предприятий и населения. Он является лидером в стране по рентабельности капитала и доходности для акционеров, также привержен высоким стандартам корпоративного управления, строящий свою работу на принципах открытости, прозрачности и предсказуемости. На основе анализа кредитов юридических лиц ПАО Сбербанка, можно сделать вывод о том, что кредиты юридических лиц, занимают значительную долю в кредитной системе, это свидетельствует о развитии и поддержке молодых предпринимателей, расширении экономики и инфраструктуры. Банки должны уделять должное внимание проектному финансированию юридических лиц с целью привлечения новых партнеров и клиентов. Учитывая отсутствие стабильного финансового положения предприятий, банк должен определить наиболее устойчивый способ предоставления кредитов путем анализа иерархий на основе экспертных оценок. Эти меры позволят банку обеспечить надежную клиентскую базу и улучшить организацию кредитования юридических лиц. Так как Сберегательный банк является коммерческим банком, он обладает основными критериями такого банка. Во многих банках, на сегодняшний день, кредитование занимает наибольшую долю доходов банков. В первую очередь это связано с нестабильной экономической обстановкой в мире, в связи с чем происходит рост кредитных рисков. Поэтому, на сегодняшний день, тема кредитования юридических лиц является наиболее актуальной., The Savings Bank of the Russian Federation is a powerful center for credit and settlement services for enterprises and the population. He is a leader in the country in terms of return on equity and profitability for shareholders, and is also committed to high standards of corporate governance, based on the principles of openness, transparency and predictability. Based on the analysis of loans to legal entities of Sberbank, we can conclude that loans to legal entities occupy a significant share in the credit system, which indicates the development and support of young entrepreneurs, the expansion of the economy and infrastructure. Banks should pay due attention to project financing of legal entities in order to attract new partners and clients. Given the lack of stable financial position of enterprises, the Bank should determine the most sustainable way to provide loans by analyzing hierarchies based on expert assessments. These measures will allow the Bank to provide a reliable customer base and improve the organization of lending to legal entities. In many banks, today, lending accounts for the largest share of banks' income. First of all, this is due to the unstable economic situation in the world, in connection with which there is an increase in credit risks. Therefore, today, the topic of lending to legal entities is the most relevant.

Кредитування є основним видом діяльності банку. При цьому кредитування, за своєю суттю, пов'язане з великою кількістю різноманітних ризиків, насамперед з ризиком неповернення виданих коштів. Наявність цих ризиків спонукає керівництво банку до перегляду існуючої кредитної політики. У свою чергу, для якісного відбору позичальників, необхідно кількісно визначити можливі збитки, і одним із популярних підходів є класифікація позичальників. Процес відбору та класифікації позичальників називається кредитним скорингом. Lending is the main activity of the bank. At the same time, lending, in its essence, is associated with many different risks, primarily with the risk of non-return of the issued funds. The presence of these risks prompts the bank's management to revise the existing lending policies. In turn, for the qualitative selection of borrowers, it is necessary to quantify the possible losses, and one of the popular approaches is the classification of borrowers. The process of selecting and classifying borrowers is called credit scoring.

Der Immobilienmarkt ist stark von den zur Verfügung stehenden Finanzierungsmöglichkeiten abhängig. Banken unterliegen wiederum bestimmten regulatorischen Rahmenbedingungen, welche die Kreditvergabe an den Immobiliensektor in einer gewissen Weise beeinflussen. Da der Immobilienkreditbereich leidglich einen selektiven Querschnitt aus dem Bankgeschäft darstellt, sind auch die Regelungen zu Immobilienkrediten nicht in einem einheitlichen Immobilien-Standard geregelt. Vielmehr finden sich rechtliche Regelungen mit Immobilienbezug in vielen unterschiedlichen Vorschriften rund um das Kredit(risiko)management. Die vorliegende Arbeit trägt daher die wesentlichen bankenregulatorischen Vorgaben zu Immobilienfinanzierungen zusammen. Sie zeigt weiters auf, über welche Transmissionskanäle – und in welcher Weise - die Bankenregulierung sich auf Immobilienfinanzierungen auswirken kann. Regulierung geht per Definition mit Einschränkungen einher, die auf eine Finanzmarktstabilisierung abzielen. Die Analyse der Regularien zeigt dabei, dass Risikopositionen überwiegend eine begünstigtere Behandlung erfahren, wenn ein Immobilien-Kontext besteht. Dies trifft insbesondere auf Wohnimmobilien zu. Banken haben aber nicht nur einen Anreiz, verstärkt immobilienbesicherte Forderungen zu begeben, sondern gleichzeitig auch in risikoärmere Geschäfte zu investieren – die neuen Regelungen nach Basel bringen hier zusätzlich eine stärkere Risikosensitivität in Abhängigkeit der Beleihungsquote mit sich. Andere Maßnahmen, wie die Begrenzung der Haltedauer von in Besitz genommenen Immobiliensicherheiten oder das Veröffentlichen von Meldedaten und Preisindizes erhöhen das Angebot, die Liquidität und die Transparenz auf dem Immobilienmarkt. Dies erhöht die Markt(preis)transparenz und kann einen drückenden Effekt auf die Preise entfalten. Darüber hinaus wurden aufsichtliche Erwartungshaltungen hinsichtlich einer nachhaltigen Kreditvergabepolitik veröffentlicht, die den Aufbau neuer Risiken verhindern sollen und einen Rahmen für die Kreditvergabepraktiken der Banken darstellen.

International Financial Reporting Standard 9 (IFRS 9) introduced new principles of classification and measurement of financial instruments, financial assets impairment management, and hedging accounting. In initial recognition and accounting classification of financial assets in amortized costs category, fair value through other comprehensive income, or fair value through profit or loss, IFRS 9 implemented new solely payments of principal and interest (SPPI) test and related benchmark test. Bank landing policy has to take in consideration the IFRS 9 principles of initial recognition of loan contract. In case that the loan contract has terms that give cash flows like solely payments of principal and interest, than the financial assets is consistent with the base landing agreement and can be measured by amortized costs. Otherwise, the loan has to be fair valued with influence on bank structural risk position. Bank landing policy has to be adjusted with banking book management to avoid structural risk hedging costs. If contractual cash flows are not solely payments of principal and interest it is necessary to make a business model test. Business lines in banking firm have to be introduced to IFRS 9 request in product supply definition that is in compliance with bank risk policy.

У роботі визначено теоретичні основи та науково-методичні рекомендації щодо удосконалення формування кредитної політики банків України. За результатами дослідження сформовано рекомендації щодо удосконалення механізму формування кредитної політики банку, зокрема, шляхом розробки та впровадження гнучкої системи визначення умов кредитування на основі прогнозування кредитоспроможності позичальника. В работе определены теоретические основы и сформированы научно-методические рекомендации по совершенствованию формирования кредитной политики банков Украины. Автором разработаны рекомендации по совершенствованию механизма формирования кредитной политики банка, в частности, путем разработки и внедрения гибкой системы определения условий кредитования на основе прогнозирования кредитоспособности заемщика. The work identifies the theoretical foundations and formulated scientific and methodological recommendations for improving the formation of the lending policy of the banks of Ukraine. The author has developed recommendations for improving the mechanism for formulating a bank’s lending policy, in particular, through the development and implementation of a flexible system for determining credit conditions based on forecasting the borrower's creditworthiness.

RESUMEN: El Banco Europeo de Inversiones es la institución financiera de la UE por excelencia. Además de haber jugado un rol fundamental en el proceso de integración europea, el Banco se ha convertido en uno de los prestamistas multilaterales más importantes del mundo. Sin embargo, se trata de una de las instituciones más descuidadas en lo que respecta a estudio académico. El objetivo de este trabajo es arrojar algo de luz sobre el modus operandi del Banco, centrando especialmente el foco en su política crediticia. Con el propósito de tratar de dilucidar cuáles son los motivos detrás de la política de asignación de préstamos del Banco, se han construido índices de riesgo país para cada uno de los Estados Miembros de la UE. El período seleccionado ha sido 1995-2015 y ‘deuda pública’, ‘déficit público’, ‘tipos de interés’, ‘desempleo’ y ‘corrupción’ las variables consideradas de interés para el estudio. Existe una amplia gama de técnicas para la realización de un análisis de riesgo país y, dado que no existe consenso entre académicos con respecto a cuál debe ser la metodología más apropiada a emplear, la selección del método o las técnicas depende de las preferencias y el juicio del investigador. Para este trabajo, se ha seleccionado un ‘método de lista de verificación ponderada’, el cual consiste en evaluar el nivel de riesgo país de un Estado basándose en el desempeño presentado por el mismo en cada una de las variables seleccionadas, siendo la puntuación final la obtenida de la suma de todos los valores presentados en cada una de ellas. Además, las variables se han agrupado en subíndices con el fin de facilitar el análisis y la clasificación de los países. Un problema al que se enfrentan los investigadores cuando miden el riesgo país es la falta de homogeneidad en la base de datos. La mayoría de las variables suelen ir expresadas en diferentes escalas y, por tanto, es necesario realizar algún proceso de normalización de los datos. Los resultados obtenidos en el análisis muestran la existencia de una correlación lineal positiva entre las dos variables estudiadas. Esto implica que, para el período 1995-2015, cuanto mayor fue el nivel de riesgo país que presentó un Estado Miembro, mayor cantidad de préstamos recibió del BEI. A pesar de la existencia de algunas excepciones, esta afirmación puede considerarse como una tendencia general, la cual, no obstante, era más fuerte al principio del periodo, pero ha perdido fuerza en los últimos años. ABSTRACT: The European Investment Bank is the EU’s financial institution par excellence. Apart from having played a fundamental role in the process of European integration, the Bank has become one of the most important multilateral lenders in the world. Nevertheless, it is one of the most neglected institutions when it comes to academic work. The objective of this dissertation is to shed some light on the Bank’s modus operandi, focusing primarily on its lending policy. With the purpose of trying to elucidate what are the motives behind the Bank’s policy of allocation of loans, country risk indices for each EU Member State have been constructed. The period selected has been 1995-2015 and ‘general government gross debt’, ‘general government deficit/surplus’, ‘interest rates’, ‘unemployment’ and ‘corruption’ have been the variables considered of interest for the study. There exists a wide range of techniques for the analysis of country risk and, since there is no consensus among scholars on which is the most appropriate methodology, the selection of the method or technique depends on the researcher’s judgement. For this dissertation, there has been chosen a ‘weighted checklist method’, which consists in assessing a country’s CR level basing on the nation’s performance in each of the selected variables, being the final score the sum of all the values obtained in each of them. Sub-indices for easing the analysis and the classification of countries have been created as well. One difficulty researchers have to face when constructing CR indices is the lack of homogeneity in the database. Most of the variables are expressed in different scales, thus a normalisation process is required. The results obtained from the analysis show the existence of a positive linear correlation between the two variables studied. This implies that, for the period 1995-2015, the higher the CR level a EU Member State had, the higher the amount of EIB loans it received. Despite the existence of some exceptions, this assertion could be considered as a general tendency which, however, was stronger at the beginning of the period, but did lose momentum in recent years. Grado en Economía

Usage of outputs from credit scoring models within decision-making process is often neglected in the existing literature. Nonetheless, it is a critical component of a successful lending process. This thesis introduces the concept of credit scoring and discusses steps typically employed within model development process. This thesis then provides an overview of how modeling outputs are typically used in lending. The thesis primarily focuses on definition of cut-offs points, policy and business rules, limit assignment and risk based pricing. The introduced approaches are modeled in the last part of the thesis.

The paper intends to contribute to the ongoing debate of whether group-lending policy are sustainable and able to achieve and maintain sound repayment performance, while serving poor borrowers without the support of third parties such as takaful operator. By aiding new features in better promoting group lending policy with hiwalah, it can further promote the development and sustainability of Islamic microfinance institutions.

The determinants of default risk of banks in emerging economies have so far received inadequate attention in the literature. This paper seeks to study the determinants of bank asset quality and profitability using panel data techniques and robust data sets for the period between 1997 and 2009. The study findings reveal some interesting results that run contrary to established perceptions. Priority sector credit has been found to be not significant in affecting NPAs; this is contrary to the general perception. Similarly, with regard to rural bank branches, the results reveal that aversion to rural credit is a falsely founded perception. Bad debts are dependent more on the performance of industry than on other sectors of the economy. Public sector banks have shown significant performance in containing bad debts. Private banks have continued to be stable in containing bad debts, as they have better risk management procedures and technology, which definitely allows them to finish with lower levels of NPAs. Further, this study investigates the effect of determinants on profitability, and establishes that while capital adequacy and investment activity significantly affect the profitability of commercial banks, apart from other accepted determinants of profitability, asset size has no significant impact on profitability.

This report explores the potential financing mechanism options that can be employed to catalyze more private sector investment in clean energy (renewable energy and energy efficiency) in the small island developing states (SIDS). Various financial instruments that have been used successfully to date are described and placed in the context of the issues and constraints of the SIDS, with suggested options for discussion and follow up. Green infrastructure finance, as defined in the report, makes the important point that is the combination of financial and nonfinancial interventions and instruments that can make green investments in infrastructure more affordable and less risky to private sponsors, financial markets, and governments. The objective of this report is to identify and assess options that can help increase investment in renewable energy and energy efficiency in SIDS through the adoption and funding of financing mechanisms by SIDS and development partners with special attention given to the role that the private sector can play. Many renewable energy technologies are characterized by high initial capital costs with relatively low operating costs compared to thermal alternatives. By providing an analysis of options for a financing facility to catalyze renewable energy and energy efficiency, this work is intended to inform the discussions among SIDS and development partners interested in actions to stimulate investment in renewable energy and energy efficiency. This report summarizes the results of the two stages. The assessment and selection of options identifies a number of measures that will be needed to stimulate increased private sector participation - project sponsors and developers, equity funds, lending institutions - for energy efficiency and renewable energy. The background material reviewed for this report has been summarized in the annexes.

Practically all industrialized economies restrict the length of time that credit bureaus can retain borrowers’ negative credit information. There is, however, a large variation in the permitted retention times across countries. By exploiting a quasi-experimental variation in this retention time, we investigate what happens when negative information is deleted earlier from credit files. We find that the loss of information led banks to tighten their lending standards significantly as the expected retention time was diminished from on average three-and-a-half to three years exactly. Simultaneously, we find that borrowers who experience this shorter retention time default more frequently. Since borrowers nevertheless obtain more net access to credit and total defaults do not increase overall, we cannot rule out that this reduction in retention time is optimal.

Egypt is in a precarious economic situation reflecting a difficult external environment, political uncertainty, and weak economic policies. International reserves have been declining rapidly to a low level, driven by a sizeable current account deficit and large capital outflows. Large spending increases are driving up the fiscal deficit to unsustainable levels, with high real interest rates and weak growth adding to the mounting debt burden. And weak growth is fueling social pressures. Strong financial support from Arab bilateral donors has been holding the country afloat so far, but the leaking cannot continue much longer and the authorities have been forced to seek support from the International Monetary Fund (IMF) and other donors. Egypt is in a precarious economic situation reflecting a difficult external environment, political uncertainty, and weak economic policies. International reserves have been declining rapidly to a low level, driven by a sizeable current account deficit and large capital outflows. Large spending increases are driving up the fiscal deficit to unsustainable levels, with high real interest rates and weak growth adding to the mounting debt burden. And weak growth is fueling social pressures. Strong financial support from Arab bilateral donors has been holding the country afloat so far, but the leaking cannot continue much longer and the authorities have been forced to seek support from the IMF and other donors.

This paper studies to what extent immigrants have less access to main- stream credit than their native counterparts. For this purpose I use a large, unique data set with a panel of Swedish pawnshop customers. The data al- low me to investigate to what extent pawnshop customers actively apply for mainstream bank credit and how successful they are by comparing credit ap- plications from immigrants and natives and the corresponding bank decisions. I do not …nd that immigrants have a di¤erent propensity to apply for main- stream bank credit. However, I do …nd that banks have a lower propensity to grant loans to immigrants from African descent compared to their Nordic-born counterparts. Robustness tests based on data from recent immigrants only suggest that the demand for credit varies with the duration of residence while di¤erences in loan-granting rates are enduring.

Egypt's growth accelerated in the second half of FY10. Real Gross Domestic Product (GDP) growth in FY10 reached 5.8 percent, up from 4.4 percent in FY09 and 4.8 percent in FY10, taking up overall GDP growth to an average of 5.3 percent for the full FY10. Egypt's macroeconomic outlook is stable. Assuming that domestic demand holds up, and Egyptian exports continue their observed recent trend, we expect that the Egyptian economy grows in the range of 6.0 to 6.2 percent in FY11. This is underpinned by strong commitment to maintain structural reforms momentum, and a relatively stable global economy. However, unemployment will remain a challenge as growth as high as 6 percent will barely absorb the increasing number of new entrants to the labor market. Unemployment will continue to be an overriding concern and will gradually fall to around 8.7 percent in FY11. Finally, inflationary pressures are expected to rise, as global prices are likely to filter to domestic consumer prices, domestic demand will gain more solid ground, and gradual adjustment of energy prices will be implemented. Interest rates are not thus expected to rise, yet real interest rates will remain low or negative. This outlook is consistent with that of standard and poor's ratings services which affirmed in 2010.

Der IWF als internationale Organisation versucht bis heute insbesondere, durch Kreditvergabe Zahlungsbilanzkrisen zu überwinden. Die Währungskrisen in Asien und Lateinamerika zeigten allerdings, dass der IWF Kredite mit zahlreichen wirtschaftspolitischen Auflagen verknüpft. Diese strukturellen Anpassungen haben teilweise zu einer Vertiefung nationaler Finanzkrisen und zu sozialen Spannungen geführt. Als Reaktion hierauf ist der IWF in den Mittelpunkt internationaler Kritik geraten. Diese Kritik mündet in Lösungsvorschläge. Nach diesen Reformvorschlägen soll die Kreditvergabepolitik sich auf akute Krisensituationen beschränken und hierbei die Konditionalität weniger stark als bisher anwenden. Aber diese Vorschläge berücksichtigen nicht die Ursachen, die zu dieser Kreditvergabepolitik des IWF geführt haben. In dieser Arbeit werden die Ursachen für die Veränderung der konditionalen Kreditvergabepolitik des IWF analysiert. Nach dieser Analyse wird diese Veränderung auf die mächtigen Staaten, die kreditnehmenden Mitgliedsländer, die Bürokratie des IWF und die internationale private Finanzinstitutionen zurückgeführt. Aus Gründen ihrer politischen, wirtschaftlichen und institutionellen Interessen versuchen diese Akteure, Einfluss auf die konditionale Kreditvergabepolitik des IWF auszuüben. Dies kann auch erklären, warum die Reaktion des IWF scheitert. Die konditionale Kreditvergabepolitik wurde durch den Zusammenstoß der verschiedenen Interessen und die Kooperation zwischen diesen entwickelt. Im Vollzug ihrer eigenen Außenpolitik hindern die USA den IWF daran, dass dieser bei den von den USA bevorzugten Ländern harte Konditionalität durchsetzt. Wenn in einem anderen Fall ein krisenbetroffenes Land eine große Kreditmenge von US-amerikanischen Banken aufnimmt, setzten die USA ihren Einfluss im Interesse ihrer inländischen Banken dergestalt ein, dass der IWF den Kredit an diese krisenbetroffen Länder zur Verhinderung des Verzugs gewährt. Die Bürokratie des IWF verfügt über ein bestimmtes Maß an Autonomie. Dadurch ist sie in der Lage, einen gewissen Einfluss auf die Form der wirtschaftspolitischen Auflagen auszuüben, gleichwohl dieser Einfluss durch das Interesse der mächtigen Staaten beschränkt wird. Die privaten Finanzinstitutionen schließlich bringen ihre Präferenz für Profit durch den Umschuldungsprozess deutlich zum Ausdruck. Durch diesen Prozess üben die privaten Finanzinstitutionen ebenfalls Einfluss auf die Konditionaltät des IWF aus. Ebenso finden auch die Interessen der privaten Finanzinstitutionen hierbei durch die außenpolitischen Ziele der mächtigen Staaten ihre Beschränkung. Diese Ergebnisse der vorliegenden Analyse führen zum eindeutigen Schluss, dass es ohne eine wirksame, gestaltende Kontrolle dieser Interessen unmöglich sein wird, die konditionale Kreditvergabepolitik zu reformieren. Der Kernpunkt einer anstehenden Reform liegt daher in der Art und Weise, wie diese Akteure unter Kontrolle zu bringen sein werden., The IMF as an international organisation tries particulary to overcome balance of payments crisis by lending. The currency crisis in Asia und Latin America showed, however, that the IMF loans with numerours political economic conditions linked. These structural adjustments have partly led to a deepening of national financial crises and to social tensions. In response, the IMF is the focus of international criticism. This criticism leads in reform proposals. According to these, the lending policy shall confine itself to acute crisis and apply the conditionality less strongly than previsously applied. But these proposals do not take into account the causes leading to this policy of IMF lending have led. In this work was analysed the reasons for the change in conditional lending policies of the IMF. According to this analysis, this change attribute to the powerful states, the credit taking member countries, the bureaucracy of the IMF and the international private financial institutions. For reasons of their political, economic and institutional interests of theise, actors try to influence the conditional lending policies of the IMF to exercise. The conditional credit of the IMF was developed by the collision of different interests, and copperation between these. Because of its own foreign policy, the United States prevent that the IMF enforce on the United States prefered countries hard conditionality. In addition, the amount of US bank exposure in a developing country is a determinant of the size f the IMF loans the country reveived. The bureaucracy of the IMF has a certain degree of autonomy. This makes them capable of a certain influence on the shape of economic policy conditions to exercise, although this influence by the interests of powerful states is limited. The private financial institutions, finally bringing their preference for profit by the rescheduling process clearly. Through this process, practice, private financial institutions also influence the Konditionaltät from the IMF. Similarly, there are also the interests of private financial institutions is through the foreign policy objectives of powerful states its limitations. These results of this analysis lead to the conclusion that without an effective, creative control of these interests will be impossible to conditional lending policy reform. The central point crux of an upcoming reform therefore is the way in which these protagonists will have to be brought under control

Significant changes have occurred in the Polish banking sector over the last ten years. In the mid-1990s, due to low market entry requirements, many small private commercial banks, which were frequently established by foreign banks seeking to enter the Polish market, operated alongside state banks. A wave of privatisation occurred in the banking sector, which was followed by a period of consolidation and restructuring. These processes, coupled with a simultaneous increase in foreign investor participation, enhanced management quality and banks’ efficiency, primarily with regard to risk management. The changes, which took place in the Polish banking sector in the second half of the 1990s, improved access to loans for corporates and households alike. As a result, lending grew rapidly. The increase was, on average, more pronounced in the household sector than in the corporate one, which brought the composition of bank loans to the private sector closer to what exists in the European Union. This convergence has accelerated over the last five years. The purpose of this paper is to present the phenomena which influenced the evolution of debt structure of the real economy sector in Poland as well as to discuss related future challenges.

To evaluate loan applicants, banks increasingly use credit scoring models. The objective of such models typically is to minimize default rates or the number of incorrectly classified loans. Thereby they fail to take into account that loans are multiperiod contracts, for which reason it is important for banks not only to know if but also when a loan will default. In this paper a bivariate tobit model with a variable censoring threshold and sample selection effects is estimated for (1) the decision to provide a loan or not and (2) the survival time of granted loans. The model proves to be an effective tool to separate applicants with short and with long survival times. The bank's loan provision process is shown to be inefficient: loans are granted in a way that conflicts with both default risk minimization and survival time maximization. There is thus no trade-off between higher default risk and higher return in the lending policy. © 2004 President and Fellows of Harvard College and the Massachusetts Institute of Technology.

In this paper we apply a bivariate probit model to investigate the implications of bank lending policy. In the first equation we model the bank´s decision to grant a loan, in the second the probability of default. We confirm that banks provide loans in a way that is not consistent with default risk minimization. The lending policy must thus either be inefficient or be the result of some other type of optimizing behavior than expected profit maximization. Value at Risk, being a value weighted sum of individual risks, provides a more adequate measure of monetary losses on a portfolio of loans than default risk. We derive a Value at Risk measure for the sample portfolio of loans and show how analyzing this can enable financial institutions to evaluate alternative lending policies on the basis of their implied credit risk and loss rate, and make lending rates consistent with the implied Value at Risk.