Victoria and Maxim Borisevich. Anton Borisevich: “We understand how the economy of suburban passenger companies is changing with a leasing load. What are your plans for the summer

"Companies"

Drilling recoil "VTB"

Andrei Kostin, with the help of St. Petersburg authority Shota Boterashvili, stole several tens of millions of dollars from the bank
On February 11, the Department for Combating Economic Crimes (UBEP) of the Main Internal Affairs Directorate of Moscow refused to open a criminal case at the request of Alexei Navalny, a minority shareholder of VTB, and several other minority shareholders of the bank. The shareholders asked the Central Internal Affairs Directorate to check the actions of employees of VTB and VTB-Leasing, who illegally entered into contracts for the sale of drilling equipment and its leasing.

VTB-Leasing purchased equipment not from the Chinese manufacturer Sichuan Honghua Petroleum Equipment, but from the Cypriot Clusseter (it was not possible to find its contacts), paying more than $15 million for each installation, excluding customs duties and fees, the contract says. The annual report of the Chinese company indicates that the cost of installations is about $10 million. The total damage during the purchase was about $160 million, Navalny calculated.

UBEP GUVD refused to initiate proceedings against the ex-general director of VTB-Leasing Anton Borisevich, the ex-deputy chairman of VTB Igor Zavyalov and the former senior vice-president of VTB Vladimir Osmolovsky, whose signatures are under leasing agreements between VTB-Leasing and Well Drilling » in the amount of no more than 30 billion rubles.
link: http://www.rospres.com/finance/6197/

Andrey Kostit steals from VTB

List of persons who have information about the facts set forth in this application and who can provide explanations during the verification, inquiry and preliminary investigation:

The management of JSC VTB-Leasing in 2007:
Borisevich ANTON Vladimirovich — General Director

Balashova Olga Olegovna — Deputy General Director

The management of JSC VTB-Leasing in 2008-2009:

Konoplev Andrey Yurievich — General Director

Aldyshev Kirill Yurievich — Financial Director

Voronetsky Anatoly Anatolyevich — Deputy General Director

Kuzmenko Alexander Timofeevich — Deputy General Director

Fomenko Nadezhda Vladimirovna — Deputy General Director

Chernenko Grigory Andreevich — Deputy General Director

Komrakova Galina Tikhonovna — chief accountant

Management of JSC VTB Bank:

Andrey Leonidovich Kostin — President-Chairman of the Board

Kuzovlev Mikhail Yurievich - First Deputy President

Titov Vasily Nikolaevich - First Deputy President

Puchkov Andrey Sergeevich - Deputy President, Chairman of the Board of Directors of OJSC VTB-Leasing

Soldatenkov Gennady Vladimirovich — Deputy President

Dergunova Olga Konstantinovna — Member of the Board

Lukyanenko Valery Vasilyevich — Member of the Board

Norov Erkin Rakhmatovnch - Member of the Board
link: http://www.rospres.com/corruption/5587/

The prosecutor's office canceled the decision to refuse to initiate proceedings against former top managers of VTB and VTB-Leasing, who illegally entered into contracts for $ 650 million

Law enforcement authorities have identified VTB Group managers involved in scandalous transactions for the purchase of drilling rigs. And they decided that there were no grounds for refusing to initiate a criminal case yet.

On February 11, the Department for Combating Economic Crimes (UBEP) of the Main Internal Affairs Directorate of Moscow refused to open a criminal case at the request of Alexei Navalny, a minority shareholder of VTB, and several other minority shareholders of the bank. The shareholders asked the Central Internal Affairs Directorate to check the actions of employees of VTB and VTB-Leasing, who illegally entered into contracts for the sale of drilling equipment and its leasing.

On July 26, 2007, the Cypriot Clusseter Ltd signed a contract with VTB-Leasing (Vedomosti has it) for the purchase of 30 ZJ50DBS drilling rigs. They were then to be leased to the Well Drilling Corporation. The contract was estimated at $456.9 million, with customs duties and fees - $650 million.
link: http://www.compromat.ru/page_28978.htm

BMW exhibited on Moscow time

President of BMW Group Russia Christian Kremer met the guests and offered to sit down. The guests could see a stunning panorama of Red Square and the festively illuminated GUM. It was this view that became the scenery for the concert. On the stairs to the tent, the general producer of the Silver Rain radio, Natalya Sindeeva, lingered. She was interrupted by an important phone call. Leaning over the railing, Mrs. Sindeeva was waiting for her husband, the chairman of the board of the KIT Finance investment bank, Alexander Vinokurov. With all their appearance, the couple once again demonstrated that even in a secular society, a sincere relationship and great love are possible. Soon they were joined by ex-president of Musa Motors Boris Teterev. Despite the sale of the company's shares and Latvian citizenship, Mr. Teterev regularly appears in Moscow and hurts the hearts of the capital's residents with stories about his many travels around the world. By the way, he is still among those few people who always comply with the dress-code specified in the invitation. At the BMW presentation, evening wear was offered. But there were those who ignored this indication. Deputy Chairman of the Board of Directors of the International Commercial Bank Dmitry Shevelev came in a T-shirt, explaining that he had just returned from the RBC conference in Cyprus and had not yet passed the acclimatization. In addition, this morning someone hit him with a Mercedes parked at the Aist restaurant, he was upset and was not going anywhere at all. First Deputy Minister of Finance of the Moscow Region Valery Nosov and head of VTB-Leasing Anton Borisevich supported a friend and, since it all happened, promised to give him a new BMW. But Mr. Shevelev did not lose heart anyway and said that he was preparing for the presentation of his first book and that in general he liked Ferrari much more.
link.

Victoria and Anton Borisevich are one of the most elegant and harmonious couples in Moscow, men follow Anton's achievements, women watch Victoria's style, and their whole family, together with their son Maxim, evokes only positive emotions and admiration. We interviewed Victoria and invited her to take part in our shooting with her son, we hope that the wisdom and warmth of this family can be conveyed through our blog and photos and you will smile with us.

On Victoria: top and skirt By Malene Birger, Prada shoes. On Makisma: Colorichiari set, Fendi moccasins.

What are the basic principles in raising Maxim?

We bring up Maxim in strictness, but at the same time with respect for his personality. We always discuss controversial issues and try to reach an agreement.

On Victoria: Keepsake dress, Cashmere top, Sergio Rossi shoes.

On Maxim: Trousers, shirt, shoes, all Dolce & Gabbana.

Does your husband help raise the child?

The husband takes a very active part in the upbringing of his son. And despite his busy schedule, he always finds time for it.

How do you like to spend your free time with your family?

We spend all our free time together, it can be joint sports (or trips to sports camps with World Class) and trips to museums. We like to go to the theater together, and to the cinema, we also go to children's films with the whole family.

What is a happy childhood?

A happy childhood is when love and trust reign between all family members at home, when everyone is interested together, when the child knows that his parents love him (and even when he has committed some kind of misconduct). For this, of course, they can be punished, but they definitely won’t love less.

On Victoria: top and skirt By Malene Birger, Prada shoes.

On Makisma: Colorichiari set, Fendi moccasins

What classes does Maxim go to outside of school?

We have a lot of extra classes and if there were 24 hours in a day, then there would be a significant increase in classes. Maxim is a very curious boy and wants to try everything that would not be offered to him. Now he is engaged in music, karate, tennis and football, plus we have 7 hours of English per week with native speakers.

Where do you go in Moscow with Maxim. Please write your top 5 places and why.

Our favorite park is Muzeon, which smoothly flows into Gorky Park and Neskuchny Garden. We live across the street, so we go there every day.
Of the restaurants, the most favorite (for visiting with children) is Bottega Siciliana, it is always very tasty there and Maxim is happy to cook pizza himself with the chef.
From the restaurant, we usually go up to the Moscow cinema to watch something from the children's repertoire. Of the clubs, we really like Ribambel and the recently opened KidZania.

If you could give your child some advice now that he would read many years later, what would it be?

Be a person, have your own opinion and not be afraid to defend it, respect people and listen to your parents, because as life shows, they can give good advice (based on their rich experience.

On Victoria: Dorothea Schumacher trousers and top.

Maxim is wearing: Paul Smith Junior cardigan, Il Gufo T-shirt, Colorichiari pants, Fendi moccasins.

They say that children teach their parents a lot, what did Maxim teach you?

First of all, he taught us to sincerely rejoice in simple things that adults sometimes do not pay attention to ....

What are your plans for the summer?

At the beginning of summer we will go to a sports camp, in July we plan to send Maxim to a summer camp in America, and we will spend August in France.

In 2016, STLC and JSC Russian Railways signed a cooperation agreement. Please tell us how this agreement is being implemented?

Active work is underway to find the best solution. Russian Railways have some of the best conditions for raising funds and actively use it. We are well aware that the company does not want to overpay, cannot and is not going to. At the same time, I hope that the work that we started in 2016 will lead to the first transactions in 2018. STLC is also cooperating with the Federal Passenger Company to find the best solution to upgrade the passenger fleet. We are discussing with colleagues a large program that will include many transactions and which will be designed for more than one year. It will allow you to update any fleet that is required - whether it be double-decker or any other cars. In addition, we are cooperating with the Ministry of Transport in terms of financing the renewal of the fleet of commuter train operators.

- Is it possible that the state will solve the problem of renewal of suburban rolling stock through STLC?

At the hearings on the organization of suburban transportation in the Federation Council, STLC proposed a variant of how it would be possible to launch a rolling stock renewal program using the leasing mechanism. We have presented various financing mechanisms that have already been discussed with the Ministry of Transport. STLC has experience in implementing such projects. Our company has already performed the function of a conductor and the implementation of state support in providing air ambulance transportation throughout the Russian Federation. We understand how to do it. There are different proposals for suburban transportation: how to purchase, how to finance, on whose balance sheet to keep the park and infrastructure - in the ownership of Russian Railways or the regions. STLC believes that the suburban electric train fleet renewal program should be based on the fact that suburban passenger companies will have money for new electric trains. At the same time, it is obvious that the passenger traffic of the operators is different. We have been implementing the program for 2 years with the most successful company in this segment - CPPK, we are their largest partner in financing the purchase of rolling stock. We have thoroughly studied the economy of the CPPK, taking into account the fact that the rolling stock is mainly leased from Russian Railways, we understand how the economy of suburban passenger companies will change with a leasing load. It is important to understand how much money is needed. Because if there is no money, it is impossible to renew the fleet of electric trains. And in this case, the purchase of new cars for all suburban companies will require state subsidies.

- In addition to the future state program, is it possible for STLC to cooperate with suburban companies in the near future?

STLC is gradually reducing the share of its leasing portfolio in the rolling stock segment from 54% in 2012 to 27% in 2016. Will this trend continue in 2017 and in 2018?

The share of rolling stock is significantly influenced by our activity in other areas. We can buy a lot of wagons, but if we buy planes, helicopters, build ships and make other investments in transport infrastructure at a much faster pace, the share may not change, but even fall. Today the trend has changed. The share of rolling stock increased from 27% at the end of last year. In 2016 and 2017, we focused on acquiring new rolling stock and gave preference to the innovative fleet, acquiring about a third of all innovative railcars produced. But there are needs in the market for different types of products. We try to buy a new park, but we take into account what the client needs. Returning to the share of rolling stock, it will grow. In general, we try to balance, so that our main industry groups - aircraft, freight and passenger cars, freight and, possibly, in the future, passenger ships - balance among themselves. Of course, I would like to have a perfect picture. We also have assets in the sector of energy efficiency programs in transport. We are also exploring other industries that might be of interest to us. For example, energy.

- Is the railway infrastructure in the field of view of STLC?

And we are looking at the railway infrastructure. This also applies to traction. We strive for balance. But the situation, both economic and technological, is different in each segment. Each segment has its own cycle of disposal of old vehicles. As a result, growth rates are not uniform. Over the past three years, our aviation business has been actively developing. Its rates were the highest, although they did not always correspond to the leasing market as a whole.

- What will be the share of railway leasing in the future?

I think that the railway segment as a whole in the leasing market will not return to the colossal dominance that it was in 2012. And it will be right, because this is not a monomarket. I can say for sure that the railway segment is one of the key segments for STLC. We believe that it is one of the least risky, because the car does not require complex maintenance, the depot network is quite developed. In order to keep the car in proper technical condition, you just need desire and money. The clients we work with successfully cope with these tasks.

In 2017, deals were made to purchase freight cars for record amounts. What does this fact say? What has changed in the market and in general in macroeconomics?

Indeed, the market stopped negative trends, increased the rate of return of operators of freight rolling stock. To explain why the trend has changed, it is necessary to recall the previous situation. The crisis in the level of profitability in the operation of freight rolling stock began even before the general economic downturn. The daily rate of return began to decline in 2012, driven by two narrow-profile factors: the overproduction of railcars and the dumping of operators with low-value fleets. As a result, in 2014 and early 2015, rental rates were at the level of the cost of operating the park. I would also like to note the role of financial institutions. Recently, they have been actively criticized for allegedly creating a bubble of new cars. I can say that in most cases, large transactions were justified - specific contracts for the transportation of goods were financed. At the end of 2015, the Ministry of Transport issued an order to ban the operation of cars with an extended service life from January 1, 2016, and a large number of gondola cars went out of circulation within two years. This process will continue for another 2-3 years. In 2016, the volume of transportation began to grow, including the main cargo for gondola cars - coal. There was a great need for wagons. In addition, there was pent-up demand. And now we see how the resulting deficit is being replenished. This applies primarily to gondola cars, grain carriers and flatcars. In general, investors were able to compensate for the losses they suffered during the period of falling rates.

- What allowed companies to conclude long-term deals in 2017?

Wagon leasing started with five-year deals. Then it became clear to the market that this was an investment in an asset with a long life cycle - based on the level of profitability for 5 years, it is impossible to recoup the car. There is no such level of margin in this business. Therefore, the market quickly moved to the standard of 10 years. Now our company uses the 15-year standard. We understand that during this time the car should pay off. Its residual value at the end of the 15th year should not exceed 25%. The innovative car still has 17 years of operation left. The classic gondola has 7 years. But this is only one side of the business process - the need on the part of operating companies. On the other hand, the operating conditions of leasing companies have changed. It became possible to borrow money for longer periods. Today we have transactions that finance leasing projects for the entire duration. In addition, confidence in large financial companies has grown over the years. If we talk about STLC, then during this time it has changed a lot and has become the largest in Russia. The company was able to get ratings one notch below Russia's sovereign rating. STLC is an active public debt issuer. We can attract borrowed capital for a period of 15 years.

- Has this opportunity been affected not only by changes in cargo transportation, but also in macroeconomics?

We see the economy recovering. There have also been changes in the financial markets. This is a fairly serious reduction in the key rate. It fell by more than 2 times from a maximum of 17% per annum at the turn of 2014-2015. Now it has fallen even below the level at which it was before the increase.

- Can we expect new long-term contracts in 2018 and with whom?

Of course, in 2018 STLC plans to enter into long-term contracts. We conclude such deals when we see that this is not a spot, that the client has an economically justified cargo base. This suggests that the cargo operator plans well. On the other hand, long-term contracts provide a stable workload for transport engineering. In this part, we, a state-owned company, are implementing our function of supporting domestic engineering for a long period.

- Can the situation with a significant fleet surplus be repeated?

We see a balanced position of car builders. They see and understand the price they had to pay for the records set in 2012. They do not increase volumes as they could increase. Moreover, in their forecasts, they include a drop in demand for the car.

- And they include this risk in the current price?

The price is formed not only by demand. Today it is difficult to force a customer to buy something that is not profitable for him. And the cost of production here does not matter. It is clear that the plant, in order to produce a wagon, must make expenses. Further, in order to recoup the price that the leasing company or operator pays when purchasing a wagon, it must be profitable. I can say that those operators with whom we work, include in one of the forecast scenarios a possible reduction in rates. First of all, in those segments where the rate has grown significantly. These are gondola cars and grain-carriers. On the other hand, there are segments where the rate will only begin to grow in the near future - hopra cement trucks and covered wagons. Financial institutions are also likely to continue to responsibly invest in new orders. All major players monitor the required fleet indicator. Everyone has their own assessments, but everyone understands that investments may suffer due to the financing of an oversupply of wagons. We expect that such risky decisions will not be made by either leasing companies or banks.

Forecasts are primarily based on market saturation, on the fact that at the peak of the season the rush demand for rolling stock will be satisfied. And, accordingly, there will be no such proposal, in which shippers will be ready to take the car at any price. This could happen as early as 2019. Although, on the other hand, it will depend on the volume of cargo transportation and the margin from the sale of cargo that the cargo owner will receive. If the prices for the main groups of goods transported by gondola cars do not fall, and the volumes of transportation grow, then the cargo owners will be ready to pay the premium further. Because, without exporting their goods, they do not have the opportunity to sell it.

- Is this the most likely scenario?

There are different scenarios. There is a scenario that provides for a drop in profitability for a number of groups, primarily gondola cars, already in 2018. But we think that in 2018 the rate has more chances to stabilize than to decrease. In 2019, it may begin to decline. So far, based on the actions of the main players, we do not expect a collapse in rates.

- What will happen in 2-3 years, when the process of decommissioning the outdated fleet is completed?

Beyond the horizon of 2 years, in order to support and increase volumes, it is necessary to develop the export of our railcars. Today, the cost of the Russian innovation park is very competitive in foreign markets, but one must understand that in any market, strangers are not welcomed with open arms. This is a serious competition.

- Is the task of supporting exports on the agenda of STLC?

For STLC this direction is interesting. Even now, from the point of view of the client base, STLC is an international company. We are actively working with foreign lessees, for example, in aviation. What allows us to reach the international level? First of all, it is a product, a quality vehicle.

At the end of 2016, STLC was the leader in terms of new business volume in the Russian railway segment with a share of 34%. Will the company retain its first place in 2017?

I do not think that we will cease to be leaders in 2018. Our colleagues, also owning a fairly large fleet, do not invest so actively. Nevertheless, there is competition in the market, there are different financial opportunities, there are simply preferences, an established history of relationships. STLC did not have the task of being the number one company in any of the segments. We are solving the state task of transport and infrastructure development.

Amendments to the federal law “On Financial Leasing (Leasing)” are currently being developed. How do you assess the possible impact of these amendments on the market?

We support the idea of ​​regulation, but it is very important to understand what, how and through what we regulate. Regulation should solve its main tasks - obtaining a positive economic effect, that is, the growth of the gross product produced in this market in the real sector of the economy, reducing unemployment and, as a result, social tension, increasing budget revenues, increasing labor productivity, preventing abuses. Since the financial leasing market is an integral part of the country's economy and is aimed at updating and expanding the country's production potential, the goal of the reform should be determined by the state economic positive results of this particular subject area.

- What uncertainties remain, in your opinion?

Currently, for the transport industry, leasing is a flexible and comprehensive tool that, on the one hand, allows you to promote new products of the railway engineering, aviation and automotive industries, both in Russian and foreign markets, and on the other hand, provides a stable and understandable channel investing in the real sector of the economy, aimed at updating the production assets that generate the gross product. And it is very important when developing any measures that can significantly affect the leasing market, to calculate the effect of the implementation of these measures so as not to lose the already established mechanisms that give positive results on a national scale, especially against the backdrop of the declared policy of import substitution. The main risk of the current version of the draft law is related to the uncertainty in the causes, methods and criteria of regulation. With a situation where STLC and other participants in leasing activities, being in long-term contracts already concluded for a period of more than 10 years and having no room for maneuver, will not be able to predict their financial situation in the event of an unpredictable change in regulatory regulation. In the process of communication between STLC and foreign investors in preparation for the placement of the Eurobond issue, as well as with foreign rating agencies, questions are increasingly being asked about the essence and consequences for the leasing market of the ongoing reform. And we feel a certain discomfort among investors when it comes to long-term investments. In this regard, the adoption of the law, which actually only announces the reform, without disclosing its entire essence, can for a long time stop the inflow of investments in leasing, which today amount to hundreds of billions of rubles annually.

First Deputy General Director of PJSC STLC

“According to the results of the first half of 2017, STLC became the largest leasing company in Russia, while maintaining its leading position in terms of new business volume”

– What significant events took place in the leasing market in the 1st half of 2017?

– The most significant event for us was the fact that according to the results of the first half of 2017, STLC became the largest leasing company in Russia, while maintaining its leading position in terms of new business. The company's business is actively developing, and this is reflected in the corresponding ranking. Of course, we are not going to rest on our laurels and are preparing strategic plans for the future. One of the priority activities of our company is the development of exports of Russian high-tech products.

If we talk about the leasing market as a whole, then we can confidently talk about its recovery after several years of decline. The growth, which the market showed last year, continued this year as well. We can also note the issues on the introduction of regulatory mechanisms for the leasing industry, initiated by the Central Bank. Will this system be launched, what will it look like, what standards will be introduced, will the system of accounting standards that are used to account for leasing operations be changed. All these events have not happened yet, but they will certainly affect the market in the future.

– How, in your opinion, will the leasing market develop in the second half of 2017? State the reasons that support your expectations.

– I believe that the growth rates laid down in the first half of 2017 will be maintained. On the one hand, they are influenced to a certain extent by pent-up demand. On the other hand, we see the recovery of the Russian economy. Therefore, we believe that the market will actively grow. But what will be the final form of its sectoral structure, it will be possible to judge only by the results of the year.

– What difficulties will leasing companies face in the first place when switching to a single chart of accounts (CAP) for NFIs? What expenses associated with the transition to the ENP, in your estimation, will be incurred by large (top 20) and small companies on average? What type of leasing companies will find it more difficult to adapt to new requirements?

- For the largest players in the market, reporting according to international standards is much more relevant. In terms of representativeness, it best reflects the state of business of any leasing company. If a final decision is made to switch to a single chart of accounts for NFIs, then we will, of course, implement it. In general, the transition to any new accounting system is a complex and costly procedure. In addition, there is the question of how financial institutions lending to leasing companies will work with these reports.

– From which sectors of the economy does the company expect growth in demand for leasing from customers in connection with the beginning of the recovery of the Russian economy? What types of transport will be most in demand this year?

- STLC is not actively working in all sectors of the market, so I will tell you about the expectations of our company specifically. First of all, we expect aviation demand to continue. Our aviation business is actively expanding both through the implementation of the SSJ-100 lease development program and through new types of aircraft. This includes the supply of helicopters as part of the air ambulance program, and the program for the localization of L-410 aircraft. We also expect quite a lot of activity in the segment of water transport leasing, river-sea vessels. There is a great need for fleet renewal in this industry, and we see that the demand for new vessels is only growing year by year. In our opinion, the freight car leasing market will continue to develop. This is due, among other things, to write-offs of wagons - in some segments, 30-40% of the fleet. This process had a very positive impact on the profitability of the freight car leasing segment, because the excess part of the fleet was written off naturally. Some of the decommissioned cars, of course, should be restored. The further prospects of this segment will strongly depend on how actively the construction of new cars will be financed. It should be noted that the market in a consolidated way expects the position of financial institutions, aimed primarily at preventing a surplus of wagons. Because in the near future we will not have such a regulatory mechanism as the write-off of an expired fleet. We expect financial institutions to closely monitor indicators such as the rise and fall in freight traffic, the shortage or surplus of the fleet on the railway networks. We also believe that leasing of passenger rolling stock will develop in the railway segment. Our company began to implement the first transactions in this segment two years ago, and the volume of business is growing. Growth rates in the passenger rolling stock leasing segment will be high, based on a low base for comparison. This is due to the fact that this type of rolling stock is just beginning to be financed through the leasing mechanism. It is possible that the first projects with traction rolling stock will begin to be implemented. However, we don't expect big deals this year - it's more of an outlook for the coming years.

– What types of railway cars (tanks / hoppers / gondola cars / fitting platforms, etc.) are in the greatest demand in 2017? What is the current situation with the solvency of railway operators? Should we expect a decrease in the volume of operating leasing in the railway segment this year?

– In 2017, the universal fleet, primarily gondola cars, is in the greatest demand. As I already said, in 2016-2017 a large number of wagons were decommissioned. And the surplus that was in 2014 and 2015 has now been replaced by a deficit. This allowed the rates of return of railway operators to grow. It is worth noting that the problems that the market went through in previous years made it possible to carry out a fairly good purge in the ranks of the operators. To date, the market has greatly reduced the number of companies that are engaged exclusively in the rental of wagons. There are players who are mainly engaged in cargo handling. These are positive developments for lessors, because the company that directly transports goods has both higher profitability and more predictable cash flows that can be used to pay lease payments. In some segments of the rolling stock, we continue to see a surplus and expect that the upcoming write-offs will improve the situation. First of all, we are talking about oil and petrol tanks. It is important to note that today the production of new rolling stock is not growing at the same pace as it happened in 2011 and 2012, when the car building industry showed an absolute record. Car builders, operators, and financial institutions are pursuing an extremely balanced policy of increasing production rates. Because a number of factories in the past years produced practically nothing.

I would not talk about serious reductions in leasing volumes in the railway segment from the current level, because, in addition to transactions to finance new rolling stock, both this and next year projects will be implemented to refinance existing contracts and change lessees. Formally, these transactions are new business, and they are taken into account in the market. On the other hand, this will not lead to the appearance of new freight cars on the Russian Railways network. Therefore, the industry is unlikely to break into the lead, as it was some time ago. And the share of rolling stock, which was in 2010-2012, most likely will not return. However, we do not expect a significant drop in this segment. The end of the cycle of large decommissioning of wagons, which will be completed by 2020, will neutralize the demand for a new fleet, but it will still be built in reasonable quantities.

It must be admitted that the solvency of operators in previous years was generally satisfactory. The issue was the level of rates that operators could pay and which obviously did not allow not only to recoup investments, but also to fully service interest payments. The previously produced fleet felt more positive, because with the low cost of this type of railcar, the leasing payment rate for it was also low and allowed it to fit even into the conditions of low rates of return that were on the market. At the same time, it was impossible to recoup new rolling stock with those rates. That is, the solvency of operators, we believe, has remained at the same level. But the increased level of profitability allowed leasing companies to receive those payments that they did not receive in previous years.

- What products in the current conditions, in your opinion, will be in demand by customers? Was there a rejection of existing / introduction of new products?

– I do not think that the product line of leasing companies has changed much in the past six months. It is unlikely that it will change much next year. The only thing I would like to note is the active growth in the volume of long-term transactions. Transactions with leasing items that have a long service life: aircraft, ships, rolling stock, infrastructure. And today it is not uncommon for a deal for a period of 12 years.

– In 2016, in the structure of new business, the largest increase in the share was shown by the segment of sea and river vessels (from 2 to 7%). Does this trend continue in 2017? What, in your opinion, is the capacity of the water transport leasing market, given the high degree of depreciation of the existing fleet?

– In the segment of leasing of sea and river vessels, the dynamics will be quite high. We are on the verge of a fairly large cycle due to the need to replace ships manufactured back in the Soviet era. On the one hand, these vessels are expiring, and on the other hand, the Russian Federation joins the international requirements governing the state and environmental parameters of the use of various types of vessels. All this suggests that the volume of investments in this segment will only grow in the near future.

– In 2016, the volume of the leasing business in the aviation segment was largely formed by the transactions of your company (about 50% of new business in the aircraft segment). What are the company's plans for the volume of transactions with aircraft equipment for 2017? Are there prerequisites for the development of not only aircraft leasing, but also helicopter equipment in Russia?

– This year we started active business development in the helicopter segment. At the end of last year, as part of the air ambulance development program, we signed a contract with Russian Helicopters for the purchase of 29 helicopters. For the implementation of this program, STLC was capitalized by 3.8 billion rubles, plus we plan to raise more than 5 billion rubles by the end of 2017 from extrabudgetary sources, by analogy with the SSJ-100 program. Next year, for the development of helicopter leasing, additional capitalization of STLC by another 4.3 billion rubles is provided. By implementing this program, we receive applications from all over Russia. This is due to the enormous need for new helicopters, as the current fleet is very worn out. And the mechanism that was proposed by STLC was perceived by market participants very favorably. Therefore, this year all 29 helicopters equipped with medical modules will be transferred to financial leasing to operators.

I think that the growth rate of business in the aviation segment will remain at the same level. The share of aviation in our leasing portfolio continues to be significant. At the same time, the portfolio is formed through contracts with our key partner, the state-owned company Aeroflot, as well as through non-commercial leasing with state support - the SSJ-100 lease development program, the L-410 aircraft localization project and the helicopter leasing program. These programs will continue next year. At the same time, it must be said that we are actively working to balance our portfolio and are trying to reduce the share of aviation not by reducing the share of business in this segment, but by expanding business volumes in other industries.