The Bank of Non-Core Assets Trust (BNA Trust), which manages the non-core and distressed assets of major banks that were financially rehabilitated by the Russian Central Bank between 2017 and 2018, is on track to meet its asset recovery target two years earlier than planned. 

By the end of 2021, BNA Trust had already executed 99.4% of its strategic plan to recover RUB 482 billion, which includes RUB 308 billion recovered between 2019 and 2021 and the bank’s fair asset value at RUB 171 billion. The Bank’s strategic recovery plan is outlined through 2023.

In 2021 alone, BNA Trust’s asset recovery totalled RUB 110 billion, which represented 126% of its target for that year. The majority of this amount was raised through pre-trial settlements and asset sales.

BNA Trust manages companies and assets in construction, oil extraction, engineering, agriculture, real estate and other sectors. It demonstrates some of the best results among its peers, according to calculations by PwC and BNA Trust, with a recovery to market value ratio of 132%. The largest company under BNA Trust’s management is the Russian property developer Inteco, whose revenues totalled RUB 58.6 billion in 2021.

“During the span of three years, we have proven our credibility by showing strong results that exceeded those of similar institutions abroad. Almost 90% of all returns came from settlement and asset management, and only 10% from judicial recovery. This clearly demonstrates the professionalism of our entire team and the effectiveness of our chosen business strategy,” commented Alexander Sokolov, Chairman of BNA Trust’s Management Board.