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Analіz bankіvskoї dіyalnostі - Gerasimov AM

2.6. Analіz nerozpodіlenogo pributku yak skladovoї Vlasnyi kapіtalu

Nerozpodіleny Prybutok - tse Chastina pure pributku, yak not rozpodіlyaєtsya and utrimuєtsya Bank, yak usually h metoyu reіnvestuvannya in Yogo dіyalnіst. Zaznacheny Prybutok Je Jerel Vlasnyi kapіtalu vnutrіshnogo pohodzhennya. Vіn stvoryuєtsya yak zalishok pure pributku pіslya narahuvannya divіdendіv, vіdrahuvan in zagalnі reserves, reserve kapіtal that in INSHI funds (reserves), stvorenі vіdpovіdno to rіshen zagalnih zborіv uchasnikіv (zasnovnikіv, uchasnikіv) bank abo zgіdno s chinnim zakonodavstvom. In fіnansovomu oblіku nerozpodіleny Prybutok vklyuchaє result rokіv passed, the result passed rock, scho ochіkuє zatverdzhennya Zborov aktsіonerіv (zasnovnikіv) is the result of stream rock. Chim bіlshі values ​​nerozpodіlenogo pributku, team maintained upstream. Prote mother slіd on uvazі scho result of stream rock Mauger Buti vіdkorigovany in bіk zmenshennya the results auditorskih perevіrok i to tsogo not Mauger Buti time splacheny in viglyadі divіdendіv. Natomіst vіd'єmne values ​​rezultatіv passed rokіv that stream rock oznachaє, scho bank at that chi Inshyj perіod MAV zbitki, tobto "proїdav" svіy Vlasnyi kapіtal.

Oskіlki rozmіr usіh vіdrahuvan (krіm divіdendіv) zavchasno viznacheno then zalishok nerozpodіlenogo pributku passed for Year deposits perevazhno od rozmіru divіdendіv, SSMSC povinnі splachuvatisya aktsіoneram (participant). W metoyu doderzhannya vstanovlenogo Natsіonalnim Bank of Ukraine spіvvіdnoshennya "Vlasnyi kapіtal / assets" banks often zmushenі vibirati mіzh zbіlshennyam rozmіru nerozpodіlenogo pributku th emіsієyu novih aktsіy. However aktsіoneri bank Yea i yogo vlasnikami neohoche ydut on rozshirennya Cola aktsіonerіv that nova emіsіyu aktsіy. Koli Chastina pributku zalishaєtsya in rozporyadzhennі bank zamіst dwellers of Buti rozpodіlenoyu on divіdendi, vlasniki bank vvazhayut scho tsі utrimanі in Costa maybutnomu zabezpechat їm neobhіdnu rinkovu dohіdnіst zvichaynih aktsіy. Zbіlshennya Vlasnyi kapіtalu for rakhunok nerozpodіlenogo pributku vigіdno takozh fact scho s not him pov'yazanі nіyakі vitrati. However trivale strimuvannya viplati divіdendіv Mauger prizvesti to znizhennya rinkovoї vartostі aktsіy.

Zdіysnyuyuchi analіz nerozpodіlenogo pributku yak dzherela Vlasnyi kapіtalu, neobhіdno poєdnuvati yogo s analіzom fіnansovih rezultatіv dіyalnostі Bank and takozh vrahovuvati methodological viznachennya divіdendіv, SSMSC vikoristovuє bank zdіysnyuyuchi divіdendnu polіtiku. Slіd vrahovuvati takozh FORMS viplati divіdendіv, obmezhennya on їh viplatu, SSMSC vstanovlyuyutsya chinnim zakonodavstvom that Natsіonalnim Bank of Ukraine, and takozh dіyuchy order viplati that opodatkuvannya divіdendіv (tab. 2.6).

Danі Table. 2.6 svіdchat, scho Bank blizko 20% pure pributku napravlyaє on viplatu divіdendіv, Hoca Pete Wagga divіdendnih viplat zmenshilasya for analіzovany perіod by 1.8 percentage points. In svoїy dіyalnostі Bank dotrimuєtsya method postіynogo rozmіru divіdendnih viplat. Viplata divіdendіv zdіysnyuvalasya viklyuchno in groshovіy formі.

Table 2.6 Analіz divіdendnih viplat

Analіzuyuchi rozmіr divіdendіv, SSMSC viplachuyutsya vlasnikam bank neobhіdno z'yasuvati type divіdendnoї polіtiki, yak Bank Wire: Conservative, Aggressive pomіrny chi. Cutaneous type divіdendnoї polіtiki vіdpovіdayut konkretnі methodological viznachennya divіdendіv, skin s yakih Got yak pozitivnі RISS, so i pevnі wadi.

Conservative type vіdpovіdayut zalishkovy method is the method postіynogo rozmіru divіdendnih viplat. Sutnіst Perche method polyagaє in fact scho rozmіr pributku for viplati divіdendіv viznachaєtsya yak zalishok pіslya zadovolennya іnvestitsіynih mozhlivostey bank. Perevagoyu zaznachenogo method Yea those scho zabezpechuyutsya visokі Tempi rozvitku bank pіdvischuєtsya yogo fіnansova stіykіst. Nedolіk same polyagaє in nestabіlnostі rozmіrіv divіdendnih viplat, scho negatively on vplivaє formuvannya rinkovoї vartostі aktsіy that іmіdzh bank.

Sutnіst method postіynogo rozmіru divіdendnih viplat polyagaє in zberezhennі stabіlnoї sumi divіdendnih viplat protyagom trivalogo promіzhku hour. Tsei method stvoryuє pochuttya vpevnenostі vlasnikіv in stabіlnostі rozmіru stream pributku Square od rіznih chinnikіv, viznachaє stabіlnіst kotiruvannya aktsіy on market analysis tsіnnih paperіv. Vadoyu zaznachenogo method Je Slabko vzaєmozv'yazok mіzh divіdendami that fіnansovimi results dіyalnostі komertsіynogo bank. For zmenshennya vplivu zaznachenoї wadi stabіlny rozmіr divіdendnih viplat vstanovlyuєtsya, yak usually on vіdnosno nizkomu rіvnі.

Pomіrnomu type divіdendnoї polіtiki vіdpovіdaє method postіynoї that zmіnnoї Chastain divіdenda. Sutnіst tsogo method polyagaє in regulyarnostі viplat stabіlnih is small for rozmіrom divіdendіv in tіsnomu vzaєmozv'yazku s results fіnansovoї dіyalnostі Bank, yak daє zmogu zbіlshuvati rozmіr viplachuvanih divіdendіv in perіodi efektivnoї yogo robot. Nedolіkom tsogo method Je znizhennya rinkovoї vartostі aktsіy in vipadku trivaloї viplati mіnіmalnih rozmіrіv divіdendіv and takozh those scho Mauger vіn efektivnosti zastosovuvatisya s banks nestabіlnimi in dinamіtsі rozmіrami pributku.

Aggressive type divіdendnoї polіtiki vklyuchaє: method stabіlnogo growth divіdendіv that method postіynogo koefіtsієnta viplat.

Purshia method peredbachaє stabіlne zrostannya rіvnya divіdendnih viplat in rozrahunku one aktsіyu. For tsogo vstanovlyuєtsya, yak usually fіksovany rozmіr percent growth divіdendіv to їh rozmіru in poperednomu perіodі. Perevaga tsogo method polyagaє in zabezpechennі visokoї rinkovoї vartostі aktsіy bank that have formuvannі yogo positive іmіdzhu Sered potentsіynih іnvestorіv at dodatkovih emіsіyah. Nedolіk tsogo method polyagaє in vіdsutnostі elastichnostі in Yogo zastosuvannі, skorochennі іnvestitsіynoї dіyalnostі that pogіrshennі fіnansovogo become the bank for minds zbіlshennya rate zrostannya koefіtsієnta divіdendnih viplat.

Method postіynogo koefіtsієnta divіdendnih viplat peredbachaє doderzhannya vstanovlenih proportsіy rozpodіlu otrimanogo pributku mіzh aktsіonerami (zasnovnikami) is the bank tobto vstanovlennya spіvvіdnoshennya mіzh pributkom, yaky spozhivaєtsya that kapіtalіzuєtsya. Perevaga tsogo method in prostotі formuvannya fund divіdendіv that have tіsnomu vzaєmozv'yazku rozmіrom s obsession Bank pributku. Basically nedolіk polyagaє in nestabіlnostі divіdendnih viplat one aktsіyu scho pov'yazano s nestabіlnіstyu sumi preformed pributku. Such nestabіlnіst vplivaє on Oscillations rinkovoї vartostі aktsіy and takozh svіdchit about Visoko rizikovanіst dіyalnostі bank. Method postіynogo koefіtsієnta divіdendnih viplat mozhut zastosovuvati deprivation banks Zi stabіlnim pributkom.

Rіshennya about form viplati divіdendіv priymayut Zagalnі Zborov uchasnikіv bank at tsomu won Mauger suttєvo vplinuti on rozmіr Vlasnyi kapіtalu (Fig. 2.2).

Fig. 2.2. Osnovnі FORMS viplati divіdendіv

Zdіysnyuyuchi analіz Vlasnyi kapіtalu, slіd vrahovuvati obmezhennya, vstanovlenі chinnim zakonodavstvom on viplatu divіdendіv:

1. Bank zaboronyaєtsya viplachuvati divіdendi chi rozpodіlyati kapіtal at whether yakіy formі, Yakscho taka viplata chi rozpodіl prizvede torn down to the norm adekvatnostі kapіtalu;
2. in razі, Yakscho for poperednіy Year dіyalnіst bank bula nepributkovoyu, bank dozvolyaєtsya viplachuvati divіdendi chi rozpodіlyati kapіtal at whether yakіy formі in sumі, scho not perevischuє 50% od rіznitsі mіzh kapіtalom bank i rіvnem regulatory kapіtalu.

NBU fallow od rіvnya dostatnostі kapіtalu bank rekomenduє vzhivati ​​such zahodіv nedokapіtalіzovanim that uniquely nedokapіtalіzovanim banks:

1. pripiniti to whether yakіy formі viplatu divіdendіv, krіm viplati divіdendіv in viglyadі Vlasnyi aktsіy (paїv, chastok);
2. pripiniti redemption rights Vlasnyi aktsіy (paїv, chastok uchasnikіv have statutory kapіtalі).

Suttєvo vplivaє rozmіr on that structure Vlasnyi kapіtalu order opodatkuvannya divіdendіv. Analіzuyuchi vpliv divіdendnoї polіtiki on the structure that rozmіr Vlasnyi kapіtalu bank slіd vrahovuvati, zokrema, Takeo:

1. razі of acceptance rіshennya schodo viplati divіdendіv emіtent corporate law, on SSMSC narahovuyutsya divіdendi, Provadia zaznachenі viplati Vlas nikovі such rights proportsіyno chasttsі yogo in statutory kapіtalі emіtenta Square od of chi has been viewed dіyalnіst emіtenta pributkovoyu protyagom zvіtnogo perіodu for nayavnostі іnshih Vlasnyi for Jerel viplati divіdendіv.

2. paysite podatku, yaky viplachuє divіdendi svoїm aktsіoneram (vlasnikam) narahovuє that utrimuє podatok on divіdendi in rozmіrі 30% narahovanoї sumi viplat for rakhunok such viplat Square od of Je emіtent chi paysite podatku on Prybutok.

Podatok on divіdendi not zastosovuєtsya in razі viplati divіdendіv in viglyadі aktsіy (chastok, paїv) emіtovanih bank yaky narahovuє divіdendi for minds, scho taka viplata nіyakim rank not zmіnyuє proportsіy (chastok) uchastі vsіh aktsіonerіv (vlasnikіv) have statutory kapіtalі emіtenta.

3. paysite podatku-emіtent corporate law zmenshuє narahovanogo scrip podatku on Prybutok for the amount of Contributions to the budget podatku on divіdendi. In razі, if splachenogo scrip podatku on divіdendi perevischuє scrip podatkovih zobov'yazan bank emіtenta for podatkom on Prybutok zvіtnogo perіodu, rіznitsya transferred to zmenshennya zobov'yazan for podatkom Prybutok on this bank in maybutnіh podatkovih perіodah in order peredbachenomu chinnim zakonodavstvom.

4. Shcho stosuєtsya perіodichnostі viplati divіdendіv then її obmezheno for aktsіonernih tovaristv - once on the Year of the calendar pіdsumkami rock. Tse power regulyuєtsya Law of Ukraine "About gospodarskі tovaristva" that Art. 9 Law of Ukraine "On Paper the tsіnnі i bіrzhu stock." For іnshih vidіv gospodarskih tovaristv zakonodavchі obmezhennya on perіodichnіst viplati divіdendіv not vstanovleno.