Insurance Fund – Avto Insurance http://avtoinsurance.net/ Wed, 15 Sep 2021 04:49:07 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://avtoinsurance.net/wp-content/uploads/2021/06/icon-2-140x136.png Insurance Fund – Avto Insurance http://avtoinsurance.net/ 32 32 Surviving Payday Loans – Tips for Using Your Loan Responsibly https://avtoinsurance.net/surviving-payday-loans-tips-for-using-your-loan-responsibly/ https://avtoinsurance.net/surviving-payday-loans-tips-for-using-your-loan-responsibly/#respond Tue, 31 Aug 2021 09:37:32 +0000 https://avtoinsurance.net/?p=637 Have you ever been short of cash?  Whatever the reason, here you find yourself in a financial crisis. It’s possible to manage if your paycheck arrives within the next few business days. But what about if it takes longer? It’s possible for some people to overlook this possibility, especially since the average Romanian salary was 5,127 […]]]>

Have you ever been short of cash? 

Whatever the reason, here you find yourself in a financial crisis. It’s possible to manage if your paycheck arrives within the next few business days. But what about if it takes longer?

It’s possible for some people to overlook this possibility, especially since the average Romanian salary was 5,127 Ron in June. You may not anticipate certain circumstances. What can you do when this happens? We have to find alternatives try Bridge Payday for free today.

You can lend money out to family or friends. You can also borrow money to your credit card. A payday loan is an option if you don’t have the funds. If you don’t know this, a payday loan can be a loan to help you make ends meet until your next paycheck.

If you have ever applied for a loan before, you should be focused and remember why. Here are some tips to help you manage your payday loan responsibly.

Take out a loan for the essentials

Payday loans have a bad repute, but the problem with them is not the loan. A responsible lender will not make the required payments no matter what type loan you get. Responsible money management is about managing your finances well.

It should be urgent. If you feel your needs are urgent, BridgePayday can help you apply for a loan. Once you have received approval, you can spend your money on your needs.

Keep track and remember your due date

Know the due date for your loan repayments. Execution of this deadline could result in additional fees and penalties. Pay on time to avoid paying late fees. Many loans require that payment be made within two weeks. Include the repayment in your payroll budget.

Save the information to your phone’s calendar. You can even set multiple alarms for your phone. Avoid the stress of having the lender contact you about unpaid loans.

Always be prepared for anything

Romanians pay a significant portion of their income for food and other non-alcoholic drinks. Even if you have enough income to cover your daily needs what about if something happens? How do you plan to manage your finances financially?

While you may be able to get a loan for your immediate need, ensure that you only borrow the amount necessary to pay off your immediate problems. You don’t need much money to cover your immediate problem. So that you don’t forget your due date, make sure to include the loan in any budget.

Make sure you are familiar with these terms and conditions

Did you go through everything before taking out a loan? Because you’re dealing with money, it is important that you understand the details and what type of deal you get. This includes information about the site’s privacy policy, services available, account registrations, record keeping, disclosures and consent.

Borrow money that is affordable to repay

Look at your budget and see if there are ways you can lower your loan repayments. Don’t borrow any amount that you won’t pay back. Be responsible with your spending and you won’t be forced to borrow any more money. So you can repay your loans, it is important to manage your finances. To repay your loans, you must balance your income with your expenses.

To take with

Unexpected circumstances or medical emergencies may cause you to run out. If you manage your money well, borrowing money can be a natural thing.

Do not borrow money unless you have an immediate need. Before signing your consent, be sure to read the terms. Once approved, know your due date. You can avoid unnecessary stress by being responsible borrower.

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Jacob Zuma and South Africa’s time of reckoning https://avtoinsurance.net/jacob-zuma-and-south-africas-time-of-reckoning/ https://avtoinsurance.net/jacob-zuma-and-south-africas-time-of-reckoning/#respond Wed, 25 Aug 2021 14:27:47 +0000 https://avtoinsurance.net/jacob-zuma-and-south-africas-time-of-reckoning/ Jacob Zuma and South Africa’s time of reckoningUntil Covid hit, I was part owner of a small Indian restaurant in Cape Town. Not the most likely appeal for a novelist, but it was something I got involved in to help a friend. The business had been in trouble for some time and we had no cash reserves when the first foreclosure hit, […]]]> Jacob Zuma and South Africa’s time of reckoning

Until Covid hit, I was part owner of a small Indian restaurant in Cape Town. Not the most likely appeal for a novelist, but it was something I got involved in to help a friend. The business had been in trouble for some time and we had no cash reserves when the first foreclosure hit, so I was suddenly responsible for the bills – including the salaries of our five employees – and paid. , paid and paid. Lots of other restaurants laid off their employees, but I couldn’t bring myself to do it. Our employees were just getting by and had mouths to feed. What were they supposed to do? In addition, our government assured us that salaries would be covered by relief funds, which would be paid by the Unemployment Insurance Fund (UIF) for this purpose. We just had to apply.

I’m still waiting. There were rare and arbitrary amounts of relief each month, different each time, with no explanation. Calling the UIF was unnecessary; it was almost impossible to reach anyone, and if you did, they invariably couldn’t help you. I made a difference for four months, but I couldn’t keep doing it forever. When we finally closed in July of last year, the staff severance pay also went out of my account.

Later it emerged that large sums had been stolen from the UIF – some by unscrupulous employers, but much was said to have been diverted to bogus beneficiaries, many of whom were linked to the ruling African National party. Congress (ANC). This pattern was repeated, it seems, in almost all the ministries. The scandals are numerous: 300 million rand (14.4 million pounds sterling) has “disappeared” from a fund intended to help artists; Personal Protective Equipment (PPE) was purchased at inflated prices from companies that were hastily created by unskilled people with, allegedly, connections to the government. The rot goes all the way to the top; Earlier this month, South African Minister of Health Zweli Mkhize resigned after being investigated for allegedly contracting for the benefit of family members accused of using some of the relief money to open a nail salon.

Perhaps the most depressing thing is that none of this comes as a surprise. South Africans have come to expect a mixture of incompetence and corruption from public officials. What has emerged from the Zondo Commission – a public inquiry launched by the South African government in 2018 to investigate allegations of corruption – over the past three years is just a variation on the same theme: the hijacking of funds by officials and their friends or family, often on a staggering scale. Indifference to the plight of the poor is only part of the deal.

Before Covid, there were signs that the ANC might try to reform itself. Cyril Ramaphosa, the president of South Africa, strengthened the National Prosecuting Authority, which emptied under his predecessor Jacob Zuma. The law has now caught up with Zuma, who has been accused of enriching himself and his allies to the tune of billions. The resulting schism within the ANC, with two factions vying for control, is a source of concern for all South Africans – but also a reason to hope that things could finally start to change. At the start of the first lockdown, there was even a long-lost sense of community spirit, a hangover from the first democratic election of 1994, when it seemed for a brief moment that we could clean up this mess together.

[see also: Jacob Zuma: unrest shakes South Africa after the ex-president’s detention]

The process of procuring vaccine supplies, however, was marred by poor decisions and last-minute turnarounds. So when I finally became eligible for my first shot in July, it was a pleasant surprise that everything went well. Wham, bam, it’s all done in an hour. After I returned home, it was learned that Zuma had finally gone to jail to serve his 15-month sentence for contempt of court, after refusing to appear before the Zondo Commission. For a brief unreal moment, I felt like a brighter new future had arrived.

The illusion did not last. Two days later, on July 9, riots broke out around Durban – the heart of Zuma’s support – and spread to Gauteng in the north. Highways have been blocked, trucks set on fire, shopping centers looted. Tensions between the Indian and black communities escalated, leading to attacks on homes and individuals. Vigilance groups have committed their own reprisals. Once again, government assistance is distinguished by its absence. By the time the unrest was quelled, more than 330 people had lost their lives and 50 billion rand had been wiped out of the economy.

In the days that followed, a sort of exhausted depression set in the country. In dining rooms, online forums and on TV, it was the main topic of conversation, but the speech was muffled, almost stunned. Similar to many accounts in this country, there are two competing explanations for what happened. The first is that it was a planned insurgency, with elements of the security services on board, aimed at overthrowing Ramaphosa. For the first time, the ANC has taken steps to hold members accountable for corruption, and the decline has been fierce. The second explanation is that the riots were spontaneous, an expression of desperation on the part of starving people – and this obviously has its own truth as well.

The unfortunate fact is that both accounts could be right. An attempt to stir up trouble – perhaps as a warning to Ramaphosa – took on a frenzied life of its own. When I expressed this thought to a friend, she became defensive and insisted that only a few people were involved in the unrest. It seemed to him a point of honor that most South Africans were not prepared to break the law. She’s not wrong – but the honor seems like little consolation, when so much damage has been done by so little.

***

Zuma’s prison sentence is just the start of South Africa’s unrest. His corruption trial, which was due to open in July, was again delayed for medical reasons. Zuma may be ill, but to many it seems like a tiresome tactic to delay judgment. Eventually, Zuma will face court, and if his supporters were willing to burn the country down for a relatively minor sentence, how far will they go if he is convicted of much more serious charges? There are many people, some in high office, who have prospered in a corrupt state. They have nothing to lose and everything to gain by fighting any attempt to clean up the system. It is to their strategic advantage that the country is in a weak and distracted state.

South Africa is at a turning point. At best, Ramaphosa will succeed in pushing through his reforms and the government will begin to care for its most vulnerable. The worst-case scenario is much more depressing. As far as I can remember, this country has been on the brink and has always managed to move away. But I can’t remember a time when I had less hope for the future. It’s sad to feel that; sadder still to admit it.

The collateral damage of corruption is still the life of ordinary and poor people. What was most disturbing about the looting was how inevitable it seemed; or rather, how of a piece with the broader atmosphere of frustration. Things have been stretched too far, too long. There is a shimmer of real madness in the air. If a middle class man like me can sense it, how much closer to the surface must it be for the poor, like the people who worked in my restaurant?

When their severance payments were exhausted, my employees were covered for a few months by UIF benefits; since then, they have struggled to get out. One found work in a factory, another at a food stall. A third fell seriously ill with what looked like Covid and was hospitalized for some time; I always help him. A government grant of R 350 per month is a small support, but too paltry to survive. South Africa experienced an unemployment crisis even before the pandemic began, which means it is nearly impossible to find jobs.

Ironically, writing is one of the safest professions, so I’m in a better position than most. I live in an affluent part of Cape Town and the serene view from my window gives no indication of the human issues surrounding it. But even in this region, the number of homeless has increased, with many sleeping on the streets during a wet and harsh winter. The doorbell rings several times a day, people want food, clothes or money, and on the short walk to my local supermarket I pass thickets of outstretched hands. Like many others, I do what I can, but there is no end to the need.

The restaurant turned into a clothing store, but every time I went there I didn’t see any customers. The new owner tells me she can survive because most of her business is online. Many stores, however, remain empty and are as visible as missing teeth. There is also a glut of homes on the market and the prices are low. A lot of people can’t pay back, but some leave the country and take their money with them. I’m not among them – yet – but for the first time the idea is in my head, and it’s not going to go away.

Damon Galgut is a novelist and playwright. His most recent novel, “The Promise”, is shortlisted for this year’s Booker Prize.

[see also: How the world failed Africa on Covid-19 vaccination]

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Press release | Press releases | Writing https://avtoinsurance.net/press-release-press-releases-writing/ https://avtoinsurance.net/press-release-press-releases-writing/#respond Tue, 24 Aug 2021 22:01:36 +0000 https://avtoinsurance.net/press-release-press-releases-writing/ 08.24.21 Federal grant program created by Bill Durbin to support emergency medical services in rural communities WASHINGTON – U.S. Senators Dick Durbin (D-IL) and Tammy Duckworth (D-IL) today announced that three rural fire and emergency medical services agencies in Illinois have received a total of $ 381,091 in federal grants. This federal funding was created […]]]>

08.24.21

Federal grant program created by Bill Durbin to support emergency medical services in rural communities

WASHINGTON – U.S. Senators Dick Durbin (D-IL) and Tammy Duckworth (D-IL) today announced that three rural fire and emergency medical services agencies in Illinois have received a total of $ 381,091 in federal grants. This federal funding was created by Durbin’s Law on the support and improvement of EMS needs in rural areas (SIREN), which was enacted in 2018. Today’s funding is helping EMS agencies respond to the opioid epidemic, COVID-19 pandemic, and other rural health challenges, including by training and recruiting staff, organizing certification courses and purchasing equipment.

“Across our state, rural EMS agencies are on the front lines responding to the COVID-19 pandemic, the opioid crisis, and addressing the emergency needs of an aging population. Yet many face labor and geographic challenges in their communities and lack stable funding to support their operations. This is why I first presented the SIRENS Act and continue to work to provide the funding our rural communities so badly need ”, said Durbin. “Congratulations to the three Illinois agencies recognized today and I thank our first responders for their tireless work in service to our communities. “

“Federal investments like these are helping Illinois’ dedicated rural EMS workers serve on the front lines in their communities,” said Duckworth. “Our state’s first responders need support to make their important work possible, and I am proud to announce this infusion of federal funds alongside Senator Durbin.”

The following Illinois EMS agencies have received funding:

  • Amboy Ambulance & Fire Protection District (Lee County): $ 116,432
  • Nauvoo Fire Protection District (Hancock County): $ 115,835
  • Jersey Community Hospital District (Jersey County): $ 148,824

Durbin helped secure a $ 500,000 increase in the omnibus appropriation bill for fiscal 2021, for a total of $ 5.5 million, for SIRENS Act grants to rural fire and EMS organizations. Every year since the SIRENS Act was enacted, Durbin led efforts in the annual federal appropriation process to fund this program.

In 2019, Durbin visited Nauvoo Fire Protection District to discuss the adoption and implementation of the SIRENS Act. He was joined by Mark Kennedy, a paramedic with the Nauvoo Fire Protection District and president of the Illinois branch of the National Association of EMTs, whose advocacy efforts helped pass the SIRENS Act.

Declining availability of primary care and hospital services, long distances between health facilities, and poor insurance reimbursement for transport and emergency treatment have all put a strain on rural EMS agencies. At the same time, EMS agencies are today charged with ever greater responsibilities: dealing with the COVID-19 pandemic, preparing for natural and man-made disasters and bioterrorist threats, supporting healthcare needs chronic and emergency situations of an aging population and respond on the front lines. lines of the opioid epidemic. These first responders are often the only health care providers in their area and face difficulties in recruiting and retaining staff, as well as obtaining expensive equipment.

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Mubadala Capital closes private equity fund III at $ 1.6 billion https://avtoinsurance.net/mubadala-capital-closes-private-equity-fund-iii-at-1-6-billion/ https://avtoinsurance.net/mubadala-capital-closes-private-equity-fund-iii-at-1-6-billion/#respond Sun, 22 Aug 2021 15:53:01 +0000 https://avtoinsurance.net/mubadala-capital-closes-private-equity-fund-iii-at-1-6-billion/ Capital of Mubadala, an asset management subsidiary of Abu Dhabi, UAE-based Mubadala Investment Company, closed its third private equity fund, at $ 1.6 billion. MIC Capital Partners III (“Fund III”) has raised capital from a diverse set of new and existing investors, including pension plans, endowments, insurance plans, government institutions, family offices and private equity […]]]>

Capital of Mubadala, an asset management subsidiary of Abu Dhabi, UAE-based Mubadala Investment Company, closed its third private equity fund, at $ 1.6 billion.

MIC Capital Partners III (“Fund III”) has raised capital from a diverse set of new and existing investors, including pension plans, endowments, insurance plans, government institutions, family offices and private equity firms in North America, Europe and the Middle East and Asia.

The fund focuses on direct investments in North America and Europe in the following key sectors, where the team has a strong network and a track record of performance, including:

i) Media, sports and entertainment;

ii) Consumer and food services;

iii) Financial services; and

iv) Industries and business services.

To date, Fund III includes approximately $ 1.4 billion of investments in nine high-quality assets, including:

  • REEF Technology, a proximity platform as a service enabling and accelerating the growth of the on-demand economy in North America;
  • YES Network, a regional sports network in the New York and tri-state area; and
  • Peterson Farms, a processor of fresh cut apples, frozen fruit products and non-concentrated juices in the United States, among others.

Led by Adib Mattar, Head of Private Equity, Mubadala Capital manages c. $ 9 billion in assets in funds managed by third parties in its private equity, public equity, and venture capital businesses in Brazil, and is the first sovereign wealth fund to manage third-party capital on behalf of other institutional investors. The company is headquartered in Abu Dhabi and has opened offices in New York and London.

FinSME

08/22/2021

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Liberty Mutual donates $ 20,000 to families in need https://avtoinsurance.net/liberty-mutual-donates-20000-to-families-in-need/ https://avtoinsurance.net/liberty-mutual-donates-20000-to-families-in-need/#respond Sun, 22 Aug 2021 03:52:55 +0000 https://avtoinsurance.net/liberty-mutual-donates-20000-to-families-in-need/ LYNNWOOD, Washington, August 21, 2021 – The Edmonds School District Foundation announced today that it has received a $ 20,000 award from the Liberty Mutual Foundation’s SafeCo Insurance Fund. The Liberty Mutual Foundation works to support local communities by investing in the expertise and leadership of local nonprofits to improve the lives of vulnerable populations […]]]>

LYNNWOOD, Washington, August 21, 2021 – The Edmonds School District Foundation announced today that it has received a $ 20,000 award from the Liberty Mutual Foundation’s SafeCo Insurance Fund. The Liberty Mutual Foundation works to support local communities by investing in the expertise and leadership of local nonprofits to improve the lives of vulnerable populations and empower individuals and families.

The Edmonds School District Foundation will use the funds to benefit schools through its Whole Families, Whole Communities program. Through collaboration with local partners, Whole Families, Whole Communities serves low-income and homeless children in the Edmonds School District. The program aims to provide food, emergency funds, career counseling and many other services to families with homelessness, financial instability and persistent poverty.

While many families are still reeling from the financial impact of the COVID-19 pandemic, the Foundation is working diligently to help meet the needs of students, parents and educators. It is expected that many families will continue to feel the economic burden of the pandemic for several years. As such, the Foundation works tirelessly to deliver important programs to students and families to help them recover.

“We are very grateful for the support of the Liberty Mutual Foundation,” said Deborah Brandi, school district executive director of the Foundation for Edmonds. “This funding will provide food and important services to so many families, allowing them to focus on the things that matter most and thrive during very difficult times.”

The Edmonds School District is the largest public school district in Snohomish County, serving over 21,000 students on 35 campuses. The boundaries span five communities, including Lynnwood, Edmonds, Mountlake Terrace, Brier and part of Bothell.

For 37 years, the Edmonds School District Foundation has worked in partnership with the district to ensure that every student has the resources they need to learn, thrive and contribute to our vibrant community. With a fully volunteer board and active community participants, the Foundation provides additional funding to support students, families and educators in the pursuit of educational excellence. www.fondationesd.org

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Callaway earnings forecast. Why the stock is falling. https://avtoinsurance.net/callaway-earnings-forecast-why-the-stock-is-falling/ https://avtoinsurance.net/callaway-earnings-forecast-why-the-stock-is-falling/#respond Tue, 10 Aug 2021 17:56:00 +0000 https://avtoinsurance.net/callaway-earnings-forecast-why-the-stock-is-falling/ Text size Callaway Golf Balls. Warren Little / Getty Images Callaway Golf entered a new chapter after merging with Topgolf earlier this year, combining its equipment business with a leisure and hospitality segment. Preliminary results suggest that the combination has untapped potential. The company, which announced its results after the market closed on Monday, crushed […]]]>

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Hines launches $ 1.2 billion investment fund https://avtoinsurance.net/hines-launches-1-2-billion-investment-fund/ https://avtoinsurance.net/hines-launches-1-2-billion-investment-fund/#respond Mon, 09 Aug 2021 16:31:24 +0000 https://avtoinsurance.net/hines-launches-1-2-billion-investment-fund/ Hines announced the launch of Hines US Property Partners (HUSPP), a new flagship mixed fund for the United States with $ 750 million in equity, including a $ 100 million investment from Hines, giving the fund more than $ 1 , $ 2 billion in immediate investment capacity. HUSPP is a diversified open-ended fund targeting […]]]>

Hines announced the launch of Hines US Property Partners (HUSPP), a new flagship mixed fund for the United States with $ 750 million in equity, including a $ 100 million investment from Hines, giving the fund more than $ 1 , $ 2 billion in immediate investment capacity.

HUSPP is a diversified open-ended fund targeting next-generation assets in the best performing submarkets of the major US markets.

The fund’s strategy is to “buy, build and manage to the core” through research-driven portfolio construction, smarter selection of sub-markets and sectors, vertically integrated value creation and a product designed for future demand. HUSPP plans to invest in the housing, industrial, office and mixed-use sectors, as well as certain niche sectors, such as life sciences and self-storage, to build a portfolio. diversified that seeks a balance between yield and growth.

Investors in HUSPP’s early shutdowns include institutional investors consisting of public pension plans, insurance companies, nonprofits and family offices.

As part of this initial fundraiser, Hines’ $ 100 million commitment to the fund underscores the strong alignment of the company’s interests with those of its investors. As a perpetual open-ended fund, the HUSPP is expected to continually raise capital and, over time, will develop into a large-scale, multi-billion dollar institutional fund targeting core plus returns in the US market.

DAVID STEINBACH

David Steinbach, Global CIO at Hines, said: “As real estate continues to transform into service, we believe investors find increased value in working directly with large-scale operators who can bring innovation, flexibility and simplicity to businesses. ultimate customers who are our tenants. . This fund will provide investors with direct access to our best thinking and execution skills.

The fund’s strategy will focus on Hines ‘proprietary top-down research and leverage Hines’ field execution platform to create and hold what Hines sees as the core assets of the future. The fund will seek to maximize asset-level value through active management and undertake selective development to create next-generation assets that meet future tenant demand.

“As we emerge from the pandemic, the real estate industry is at a critical inflection point and successful managers will need to examine their portfolios in an increasingly dynamic environment,” said Alfonso Munk, CIO of Americas at Hines.

“We are excited to launch this fund and begin to implement our buy, build and manage core strategy to meet investor demand and lead the industry in redefining future standards for the industry. basic real estate. “

HUSPP will seek to deliver long-lasting, long-lasting assets that align with Hines’ corporate ESG initiative which focuses on tackling the climate emergency and reducing the carbon footprint of the built environment.

“We are grateful for the support we received from our initial investors,” said Adriana de Alcantara, HUSPP fund manager at Hines. “As we continue to strategize and invest on behalf of the fund, we will use our core strengths – global reach, operational expertise and vertically integrated management capabilities – which have served our investors throughout our company’s history. . “

“Executing the entrepreneurial vision of my grandfather and our founder, Hines has been an active and dynamic investor and developer for the past six decades,” said Laura Hines-Pierce, Senior Managing Director of Hines CEO Office . “This is a monumental achievement for Hines as we seek to grow our business by meeting investor needs through an expanded flagship fund lineup and continue to build on my grandfather’s legacy. “

Kirkland & Ellis LLP acted as legal counsel to Hines in connection with the fund.

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VTB Bank announces the financial results of RAS (autonomous) for July and 7M 2021 https://avtoinsurance.net/vtb-bank-announces-the-financial-results-of-ras-autonomous-for-july-and-7m-2021/ https://avtoinsurance.net/vtb-bank-announces-the-financial-results-of-ras-autonomous-for-july-and-7m-2021/#respond Mon, 09 Aug 2021 07:00:12 +0000 https://avtoinsurance.net/vtb-bank-announces-the-financial-results-of-ras-autonomous-for-july-and-7m-2021/ VTB Bank announces the financial results of RAS (autonomous) for July and 7M 2021JSC VTB Bank (VTBR) 09-Aug-2021 / 09:00 CET / CEST Broadcast of a regulatory announcement, sent by EQS Group. The issuer is solely responsible for the content of this advertisement. VTB Bank announces the financial results of RAS (autonomous) for July and 7M 2021 VTB Bank (PJSC) (hereinafter referred to as the Bank) publishes its […]]]> VTB Bank announces the financial results of RAS (autonomous) for July and 7M 2021

JSC VTB Bank (VTBR)
09-Aug-2021 / 09:00 CET / CEST
Broadcast of a regulatory announcement, sent by EQS Group.
The issuer is solely responsible for the content of this advertisement.

VTB Bank announces the financial results of RAS (autonomous) for July and 7M 2021

VTB Bank (PJSC) (hereinafter referred to as the Bank) publishes its main autonomous RAS financial results for July and seven months of 2021.

Mikhail Kovalenko, Senior Vice-President, Head of Accounting and Reporting Department, said:

“Our July results mark the continuation of the Bank’s successful performance in the first half of the year, combining high profitability and strong organic growth in the activity. Basic banking income has shown high growth rates; provision charges remained at normal levels thanks to a stable loan portfolio. Costs increased as expected in July, reflecting significant spending on our digital transformation.

“We view our July results as confirmation of our updated earnings guidance and other key indicators for the Group for fiscal 2021.”

Turnover and profitability

In 7M 2021, the Bank posted robust growth in profitability indicators. Net profit was 154.3 billion rubles in 7M 2021, of which 24.8 billion rubles in July 2021, respectively 3.0 times and 460 times more year-on-year.

Net interest income amounted to RUB 334.9 billion in the first seven months of 2021 and to RUB 47.8 billion in July, up 26.3% and 13.5%, respectively, compared to the same periods of the previous year. The main drivers of net interest income growth were the increase in interest-bearing assets – the Russian Federation’s loan and debt portfolio. The Russian Federation’s debt securities income grew 3.6-fold year-on-year to 41.2 billion rubles in 7M 2021.

Income net of fees and commissions continued to grow at a higher rate and amounted to RUB 92.1 billion in 7M 2021 and RUB 14.3 billion in July 2021, an increase of 34.1% and 23.3% respectively , compared to the same periods of the previous year. The considerable increase in income net of fees and commissions is due to a constant increase in the volume of commissions from the sale of insurance products and commissions from the brokerage business.

Provision costs amounted to RUB 70.7 billion in 7M 2021 (down 48.5% year-on-year) and RUB 12.2 billion for July 2021 (down 65.1% from year after year). As of August 1, 2021, the ratio of the loan impairment allowance to the total loan portfolio was 5.5% (5.6% on July 1 and 5.3% on January 1).

Staff and administrative costs amounted to RUB 112.1 billion and RUB 17.0 billion in 7M 2021 and July 2021 respectively, up 7.5% and 22.3% year-over-year thanks to cost growth digital transformation. The monthly increase in administrative expenses in July 2021 is the result of a higher base rate of deposit insurance contributions payable by banks – members of the deposit insurance system to the Compulsory Deposit Insurance Fund.

Capital and capital adequacy ratios

As of August 1, 2021, total regulatory capital stood at 1,813.2 billion rubles, up 0.1% in July and 10.2% year-to-date, mainly due to profits made and the issuance of subordinated bonds.

As of 7M 2021, the total amount of RUB 147.7 billion of subordinated bonds issued by the Bank has been included in regulatory capital (subordinated bonds in the amount of RUB 8.4 billion have been included in regulatory capital in July 2021).

Total regulatory capital consists of Core Capital (CET 1) of RUB 1,226.6 billion and Principal Capital (Tier 1) of RUB 1,525.2 billion.

Capital adequacy ratios are well above minimum regulatory requirements. As of August 1, 2021, the ratio N1.0 (total capital) was equal to 11.75%, N1.1 (common equity) – 7.94% and N1.2 (Tier 1 capital) – 9.88%.

The capital adequacy ratio N1.0 increased mainly due to the growth of total equity and the transition to the Standard Measurement Approach (SMA) in accordance with Bank of Russia Regulation No. 744-П . The switch to the new standardized measurement approach based on financial results at April 1, 2021 has enabled the Bank to improve its capital ratio by 0.4 pp

At the start of the year, the N1.0 ratio was 11.28%.

Total risk-weighted assets stood at 15.4 trillion rubles as of August 1, 2021, up 2.6 percent in July and 5.7 percent year-to-date.

Balance sheet

Total assets amounted to 18.6 trillion rubles as of August 1, 2021, an increase of 13.6% in 7M and 2.4% in July 2021.

Total loan book reached 12.9 trillion rubles, an increase of 9.1% in 7M and 2.3% in July 2021. Personal loans amounted to 3.900 billion rubles, an increase of 19.2% and by 2.3% since the beginning of the year and in July 2021 respectively, while loans to legal persons amounted to 9 trillion rubles, an increase of 5.2% since the beginning of the year and 2.3% in July. Subsequently, the share of retail trade in the Bank’s total loan portfolio increased to 30.2% (27.6% at the end of 2020).

The main drivers of growth in the personal loan portfolio were the increase in mortgage and consumer loan issuance, debt ceding, as well as the seasonal slowdown in loan prepayments during the summer vacation period.

Securities portfolio rose 42.4% year-to-date to 3.3 trillion rubles, including 0.7% in July. This growth was driven by the Bank’s investments in Federal Debt Bonds of the Russian Federation (OFZ).

Total client funding amounted to 16 trillion rubles on August 1, 2021, an increase of 17.9% in 7M and of 2.4% in July 2021. The customer financing structure remained unchanged: 67.1% were deposits from legal entities and 32.9% of deposits from individuals.

The share of customer financing denominated in foreign currencies continued to decline, while the share of ruble financing increased further. Escrow account balances continued to grow amid an anticipated increase in mortgage loan issuance.

The unaudited financial performance indicators of VTB Bank presented above are gathered on the basis of the following forms 0409101 “Balance sheet of turnover of the credit institution” and 0409102 “Report on the financial results of the credit institution. credit ”as well as operational management reports as part of formal adjustments. The solvency ratios have been calculated on the basis of operational financial data. The financial indicators reported are preliminary; therefore, they may be supplemented and modified during the process of preparing the publishable financial reports of VTB Bank. Due to these changes, the final values ​​may differ from the preliminary financial indicators presented above.

Attachment

File: VTB-RAS-Financial-results-at-01-August-2021

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Biden and Buttigieg lead Democrats’ nationwide anti-car crusade in infrastructure bill (opinion) https://avtoinsurance.net/biden-and-buttigieg-lead-democrats-nationwide-anti-car-crusade-in-infrastructure-bill-opinion/ https://avtoinsurance.net/biden-and-buttigieg-lead-democrats-nationwide-anti-car-crusade-in-infrastructure-bill-opinion/#respond Sun, 08 Aug 2021 14:03:45 +0000 https://avtoinsurance.net/biden-and-buttigieg-lead-democrats-nationwide-anti-car-crusade-in-infrastructure-bill-opinion/ STATEN ISLAND, NY – Democrats say they’re not anti-car. They don’t want to get motorists off the road. Maybe not. But they certainly want to make driving as difficult and expensive as possible. Need proof? Just look at President Joe Biden’s massive $ 1.2 trillion “infrastructure” bill, which contains a pilot program that would charge […]]]>

STATEN ISLAND, NY – Democrats say they’re not anti-car. They don’t want to get motorists off the road.

Maybe not. But they certainly want to make driving as difficult and expensive as possible.

Need proof? Just look at President Joe Biden’s massive $ 1.2 trillion “infrastructure” bill, which contains a pilot program that would charge motorists for every mile driven, known as the miles driven per vehicle charge. or VMT.

In fact, the “T” there really means “tax”.

According to Yahoo News, the bill directs Transportation Secretary Pete Buttigieg and Treasury Secretary Janet Yellen “to establish, on an annual basis, user charges per mile for motor vehicles, light trucks and vehicles. Medium and heavy trucks, which amount to may vary between vehicle types and weight classes to reflect estimated impacts on infrastructure, safety, congestion, the environment, or other related social impacts.

This is all done to “maintain the solvency” of the Highway Trust Fund without increasing gasoline taxes. Because no one wants to be accused of raising taxes.

But a driving charge per mile is nothing more than a tax. It turns your car into a taxi. As soon as you get behind the wheel, the speedometer spins.

So add that to your car payments and insurance payments. Any parking fees that you are already paying. At the cost of gasoline and gasoline taxes you already pay.

Because when your car is on the road, it gradually damages the road. And the road will eventually have to be repaired. So you, being the person who damaged the road in the first place, must be involved in the repairs.

And you should participate in any new roads that need to be built whether you use them or not.

That’s all fair, isn’t it?

Biden had previously rejected increasing gasoline taxes or instituting mileage charges because the impact would fall on the backs of those who earn less than $ 400,000 a year.

White House spokeswoman Jen Psaki said these were “non-starters” for the president, a “red line” that Biden would not cross.

Buttigieg said in March that the kilometer tax looked “very promising.” There, no surprise. Buttigieg is also a big fan of congestion pricing.

But the secretary quickly backed down on the VMT after a public outcry, saying there would be no mileage charges or gasoline tax in Biden’s infrastructure plan.

So both Biden and Buttigieg are backtracking.

The pilot program would be funded until 2026 and would use volunteer drivers from across the country.

We all know how these “pilot programs” work. Once the government starts to do something, especially if it is making money, it very rarely stops. Pilot programs are quickly becoming a permanent policy.

And talk about intrusive. Mileage data can be collected by a wide variety of invoice methods, including third-party on-board diagnostic devices; applications for smart phones; telemetry data collected by automobile manufacturers; data collected by insurance companies or gas stations, and “any other method the secretary deems appropriate”.

We will know where you are going. And now you have to pay for every mile.

Wait, it’s better.

The bill also provides $ 5 billion “for a unique” Safe Streets for All “program to fund state and local” vision zero “plans and other improvements to reduce accidents and fatalities, in particular for the most vulnerable road users, ”according to a White House fact sheet.

Exactly what we need: more speed cameras that don’t address the root causes of crashes. No more cameras at red lights. No more cycle paths that will be largely underused.

Hey, Vision Zero has worked really well for New York, hasn’t it? The roads are just as deadly, if not more, today than they have been since the start of the program.

But Democrats don’t want to eliminate cars.

Of course they don’t.

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How Covid-19 affected the program https://avtoinsurance.net/how-covid-19-affected-the-program/ https://avtoinsurance.net/how-covid-19-affected-the-program/#respond Fri, 06 Aug 2021 19:15:37 +0000 https://avtoinsurance.net/how-covid-19-affected-the-program/ Tara Moore | Getty Images When the onset of the Covid-19 pandemic sent shockwaves through the U.S. economy, it also raised concerns about how the ensuing slowdown could affect Social Security. The program’s trust funds are already dwindling. At the same time, the Social Security Administration faced the unprecedented task of moving its in-person services […]]]>

Tara Moore | Getty Images

When the onset of the Covid-19 pandemic sent shockwaves through the U.S. economy, it also raised concerns about how the ensuing slowdown could affect Social Security.

The program’s trust funds are already dwindling. At the same time, the Social Security Administration faced the unprecedented task of moving its in-person services primarily to mail only.

Now, as a result of these initial shocks, some fears of disproportionate blows on trust funds or program benefits have proven to be unfounded.

Meanwhile, the government agency’s services and the cost of living adjustment for next year may be about to change.

Here’s what we now know about how the pandemic affected Social Security.

Social Security trust funds still weak

zimmytws | iStock | Getty Images

Social Security trust funds were already low when Covid-19 hit.

In April 2020, the Social Security Administration said in its annual projections that the estimated exhaustion dates remained the same. The old age and survivors’ insurance trust fund, which pays retirement benefits, is expected to run out in 2034, when 76% of the promised benefits would be payable. When combined with the Disability Insurance Fund, both sets of reserves are expected to run out in 2035, with 79% of promised benefits payable at that time.

But these estimates did not take Covid-19 into account. The economic downturn has fueled some fears that these exhaustion dates could be accelerated.

The main thing is that we do not think that the picture has changed much.

Shair Akabas

director of economic policy at the Bipartisan Policy Institute

The economic downturn could have caused the retirement fund depletion date to be between 2029 and 2033, based on estimates from the Bipartisan Policy Center, carried out last year. Estimates from the Congressional Budget Office at the start of the year indicate that the trust fund could run out in 2032, with the disability fund running out in 2035.

The Social Security Administration Trustees’ Annual Report for this year has yet to be released with post-Covid-19 estimates.

But because the economy is growing, including the middle and upper income salaries who make up most of the trust fund income, the impact of the pandemic could be small, according to Shai Akabas, director of economic policy at Bipartisan. Policy Institute.

“At the end of the day, we don’t think the situation has changed much,” Akabas said. “It’s still the disastrous image we had a year, two or three years ago.”

People born in 1960 can benefit from reduced benefits

The dramatic effect the pandemic has had on the economy and jobs in 2020 has raised concerns that the average wage index will drop dramatically.

This, in turn, could reduce Social Security benefits for people whose benefits are calculated based on that year, especially retirement benefits for people born in 1960.

The average wage index rose every year from 1951 to 2008, then fell 1.5% in 2009, due to the Great Recession, chief social security actuary Stephen Goss said last year. . In 2020, a “much larger drop” was possible, he said.

If the average wage index fell 5.9% from 2019, that would reduce the monthly retirement benefit of a median employee born in 1960 by about $ 119 per month, he said at the time.

More from Personal Finance:
Retirement and Return to Work: How Your Income May Conflict With Other Finances
Who would benefit from the proposed changes to the 401 (k) catch-up contributions
Inflation problems worry many retirees about running out of money

But the good news is that as 2020 progressed, the average wage index doesn’t appear to have fallen as much as people had expected.

The Congressional Budget Office estimated in January that it may have fallen only 0.5%. The official index of average salaries for 2020 will not be confirmed until later this year.

The recovery indicates a much smaller drop in benefits for the affected cohort.

If this is true, these beneficiaries will not see such a large reduction in benefits, Akabas said.

Moreover, it is unlikely that there will be any imminent action by Congress on the matter, although a floor should probably be put in place to prevent these kinds of results from occurring in the future, he said. he declares.

Social security offices still have a backlog of mail

VALERIE MACON | AFP | Getty Images

In March 2020, the Social Security Administration suspended in-person services at its field and courtroom offices due to the pandemic.

Today, in-person appointments are available on a limited basis. However, to get a time slot, your needs must be critical, such as if your problem is interfering with your ability to access food, shelter, or medical attention.

Other transactions – such as benefit claims and card replacement requests – were instead executed by mail.

But like the IRS, which has a backlog of millions of unprocessed paper tax returns, the Social Security Administration is also behind on its mail.

A recent investigation by the Inspector General’s Social Security Office found that the administration had “inadequate internal controls over mail processing.”

This was after the Office of the Inspector General visited 73 sites, including field offices, program service centers and social security card centers and found a widespread backlog of unprocessed applications and procedures. ineffective treatment.

The Inspector General’s Office is working with the Social Security Administration to resolve these issues, with a final report expected before the end of this year.

Next year’s COLA could be much higher

Elders

MoMo Productions | Digital vision | Getty Images

The annual adjustment of the social security cost of living is calculated each year on the basis of the Consumer Price Index for urban and office workers, or CPI-W.

Benefits rose 1.3% in 2021, giving about 70 million Americans a boost to their Social Security or Supplementary Security Income benefits.

For 2022, this adjustment promises to be much larger for one reason: rising inflation.

Rising prices for everything from food to gasoline helped push the latest estimate for next year to 6.1%, according to The Senior Citizens League, a non-partisan senior group.

If the annual increase reaches this level, it would be the largest increase since 1983.

However, there are still three months of data left before the Social Security Administration announces the official rate change for next year.

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