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Alfa-Bank bank

Альфа-Банк  
Name Alfa-Bank
Full name Joint-Stock Company "Alfa-Bank"
Licence 1326 | Summary on the Central Bank of Russia Site

Ranking

on 01.09.2017 г.
Net assets 2 780 625 134 RUR, tnd, 7th place in Russia, 6th place in regions
Net profit 5 998 474 RUR, tnd, 13th place in Russia, 12th place in regions
All indicators
Headquarter
107078, Moscow, Kalanchevskaja street, 27
URL www.alfabank.ru
Banki.ru reference

Alfa Bank was registered in January 1991 in Moscow. The bank was founded by renowned Russian businessman Mikhail Fridman and his partners. The bank has been a member of the national deposit insurance system since December 2004. The Bank of Russia decided to rehabilitate Bank Baltiyskiy in 2014. The rehabilitation procedure was initiated by the Deposit Insurance Agency after the financial institution’s inspection in 2014. As a result of the victory at a tender held in August 2014 the Bank of Russia announced Baltiyskiy Bank’s rehabilitation with the participation of Alfa Bank. This way Baltiyskiy Bank PJSC joined Alfa Bank’s banking group. As a separate note, this is the first lending institution that Alfa Bank decided to rescue since the 2008 crisis when it rehabilitated Severnaya Kazna. According to media reports, apart from Alfa Bank, Otkritie Bank, MDM Bank, B&N Bank, Vneshprombank and Novicombank were initially interested in rescuing the bank. The DIA granted a Rub 57.4 bln 10-year loan at a rate of 0.51% to rehabilitate Baltiyskiy Bank, which became necessary as a result of a long ownership conflict. The Bank of Russia provided the DIA with these funds. The bank’s rehabilitation plan suggests that it will be folded into Alfa Bank before 2020. For this purpose Baltiyskiy Bank’s charter capital will be reduced to Rub 1.00, and later as a result of recapitalization Alfa Bank will become the bank’s majority shareholder. Reducing capital to Rub 1.00 is provided for in the rehabilitation law.

As of October 2016 the bank’s shareholders was AB Holding JSC (99.89%), which is owned by Alfa Group’s ABH Financial Limited (Cyprus) that is controlled by ABH Holdings S. A. (Luxembourg), and the remaining 0.11% is in the hands of Alfa Capital Holdings (Cyprus) Limited. The beneficial owners of ABH Holdings S. A. (Luxembourg), the main owner of ABH Financial Ltd., are Alfa Group* co-owners Mikhail Fridman, German Khan and Alexey Kusmichev (holding 32.86%, 20.97% and 16.32%, respectively), and also the banking group’s board chairman Pyotr Aven (12.40%), and Andrey Kosogov (3.67%). A 9.9% stake is held by UniCredit S.p.a. (the shares are publicly traded), and another 3.87% interest is controlled by a charity fund that was established under the laws of the Cayman Islands (the shares are held on trust management terms in favor of charitable organizations).

Russia-based Alfa Bank is the core of banking group Alfa Bank that also comprises businesses operating in Kazakhstan, Ukraine, Belarus, the Netherlands, the United States, the UK and Cyprus.

Alfa Bank is a universal bank, serving over 255,000 corporate and more than 13.6 mln private customers. In Russia and abroad the bank runs 804 offices and branches, including a subsidiary bank in the Netherlands (Amsterdam Trade Bank N. V.) and Baltiyskiy Bank PJSC.

In Russia, the bank operates 351 offices for households, 79 of them in Moscow, and the rest in the regions. Around 3,000 ATMs are in operation for cardholders. Alfa Bank signed agreements to unite its ATM network with such banks as Promsvyazbank, Rosselkhozbank, Rosbank, and Baltiyskiy Bank (to withdraw cash) and (to withdraw cash and credit accounts) with MDM Bank, Gazprombank, B&N Bank, Credit Bank of Moscow, and Urals Bank for Reconstruction and Development. The united ATM network (including its own machines) consists of over 22,800 machines in more than 2,800 localities in Russia. In addition, the bank’s customers can put funds on card accounts and repay loans without any commission fees at over 9,600 terminals. As of October 1, 2016 Alfa Bank headcount stood at around 20,600.

Alfa Bank conducts all main banking operations in the financial services market, including retail and corporate services, investment banking, trade finance and asset management. The bank issued over 6 mln bank cards. As part of payroll projects the bank issued more than 1.3 mln cards in 2014.

The bank’s clients are financial and investment firms, retailers and trade firms, manufacturers and home builders, energy and O&G companies, state and public organizations. Customers include such businesses as diamond giant Alrosa, air carriers Aeroflot and Poveda Airlines, athletic goods retailer Sportmaster, Nazarovskaya HPP of Siberian Generating Company, Nizhpharm, Makfa, Alfa Leasing, Mospromstroy, Lenspetssmu, Element Leasing, Inter RAO UES, Mosenergosbyt, TDL Tekstil, United Wagon Company, Yuzhproektkommunstroy Design Institute, etc.

From January through November 2016 the bank’s net assets rose 2%, or by Rub 48.7 bln, to Rub 2.3 tln as of November 2016. As for liabilities, the main reason for a rise in grand total was an increase (19%) in the funds drawn in the inter-bank lending market, and also an inflow of household funds (+2.5%). These sources helped the bank easily offset an outflow of corporate resources, a decline in capital (-10.6%) and a decrease in balances held on loro accounts. On the assets side, the biggest rise was seen in high-liquidity assets (funds held on the correspondent account at the Bank of Russia) and the money deposited at banks amid a contraction in the credit portfolio and the securities portfolio.

The lender’s resource base is well diversified, with 33% falling to the money of corporate customers, 27% to household funds, and roughly 9.2% to the money of banks (inter-bank loans drawn). Meanwhile, funds borrowed from the Bank of Russia fell sharply, and 13.8% falls to equity. Also, around 3% falls to issued bonds and promissory notes. The bank’s clientele is broad, mainly real estate developers, retailers and manufacturers. A flow of payments from the bank’s clientele is heavy, with monthly turnover on client accounts of Rub 2—2.7 tln. The bank’s dependence on household funds is assessed as moderate, and the level of concentration is conservative, with ten biggest deposit holders accounting for 13.2% of total client funds.

As of the balance sheet date the bank’s capital stood at Rub 321.6 bln, down 10.9% YTD mainly because of a contraction in additional capital due to losses.

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