Alfa-Bank to rehabilitate Baltiyskiy Bank

Alfa-Bank has won the tender held by the Deposit Insurance Agency (DIA) aimed at rehabilitation of Baltiyskiy Bank (ranked 69th based on its assets by Interfax-CEA). According to DIA’s decision, Baltiyskiy Bank will keep on operating under its brand name and in all its branches. The terms and conditions of all deposit and loan client agreements will not change throughout their validity.

It means obvious advantages for Baltiyskiy Bank clients, whose deposits will be guaranteed upon rehabilitation introduction by the major private and one of the key backbone banks of the country, which has the highest credit rating among all non-governmental credit organizations in Russia and the CIS countries (Fitch Ratings has rated Alfa-Bank BBB-, Standard and Poor’s — BB+, Moody’s — Ba1). In 2013, Alfa-Bank’s net profit exceeded USD 850 million.

Alexey Marey, CEO, Member of the Management Board, Member of the Board of Directors of Alfa-Bank says: «The result of the Baltiyskiy Bank rehabilitation will be the growth of our client base by 2 million people. The rehabilitation will allow to considerably strengthen Alfa-Bank’s presence in all business segments in the Northwest region, which is extremely important for us, including the cities where we did not have any presence».
Alfa-Bank already had significant successful experience of rehabilitation of Severnaya Kazna Bank in 2008–2009, whereby the Bank managed to increase considerably its presence in the Ural region.