Best domestic bank in Russia — Alfa-Bank

The largest privately owned bank in Russia, Alfa-Bank has staged an impressive recovery from the 1998 crisis. The bank's capital net worth, which fell to $50m at the end of 1998, had risen to $200m by the end of last year. Much of this has been achieved through trading and brokerage operations, as a result of which Alfa is showing net profits for last year of $135m. Chairman Mikhail Fridman has made clear that the bank would like to venture bank to the Eurobond market, with a $200m issue tentatively planned for later this year.