News

  • Banks face long haul to regain lost confidence

    Foreign investors and local customers remain cautious at piecemeal attempts to restructure What little confidence Russians had in their banks, which they have instinctively regarded with deep suspicion, was dealt a devastating blow by the financial crash of August 1998. Most of the country's private financial institutions were forced to close and there is little … Continued

  • Staff improve prospects with MBAs

    Banks have tried to increase experience by moving employees abroadSarah Butcher If you were young, talented, and Russian in 1996, then you could have done a lot worse than taking a job in one of Moscow's many banks. The financial sector was booming, Western banks were vying for graduates from Moscow's top schools, and the … Continued

  • Survival tactics still don't convince sceptics

    One bank has weathered the 1998 crisis that wiped out many of its competitors In Russia, suspicion invariably follows any business that prospers. Alfa-Bank is no exception, having survived the destruction of most of the financial sector in the 1998 crisis and gone on to be one of the most successful private banks in Russia. … Continued

  • Alfa-Bank receives the Marketing Russia (MR) award in the business services advertiser category

    Thus, Alfa-Bank appeared on the shortlist of the most effective advertisers of 1999. As stated by MR Awards Committee, Alfa-Bank received the prize for making the best use of limited advertising resources by consistently stressing performance over image and continuing to support a wide range of charitable and cultural activities through sponsorship. According to MR, … Continued

  • Russia moves out of the red market focus

    There may be doubts about human rights in the new Russia of President Vladimir Putin, but the prospects for investors appear increasingly positive during the months ahead. The rouble is stable, a lower and simplified tax regime has been approved by parliament, and official statistics released last month show gross domestic product growth of 8.5 … Continued

  • Alfa-Bank repays Eurobonds after crisis

    Alfa-Bank, one of Russia's largest commercial banks, said yesterday it had repaid its outstanding Eurobonds, making it the country's first corporate issuer to fully honour its obligations following the financial crisis of August 1998.Alex Knaster, chief executive of Alfa, said: “This is a really important moment for us. Everyone else has defaulted. Our philosophy is … Continued

  • Alfa-Bank plans to obtain a syndicated loan in 2000

    MOSCOW — Russia's Alfa-Bank said it is planning a syndicated loan later this year and will tap international capital markets with a Eurobond Issue in the first half of 2001. The bank paid off a maturing $193 million (EUR208.9 million) Eurobond Friday. The payment was particularly important, Alfa-Bank Chief Executive Alex Knaster said. It distinguishes the … Continued

  • Russia's Alfa-Bank repays Eurobond

    Alfa-Bank, Russia's largest privately-owned bank, confirmed on Monday that it had fully repaid on schedule a three-year $175m eurobond maturing on July 28. The bank also reported that it plans to enter western capital markets “in the near term” with a syndicated loan later this year followed by a Eurobond issue in the first half … Continued

  • Alfa-Bank repays its Eurobonds in full and on time

    Alfa-Bank’s CEO Alex Knaster said, “We are pleased to be the first Russian corporate issuer to fully honour its obligations to Eurobond holders. It is even more important as Alfa-Bank was the only Russian bank, which did not default on its Eurobonds. We believe our commitment to our investors and depositors will continue to be … Continued

  • Central & Eastern Europe Awards

    Russia Best Domestic Bank: Moscow Business World Bank Highly Commended: Alfa-Bank Best Foreign Bank: Citibank Highly Commended: RZB Best Domestic Securities House: Troika Dialog Highly Commended: Renaissance Capital Best Foreign Securities House: Brunswick Warburg Moscow Business World Bank (Moskovsky Delovoy Mir) is often unfairly described as a one-man show. True, chairman Andrei Melnichencko has been … Continued