The Banker, an authoritative international publication, has named Alfa-Bank the Bank of the Year in Russia 2019. The award was given for the impressive growth, successful implementation of strategic initiatives, and technological leadership, which allow Alfa-Bank to thrive even in current market conditions.
The experts highly appreciated Alfa-Bank’s achievements in the field of digital business transformation, modernization of the Alfa Mobile application, and implementation of innovative products and services, such as instant card issuance (Digital Delivery), the “family account” shared by up to four family members, digital services for mortgage borrowers, fingerprint payment authorization for corporate clients, the virtual card for SME clients, and a series of other innovations.
According to The Banker, success of Alfa-Bank’s strategy is evidenced by the continuous growth of all financial indicators, including first-tier capital adequacy (+13.1% to $7,031 mln), assets (+5.5% to $47,199 mln), return on equity (19.5%) and operational efficiency (39.4%) according to 2018 IFRS statements, which were provided to the Award’s judging panel.
“This award is another proof of Alfa-Bank’s leadership. We are the most phygital bank in present-day Russia boasting a combination of the best digital and physical customer experience. Over the past year, the number of Alfa-Bank’s clients who trust us has increased by a million. Our mobile application ranks highest amongst world’s banks in AppStore. Alfa-Bank’s card issued in the mobile application within seconds is ready for instant use. A courier will deliver the physical card within 24 hours. About 15 years ago, we were the first in the country to launch internet and mobile banks, and now we are the first to build the phygital branch, a next-generation physical network. We are creating the best bank in the country, which is ahead of time and sets financial industry development trends,” Vladimir Verkhoshinskiy, CEO of Alfa-Bank said.
The Banker is an authoritative British monthly publication dedicated to international finance. It has been published in London since 1926 by The Financial Times group. The publication annually presents The Banker Awards to the world’s best financial institutions. This year, The Banker presented awards in 138 countries, in addition to six regional awards and the top prize to the world’s best bank.