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Alfa-Bank was listed along with other top domestic banks from Central and Eastern Europe and Central Asia in the U.S. magazine's ninth annual survey of The Best Emerging Markets Banks.
“Despite the difficult market conditions of the past year these banks continue to provide outstanding service, — says Joseph D. Giarraputo, publisher of Global Finance. “These awards recognise their success.”
Global Finance, which has more than 235,000 readers in more than 160 countries, said its survey was based on extensive analysis throughout the emerging market economies and world money centres. Alfa-Bank is a core holding of Alfa Group Consortium. Founded in 1990, it has grown into Russiaôs largest private bank and provides a full range of banking services — commercial banking, investment banking, asset management, trade finance and insurance.
The Bank has more than 80 branches across Russia and subsidiaries in Ukraine, Kazakhstan, the Netherlands, the United States and the United Kingdom. The Bank's fast growing brokerage business has a FSA authorised arm in London and a NASD regulated operation in New York. Inside Russia, Alfa-Bank is a leader in mergers and acquisitions and is one of the biggest issuers of banking cards. The Bank also runs the country's largest mutual fund. Alfa-Bank made record net profits of US $77 million in 2000, up from US $50 million in 1999. Total assets at 31 December 2001 were US $2.7 billion, compared to US $1.9 billion at the end of 2000.
