Alfa-Bank

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Alfa Bank JSC
Joint stock company
Industry Banking
Financial services
Investment services
Founded 1990; 27 years ago (1990)
Headquarters Moscow, Russia
Number of locations
364 offices in 7 countries[1]
Products Consumer banking
Corporate banking
Investment banking
Increase US$ 527 million (2016)[2]
Total assets Increase US$ 38.2 billion (2016)[2]
Total equity Increase US$ 5.7 billion (2016)[2]
Owner Mikhail Fridman, Pyotr Aven, German Khan
Number of employees
15,463 (January, 2011)[1]
Rating Ba2 (Moody's), BB(S&P), BB+ (Fitch) (2017)[3]
Website AlfaBank.ru
Alfa Bank advertising

Alfa Bank JSC, the corporate treasury of the Alfa Group, is the largest private commercial bank in Russia.[4] It was founded by Russian businessman Mikhail Fridman, who is still the controlling owner today. It is headquartered in Moscow. It operates in seven countries, providing financial services to over 40,000 active corporate customers and 5.3 million retail clients.[5] Alfa Bank is particularly active in Russia and Ukraine, ranking among top 10 largest banks in terms of capital in both countries.[6][7][8] In the 2009 edition of the Top-1000 World Banks, a survey by The Banker magazine, Alfa Bank was placed 270th.[9]

History[edit]

Timeline:[10][11]

1990s[edit]

2000s[edit]

  • 2000 – Alfa Bank acquires a 76% stake in Kyivinvestbank (later renamed "Alfa Bank Ukraine"). The Banker and Global Finance magazine name Alfa Bank "The Best Russian Bank". Alfa Securities, a broker and a subsidiary, opens in London.
  • 2001 – By the end of first quarter, loan portfolio reaches $1 billion; Alfa Bank opens a subsidiary in New York City, Alfa Capital Markets, a NASD (now Financial Industry Regulatory Authority (FINRA)) regulated company set up to provide brokerage and investment services in North and South America. Emerging Markets Investor and Global Finance name it "Best Bank in Russia". Alfa Bank becomes 100 percent owner of Amsterdam Trade Bank N.V. and thereby acquires a full banking licence in the European Union.
  • 2002Gazprom and Alfa Bank reach an agreement on strategic partnership. Together with Merrill Lynch, Alfa Bank wins financial consulting contract from Unified Energy System. Fitch and S&P upgrade their credit rating on Alfa Bank. Once again Global Finance magazine declares Alfa Bank "The Best Russian Bank".
  • 2003Unaudited financial statements reveal record high growth in profits in 2002 (loan portfolio increased 70% to $1.4 billion, assets surged 51%, while net income rose by more than a third). Alfa Bank, in partnership with the Lauder Institute of the Wharton School of Business, establishes a new award for "Excellence in Foreign Investment", which would be presented to foreign companies operating in Russia for weighty contribution to the corporate governance and successful business operations. Alfa Bank draws $82 million unsecured syndicated loan, the biggest on record among private banks. S&P, Fitch, and Moody's upgrade Alfa Bank's rating during the year.
  • 2004 – Alfa Bank tops the list of financial consultants by deals value, completing $8.9 billion worth of transactions in 2003. Alfa Bank's loan portfolio grows by 52% year-over-year, reaching $2.8 billion.
  • 2005Interbrand ranks Alfa Bank "9th strongest brand" in Russia. Mikhail Fridman becomes the member of the Public Chamber of Russia. Alfa Bank issues $225 million of subbordinated unsecured Eurobonds. S&P, Fitch, and Moody's upgrade Alfa Bank's rating during the year.
Alfa Bank branch in Odessa, Ukraine (2012)
  • 2006 – Alfa Bank completes the country’s first securitisation of diversified payment rights with a $350 million deal. Unaudited first quarter management International Financial Reporting Standards figures show total assets breaking the $10 billion mark for the first time in company's history.
  • 2007 – In connection with the closure of Sodbiznesbank in 2004, Alfa Bank is searched by Russian police in September.[12] Fitch upgrades Alfa Bank's rating.[13]
  • 2008 – Alfa Bank seeks $400 million government loan in October.[14] It deploys 20,000 Aladdin eToken USB smartcard devices to its online customers.[15] The bank acquires Severnaya Kazna, a major regional bank operating in the Urals region.[16]
  • 2009 – Fitch downgrades Alfa Bank's rating.[17]

2010s[edit]

  • 2010 – Alfa Bank launches a $1 billion 7-year Eurobond.[18]
  • 2011 – Alfa Bank seeks to buy Bank of Moscow,[19] but the sale goes to VTB Bank.
  • 2012 – In cooperation with Euroset, Alfa Bank launches a loyalty-card credit programme.[20]
  • 2016 – On 31 October and 2 November, Franklin Foer reported in Slate that there had been unusual repeated activity from 4 May to 23 September 2016 between two computer servers registered to Alfa Bank in Moscow and a server owned by the Trump Organization.[21][22][23][24][25] The activity also included, to a much lesser extent, communications to a server at Spectrum Health, a medical facility chain led by Dick DeVos, the husband of Betsy DeVos.[21][24] From August through October 2016, the FBI investigated the computer server activity between the Trump Organization and Alfa Bank.[26]
  • 2017 – In January, the Donald Trump–Russia dossier, prepared by former MI6 agent Christopher Steele[27] and denoting various ties between Trump and Russia, was published in full in BuzzFeed News; the dossier mentions Alfa Bank's parent company Alfa Group (spelled "Alpha Group" in the dossier).[28] On 10 March, CNN reported that the FBI was continuing to investigate the unusual computer activity between Alfa Bank and the Trump Organization which had occurred in the summer of 2016, and which had been reported in the media just before the U.S. presidential election.[24][29] Also in March, Alfa Bank was the target of Ukrainian protests.[30] In May, the owners of Alfa Bank filed a defamation lawsuit against BuzzFeed for publishing the unverified Donald Trump–Russia dossier, which alleges financial ties and collusion between Putin, Trump, and Alfa Bank's owners.[31][32] In June, President Trump nominated Brian Benczkowski, the bank's former attorney, to be United States Assistant Attorney General for the Criminal Division.[33]

See also[edit]

References[edit]

  1. ^ a b "Fact Sheet". Alfa Bank. Retrieved 2011-03-19. 
  2. ^ a b c ABH Financial Limited (31 December 2010). "International Financial Reporting Standards. Consolidated Financial Statements and Independent Auditor’s Report" (PDF). alfabank.com. ABH Financial Limited. Retrieved 13 April 2011. 
  3. ^ "Рейтинг банков - 2017 (таблица)". Forbes.ru. 23 March 2017. Retrieved 1 May 2017. 
  4. ^ "Russian Banks: In the shadow of giants". The Economist. The Economist Newspaper Limited. 398 (8721): 71. 19–25 February 2011. 
  5. ^ "Corporate Profile". Alfa Bank. Retrieved 2011-03-20. 
  6. ^ "Archived copy". Archived from the original on 20 February 2011. Retrieved 2011-03-22. 
  7. ^ http://www.profile.ru/admin/spaw2/uploads/images/Top200_1.jpg
  8. ^ Merge and Acquire, The Ukrainian Week (9 October 2015)
  9. ^ "Top-1000 World Banks by The Banker magazine". Venchur.ru. Russian Venture Investment Center. 5 July 2010. Retrieved 12 April 2017. 
  10. ^ "Bank's History" (in Russian). Alfa Bank. Retrieved 2011-03-20. 
  11. ^ Bank, Alfa (31 December 1998). "Alfa Bank Annual Report 1998" (PDF). alfabank.com. Alfa Bank. Retrieved 21 March 2011. 
  12. ^ Hannah Gardner and Torrey Clark (6 September 2007). "Russian Police Search Alfa Bank, Seize Documents (Update2)". Bloomberg L.P. Archived from the original on 28 April 2012. Retrieved 2 May 2012. 
  13. ^ "Fitch Upgrades Russia's Alfa Bank to 'BB’; Outlook Stable". CbondS Financial Information. 11 December 2007. Retrieved 2 May 2012. 
  14. ^ Vasilyeva, Nataliya (31 October 2008). "Russia's Alfa Bank asks $400 million from state". USA Today. Retrieved 2 May 2012. 
  15. ^ "Russian Bank Secures Online Banking With Aladdin Authentication". IT Business Net. 15 December 2008. Retrieved 2 May 2012. 
  16. ^ "Archived copy". Archived from the original on 17 November 2012. Retrieved 2012-12-17.  Severnaya Kazna integration
  17. ^ "Fitch Downgrades Russia’s MDM and Alfa; Other Banks on Negative Outlook". CbondS Financial Information. 27 March 2009. Retrieved 2 May 2012. 
  18. ^ "Russia Alfa Bank launches $1 bln Eurobond-sources". Reuters. 17 September 2010. Retrieved 2 May 2012. 
  19. ^ "Alfa Bank Eyes Bank of Moscow Stake – report". Reuters. 24 January 2011. Retrieved 2 May 2012. 
  20. ^ "Euroset, Alfa Bank Launch Loyalty Card Credit Programme". Telecom Paper. 14 March 2012. Retrieved 2 May 2012. 
  21. ^ a b Foer, Franklin (31 October 2016). "Was a Trump Server Communicating With Russia?". Slate. Retrieved 6 April 2017. 
  22. ^ Foer, Franklin (2 November 2016). "Trump’s Server, Revisited". Slate. Retrieved 6 April 2017. 
  23. ^ DuVall, Eric (1 November 2016). "Donald Trump email server with ties to Russia's Alfa Bank questioned". UPI. Retrieved 12 April 2017. 
  24. ^ a b c Brown, Pamela; Pagliery, Jose (10 March 2017). "Sources: FBI investigation continues into 'odd' computer link between Russian bank and Trump Organization". CNN. Retrieved 11 April 2017. 
  25. ^ Kristof, Nicholas (9 March 2017). "Connecting Trump’s Dots to Russia". New York Times. Retrieved 20 April 2017. 
  26. ^ Bertrand, Natasha (26 March 2017). "A timeline of events that unfolded during the election appears to support the FBI's investigation into Trump and Russia". Business Insider. Retrieved 20 April 2017. 
  27. ^ "Trump dossier: Christopher Steele, ex-MI6 officer, named as author". The Guardian. 12 January 2017. Retrieved 12 January 2017. 
  28. ^ Edward, Jim (11 January 2017). "TIMELINE: That Russian Trump blackmail dossier has been making the rounds for months — here is how it finally came to light". Business Insider. Retrieved 20 April 2017. 
  29. ^ Bertrand, Natasha (10 March 2017). "The FBI is reportedly examining why a Russian bank with ties to Putin wanted to reach the Trump Organization during the campaign". Business Insider. Retrieved 20 April 2017. 
  30. ^ Protesters In Kyiv Target Russian Bank And Oligarch Office on YouTube Radio Free Europe/Radio Liberty
  31. ^ Porter, Tom (27 May 2017). "Russian Bankers Sue BuzzFeed Over Publication Of Unverified Trump Dossier". Newsweek. Retrieved 28 May 2017. 
  32. ^ Gerstein, Josh (26 May 2017). "Russian bank owners sue BuzzFeed over Trump dossier publication". Politico. Retrieved 28 May 2017. 
  33. ^ Charlie Savage; Adam Goldman (25 July 2017). "Justice Dept. Nominee Says He Once Represented Russian Bank". The New York Times. p. A11. Retrieved 26 July 2017. 

External links[edit]