IBA-Moscow rated among top crisis-resistant banks in Russia
The Moscow branch of the International Bank of
Azerbaijan (IBA), the country`s leading bank, has been rated among
the top 30 "stress-resistant" banks in Russia that have been the
most successful in coping with the ongoing world economic
crisis.
The one-of-a-kind ranking was drawn up by the National Banking Journal based upon research conducted between late 2008 to early 2009. The outcomes of the evaluation were deliberately not strictly linked to the financial figures of banks and their standing in various popular ratings estimated by evaluating the volume of assets, funds available, capital stock, and the bulk of allocated loans or opened deposit accounts.
Experts with the magazine used their own criteria for the evaluation, such as the number of positive news releases initiated by a given bank, the absence of bad news about the bank and information about staff-cuts, data available on the developed and implemented new projects, mid-term and long-term development strategies.
The assessment also built on whether the state is acting as a shareholder and the stated level of business diversification in banks.
The ranking also included numerous banks that are part of foreign financial institutions. However, in this case, the experts also reviewed information about the standing of the mother company and whether or not there is data suggesting that it intends to freeze its business in Russia or scale down funding for its operations in the country.
Besides IBA-Moscow, Top 30 also included Sberbank (Savings Bank), VTB, Gazprombank, Raiffeisenbank, URALSIB, Uniastrum, and others.
The one-of-a-kind ranking was drawn up by the National Banking Journal based upon research conducted between late 2008 to early 2009. The outcomes of the evaluation were deliberately not strictly linked to the financial figures of banks and their standing in various popular ratings estimated by evaluating the volume of assets, funds available, capital stock, and the bulk of allocated loans or opened deposit accounts.
Experts with the magazine used their own criteria for the evaluation, such as the number of positive news releases initiated by a given bank, the absence of bad news about the bank and information about staff-cuts, data available on the developed and implemented new projects, mid-term and long-term development strategies.
The assessment also built on whether the state is acting as a shareholder and the stated level of business diversification in banks.
The ranking also included numerous banks that are part of foreign financial institutions. However, in this case, the experts also reviewed information about the standing of the mother company and whether or not there is data suggesting that it intends to freeze its business in Russia or scale down funding for its operations in the country.
Besides IBA-Moscow, Top 30 also included Sberbank (Savings Bank), VTB, Gazprombank, Raiffeisenbank, URALSIB, Uniastrum, and others.
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