OREANDA-NEWS. June 5, 2012. According to the agency, the change in rating to “AAA” on the National scale and “A-” on the International scale both with a stable outlook is due to the high degree of stability and competitiveness demonstrated during the recent crisis, as well as ongoing growth in the Bank’s business coupled with positive financial indicators, consistent backing from both shareholders and the state, and falling pressure from credit risks.

The rating is based on the unquestioned support of the Alfa Group, which commands considerable financial resources, political influence and lobbying capacity; potentially strong backing from the federal authorities; a high degree of financial flexibility; a solid position among market leaders; highly-professional management; and a generally favourable assessment of the Bank’s financial condition.

Constraining factors include above-average political and legal risks.

Alfa-Bank is Russia’s number one (by assets) private-sector commercial bank (ranking seventh after the top state-owned players) and a universal financial institution controlled by the Alfa Group, one of Russia’s largest financial-industrial consortia. Its market positions are solid and the Bank is a leader in virtually all areas, with a well-developed service network that includes a presence in other countries. Alfa-Bank makes use of advanced technology and its management is effective and highly professional. The group has considerable influence in political and business circles, both inside Russia and abroad.