Ak Bars Holding

Ak Bars Bank Logo

Ak Bars Holding (Russian: Ак Барс) is a diversified financial holding based in Kazan, Russia and established in 1998.[1] Ak Bars is said to keep close links to the Tatarstan government.[2]

Ak Bars Bank, part of the holding, is one of the 20 largest Russian banks by assets, and counts over 3 million retail customers.[3] In 2017 it had a B2 credit rating from Moody's and a B rating from Fitch.[4][5]

In 2014 Ak Bars became the first bank in Russia to apply Sharia banking.[6] Because of this, it refuses financing to alcohol or gambling-related businesses, or the construction of pig farms.[6] Tatneft holds a 17% stake in Ak Bars Bank.[7]

Ak Bars Holding owns stakes in Zelenodolsk Shipyard,[8] and formerly Ak Bars Aero.

References

  1. ↑ "Ak Bars Holding company OJSC: Private Company Information". Bloomberg. Retrieved 30 August 2017.
  2. ↑ "Few Dividends Among Big Banks". The Moscow Times. Retrieved 30 August 2017.
  3. ↑ "PJSC Tatneft Board Approves Acquisition of Ak Bars Bank Shares". Fox Business. 30 May 2017. Retrieved 30 August 2017.
  4. ↑ "Fitch Downgrades AK BARS to 'B'; Outlook Negative; Withdraws Ratings". Fitchratings.com. Retrieved 30 August 2017.
  5. ↑ "Рейтинг банков - 2017 (таблица)". Forbes.ru. 23 March 2017. Archived from the original on 23 May 2017. Retrieved 1 May 2017.
  6. 1 2 Lossan, Alexei (17 September 2014). "Tatarstan bank shows Sharia financing is cheaper than Eurobonds". Russia Beyond The Headlines. Retrieved 30 August 2017.
  7. ↑ "Tatneft acquires stake in AK Bars Bank". Reuters. Retrieved 30 August 2017.
  8. ↑ "Zelenodolsk shipyard lays down two high-speed passenger ships of Project А145Е designed by Agat Design Bureau LLC for UAE". portnews.ru. Retrieved 30 August 2017.
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