23 December 2009 Fitch Assigns AK BARS's USD280m Bond Final 'BB' Rating
Fitch Ratings-London/Moscow-23 December 2009: Fitch Ratings has assigned AK BARS Luxembourg S.A.'s USD280m issue of senior unsecured loan participation notes with coupon of 10.25% due in December 2012, a final 'BB' rating. Since Fitch's 1 Dec 2009 announcement of the expected ratings, the amount of new notes issued for cash was further upsized by USD55m from the previous amount of USD150,859,000 to bring the total new issue size to USD280m.
18 December 2009 Sitting of the Board of Directors took place in AK BARS Bank on December 18
Sitting of the Board of Directors of Joint Stock Commercial Bank AK BARS took place on December 18. Prime Minister of the Republic of Tatarstan Rustam Minnikhanov and Chairman of National Bank of Tatarstan Evgeniy Bogachev participated in the meeting.
18 December 2009 Moody’s confirms Ba3/E+/Aa.ru ratings of AK BARS Bank
Moody’s confirms Ba3/E+/Aa.ru ratings of AK BARS Bank December 21, 2009 Moscow, December 17, 2009 - Moody's Investors Service has confirmed the Ba3 long-term global scale local and foreign currency debt and deposit ratings of AK Bars Bank (ABB). At the same time, AK BARS Bank’s E+ bank financial strength rating (BFSR) and its Not Prime short-term global scale local and foreign currency deposit ratings were also affirmed.
21 April 2009 Sitting of AK BARS Bank Board of Directors took place on April 21
Chairman of AK BARS Bank Management Board Robert Minnegaliev made a report for the members of the Board of Directors covering key development directions of financial activity of the Bank in 2008. The Bank increased the scales of its activity, consequently the assets grew by 59,9 bln RUR or by 38.1% and reached by the end of the year the size of 217,1 bln RUR. The capital including the subordinated credit made up 28,2 bln RUR. The deposits attracted grew up by 17,3% and totaled 109,6 bln RUR.
The balance sheet profit in 2008 reached the amount of 2,2 bln RUR. Net profit by the end of 2008 made up 2,1 bln RUR.
8 April 2009 AK BARS Bank repaid the USD 200 mln syndicated loan
On April 8th, 2009 AK BARS Bank repaid the syndicated loan in the amount of USD 200 million, attracted a year ago and arranged by Banco Finantia, S.A., Commerzbank AG, ICICI Bank UK PLC, Landesbank Berlin AG, WestLB AG, London Branch.
The affirmation of the Long-tern Issuer Default rating at “BB” with stable outlook is a rare event in the recent months while long-term ratings of majority of Russian banks are being downgraded, and this proves the Bank’s financial soundness in crisis environment.
1 April 2009 "AK BARS" Bank will increase the authorized capital by placing 9 billion of shares
On the 30th of March at the extraordinary General Shareholders' Meeting the AK BARS Bank's Shareholders adopted a resolution on increase of share capital by placing additional nominal non-documentary equity shares in the amount of 9 billion Russian roubles.
11 February 2009 AK BARS proved its reliability
«Finance» magazine assessed for the first time the financial stability of 100 leading Russian credit organizations. AK BARS took the 16-th place.
23 January 2009 Joint Stock Commercial AK BARS Bank repaid bonds of the second series for 1,5 bln roubles
AK BARS Bank paid on January 22, 2009 the 6-th coupon yield and fulfilled redemption of bonds (interest bearing, non-convertible documentary, with the obligatory centralized storage, payable to the bearer, series 02, state registration number 40202590B). The total amount of the coupon yield and the redemption volume made up 1 559 835 000 (one billion five hundred fifty-nine million eight hundred thirty-five thousand) roubles.
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