Chairman’s Message

Valery Sorokin

Chairman of the Board of Directors of Ak Bars Bank
Dear shareholders, partners and clients of the bank,

Ak Bars Bank is one of the leaders in the banking system of the main region of its operation — the Republic of Tatarstan. At the same time, the bank plays a prominent part in the country’s financial system.

In the reporting year, the crisis phenomena and changes faced by our country and the world as a whole had a direct impact on Ak Bars Bank. During this period, the bank went through unprecedented stress and proved its ability to adapt to difficult market and socio-economic conditions, while maintaining a positive balance and stable ratings from leading rating agencies.

The bank operates under conditions of highly competitive environment and severe technological transformation of the industry. Development strategy in a rapidly changing environment and continuous innovation are the new realities of the banking sector. It is important to note that the course towards innovative development, which the bank has been following for several years, has fully justified itself and made it possible to open new points of growth.

Following the principles of sustainable development, introducing a wide range of digital services, the bank is becoming more useful, top requested and socially responsible, making the life of its clients and society better.

The Board of Directors highly appreciates the efforts of the bank’s team to improve business efficiency, reduce costs and proactively implement digital technologies.

In the future, we set ourselves the aim of continuing to strengthen our market positions in key business segments, reaching and exceeding strategic guidelines.

I thank our clients, partners and shareholders for their trust and cooperation!

Zufar Garaev

Chairman of the Management Board of Ak Bars Bank
Dear shareholders, partners and clients of the bank,

Summing up the results of 2020, I can say with confidence that Ak Bars Bank has moved to a new high-quality level of implementation of all directions of the Development Strategy.

Despite the challenges of the past year, we have improved operating efficiency by increasing net interest and fee-based income. This was facilitated by the expansion of the product line and the improvement of the customer experience in all business segments.

Significant successes were achieved in the direction of the bank’s technological transformation. It is possible to become a client of Ak Bars Bank and receive financial services without visiting a bank branch. Our remote banking services maintain their leading positions in authoritative industry ratings, and more and more customers prefer operations in the bank’s digital channels.

The focus of management remains on improving the quality of service and building a customer-centric business model. Management decisions are made based on an analysis of customer satisfaction and loyalty.

The attention of companies not only to the needs of their customers, but also to society as a whole, is one of the main components of a sustainable development policy. In recent years, this bright global trend has become an integral part of the business of socially responsible organizations. In turn, Ak Bars Bank supports this important direction and aims to become a driver of sustainable development in the Republic of Tatarstan, integrating ESG principles into all key business processes and areas of its activity.

The past year has shown our readiness for changes and non-standard solutions. Absolutely, all the achievements became possible thanks to the well-coordinated work and efforts of each employee of the bank. I am sure that the accumulated experience will allow the bank to continue to adequately meet all the challenges of the time, continuing to strengthen its positions in the financial market of the country.