AK BARS Bank opened a correspondent account in Hungarian forints

AK BARS Bank has opened a correspondent account with the OTP Bank (Budapest) to provide direct payments of corporate clients in Hungarian forints. Correspondent account in HUF will optimize cooperation of AK BARS Bank’s clients with their Hungarian partners and will cut payment remittance route.

The event coincides with the recent opening of the Consulate General of Hungary in Kazan. Tatarstan is to facilitate building up of bilateral relations between Russia and Hungary. Direct correspondent accounts in the national currency of Hungary will also contribute to implementation of common projects and bilateral agreements.

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On 10 July, 2018 Moody’s Investors Service upgraded to b3 from caa1 the Baseline Credit Assessment (BCA) of Ak Bars Bank.
Agency evaluated the Bank’s key indicators: assets, equity, borrowed funds, individual bank deposits, loan portfolio, additionally, assets and equity growth rates, individual and corporate loans.