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Peter Aven, President of Alfa Bank speaks on Role of Russia in Europe's Economic Progress at the European Leadership Forum 2004 "Driving Performance & Growth" in Paris, December 6-7, 2004
07 Dec 2004
Speaking on Financial Performance in Europe Peter Aven noted that higher IPO activity across the world translated to the Russian markets where in recent years 10 companies with $8 bln market capitalization placed their shares publicly "Faster banking sector reform attracted foreign banks to Russia and helped to diversify FDI inflow from the oil & gas sector," said Aven. According to Aven, introduction of mandatory international accounting standards for Russian banks since this year is the crucial step before joining Basel II principles in future. Forum speakers included also Robert Zoellick, US Trade Representative, Kathleen Corbet, President, Standart & Poor's, Thierry Breton, Chairman & CEO, France Telecom, Maria Livanos Cattaui, Secretary General, International chamber of Commerce, Ruggero Magnoni, Vice Chairman, Lehman Brothers Europe. One of the highlights of this BusinessWeek Forum over the past four years was the Gala Dinner celebrating the Business Week's "Stars of Europe", which honors those individuals who have played a key role in Europe's economic system. Alfa Group Chairman Mikhail Fridman was named as one of the Stars of Europe in 2003.
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Alfa-Bank Russia
Alfa-Banking Group includes Alfa-Bank Russia which is today one of the largest privately owned banks in Russia. It also includes Alfa-Bank Ukraine, one of the top-ten largest banks in Ukraine. Alfa-Banking Group also comprises banks in the Netherlands, in Belarus and in Kazakhstan as well as presence in Cyprus, the United States and the United Kingdom. The Group offers a wide range of products and operates in all sectors of the financial market, including corporate and retail lending, deposits, payment and account services, foreign exchange operations, cash handling services, custody services, investment banking, trade finance and other ancillary services to corporate and retail customers.
Alfa-Bank Russia, founded in 1990, has developed rapidly to become one of Russia's largest privately owned banks. It provides a full range of banking services — corporate banking, retail banking, investment banking, asset management and trade finance. In 2010, Alfa-Bank Russia had 364 branches over nine time zones in Russia, the Netherlands and the United Kingdom, also had presence in the United States and Cyprus.
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