Rustam Minnikhanov: "Ak Bars Bank has been and will be our main bank"

The existence of Tatarstan such financial institution as "Ak Bars" Bank of the Republic allows its management effectively to implement projects of social and economic development. This opinion was expressed by President of Tatarstan Rustam Minnikhanov, speaking at the annual general meeting of shareholders of OAO “Ak Bars” Bank.

In 2010, the bank's assets increased by 6,3% and reached 240.7 billion rubles. Based capital subordinated debt fell by 2,8% and amounted to 35.3 billion rubles. Net profit of “Ak Bars” Bank in 2010 decreased by 5,5% and amounted to 568 million rubles.

President of Tatarstan Rustam Minnikhanov noted that "Ak Bars" Bank has a leading position in the banking system not only in Tatarstan but in the whole country. "According to the basic parameters " Ak Bars " Bank is in the top twenty largest banks in Russia”, said the RT President.

Nevertheless, the head of the republic agreed with the chairman of the National Bank of Tatarstan Evgeny Bogachev in the lack of effectiveness of “Ak Bars” Bank. Net profit of this financial institution up to 2010 was less than 2 percent of the capital. "The effectiveness of the bank, the ratio of profits and capital is something that is necessary to pay serious attention.

According to R. Minnikhanov, “Ak Bars” Bank should adopt a positive experience innovations of Sberbank and other banking institutions.