Ak Bars Holding

OJSC Ak Bars Holding (Russian: Ак Барс) is a diversified financial holding based in Kazan, Russia and established in 1998.[1] Ak Bars is said to keep close links to the Tatarstan government.[2]

Ak Bars Bank, part of the holding, is one of the 20 largest Russian banks by assets, and counts over 3 million retail customers.[3] In 2017 it had a B2 credit rating from Moody's and a B rating from Fitch.[4][5]

In 2014 Ak Bars became the first bank in Russia to apply Sharia banking.[6] Because of this, it refuses financing to alcohol or gambling-related businesses, or the construction of pig farms.[6] Tatneft holds a 17% stake in Ak Bars Bank.[7]

Ak Bars Holding owns stakes in Zelenodolsk Shipyard,[8] and formerly Ak Bars Aero.

References
  1. "Ak Bars Holding company OJSC: Private Company Information". Bloomberg. Retrieved 30 August 2017.
  2. "Few Dividends Among Big Banks". The Moscow Times. Retrieved 30 August 2017.
  3. "PJSC Tatneft Board Approves Acquisition of Ak Bars Bank Shares". Fox Business. 30 May 2017. Retrieved 30 August 2017.
  4. "Fitch Downgrades AK BARS to 'B'; Outlook Negative; Withdraws Ratings". Fitchratings.com. Retrieved 30 August 2017.
  5. "Рейтинг банков - 2017 (таблица)". Forbes.ru. 23 March 2017. Archived from the original on 23 May 2017. Retrieved 1 May 2017.
  6. Lossan, Alexei (17 September 2014). "Tatarstan bank shows Sharia financing is cheaper than Eurobonds". Russia Beyond The Headlines. Retrieved 30 August 2017.
  7. "Tatneft acquires stake in AK Bars Bank". Reuters. Retrieved 30 August 2017.
  8. "Zelenodolsk shipyard lays down two high-speed passenger ships of Project А145Е designed by Agat Design Bureau LLC for UAE". portnews.ru. Retrieved 30 August 2017.
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