27 Oct 2006 16:05

Interfax-CEA launches ranking of Russian bank groups

The Interfax Center for Economic Analysis (Interfax-CEA), a member of the Interfax Information Services Group, has announced the launch of a ranking of Russian bank groups, a new information analytical product of the Interfax 100 series.

This is Russia’s first review offering information on the operations of Russian banks, including bank groups, based on official consolidated accounting reports.

“Many of aspects of banks’ activities can be understood only within the context of the activities of an entire group, especially when such a group has a developed system specializing on this or that kind of operations or regional markets,” Interfax-CEA General Director Mikhail Matovnikov said.

“The "Interfax 100" traditional ranking of Russian banks is an important source of information on the market ranking of individual banks. However, most investors have shown an interest in receiving information on banks’ activities taking into account their subsidiaries and dependent companies,” he said.

“In response to requests from investors and banks themselves, the Interfax-CEA is beginning publishing a list of the largest bank groups based on consolidated accounting reports,” Matovnikov said.

The first Interfax 100 ranking of Russian bank groups has been compiled based on banks’ consolidated accounting reports for the first half of 2006. It includes 12 bank groups, whose head banks are Vneshtorgbank, Alfa-Bank, Uralsib, Raiffeisen Bank, MDM-bank, Petrokommerz, International Industrial Bank, Zenit, Sibakadembank, Konversbank, Inkasbank, and Gubernsky. The head banks of most of the bank groups included in the ranking are major Russian banks.

The ranking shows how the consolidation of the assets of members of a group changes the positions of banks in ratings assessing different parameters. The consolidated accounting aspects selected as the main parameters in assessing the operations of bank groups include: assets, own capital, net principal receivable, non-banking sector assets, including assets belonging to private individuals.

The ranking has been compiled in accordance with the Central Bank’s regulation on consolidated accounting reports No. 191-P dated July 31, 2002. (Forms 801, 802 and 803.) Russian accounting standards have been chosen, because such reports are published every quarter, and work on them takes less time. In addition, reports based on Russian accounting standards better correspond with reports issued by banks that are not members of bank groups, which makes it possible to include groups of banks and individual banks in the same rating.

The ranking will be updated on a quarterly basis, and more bank groups will be added.

*** Interfax-CEA issues regular statistical and analytical products on various financial markets in Russia and other members of the Commonwealth of Independent States (CIS) and reports activities by Russian institutional investors. The products of Interfax-CEA include daily forecasts and reports on various financial markets, rankings of Russian banks and insurance companies under the general heading of Interfax 100 and rankings of banks and insurers in CIS countries under the general heading of Interfax 1000.

Interfax-CEA began compiling a ranking of pension savings management trusts and assessing the quality of asset management in 2006.