OREANDA-NEWS. December 3, 2012. The Bank’s credit rating was initially assigned by Standard & Poor’s in July 2011. The upgrade by Standard&Poor’s reflects the agency’s opinion that Otkritie Bank has completed operational integration with the banks it recently acquired and should benefit from the increased franchise, client base, and network. The agency notes, that Otkritie Bank has strengthened its business position, and streamlined and improved control systems over the network, as well as risk management and corporate governance practices.

"Otkritie Bank has effectively completed the post-merger integration of the four banks, and we are pleased that the respected international rating agency has recognized our efforts in this regard. We continue working on increasing the efficiency and profitability of our business and enhancing our risk management practices, which have always been of great importance to us", says Evgeny Dankevich, Chairman of Otkritie Bank’s Executive Board.

OTKRITIE Bank ranks among Russia’s Top-20 private banks in terms of net assets and equity. As of October 1, 2010 the Bank’s assets amount to RUB110bn, while equity capital totals RUB17bn. The Bank has a ramified regional network with a presence in 32 regions of the Russian Federation and over 200 outlets. The main shareholder of OTKRITIE Bank is OTKRITIE Financial Corporation, one of Russia’s leading banking groups, which offers its clients and partners the full array of investment banking, commercial banking, and investment management services.