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Headline: Alfa Bank: much more than a survivor Source: Euromoney Date: April 2000 Alfa Bank did well during the crisis: it managed to maintain its liquidity when competitors were forced to close their doors as depositors started runs at many banks. Alfa president Mikhail Fridman claims that his bank was able to do this because of its conservative approach: it didn’t have a big exposure to state treasury bills (GKOs) and dollar forward contracts with foreigners that allow these rouble-denominated bills to be converted into hard currency. |
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