The bank Severnaya Kazna, one of the largest in the Urals region, started to experience problems in October when depositors rushed to withdraw their money from the banking institution.
"In cooperation with the Central Bank of Russia and the Agency for Deposit Insurance, Alfa-Bank will take efforts to stabilize and further streamline the positions of Severnaya Kazna on the banking market of the Urals region," Alfa-Bank said in a statement.
Alfa-Bank will take all efforts as a shareholder to make sure that Severnaya Kazna's liabilities to retail and corporate clients are met in full, the statement said.
The current global credit crunch started in the United States and quickly spread to Asia and Europe, leading to record losses on global financial markets and a liquidity shortage.
Analysts say problems with liquidity experienced by the Russian banking sector might prompt a wave of bank consolidation, and reduce the number of credit institutions in Russia by a third.
