Within the standard model, we calculate the radiative B −→ K⋆γ decay rate based on a Bethe-Salpeter description for the meson wave functions and the hadronic matrix elements. With a reasonable choice of parameters the branching ratio BR(B −→ K⋆γ) is found to be (3.8 − 4.6) × 10−5, which is in agreement with the CLEO experimental data. We also find with mb = 5.12 GeV the ratio R ≡ Γ(B −→ K⋆γ)/Γ(...