S&P revises outlook on Alfa-Bank (Ukraine) to Stable from Negative.

By bne IntelliNews March 17, 2010
The Standard&Poor's international rating agency has revised its outlook on Alfa Bank Ukraine , ranking among Ukrainian largest commercial banks, to stable from negative. "The outlook revision reflects the better prospects for economic stability in Ukraine following the recent formation of a new governing coalition and cabinet," reads the statement. The international rating agency also takes into account the bank's expected improvement in capitalization, which will provide an additional cushion against asset quality deterioration. As earlier reported, the assets of Alfa Bank ( Ukraine ) were estimated at UAH 28,693.6mn as of Jan 1, 2010 , the credits and debts of clients were valued at UAH 25,314.4mn, and the equity of shareholders was estimated at UAH 2,877.9mn. The financial institution finished 2009 at a loss of UAH 348.405mn. ABH Ukraine Limited ( Cyprus ), which is part of the Alfa Group consortium, owns 99.99% of the shares in Alfa Bank ( Ukraine ) public joint-stock bank.

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