S&P upgrades Alfa-Bank (Ukraine) ratings to B-/uaBBB-.

By bne IntelliNews June 1, 2011
Standard&Poor's, an international rating agency, has upgraded ratings of Alfa-Bank (Ukraine) to B-/uaBBB- from CCC+/uaBB. The outlook for the rating is stable. The agency based its decision on reduced pressure on the bank's financial and business profile in the midst of the gradually stabilizing operating environment in the country. The bank has improved its funding and liquidity profile with the inflow of retail deposits. As of Apr 1, 2011, Alfa-Bank (Ukraine) assets amounted to 28,473.2mn, liabilities stood at 23,878.2mn and capital totalled UAH 3,135.1mn. The bank posted net profit of UAH 2.427mn in Q1. ABH Ukraine Limited (Cyprus), which is part of the Alfa Group consortium, owns 80.1% of the shares in Alfa Bank (Ukraine) public joint-stock bank, while 19.9% are held by the Russian Alfa Bank.

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