S&P upgrades ratings of Alfa-Bank (Ukraine).

By bne IntelliNews June 14, 2011
The S&P has upgraded ratings of Alfa-Bank (Ukraine) to B-/uaBBB-. The outlook on the ratings is stable. The agency took into account inflows of retail deposits, improved liquidity profile, stabilization of asset quality, and improving capitalization. The ratings upgrade is also based on reduced financial and business profile pressure amid the gradually stabilizing operating environment in Ukraine. 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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