S&P lifts Alfa Bank view to stable

S&P said it revised the outlook on JSC Alfa Bank to stable from negative.

The agency also said it affirmed the bank’s BB long- and B short-term counterparty credit ratings and ruAA Russia national scale rating.

S&P also said it revised the outlook on ABH Financial Ltd., Alfa Bank’s owner, to stable from negative. The agency also affirmed ABH’s B+ long-term and B short-term counterparty credit ratings.

The bank’s strategy has allowed it to successfully adjust to the deteriorated economic conditions, which lead to the stable outlook, the agency said.

In 2015, the group demonstrated a good performance with net income of $480 million, despite considerable provisions of Amsterdam Trade Bank NV, an Alfa Bank subsidiary, S&P explained.

As a result, Alfa Bank’s capital buffers strengthened, supported by internal capital generation, despite the weakened operating environment, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.