11:31 21.04.2015

Total assets of Alfa-Bank (Ukraine) up 20% in Q1

2 min read
Total assets of Alfa-Bank (Ukraine) up 20% in Q1

The total assets of Alfa-Bank (Kyiv) grew by 19.9% in January-March 2015, to UAH 43.128 billion, according to the bank's quarterly report.

The bank said that in Q1 2015 its loss totaled UAH 621.759 million, while a year ago its profit stood at UAH 2.373 million.

Net interest-bearing income grew by 8.7% in Q1 2015 year-over-year, to UAH 468.61 million.

Credits and debts of clients rose by 18%, to UAH 29.757 billion.

Reserves for overdue credits reached 22.2% of the sum of credits and debts of clients as of early April, while they amounted to 15.2% in early 2015.

The charter capital of the bank did not change, remaining UAH 4.639 billion, while its net worth fell by 19.2%, to UAH 2.254 billion.

According to a press release issued by the bank, its loss in Q1 2015 is linked to the additional formation of reserves.

"The bank additionally formed reserves for credit transactions worth UAH 2.5 billion, and taking this into account, the bank's loss in Q1 2015 totaled UAH 622 million. The bank's managers believe that the reserve formed as of April 1, 2015 is comfortable and enough in the current situation on the market, it covers all the risks of the portfolio," reads the press release.

Chief Managing Director of Alfa-Bank Rushan Khvesiuk said that the bank had retained its position on the market in Q1 2015.

"In Q1 2015 Alfa-Bank retained its position and earned over UAH 2 billion of operating income. The bank retains its margins and business volumes, [and it is] actively adapting to the current situation. We're looking for opportunities of offering new services to our clients, to guarantee our trustworthy [reputation], we're one of the most stable banks in the sector," Khvesiuk said.

Alfa-Bank was founded in 1993. It is part of the Alfa Group international consortium. The only shareholder is ABH Ukraine Limited (Cyprus).

The bank ranked 9th among 158 operating banks as of January 1, 2015, in terms of total assets worth UAH 36.694 billion, according to the National Bank of Ukraine.

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