Alfa Bank, Russia’s largest privately owned
banking group, has reported a first half net profit of $296m
compared to just $6m in the first half last year.
Provisions for loan impairments more than
halved to $168m from £395m in the year ago period.
Go deeper with GlobalData
Alfa’s net interest income increased
by 12.1% to $640m, mainly as a result
of significantly lower interest expenses.
Loans to customers inched up by 2% to$13.7bn
but customer deposits fell, by 5.1% to $12.9bn.
Total assets rose by 4.3% year-on-year to
$22.6bn.
Alfa ended the first half with 4.1m retail
customers, while its branch network has grown to 326 offices,
up from around 200 two years ago.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
