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Alfa Bank to announce financial results for 2004: Assets, Customers, Deposits and Profits all Increase in a Challenging Year
18 Apr 2005

Based on the audited financial results for 2004, Alfa Bank group, which embodies Alfa Bank, subsidiary banks and financial companies, generated a net profit of $153mn, up 45 per cent from $106mn in 2003.

According to Rushan Khvesyuk, Alfa Bank’s Chairman of the Executive Board, in spite of certain difficulties faced by Russian banks in 2004, the Bank managed to improve its performance results noticeably and grow its customer base both in financial and quantitative terms. So, the volume of funds raised from individuals in 2004 was nearly 1.4 bn US dollars, compared to 1.3 bn US dollars in 2003. The number of Alfa Bank’s individual customers increased by 22% in 2004, from 900,000 at the end of 2003 to 1.1 mln in 2004.

Assets rose 19 per cent to $7.025bn in 2004 from $5.884bn in 2003. Equity rose to $708mn in 2004 from $547mn in 2003.

The inflow of corporate and individual funds increased to $5.198bn in 2004 from $4.792bn in 2003.

Credit portfolio rose to $4.671bn in 2004 from $3.598bn in 2003.

The Bank’s ISA figures have been audited by PriceWaterhouseCoopers.

Alfa-Bank Russia

Alfa-Banking Group includes Alfa-Bank Russia which is today one of the largest privately owned banks in Russia. It also includes Alfa-Bank Ukraine, one of the top-ten largest banks in Ukraine.  Alfa-Banking Group also comprises  banks in the Netherlands, in Belarus and in Kazakhstan as well as presence in Cyprus, the United States and the United Kingdom. The Group offers a wide range of products and operates in all sectors of the financial market, including corporate and retail lending, deposits, payment and account services, foreign exchange operations, cash handling services, custody services, investment banking, trade finance and other ancillary services to corporate and retail customers.
 
Alfa-Bank Russia, founded in 1990, has developed rapidly to become one of Russia's largest privately owned banks. It provides a full range of banking services — corporate banking, retail banking, investment banking, asset management and trade finance. In 2010, Alfa-Bank Russia had 364 branches over nine time zones in Russia, the Netherlands and the United Kingdom, also had presence in the United States and Cyprus.

 


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