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Alfa Bank’s rating was upgraded by Standard & Poor’s to “B” with Stable Outlook

September 02, 2003. TAG: Financial Services

Standard & Poor's states that the ratings on Alfa Bank reflect the bank's good business franchise and the improved diversity of its business lines, offset by the bank's large single-party concentrations, including to other Alfa Group members, and the still high level of risk for all banks operating in Russia. During the past three years, Alfa Bank has expanded its commercial network, widened its financial services offerings, and hired new staff in key areas such as retail and investment banking, information technology, and risk management. These changes have positioned the bank well to develop its banking business across the expanding Russian economy. Ratings List

ABH Holdings S.A.

ABH Holdings S.A. (ABHH) is a privately owned Luxembourg-based holding company investing into several banking groups in the CIS and Europe. ABHH includes Alfa-Bank (Russia), Alfa-Bank (Ukraine), Ukrsotsbank (Ukraine), Alfa-Bank (Belarus), Alfa-Bank (Kazakhstan) and Amsterdam Trade Bank N.V. You can find more information on ABH Holdings S.A.'s website