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Alfa Bank upgraded by Standard&Poor’s to B- with Stable Outlook

September 02, 2002. TAG: Financial Services

“The upgrade reflects the bank’s good business franchise, as well as its improved financial profile and operational diversity in the context of better prospects for macroeconomic stability in Russia,” Standard & Poor’s said. “Over the past two years, the 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 group well to develop its banking business across the expanding domestic economy.” For more information see

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