Alfa Bank Ukraine ends 1H09 with net loss of UAH 193 mln
22 July 2009
Alfa Bank Ukraine had a net loss of UAH 192.8 mln in 1H09, vs. net income of UAH 29.9 mln in 1H08, the bank said in a filing yesterday with the State Securities & Exchange Commission. Alfa indicated that its net assets as of July 1 amounted to UAH 32.4 bln (up 0.2% yoy) and liabilities to UAH 29.2 bln (up 0.8% yoy). Alfa Bank Ukraine was the country’s #9 largest lender by assets as of April 1, according to the National Bank of Ukraine. Andrii Parkhomenko: Bad asset reserve provisions of UAH 1.4 bln were the key reason why Alfa Bank showed a loss in 1H09. Meanwhile, the bank’s reserves cover 11% of its loan portfolio. Look for a flash note later today on Alfa Bank Ukraine.
