Moody’s Investors Service has revised upwards the ratings for long-term deposits in foreign and domestic currency of Alpha Bank Romania (ABR) from ‘Ba3’ to Ba2’ as well as the rating for financial soundness (BCA) from ‘b2’ to ‘b1’, a release from the rating agency informs.
Alpha Bank Romania’s ratings for short-term deposits have been confirmed at ‘Not Prime’.
The decision comes after revising upwards the ratings of the mother-bank in Greece, Alpha Bank AE. Last Friday, Moody’s improved Greece’s country rating from ‘B3’ to ‘B1’.
In 2017, the bank had a net profit of RON 215 million (EUR 47 million) with asset return of 1.4%. Moody’s expects profitability to drop in 2018 against 2017.