INTERFAX. Net profit generated by Alfa-Banking Group, which includes Alfa-Bank with its subsidiary banks and financial companies, drafted to International Financial Reporting Standards, surged 33.2% to $253.5 mln in 2007.
The group’s aggregate assets climbed 49.3% to $22.7 bln in 2007 from $15.2 bln as of year-end 2006. Alfa-Banking Group’s credit portfolio leapt 57.1% to $15.4 bln. The portion of loans overdue in the group’s credit portfolio dropped and came in at 1% against 1.2% in 2006.
Russia’s Alfa-Bank is a core of Alfa-Banking Group, which also comprises companies from Kazakhstan, the Netherlands, the USA, Great Britain and Cyprus. The beneficial owners of the group’s parent company, ABH Financial Limited, are Alfa Group’s co-owners Mikhail Fridman, German Khan and Alexey Kuzmichev who control 36.47%, 23.27% and 18.12%, respectively. Other beneficial owners are Alfa-Bank President Pyotr Aven (13.76%), his former top manager Alex Knaster (4.3%) and Andrey Kosogov (4.08%).
In 2007, Alfa-Bank was in 5th place in terms of assets in the Interfax-100 ranking of Russian banks, prepared by Interfax-CEA.
