Rating agency Moody’s Investors Service upgraded the long-term deposit rating of Alpha Bank Romania to Ba1 from Ba2, as well as the rating for the bank’s Baseline Credit Assessment (BCA) to ba3 from b1. The outlook on the long-term deposit was changed to stable from positive.
The rating action was triggered by a similar action on the Greek parent Bank, Alpha Bank S.A. (the long-term deposit rating was upgraded to B1 from B2).
The upgrade of Alpha Bank Romania ratings reflects its strong capitalization, improving loan book quality evidenced by declining non-performing loans, stronger liquidity buffers and robust growth in Customer deposits that have also been translated into reduced reliance on intragroup funding.
Alpha Bank Romania is a member of Alpha Bank Group, one of the largest banking and financial groups in Greece, founded in 1879 by J.F. Costopoulos. The international activities of the Group are extended, in addition to Romania, to the United Kingdom, Luxemburg and Cyprus.
About Alpha Bank Romania
Alpha Bank Romania is a financial institution ranked among the top 10 banks in the country, with universal banking operations. A systemic bank, with a national presence of over 27 years, Alpha Bank Romania offers a wide range of modern services and products for individuals, as well as for SMEs and the corporate segment.
Alpha Bank Romania is one of the financial institutions that innovated the banking sector in Romania, being the first bank to launch on the local market an application that transforms an Android mobile device into a POS terminal. It was also the first bank that issued covered bonds in Romania after having introduced on the market the first housing loan.