Support The Moscow Times!

Alfa Bank 2010 Profit Soars

Alfa Bank said Monday that its net profit increased sevenfold to $553 million in 2010 and its gross loan portfolio rose by more than $3 billion year on year to $18.2 billion, thanks to an increase in corporate lending.

The bank said it has cut provisions for loan impairments to $1.38 billion in 2010 from $1.5 billion a year before, while its net interest margin rose to $1.3 billion from $1.1 billion.


Read more

We need your help now more than ever.

Independent media outlets and journalists in Russia are being increasingly targeted with “foreign agent” and “undesirable” labels, threatening the existence of the free press day by day.

Your donation to The Moscow Times directly supports the last independent English-language news source within Russia.