Moody’s Investors Service upgrades Alpha Bank Romania’s deposit ratings

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.

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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.

More information: Research: Rating Action: Moody’s upgrades Alpha Bank Romania S.A.’s deposit ratings to Ba1, outlook changed to stable from positive – Moody’s (moodys.com)