Refutation of the Information that Appeared in the Mass Media

The material placed by RBC Ukraine under name On the Line. Is there a Risk of Alfa-Bank bankruptcy in Ukraine and series of reprints with reference to this material are more examples of paid campaign against Alfa-Bank Ukraine, where journalist knowingly uses untruthful facts, manipulates with information and draws his own conclusions that are completely contrary to the real situation.

We would like to point out some impudent examples of lies described in the material:

1. Thesis about the bank’s unprofitability is the manipulation. Alfa-Bank operates with the operating profit. The operating profit for 8 months before the reserves is UAH 5 bln. The current loss of the Bank the journalist is writing about is generated entirely with preparation of reserves for the case of deterioration of the financial condition of the bank's customers-borrowers. Moreover, this situation is observed at many banks with active lending activity. After the victory of Ukraine in the war and stabilization the situation at the customers’ part these reserves will be dissolved.

2. Thesis about refinancing is the manipulation. Alfa-Bank returned anti-crisis refinancing provided by the National Bank in the first days of war ahead of schedule and in the full scope. We work with the National Bank within other market instruments: with the collateral refinancing, in simple phrase – we are provided with hryvnia in exchange for domestic state bonds or currency. This instrument is not anti-crisis one and is normal practice of usual money market, because it DOES NOT increase the scope of liquid/cash funds at the bank, but only exchanges some liquid funds for other ones. For example, within this instrument the bank is working with the National Bank of Ukraine regarding the operations for exchange of domestic state bonds (where the bank invests actively in order to support the state) with hryvnia.

3. Judgments regarding further increase of problem debt increase have no grounds and they are the clear example of a conclusion without facts. So, outflow of legal entities funds specified in the article is payment of debts to the bank with their help, and, from the other side of balance sheet is reflected in reduction of bank assets, for which the article author worries so much. Indeed, during the crisis the simultaneous reduction of assets and liabilities in the form of repayment of loans is the positive characteristic of financial strength (the most disturbing feature is always reduction of liabilities with unchanged assets). At the moment, the legal entities loan portfolio service level at Alfa-Bank is 85% — one of the best indicators at the market. We are thankful to our customers and all the bank services that provided the high quality of the loan portfolio for that.

We understand that the goal of such materials is to create the panic among customers and destabilize the bank, and fake facts and manipulations with finance indicators are created for this reason. We ask the customers and the media to be attentive and critical to the information that appears.