/IRBIS, November 23, 2011/ - Moody's Investors Service has assigned November 22 long-term deposit rating on the national scale (NSR) of JSC "Subsidiary Bank "Alfa-Bank" (Kazakhstan) at B1.kz. NSR is not a specific prediction.

At the same time, the following ratings of Alfa-Bank on a global scale have been confirmed: self-rating of financial strength (BFSR) E+, which corresponds to the level of B2 on the long scale, long- term deposit rating in foreign currency and local currency short- term bank B2 and deposit rating in foreign and national currencies Not Prime.

It is reported that Moody's ratings confirmation of Alpha Bank on a global scale is based on data from the audited financial statements for 2010 prepared in accordance with IFRS, unaudited data up to the 3rd quarter of 2011, prepared in accordance with Kazakh law.

In accordance with the criteria of Moody's, NSR of Alpha-Bank at B1.kz is derived from long-term deposit rating in the global currency and B2 reflects the relative position of the creditworthiness of the Bank under its jurisdiction - in Kazakhstan. Assignment of NSR at B1.kz reflects a relatively strong position of the Bank compared with other Kazakh banks with rating of B2 on a global scale. Any future changes to the NSR of Alpha-Bank will be linked to the creditworthiness of the Bank, as reflected in the ratings on a global scale.

Confirmation by Moody's ratings of Alpha-Bank on a global scale with a "stable" outlook also reflects the bad position of the Bank in the local market because of its modest franchise - with a market share of less than 1% of total assets - that characterizes the Bank as an emerging player in the Republic of Kazakhstan. However, Alfa-Bank in Kazakhstan continues to develop its business and doubled its assets over the past two years. From a financial point of view, Alfa-Bank supports the demands of capital and liquidity cushion, as well as profitability, which are relatively adequate for its rating level - as of Q3 2011, according to the Bank's capital adequacy ratio (tier 1) is 13 4%, liquid assets accounted for 52% of total liabilities, and return on average equity was 27%.

[2011-11-23]