Local lender Alpha Bank Romania wants to launch a bond issuance of RON 300 million (EUR 65.7 million) on the local capital market in order to diversify its financing sources.

The bank’s shareholders have approved the bond issuance, and the decision is valid for the next 16 months. The international rating agency Moody’s has recently assigned Alpha Bank the Ba3 rating for long-term deposits in RON and foreign currency, a base rating of B2, and a Ba2 counterpart rating.

Alpha Bank Romania recorded a net profit of RON 114.6 million (EUR 25.1 million) in 2016. Its operating revenues rose by 16% last year over 2015. The loan portfolio reached RON 11.4 billion (EUR 2.5 billion), while deposits grew by 26% to RON 7.9 billion (EUR 1.7 billion).

Alpha Bank Romania gets EUR 50 mln loan from IFC

editor@romania-insider.com