Alfa Bank increased spending on reserves due to blocking assets in the West
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Alfa-Bank, which is under sanctions, has increased spending on reserves for blocked assets. This follows from his reporting according to RAS, which was analyzed RBC.
The largest increase was shown by the bank’s expenses to cover “other losses”. In the second quarter, they amounted to 29.5 billion rubles, which is almost four times more than in the first (7.6 billion rubles). The increase in expenses under this item “is mainly due to blocked assets,” a representative of Alfa-Bank explained to RBC.
In April-June, the bank’s expenses on provisions for loans increased by more than a quarter, from 24.6 billion rubles. in the first quarter to 31.1 billion rubles. in the second. In the first half of the year, the credit institution’s expenses under this item amounted to 55.7 billion rubles. In the second quarter, Alfa-Bank’s expenses for reserving possible losses on securities approached 2 billion rubles. In January-March they amounted to 356.8 million rubles.
“The bank has always been conservative in terms of provisioning, blocked assets are no exception,” commented a representative of the credit institution.
In 2022, against the background of the imposed sanctions, Alfa-Bank received the largest loss in its history – 117.1 billion rubles.
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