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Alfa Bank seeks over $30 mln from Belarusian company

13:23 19/09/2011

MOSCOW, September 19 - RAPSI, Sergei Feklyunin. Alfa Bank filed two lawsuits against a Belorusian company for about $30 million in debt, a court told the Russian Legal Information Agency (RAPSI).

The lawsuits against Brestenergo have been registered with the Moscow Commercial Court.

The bank is seeking early repayment of two loans granted in spring 2010. The Belarusian company defaulted in servicing the loans due to sharp devaluation of Belarus currency, the bank said.

This year Balarus is facing serious economic problems, particularly foreign currency shortage and rampant inflation.

Established in 1990 Alfa Bank is Russia's largest bank in terms of assets, own capital and client accounts. Its primary shareholder is AB Holding (99.89 percent), owned by ABH Holding Corp, a part of Alfa Group. The bank's net profits in 2010 under Russian Accounting Standards AAP amounted to 2.993 billion rubles ($107 million).

Brestenergo was established in May 1954. It generates, transmits and distributes electric and thermal power, according to the company's website.

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Alfa Bank seeks over $30 mln from Belarusian company

13:23 19/09/2011 Alfa Bank filed two lawsuits against a Belorusian company for about $30 million in debt.
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