MIRA INFORM REPORT

 

 

Report Date :

05.12.2011

 

IDENTIFICATION DETAILS

 

Name :

ALPHA BANK CYPRUS LTD

 

 

Formerly Known As :

ALPHA BANK LIMITED

 

 

Registered Office :

Aglantzia, Alpha Bank Building, 3, Lemesou Avenue 2112 Nicosia

 

 

Country :

Cyprus

 

 

Financials (as on) :

2010

 

 

Date of Incorporation :

01.01.1960

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Business Services(sponging fabric for tailors and dressmakers)

 

 

No. of Employees :

760

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

EUR 2,500,000.00

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Cyprus

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

Name & Address

 

 

Correct Registered Name:

ALPHA BANK CYPRUS LTD

 

Address:

Aglantzia, Alpha Bank Building, 3, Lemesou Avenue
2112 Nicosia CYPRUS

 

P.O.Box:

21661, 1596

 

Telephone:

+357-22888888

 

Fax:

+357-22334868

 

Email:

secretariat@alphabank.com.cy

 

Web:

www.alphabank.com.cy

 

Business address:

Aglantzia, Alpha Bank Building, 3, Lemesou Avenue
2112 Nicosia CYPRUS

 

 

 

 

Summary of Ratings

 

Maximum Credit:

EUR 2,500,000.00

 

 

 

Payment

 

PAYMENT HABITS:

No Complaints

 

Comment:

A check against all available information sources of revealed that no late payment incidents against Subject Company exist.

 

 

Commercial Morality:

Good

 

Financial Strength:

Moderate

 

Credit Rating:

Average Risk

 

 

 

Legal Status

 

Legal Form:

Private Limited Liability Company

Private Limited Liability Company: It is incorporated by one or more individuals or companies (maximum: 50). It is managed by a board of directors consisted of minimum two individuals or juridical persons. Capital is required. The shareholders are liable for the companys debts to the extent of their respective interests in the capital. Its shares are not to be sold through public subscription. Private Limited Liability companies are obliged to file their accounts with the Registrar of Companies (Company Registry).

 

Date of foundation:

01.01.1960

 

Registration number and city:

C923 Nicosia

 

Registration date:

19.03.1960

 

Present Style Adopted on:

30.09.1998

 

Former registration name:

ALPHA BANK LIMITED, valid since: 01.10.1990, until: 20.12.2006
Lombard Natwest Banking Limited, valid since: 19.03.1960, until: 01.10.1990

 

 

National ID: C923

 

 

 

Former company names:

ALPHA BANK LIMITED
Lombard Natwest Banking Limited

 

Company Status

 

Registration status: 19.03.1960 - registered company
Activity status: 19.03.1960 - Company is active

 

 

 

Principals

 

Shareholders

 

 

Full Name

Personal ID

Function

Nationality

Equity

Address

Others (C923)
Registration: CYPRUS

 

Shareholder

 

14.37%

 

ALPHA BANK S.A.
Registration: GREECE

 

Shareholder

 

85.63%
119,462,498 Ordinary

 

 

Management

 

 

Full Name

Personal ID

Age

Function

Nationality

Qualification

Experience

Address

Mr. Lambros Papalambrianou

690859

42

Secretary

CYPRUS

Non Retrievable

Also director of ALPHA INSURANCE LIMITED.

Acropolis, Strovolos, 5, Troodotissis Street
2012 Nicosia CYPRUS

Mr. Grigorios Timpalexis

Pass: M317323

 

Director

GREECE

Non Retrievable

Non Retrievable

Strovolos, 106, Dasoupoleos Street
2013 Nicosia CYPRUS

Mr. Giorgos Michaelides

281794

71

Director

CYPRUS

Non Retrievable

aLSO DIRECTOR OF ALPHA FINANCE LIMITED and BENFLEET ENTERPRISES LIMITED.

Strovolos, 8, Niovis Street
2057 Nicosia CYPRUS

Dr. A. K. Kritiotis

 

 

Director

GREECE

Non Retrievable

Non Retrievable

GREECE

Mr. I. S. Monastiriotis

 

 

Director

GREECE

Non Retrievable

Non Retrievable

GREECE

Mr. Costas Kokkinos

Pass: T238207

 

Director

GREECE

Non Retrievable

Also director of ALPHA TRUSTEES LIMITED, ALPHA FINANCE LIMITED and ALPHA GROUP INVESTMENTS LTD.

Ilioupoli, Attiki, 11, Mandilara Street
Athens GREECE

Mr. Spyros Filaretos

Pass: T180916

 

Director

GREECE

Non Retrievable

Non Retrievable

Attiki, 50, Omirou Avenue
10552 Athens GREECE

Mr. Christos C. Giampanas

Pass: AA2963725

59

Director

GREECE

Non Retrievable

Non Retrievable

Ano Kifisia, Attiki, 4, Chiou Street
14562 Athens GREECE

Mr. Lazaros A. Papagaryfallou

Pass: AB2963725

40

Director

GREECE

Non Retrievable

Non Retrievable

Glyfada, Attiki, 15, Ippokratou Street
16674 Athens GREECE

 

 

Activities

 

Activities:

Services

 

Operations:


SIC
  main activity
  7389 Business Services, NEC (sponging fabric for tailors and dressmakers)

  6021 National Commercial Banks (banking)
  6029 Commercial Banks, NEC
  6022 State Commercial Banks (commercial banking)
  6162 Mortgage Bankers and Loan Correspondents (mortgage bankers and originators)

Alpha Bank Limited is a financial banking institution in Cyprus and a
subsidiary of ALPHA BANK S A.

Alpha Bank Limited provides a comprehensive and full range of banking and
finance services in the local market, to individuals and organisations. The
Bank provides both domestic banking services (e.g. current accounts, loan,
overdrafts, hire purchase, credit cards, automatic payments, etc.) and
international banking services (e.g. current & deposit accounts, foreign
currency loan, documentary credits, etc.)


Alpha Bank was founded in 1879 as a small commercial firm in the city of
Kalamata and ever since then it has developed into a dynamic Group offering a
wide range of financial services.

The acquisition of 51% of the shares of the Ionian Bank that took place in
1999 was signified a landmark in its history. The new enlarged Bank that
resulted from this merger is now the second largest commercial Bank in the
banking sector in Greece.

As a result of its continuous growth and expansion, the Bank currently
operates through a vast network of more than 700 branches all over Greece and
abroad. The presence of the Alpha Bank Group in international markets is
systematically promoted and enhanced through a dynamic and intensive program,
which includes the further development of the Group's banking activities. The
Group also maintains a wide network of correspondents (with foreign and
domestic credit institutions).

The activities of the Alpha Bank Group span the entire range of banking
services and together with the companies that comprise it, cover all aspects
of the financial sector, providing comprehensive services in the following
fields: Financing, Financial Services, Investment Services, Information and
other services, Real Estate, Hotels, Insurance Alpha Bank is also recognised
as an innovator in introducing new electronic services, as well as developing
new multidimensional deposit and credit accounts.

Business Activities
Banking

Industry Classifications - NAICS
» Financial Transactions Processing, Reserve, and Clearinghouse Activities (NAICS #52232)
»Commercial Banking (NAICS # 52211)

 

 

Imports

 

The subject does not engage in any import activities.

 

 

Exports

 

The subject does not engage in any export activities.

 

 

Agencies

 

Not Applicable

 

 

Trade Suppliers

 

Not Applicable

 

 

 

Workforce

 

Number Of Employees:

760

 

 

 

 

Description Of Premises

 

Address:

Aglantzia, Alpha Bank Building, 3, Lemesou Avenue
2112 Nicosia CYPRUS

Type of premises:

Premises

Address:

Stylianos Lena Square, Corner of Chilonos & Gladstonos Street
Nicosia CYPRUS

Type of premises:

Registered Address

 

Headquarters:

The company is operating from the offices of the address given overleaf.

 

Branches:

Subject has 37 branches:

'ALPHA BANK CYPRUS LIMITED - AGLADJIA BRANCH' 46 Larnacos Avenue, 2101,
Nicosia, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - AYIOS ANTONIOS BRANCH' 52 Corner Salaminos Avenue
& Evgenias Theodotou Street, 1060, Nicosia, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - AYIA PARASKEVI BRANCH' 52 Kennedy Avenue &
Stassinou Street, 2002, Nicosia, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - STROVOLOS BRANCH' 124 Strovolou Avenue, 2042,
Nicosia, Cyprus. These are office premises.
Operates as banking branch.


'ALPHA BANK CYPRUS LIMITED - STYLIANOU LENA BRANCH' 1 Stylianou Lena square,
1101, Nicosia, Cyprus. These are office premises.
Operates as I.B.U., Corporate Unit and Small & Medium Enterprises Unit.

'ALPHA BANK CYPRUS LIMITED - LATSIA BRANCH' Latsia,42 Archbishop Makarios III
Avenue, 2220, Nicosia, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - ENGOMI BRANCH' Engomi,24 Kyriakou Matsi street,
2408, Nicosia, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - MAKEDONITISSA BRANCH' 12A 28th Octovriou street,
2414, Nicosia, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - NIKIS BRANCH' 31 Nikis Avenue, 1086, Nicosia,
Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - MOLOS BRANCH' Hanseatic House,109 Spyrou Araouzou
Street, 3036, Limassol, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIM- LIMASSOL MAIN BRANCH' Maximos Plaza,213 Corner
Archbishop Makarios III Avenue & 2 Griva Digenis Avenue, 3030, Limassol,
Cyprus. These are shop premises.
Operates as Branch, I.B.U., Corporate Unit & Small & Medium Enterprises Unit.

'ALPHA BANK CYPRUS LIMITED - MAKARIOU BRANCH' 62 Archbishop Makarios III
Avenue, 3065, Limassol, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - YERMASOYIA BRANCH' Natia House,36 Georgiou A
Street, 4047, Limassol, Cyprus. These are shop premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - AGIAS FYLAXEOS BRANCH' 168 Agias Fylaxeos street,
3083, Limassol, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - OMONOIAS BRANCH' Ayios Spyridonas,40 Omonoias
Avenue, 3052, Limassol, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMIT - FRANK. ROUSEVELT BRANCH' Corner Franclin Roosevelt
Street & Demokratias Street, 3012, Limassol, Cyprus. These are office
premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - KOLONAKIOU BRANCH' 36 Kolonakiou Avenue, 4103,
Limassol, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - MAIN LARNACA BRANCH' Corner Griva Dighenis Avenue
& Kritis Street, 6030, Larnaca, Cyprus. These are office premises.
Operates as banking branch, I.B.U., & Small & Medium Enterprises Unit.

'ALPHA BANK CYPRUS LIMITED - PHINIKOUDES BRANCH' 45 Athinon Avenue, 6022,
Larnaca, Cyprus. These are shop premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - KAMARES BRANCH' Kamares Areas,63 Constantinou
Palaiologou Street, 6037, Larnaca, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - STRAT. TIMAYIA BRANCH' Omega Business Centre,106
Stratigou Timayia Avenue, 6057, Larnaca, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - MAKARIOU BRANCH' 28 Archbishop Makarios III
Avenue, 6017, Larnaca, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - CORPORATE UNIT' 4 Enomenon Ethnon street,
Anastasia Hadjiyianni Bldg, 1st floor, Larnaca, Cyprus. These are office
premises.
Operates as corporate unit.

'ALPHA BANK CYPRUS LIMITED - PAPHOS MAIN BRANCH' 42-44 Archbishop Makarios III
Avenue, 8010, Paphos, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - ELLADOS BRANCH' 82 Ellados Avenue, 8020, Paphos,
Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMIT - POLIS CHRYSOCHOUS BRANCH' 1 Ayiou Nicolaou Street,
8820, Paphos, Cyprus. These are shop premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - POSIDONOS BRANCH' 49 Posidonos Avenue, Tourist
Pavilion, 8042, Paphos, Cyprus. These are shop premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - ELEFTHERIOS VENIZELOS' Lito Court 3,56 Eleftheios
Venizelos street, 8021, Paphos, Cyprus. These are shop premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - GRIVAS DIGENIS BRANCH' 57 Griva Dighenis Avenue,
8047, Paphos, Cyprus. These are shop premises.
Operates as banking branch, Corporate Unit & Small & Medium Enterprises Unit.

'ALPHA BANK CYPRUS LIMITED - KISSONERGA BRANCH' 7 Christou Keli Avenue, 8574,
Paphos, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - TOMBS OF THE KINGS' 62 Tombs of the Kings avenue,
8047, Paphos, Cyprus. These are office premises.
Operates as banking branch.

'ALPHA BANK CYPRUS LIMITED - PARALIMNI BRANCH' 162 1st April Avenue,
Paralimni, 5280, Famagusta, Cyprus. These are shop premises.
Operates as banking branch and Small & Medium Enterprises Unit.

'ALPHA BANK CYPRUS LIMITED - AYIA NAPA BRANCH' 34 Nissi Avenue, Ayia Napa,
5330, Famagusta, Cyprus. These are shop premises.
Operates as banking branch.

'CARDS CENTER' Corner, Salaminos avenue and Evgenias Theodotou street,
Nicosia, Cyprus. These are office premises.

'ALPHA INSURANCE LIMITED' Corner, Kennedy Avenue & Stassinou street, Nicosia,
Cyprus. These are office premises.

ARADIPPOU BRANCH,61-63 Archbishop Makariou III Avenue, Aradippou, Larnaca,
6303, Cyprus. These are office premises.

MOSCOW - REPRESENTATIVE OFFICE
Trehprudny Business Centre
Trehprudny Pereulok 9
Building No.2, Office No.101
Moscow 123001, Russia
Tel.: +74959375687, Fax: +74959375688

 

 

Related Companies

 

Parent Company
ALPHA BANK S.A. , GREECE

*PLEASE NOTE ADDITIONAL INFORMATION ON RELATED COMPANIES:

"ALPHA BANK S.A.” - Parent company, registered in Greece.

In addition, the subject is also related with:

ALPHA FINANCE LIMITED, Cyprus
This subsidiary operates as provision of brokerage and financial advisory
services.
Year started: 2000.


ALPHA INSURANCE LIMITED, Cyprus
This subsidiary operates as provision of insurance services for long-term &
general business.
Year started: 1993.

ALPHA GROUP INVESTMENTS LTD, Cyprus

ALPHA TRUSTEES LIMITED, Cyprus.


Furthermore, some of the companies that belong to ALPHA BANK GROUP are: Alpha Finance
AXEPEY (100%), Alpha Finance US Corporation S.A, (100%), Alpha Finance Romania
S.A. (99.98%), AEF European Capital Investments (100%), Alpha Ventures A.E.
(100%), Alpha Asset Management A.E.D.A.K. (100%), Alpha Private EPEY (100%),
Alpha Asset Finance C.I. (100%), Alpha Bank Romania (99.9%), Alpha Bank a.d.
Skopie (100%), Alpha Bank Srbjia A.D. (100%), Alpha Bank Jersey Ltd (100%),
Alpha Credit Group A.E. (100%), Alpha Group Jersey A.E. (100%), Alpha Leasing
Romania S.A. (99.98%), ABC Factors A.E. (100%), Alpha Insurance Brokers A.E.
(99.90%), Ionian Hotel Enterprises S.A. (94.14%), etc.

 

 

Bankers

 

CENTRAL BANK OF CYPRUS
1076 Nicosia, 80, John Kennedy Avenue


Account numbers are not disclosed.

 

 

 

Press

 

04.02.2011, http://www.news.cyprus-property-buyers.com/2011/02
TODAY’S Cyprus Mail carried five notices advising that Alpha Bank Cyprus had started legal proceedings against three property developers and seven of their clients in matters involving the non-payment of Swiss Franc mortgages.

This first notice, No. 1499/10, names the defendants as:
1.Bashir-Aboularhim Mochameo Mussa (Passport No. AB 110438), from Paphos
2.Alpha Panareti Public Ltd of Paphos

The Paphos court orders that the defendant 1 files an appearance within 30 days from the publication date.

The second notice, No. 1565/10, names the defendants as:
1.Martin Jeremy Rhodes (Passport No. GB304290956), from Paphos
2.Raymond Maplethorpe (Passport No. GB650204983), from Paphos
3.G & V Hadjidemosthenous Ltd

The Paphos court orders that the defendants 1 and 2 file an appearance within 30 days from the publication date.

The third notice, No 2692/10, names the defendants as:
1.Benjamin Mark McGann (Passport No. 019373617), from Paphos
2.Ruth Olivia Rachel McGann, from Paphos
3.Alpha Panareti Public Ltd of Paphos

The Paphos court orders that the defendants 1 and 2 to file an appearance after the service of the writ of summons.

The fourth notice, No. 1671/10, names the defendants as:
1.Christopher Manning (Passport No. GB800341271), from United Kingdom or Paphos
2.Roseann Manning (Passport No. 800341270), from United Kingdom or Paphos
3.J. Aristodemou Ideal Homes Ltd (Reg. No. 31893), from Paphos

The Paphos court orders that the defendants 1 and 2 file an appearance within 30 days from the publication date.

The fifth notice, No. 2883/10, names the defendants as:
1.Raymond Maplethorpe (Passport No. 650204983), from Paphos
2.Lisa Julie Maplethorpe (Passport No. 650638150), from Paphos

The Paphos court gives instructions that defendants 1 and 2 Respondents file an appearance within 30 days from the publication date.

In all the above notices, Alpha Bank Cyprus Ltd is named as the plaintiff.

These are the first stages in legal proceedings that may result in those named losing their homes in Cyprus. There is a strong possibility that they may not have read the notices, which were published in today’s Cyprus Mail, particularly if they are presently living in the UK.

 

19.07.2011, www.alphabank.com.cy
Alpha Bank Cyprus Ltd receives Dual Award from Deutsche Bank
Alpha Bank Cyprus Ltd has for yet another year, received a distinction from Deutsche
Bank, the International Universal Bank, for the “2010 EUR Straight-Through
Processing (STP) Excellence Award” and the “2010 USD STP Excellence Award”.
The above awards are given exclusively to Banks with which Deutsche Bank
collaborates on an international level, and which show the highest level of quality and
speed of transactions in Euro and US Dollars respectively. The awards certify Alpha
Bank’s steady and excellent record in making international payments which are
conducted automatically (straight-through processing) to correspondent banks.
These two distinctions place Alpha Bank in a group of select banks in Europe, the
Middle East and Africa which fill the criteria of superior quality that have been set by
Deutsche Bank. At the same time they reflect the commitment Alpha Bank Cyprus
Ltd has made to its customers, to offer the best possible service.

 

01.11.2011, www.alphabank.com.cy
Allpha Bank supports a publication titled Safe Travel for preschool and middle school students

 

 

Share Capital

 

Registered capital:

EUR 510,000,000.00 since 29.02.2008

Number of Ordinary:

600,000,000

Value per share of Ordinary:

EUR 0.85

 

Issued capital:

EUR 118,575,000.00 since 29.02.2008

Number of Ordinary:

139500000

Value per share of Ordinary:

EUR 0.85

 

Paid-up capital:

EUR 118,575,000.00 since 29.02.2008

 

 

Charges

 

None in current years

 

Finance

 

Amounts shown in Euro (EUR) 

2010

2009

 



PROFIT & LOSS

 

Sales Turnover

310,406,928.00

310,897,277.00

 

Cost of Sales

-132,892,425.00

-148,302,183.00

 

Gross Profit

177,514,503.00

162,595,094.00

 

Other Operating Expenses

-115,705,989.00

-89,887,099.00

 

Operational Profit

61,808,514.00

72,707,995.00

 

Profit Before Taxation

61,808,514.00

72,707,995.00

 

Corporate Income Tax

-6,554,798.00

-8,621,812.00

 

Net Profit

55,253,716.00

64,086,183.00

 

Earnings per share

39.61

45.94

 



BALANCE SHEET

 

FIXED ASSETS

4,859,838,685.00

5,079,111,234.00

 

Property, Plant & Equipment

32,727,954.00

34,086,426.00

 

Intangible Assets

399,955.00

364,705.00

 

Investment in Affiliated and Associated Units

16,428,979.00

16,428,909.00

 

Investments Avaialable for Sales

4,361,562.00

16,388,778.00

 

Other Financial Fixed Assets

2,765,965.00

700,459.00

 

Total Fixed Assets

4,916,523,100.00

5,147,080,511.00

 

CURRENT ASSETS

3,377,533,345.00

3,040,789,124.00

 

Taxation Receivable

636,028.00

 

 

Cash in Hand & at Bank

71,816,178.00

75,959,371.00

 

Other Current Assets

7,331,736.00

3,598,648.00

 

Short - Term Investements

26,681,829.00

673,447.00

 

Total Current Assets

3,483,999,116.00

3,121,020,590.00

 

Total Assets

8,400,522,216.00

8,268,101,101.00

 

Reserves

408,333,772.00

354,067,093.00

 

Total Equity

526,908,772.00

472,642,093.00

 

Long - Term Debts

3,488,886,992.00

3,783,140,876.00

 

CURRENT LIABILITIES

3,288,185,366.00

3,100,262,727.00

 

Taxation Due

 

927,821.00

 

Cash and Amounts Due From Banks

1,096,541,086.00

911,127,584.00

 

Total Current Liabilities

4,384,726,452.00

4,012,318,132.00

 

Total Equity & Liabilities

8,400,522,216.00

8,268,101,101.00

 

SHARE CAPITAL

118,575,000.00

118,575,000.00


Please note that the financials were obtained from www.alphabank.com.cy.

Please note that our rating system has the amount of 2.500.000 EUR as a maximum credit amount ceiling.

 

 

Ratios

 

 

2010

2009

Current ratio - 2 is an acceptable result, but even 1,8 is considered excellent in bank practice
Current Assets / Current Liabilities

0.79

0.78

Quick ratio (QR ) - 1 is an excellent result, but anything above 0,8 is considered good
(Current Assets - Inventory) / Current Liabilities

0.79

0.78

Return on assets ( ROA )
Net Profit After Tax / Total assets

0.01

0.01

Return on equity ( ROE )
Net Profit After Tax / Total Equity

0.10

0.14

Return on sales ( ROS )
Net Profit x 100 / Sales Turnover

17.80

20.61

Cash Liquidity Ratio
Liquid Assests / Current Liabilities x 100

1.64

1.89

Current Assets Ratio (%)
(Current Assets - Accounts Receivable) / Current Liabilities x 100

79.46

77.79

Shareholder Equity Increase Ratio (%)
Total Equity / Share Capital x 100

444.37

398.60

 

 

GENERAL COMMENTS

 

MAIN SOURCES OF INFORMATION - FOR THIS REPORT

i. Visited Official Companies’ Registry

ii. Interview with Company / Correspondence

iii. Desk Research

iv. Search through Internet Subscription Databases (Business Information)

v. Specialized Media Search Global & Local

vi. Search through internet Social Networks

vii. Negative Record Database

viii. Relationship/Directorship Search through Database

The present limited liability company has been registered in Cyprus on 19/03/60. It was operating as a Banking Institution, as a member of the National Westminster Bank, one of the world’s leading Banking Groups. It has expanded its activities in Cyprus, offering comprehensive banking services, domestically and internationally.

On 30/09/1998, the organization’s name has changed to the present one "ALPHA BANK LIMITED”. The name of the organization has changed due to the fact that about 75% of its shares have been taken over by the "Alpha Credit Bank A.E.” of Greece. As it was published on newspapers in Cyprus, an amount of CYP 21.000.000 has been paid for this transaction.

We tried contacting the company in question several times; however our attempts were unsuccessful.

Please note that the information included in the report was obtained from the Official Companies’ Registrar anf from www.alphabank.com.cy.

A check against our records revealed that no negative payment incidents against Subject Company, such as unpaid invoices, dishonored cheques and utility bills, bankruptcies exist etc.

Services sector

The services sector has become increasingly important as indicated by its 70% contribution to GDP and its share in employment, while the importance of agriculture and manufacturing is declining steadily.

Services include banking and financial services, insurance, advertising, legal, architecture and civil engineering, accounting and auditing, consultancy, design, electrical and mechanical engineering, market research, medical, printing and publishing, public relations, education, software development, tourism and related services.

The size and rate of growth of this sector, which has been the fastest in recent years, has led some observers to call Cyprus a "service economy".

Wholesale and Retail Trading accounts for 12,7% of GDP

PWC - Source: Statistical Service of the Republic of Cyprus - April 2008.
Ref: http://www.pwc.com/extweb/home.nsf/docid/EE7BCBBF879B0C518025711B0045B3FD

COUNTRY DEVELOPMENTS:

On, 04th of November 2011 published that: Moody's Investors Service has today downgraded Cyprus's government bond ratings to Baa3 from Baa1 and placed the ratings on review for further possible downgrade. The rating agency has also downgraded Cyprus's short-term rating to Prime-3 from Prime-2 and placed it on review for further possible downgrade.
The key drivers for today's rating announcement are: 1. The high likelihood that the Cypriot banking system will require state support in 2012 as a result of the large expected write-downs on its exposures to Greek government bonds... 2. The Cypriot government's loss of international market access and the resulting likelihood that the government will need to seek emergency funding from official sources. 3. Cyprus's weaker-than-expected institutional capacity to approve and implement the budgetary and structural changes that are needed to correct the government's rising debt trajectory and improve the longer-term sustainability of its public finances.

On 10th of August 2011 Cyprus mail published that: Fitch cut Cyprus’ credit rating by two notches to BBB on Wednesday due to fiscal slippages, saying the island state was likely to require a bailout to meet its funding needs.

"The two-notch downgrade of ratings to 'BBB' reflects the actual and anticipated fiscal slippage, compounded by Fitch's expectation that the sovereign will be unable to access the international debt markets in order to refinance an increasing debt maturity profile in H211 and H112," Fitch said in a statement.

The other two main rating agencies, Standard and Poor’s and Moody’s, both cut the island's rating at the end of July. Moody's rates Cyprus Baa1, Standard and Poor's BBB-plus.

On 19th of August 2011 Financial Mirror News published that: The industrial turnover index for reached 129.8 in May (base 2005=100) according to the Statistical Service, recording an increase of 3.8% compared with May 2010. Industrial production in the same period rose by 1.1%. For the period January-May 2011, the turnover index recorded an increase of 1.9% over the same period of the previous year. For manufacturing alone, the turnover index for May 2011 reached 121.0, recording an increase of 1,5% compared with May 2010.

The price index of construction materials reached 126.11 units (base year 2005=100,00) in July according to the Statistical Service Cystat, recording a marginal increase of 0.02% over the previous month. In the period January - July 2011, the index recorded an increase of 4.13% compared to the same period last year. The biggest increase so far has been in electromechanical products, price of which rose compared with the year earlier by 8.1% in the first seven months of the year. Metallic products rose by 6.9% and minerals rose by 4.3% in the same period. A milder increase of 2.9% was recorded for mineral products, while a decline of 0.4% was recorded for wood, insulation materials, chemicals and plastics. (End of Country Developments).

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.35

UK Pound

1

Rs.80.50

Euro

1

Rs.69.14

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

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NB

                                       New Business

 

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This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

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