In 2009, Alfa-Group “created by a consortium structure” Alpha troubled assets »(Alfa Distressed Assets, ADA), said in a memorandum of Alfa Bank to issue Eurobonds. Tasks ADA – the accumulation of non-core assets and management. “These non-core assets obtained as a result of restructuring of problem loans, originally issued by a group of Alfa Bank and then sold ADA at fair value. Purchase of ADA such troubled assets is mainly funded by Alfa Banking Group (ABH Financial Ltd and its structure, including Alfa Bank), which issues the ADA loans on commercial terms “, – stated in the memorandum. Today, ADA transferred credits of approximately $300 million in future problem assets will be sold ADA, and the Alfa Banking Group will finance these transactions, said in the memorandum. Assets managed by ADA “Senior Manager, Asset Management” – “With the A1, which is also part of the Alfa Group. Revenues from the sale of troubled assets ADA should be used to repay debt to Alfa Banking Group, despite the fact that the salvage value received by ADA from the sale of assets to be available to shareholders ADA.

Bank may sell in the ADA assets acquired during the recovery or restructuring of troubled loans, according to the current market assessment, if it is mutually beneficial to the parties, said a spokesman for Alfa-Bank. $300 million – is the amount of loans to Alfa Bank in favor of companies ADA on market conditions in 2009

representatives of the Central Bank has repeatedly expressed a negative opinion on the transfer of problem loans by banks in the various structures associated with to remove them from the balance sheet, since in such cases, banks often do not create reserves for these loans. Since the sale of assets structures ADA takes place after completion of the recovery or restructuring of problem debts, then the volume of overdue loans and the amount of reserves it has no effect, said a bank representative.

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