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Full Steam Ahead

Alpha Bank (Alpha), a private Greek bank, reported €611m in net profit, a 66% jump from FY22, as the bank benefited from an elevated interest rate environment with little impact from deposit migration and strong cost control. Alpha delivered a normalised return on tangible equity (RoTE) of 12.9% in FY23, beating its own upgraded target of >11.5%. The increased profitability coupled with a robust capital position (fully loaded common equity tier 1 (FL CET1) of 14.3%) have enabled a proposed dividend of €0.05 a share, subject to regulatory approval.

28 March 2024

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