Alpha Bank ( (ALBKF) ) has released its Q4 earnings. Here is a breakdown of the information Alpha Bank presented to its investors.
Alpha Bank, a leading financial institution in Greece, provides a wide range of banking services including retail, corporate, and investment banking. The bank has a strong presence in the Greek financial sector, offering products such as asset management and real estate services.
In its latest earnings report, Alpha Bank reported a normalized profit after tax of €860.9 million for the fiscal year 2024, with a fourth-quarter profit of €195.8 million. The bank’s fully-loaded Common Equity Tier 1 (CET1) ratio remained stable at 16.3%, indicating a strong capital position.
Key highlights from the report include a 12% year-over-year increase in performing loan balances, driven by strong demand for business loans in Greece. The bank also saw an 8.2% year-over-year growth in customer funds, with significant increases in assets under management and customer deposits. Despite challenges from higher deposit and funding costs, core banking income rose by 1.7% year-over-year, supported by a 12% increase in fees.
Alpha Bank’s management remains optimistic about the future, highlighting the bank’s strategic acquisitions and partnerships aimed at enhancing its market position. The bank expects continued growth in loan volumes and fees, with a focus on maintaining shareholder value and delivering a superior customer experience.
Looking ahead, Alpha Bank is poised to capitalize on its strong momentum, with plans to accelerate growth and increase shareholder distributions while maintaining a robust capital position.