Alpha Services and Holdings S.A. ALPHA.AT · Stock Open Alpha Services and Holdings S.A. in new tab

Alpha Bank shares inched up by 0.5% after reporting a largely in-line first quarter with modest growth in net interest income and fees, but the market appeared cautious given ongoing headwinds including geopolitical uncertainty and nonrecurring charges impacting overall profitability.

• Reported profit was EUR 182 million (EUR 221 million normalized), down sequentially and year-on-year due to one-off costs from a Voluntary Separation Scheme and weaker income from associates.
• Net interest income increased 1% quarter-over-quarter and 5% year-over-year, reflecting steady underlying lending dynamics.
• Fee income rose 3% sequentially and surged 29% year-on-year, contributing positively to revenue diversification.
• Cost-to-income ratio held at 39%, within guidance, and cost of risk remained stable at 44 basis points.
• Performing loans grew double digits year-on-year, and customer deposits increased on both headline and underlying bases, supporting asset quality and capital generation amid challenging external conditions.