Alpha Services and Holdings S.A.

Alpha Services and Holdings S.A. Earnings Recaps

ALPHA.AT Financials 2 recaps
Q1 2026 May 21, 2026

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.

Key takeaways
  • 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.
Full recap
Q3 2025 Nov 7, 2025

Alpha Bank reported robust financial performance for the first nine months of 2025, achieving EUR 704 million in profits and a 13.9% return on tangible equity, driven by strong net interest income and strategic partnerships.

Key takeaways
  • Earnings per share reached EUR 0.27, representing 73% of the annual target, with a planned interim cash dividend of EUR 111 million.
  • The bank’s partnership with UniCredit deepened, as UniCredit increased its stake to approximately 30%, enhancing cross-border operational capabilities and client access.
  • Continued momentum in fee income from Asset and Wealth Management, along with solid growth in corporate lending, positions Alpha Bank favorably against peers.
  • EPS is projected to grow by 10% annually beyond 2025, supported by ongoing capital allocation to profitable loan growth and strategic initiatives.
Full recap