Alpha Bank has saw robust financial performance during the first nine months of 2025, with post-tax profits reaching €703.7 million and a landmark acquisition strengthening its position in the Cypriot market.

The bank’s profits after tax amounted to €703.7m for the nine-month period of 2025, while the third quarter saw profits of €186.7m.

Correspondingly, the adjusted profits after tax were €677.1m for the nine months and €217.2m for the third quarter, driving the return on tangible equity (RoTBV) to 13.9 per cent for the nine months and 12.9 per cent for the third quarter.

The fully-loaded Common Equity Tier 1 (FL CET1) ratio remained strong at 15.7 per cent, and the tangible book value per share stood at €3.28.

The group’s operating performance during the third quarter was characterised by stable organic profitability and continuous balance sheet strengthening.

Net credit expansion in Greece amounted to €0.7 billion during the quarter, contributing to a total increase in performing loans of €0.8 billion on a quarterly basis (a rise of 2.2 per cent) and €4.1 billion year-on-year (a rise of 13 per cent), with the relevant portfolio reaching €35.7 billion.

Concurrently, the group’s deposits increased by €1.6 bn (a rise of 3.1 per cent quarterly), with term deposits now constituting 27 per cent of the total.

Total customer funds rose by 9.2 per cent annually, reflecting both the strong deposit base (a rise of 6.3 per cent) and the increase in assets under management (a rise of 17.2 per cent).

The non-performing exposures (NPE) ratio was set at 3.6 per cent, with the cost of risk remaining aligned with management’s target, at 44 basis points in the third quarter and 45 basis points for the nine-month period.

The organic profitability of the quarter contributed positively by 38 basis points to the FL CET1 ratio, which stood at 15.7 per cent after incorporating the dividend distribution provision of €93m.

Overall, the provision for dividends since the start of the year amounts to €352m.

Taking into account planned merger and acquisition (M&A) transactions, the CET1 ratio stands at 15.8 per cent, while the total capital adequacy ratio is 21.2 per cent.

The bank’s tangible net worth reached €7.6 bn, increasing by 1.1 per cent quarterly and 11.3 per cent annually (or 13 per cent excluding dividend payments), confirming the continuous enhancement of shareholder value.

In terms of funding, in October 2025 the bank successfully completed the issuance of a six-year senior preferred green bond of €500m, with a historically low margin of 92 basis points over the mid-swap, the lowest achieved by a Greek bank for a corresponding duration.

During the same period, the acquisition of almost all of the assets and liabilities of Astrobank in Cyprus was completed.

This development is expected to increase the group’s earnings per share by approximately 5 per cent with the full integration of synergies and further strengthen the presence in the Cypriot market, making Alpha Bank the third-largest bank in the country.

Regarding results, net interest income amounted to €402.2m in the third quarter (a rise of 1 per cent quarterly), while for the nine-month period it registered a marginal decrease (a drop of 3.6 per cent annually).

Net fee and commission income stood at €119.7m (a drop of 1.6 per cent quarterly), with a significant annual increase (a rise of 14 per cent).

Recurring operating expenses remained under control at €213.9m, driving the core pre-provision income to €317.5m for the quarter (a drop of 3.8 per cent).

The adjusted net profits after tax for the third quarter amounted to €217m, confirming the stable organic performance and effective risk management, despite individual adjustments and M&A transactions.

“Alpha Bank recorded strong performances during the third quarter, confirming its ability to create value for all stakeholders, capitalising on the favourable macroeconomic environment, in the markets where it has a presence,” the CEO of Alpha Bank, Vasilis Psaltis, said.

“The profits after tax amounted to €187m in the third quarter, while on a normalised basis they reached €217m, a fact that underlines the dynamic of our business model which is characterised by diversification in revenue sources,” he added.

“For the nine-month period of 2025, the net profits after tax amounted to €704m, founded on our strong capital position, with the CET1 ratio standing at 15.7 per cent, a fact that allows us to consistently implement our goals for organic growth and at the same time, applying a clear framework of capital management, focus on selective acquisitions and the growth of returns for our shareholders,” he continued.

“Provisions amounting to €352m have already been formed for distributions, while an interim dividend of €111m will be paid in December,” Psaltis stated.

“The performing loan portfolio continued to grow, mainly thanks to the dynamic of business lending, with targeted expansion in Greece and abroad,” he remarked.

“Customer deposits increased by 9 per cent annually, reaching €74.2 bn, thanks to significant inflows, especially from corporate clients, and the continuous growth of funds under management,” he stated.

“We expect that the growth of business lending will remain strong, while we maintain realistic our estimates for retail banking, especially housing loans, where the recorded positive momentum is estimated to remain moderate in the short term,” he said.

“Our strategic partnership with UniCredit, which was recently strengthened by the decision to increase its participation in the Bank to approximately 29.5 per cent, confirms the confidence in our Group and the Greek economy,” he explained.

“The cooperation has already yielded tangible results in the areas of Wholesale, Transaction Banking and wealth management, while the exchange of know-how in several areas, such as IT and procurement, is also significant,” he added.

“The prospect of creating long-term value for both parties is clearly reflected in the ongoing commitment and investment of UniCredit,” Psaltis said.

“At the same time, we made significant progress in our targeted acquisitions and achieved, during the third quarter, the full integration of FlexFin,” he remarked.

“A few days ago we completed the acquisition of AstroBank, which is expected to have a positive contribution already from the results of the next quarter, while the completion of the transaction with AXIA Ventures is expected before the end of 2025,” he stated.

“As we enter the final phase of our three-year strategic plan, we remain committed to sustainable growth and the achievement of attractive returns, focusing on achieving credit expansion rates of medium to high single-digit percentages, revenue diversification, strict cost control and a clear framework regarding the capital strategy,” he concluded.

“I am proud of the dedication of our people, which is the foundation of our success, and positions us dynamically for the future,” Psaltis affirmed.

In this context, Alpha Bank will organise an Investor Day in the second quarter of 2026, in order to present the strategic priorities for the coming years and to highlight the way in which it will utilise the momentum it has already achieved.