Slide 1: Alpha Bank Q3 2023 Results
Alpha Bank Q3 2023 Results Investor Presentation 3rd November 2023
Slide 2: Disclaimer
Disclaimer Systemic bank established in 1879 This presentation has been prepared and issued by Alpha Services and Holdings S.A. and its 100% subsidiary, Alpha Bank S.A., solely for informational purposes. It is hereby noted that on 16.4.2021, the demerger of the credit institution under the former n
Slide 3: Pages
Pages • Business Update 3 • Financial Performance Analysis 14 Alpha Bank • Appendix ▪ Macroeconomic Update 32 ▪ P&L 34 ▪ Volumes 38 ▪ Asset Quality 49 ▪ Capital 54 ▪ ESG 58 ▪ Segmental Information 63 3
Slide 4: The trusted relationship bank of Greece
The trusted relationship bank of Greece Our Identity and Strengths… …are reflected in our customer proposition Privately owned since inception Clients perceive Alpha Bank as more reliable, stable, humane and accessible with a mindset to deliver shareholder value and inspire We are renowned for quali
Slide 5: We are well on track to achieve our business plan ambitions
We are well on track to achieve our business plan ambitions 9M 2023 Performance Key financial targets as per Investor Day Profitability Return on Tangible Equity1 Return on Tangible Equity1 • +8% q/q net interest income 12.8% in 9M 2023; 13.9% in Q3 >12% in 2025 • +12% q/q fees • 42.7% cost-income r
Slide 6: Our six strategic priorities for 2025
Our six strategic priorities for 2025 1 2 3 4 5 6 Boost digital and focus Revamp service Consolidate Improve return on Maintain the resilience Leverage on high-value model to increase leadership in deployed capital in of our balance ESG for segments in Retail penetration in Wealth Wholesale Internat
Slide 7: Alpha Bank has entered into a landmark partnership with UniCredit
Alpha Bank has entered into a landmark partnership with UniCredit €300m cash 1 Merger • Joining forces in Romania by combining respective subsidiaries in 9.9% the country to capitalise on the very favourable geopolitical and common shares in Romania economic outlook for the country and create a Top
Slide 8: The merged entity will have notable scale
Merger of Romanian subsidiaries The merged entity will have notable scale Combined bank positioning in Romanian banking sector Pro-forma bank key metrics Total assets 2022 market share Equity, 2022 Market Cap2 €bn €bn Based on 2022 data Pro-forma €bn if not stated entity otherwise1 #1 20% 1.8 3.6 Ne
Slide 9: Long term commercial partnership across different areas
Commercial partnership Long term commercial partnership across different areas AlphaLife key metrics • Alpha to sell to UniCredit 51% of the share capital of AlphaLife c. 45k Clients • Alpha Bank to enter into a long-term exclusive distribution agreement with AlphaLife to distribute products procure
Slide 10: Partnership underpinned by purchase of stake in Alpha Bank
Offer to acquire HFSF’s stake Partnership underpinned by purchase of stake in Alpha Bank UniCredit investment in Alpha Bank First investment by a strategic • On October 23rd 2023, UniCredit submitted an offer to the Hellenic Financial Stability Fund investor in the post-crisis era (“HFSF”) to purcha
Slide 11: Transaction promotes Alpha Bank’s strategic objectives
Transaction promotes Alpha Bank’s strategic objectives Romania • Combined entity attains critical size, attaining top 3 status and improving profitability potential • Presence retained through capital efficient minority holding to capitalize on favorable outlook • Exposure to value uplift and additi
Slide 12: Uplift to financial targets from the transaction
Uplift to financial targets from the transaction Key financial targets Neutral • 10% contribution from a more profitable group, Net profit2 • Funding cost savings (lower MREL requirements) • Reinvestment of cash proceeds ✓ Higher capital ratios > 100bp ✓ Tangible Equity unchanged CET1 ratio • c90bp
Slide 13: Uplift in business units’ profitability and reallocation of capital
Uplift in business units’ profitability and reallocation of capital driving improvement in Group returns Wealth & NPAs5 & Retail Wholesale3 International Group Treasury4 Other 17.4% 34% 12.8% 28% 29% Business Unit 21% (4.6%) ROCET11 18% 20% 10% 11% 9.5% FY 22 9M 23 (19%) (27%) 6 ROCET1 ROCET1 Deferr
Slide 14: Pages
Pages • Business Update 3 • Financial Performance Analysis 14 Alpha Bank • Appendix ▪ Macroeconomic Update 32 ▪ P&L 34 ▪ Volumes 38 ▪ Asset Quality 49 ▪ Capital 54 ▪ ESG 58 ▪ Segmental Information 63 14
Slide 15: Q3 2023 Group Profit & Loss
Q3 2023 Group Profit & Loss Reported Profit After Tax Profit & Loss yoy % 9M 23 9M 22 Q3 23 Q2 23 q/q +167% (2%) (€ mn) change €191mn €188mn Net Interest Income 1,341 919 46% 477 440 8% Net fee and commission Income 294 296 (1%) 109 97 12% €111mn Trading & Other Income 63 212 (71%) 2 40 (96%) €70mn
Slide 16: Q3 2023 Group Balance Sheet
Q3 2023 Group Balance Sheet Tangible Book Value Balance Sheet Sep-23 Jun-23 Sep-22 q/q Group, € mn (€ bn) +9% +3% 6.2 Assets 74.4 72.9 77.4 1.5 6.1 Securities 16.2 15.5 13.1 0.7 5.9 5.8 5.7 Cash & Cash Balances 7.1 6.6 12.2 0.5 Net Loans 38.8 38.7 38.9 0.1 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 ECB balances
Slide 17: Net interest income and fees higher on rates and activity
Net interest income and fees higher on rates and activity Net Interest Income Net fee and commission income Group, € mn Group, € mn 109 477 97 97 0 424 440 36 92 88 396 0 1 0 42 42 0 338 37 32 109 441 92 96 88 97 359 382 398 305 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 NPE Net Int
Slide 18: Slow increase in deposit beta; bond portfolio contribution picking up
Slow increase in deposit beta; bond portfolio contribution picking up Interest Income / Interest Expense breakdown1 Performing loan spreads Group, € mn Greece, % +41% +7% 3.41% 477 Individuals o/w ~10% 3.30% 445 from NPE 3.21% 3.17% Business transactions 433 pending 3.20% completion 3.12% 3.09% 3.02
Slide 19: Fees up 12% q/q; growth across all products and segments
Fees up 12% q/q; growth across all products and segments € mn € mn Group Segments 109 109 0 97 97 97 97 92 1 0 92 88 32 88 0 38 0 26 29 30 31 33 26 33 29 16 12 15 14 6 14 32 5 5 5 30 29 5 27 24 30 27 35 30 27 23 18 22 21 21 19 20 15 18 19 11 11 11 11 12 0 2 0 3 0 3 0 3 0 3 Q3 22 Q4 22 Q1 23 Q2 23 Q3
Slide 20: Recurring costs down 1% q/q
Recurring costs down 1% q/q; € mn € mn Group Segments 257 257 237 239 235 237 239 235 229 229 96 113 99 101 101 93 96 95 99 102 39 33 34 34 122 36 98 100 102 93 22 21 24 20 22 48 49 45 48 44 38 39 40 42 44 21 27 24 21 17 6 8 11 14 12 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Staff
Slide 21: Performing loans up 1% y/y driven by Wholesale and International
Performing loans up 1% y/y driven by Wholesale and International Performing loan book expansion Net credit expansion Group, € bn Greece, € bn 0.2 +1% 0.1 0.5 0.1 +0.1% +1% +1% 0.1 0.1 0.1 (1%) 0.1 Disbursements 31.8 0.1 31.4 31.4 31.1 31.5 4.3 2.2 4.0 4.1 4.2 4.2 1.9 1.9 1.6 1.7 1 7.6 7.6 7.6 7.6 7.
Slide 22: Deposits +4% y/y boosting liquidity; mix shift slower than expected
Deposits +4% y/y boosting liquidity; mix shift slower than expected Deposits evolution Mix towards Time deposits Group, € bn YoY Greece, € bn +€2.2bn QoQ 46.1 €0.5bn 45.0 45.8 44.6 44.5 1% 1% 2% State 1% 2% 51.8 0.0 0.7 0.3 52.3 Time 13% 16% 50.1 23% 25% (0.5) 6.2 20% 6.0 International 5.5 45.8 46.1
Slide 23: Retail: Uplift in profitability as deposit beta remains subdued
R E TA I L Uplift in profitability as deposit beta remains subdued Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) 9M’23 9M’22 ∆change, % Net loans 9,091 9,139 (1%) + €193mn + €1.4bn Revenues (9M/9M) Deposits (YTD) Deposits 34,027 31,891 7% Total revenues 585 393 49% + €149mn + €1.3bn Profits3
Slide 24: Wholesale: Volumes affected by repayments; Profitability expands
WHOLESALE Volumes affected by repayments; Profitability expands Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) 9M’23 9M’22 ∆change, % Net loans 18,198 18,585 (2%) + €50mn (€0.05bn) Revenues (9M/9M) Deposits (YTD) Deposits 8,605 8,441 2% Total revenues 538 487 10% + €36mn (€0.3bn)4 Profits3(9M
Slide 25: Wealth & Treasury: AuMs and Securities +€3bn each
W E A LT H & T R E A S U R Y AuMs and Securities +€3bn each; Recurring revenues replace trading Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) 9M’23 9M’22 ∆change, % Assets under 12,722 10,028 27% (€32mn) + €2.1bn Management Revenues (9M/9M) AUMs (YTD) Securities 16,195 13,097 24% Total reven
Slide 26: International: Loan growth at 7%; top line benefiting from excess liquidity
I N T E R N AT I O N A L Loan growth at 7%; top line benefiting from excess liquidity Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) 9M’23 9M’22 ∆change, % Net loans 4,337 4,061 7% + 81€mn +0.5€bn Revenues (9M/9M) Deposits (YTD) Deposits 6,243 5,502 13% Total revenues 247 166 49% + 49€mn +0.2
Slide 27: NPAs and Other operations
NPAs and Other operations Non Performing Assets (NPAs) Other (in €mm) 9M’23 9M’22 ∆change, % (in €mm) 9M’23 9M’22 ∆change, % Net loans 2,087 2,460 (15%) Assets 4,122 3,805 8% Assets 3,846 5,224 (26%) TBV 841 815 3% Total revenues 71 97 (26%) Total revenues 9 7 42% Recurring Operating Recurring Opera
Slide 28: Lower inflows, stable cures, lower NPEs, 79bp CoR, higher coverage
Lower inflows, stable cures, lower NPEs, 79bp CoR, higher coverage NPE (0.0) (0.1) (0.2) 0.0 (0.1) Cost of Risk formation bps (over net loans) Greece, € bn 93 16 75 76 79 61 14 13 13 Mainly single 20 0.1 case 71 56 55 55 35 0.30 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 0.24 0.18 0.18 0.17 Inflows Servicing fee
Slide 29: Organic capital generation at 0.5% in Q3
Organic capital generation at 0.5% in Q3; +c27bp to come from remaining performing loan securitizations Fully Loaded CET1 q/q % 0.6% 0.2% (0.1%) (0.1%) (0.1%) 0.0% 13.9% 13.7% 13.9% 0.5% Organic Capital Generation 13.4% Jun-23 Q3 23 DTA DTC RWAs AT1 Other capital Sep-23 Sep-23 post Sep-23 organic Pn
Slide 30: Ahead of regulatory requirements with capital buffers expanding
Ahead of regulatory requirements with capital buffers expanding 24.4% 22.4% 18.2% 15.1% 14.7% 13.9% 0.8% 11.9% 2.0% 24.4% 0.6% 22.4% CCyB 9.9% 1.5% 0.2% P2R 1.7% 18.2% 1.0% 15.1% O-S II 13.9% 2.5% CCB Pillar 1 4.5% 1 1 1 2023 CET1 9M 2023 CET1 2023 T1 Required 9M 2023 T1 2023 OCR 9M 2023 CAD 2024 no
Slide 31: Summary of Financial Targets
Summary of Financial Targets August guidance November guidance As per Investor Day 9M 2022 2023 2023 2025 2023 Total Revenues (€ bn) 2.0 1.7 > 2.2 c. 2.3 c.2.3 Cost-Income Ratio 55% 43% < 45% c 43% c. 40% Cost of Risk 76bps 79bps c. 80bps c. 80bps < 70bps ROTE1 7.5% 12.8% > 11% > 11.5% > 12% EPS2 (€
Slide 32: Pages
Pages • Business Update 3 • Financial Performance Analysis 14 Alpha Bank • Appendix ▪ Macroeconomic Update 32 ▪ P&L 34 ▪ Volumes 38 ▪ Asset Quality 49 ▪ Capital 54 ▪ ESG 58 ▪ Segmental Information 63 32
Slide 33: Restored confidence crucial to rebuilding investment
Restored confidence crucial to rebuilding investment Regaining investment grade on the back of growth performance GDP growth rates outperforming Euro area average (%) and fiscal consolidation A 9 S&P credit rating of the Greek Sovereign 8 Investment Grade 7 BBB- 6 5 B+ 4 3 CCC 2 1 0 SD/D 2021 2022 2
Slide 34: Pages
Pages • Business Update 3 • Financial Performance Analysis 14 Alpha Bank • Appendix ▪ Macroeconomic Update 32 ▪ P&L 34 ▪ Volumes 38 ▪ Asset Quality 49 ▪ Capital 54 ▪ ESG 58 ▪ Segmental Information 63 34
Slide 35: Loan and deposit spreads
Loan and deposit spreads Net loan balances & spreads Deposit mix & cost evolution € bn bps, € bn 275 307 220 131 17 333 % Total 320 350 52.2 313 309 50.1 50.7 50.2 51.8 301 300 9.0 10.4 13.0 14.8 15.5 30% 38.9 38.7 38.2 38.7 38.8 End of 250 41.1 40.3 37.1 37.0 36.7 70% quarter balances Q3’22 Q4’22 Q
Slide 36: Operating Expenses
Operating Expenses Group, € mn Q3 23 Q2 23 qoq % Recurring Operating Expenses evolution €mn Staff costs (98.6) (94.9) 3.9% 257 229 237 239 235 General Administrative (92.5) (102.0) (9.3%) 96 expenses 93 96 95 99 Staff costs Depreciation and General (44.4) (42.1) 5.4% amortisation Administrative 122
Slide 37: Alpha Bank Group
Alpha Bank Group qoq% yoy% (€ mn) Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 change change Net Interest Income 476.9 440.1 423.6 396.2 337.6 8.4% 41.3% Net fee and commission income 108.5 97.1 87.9 97.2 92.1 11.8% 17.8% Income from financial operations (13.8) 29.3 15.2 (1.4) 66.5 … … Other income 15.5
Slide 38: Pages
Pages • Business Update 3 • Financial Performance Analysis 14 Alpha Bank • Appendix ▪ Macroeconomic Update 32 ▪ P&L 34 ▪ Volumes 38 ▪ Asset Quality 49 ▪ Capital 54 ▪ ESG 58 ▪ Segmental Information 63 38
Slide 39: Balance sheet composition
Balance sheet composition Asset split Liabilities and Equity split € bn € bn 74.4 72.9 74.4 72.9 Cash 7.1 5.0 ECB Cash 6.6 5.0 ECB 2.8 Due to Banks Due from Banks 1.6 Due from Banks 1.5 2.4 Due to Banks Securities 16.2 14.8 Time Deposits 15.5 Time Deposits Securities 15.5 51.8 52.3 37.0 Core Deposit
Slide 40: New disbursements in Q3 2023
New disbursements in Q3 2023 Performing loans New disbursements – per category Greece, € bn Greece, € mn Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Beginning of period 24.8 25.8 26.7 27.4 27.3 26.9 27.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 21 21 21 21 22 22 22 22 23 23 23 Disbursements 2.4 1.9 2.0 2.3 1.
Slide 41: Breakdown of loans portfolio – September 2023
Breakdown of loans portfolio – September 2023 Total Group loans – per segment Group Loans portfolio structure1 € bn € bn Agriculture Consumer loans Small Business Loans 1% Administrative and 4% 5% Households support service activities Credit Cards Mortgages 30% 1% 3% 23% Construction 3% Real Estate
Slide 42: Securities portfolio breakdown
Securities portfolio breakdown Securities portfolio breakdown Group, Book value, Sep-23, € bn ▪ The “Other/ECB eligible” bonds of €8bn is broken down to the following T-bills Mutual Funds & Equities categories: 0.9 0.6 o/w 13.4bn • €4.5bn other sovereign bonds HQLAs • €0.6bn bonds issued by supranat
Slide 43: Securities portfolio evolution
Securities portfolio evolution Portfolios evolution 9M 2023 New investments Group, Book value € bn Group % of total 12% 10% 11% 14% 14% 14% 14% 16% 16% 17% 20% 21% 21% assets €15.6bn €15.0bn Other €14.3bn 13% Mod. Duration €12.8bn €13.1bn €12.1bn c.3Y €10.4bn €10.6bn 44% GGBs/T-Bills HQLAs €9.9bn €8
Slide 44: Deposits flow per quarter
Deposits flow per quarter Alpha Bank deposits evolution in Greece Deposits breakdown – September 2023 Greece, € bn Q4: Q1: Q2: Q3: €0.4bn (€0.5bn) €1.4bn €0.2bn Time 1.1 45.0 1.5 45.8 0.5 46.1 26% 44.6 2.5 44.5 (0.1) (0.3) (0.7) (3.1) Δ Core Δ Time 74% Core Sep-22 Core Time Dec-22 Core Time Mar-23 C
Slide 45: ECB Balances and Liquidity metrics
ECB Balances and Liquidity metrics ECB balances Group LCR & LDR Group, € bn % % over 17% 17% 12% 7% 7% 191% Total 183% Assets 161% 161% 163% 13.0 13.0 ECB Collateral pledged ▪ Credit claims LCR ▪ GGBs & T-bills LDR ▪ Other bonds 9.0 78% 76% 76% 75% 74% 13.5 TLTRO 13.1 5.0 5.0 12.0 12.0 Commercial 1
Slide 46: Wealth management
Wealth management Asset Management balances Private Banking Group, € bn Group, € bn 12.7 12.7 11.7 7.1 7.2 6.7 10.6 6.4 6.5 10.0 4.7 4.8 2.0 1.9 4.4 1.9 4.0 2.1 3.9 2.4 2.2 1.8 1.8 2.5 1.7 2.1 1.9 1.7 1.5 1.7 1.3 1.4 1.6 1.0 4.9 4.7 0.7 4.0 4.0 4.4 1.6 1.7 1.9 2.0 1.9 0.6 0.7 0.7 0.8 0.8 Sep-22 Dec-
Slide 47: Business Volumes
Business Volumes (€ mn) Sep 2023 Jun 2023 Mar 2023 Dec 2022 Sep 2022 % YoY Group Gross Loans 39,883 39,787 39,327 39,922 40,055 (0.4%) Mortgages 9,132 9,198 9,285 9,356 9,378 (2.6%) Consumer Loans 1,514 1,553 1,564 1,617 1,646 (8.0%) Credit Cards 1,029 1,015 1,004 1,048 1,009 2.0% Small Business Loa
Slide 48: Digital acceleration to build on a good transactional starting base
Digital acceleration to build on a good transactional starting base Digital KPIs Active Users (in m.)1 1 Acquisition +4.8% 1.46 1.47 1.52 1.57 1.58 1.61 1.63 1.64 1.33 1.36 1.41 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 2 Usage 96% 52% 67% Transaction Individual Client Busine
Slide 49: Pages
Pages • Business Update 3 • Financial Performance Analysis 14 Alpha Bank • Appendix ▪ Macroeconomic Update 32 ▪ P&L 34 ▪ Volumes 38 ▪ Asset Quality 49 ▪ Capital 54 ▪ ESG 58 ▪ Segmental Information 63 49
Slide 50: Gross organic NPE formation in Greece per segment
Gross organic NPE formation in Greece per segment Gross formation (Organic) - Wholesale Gross formation (Organic) - Retail Greece, € mn Greece, € mn 97 334 80 1 17 70 24 (30) (39) (22) (52) (70) (84) (186) (192) (155) (284) (254) (461) (994) 2018 2019 2020 2021 2022 Q3 Q4 Q1 Q2 Q3 2018 2019 2020 202
Slide 51: Auctions and repossession activity evolution
Auctions and repossession activity evolution Auctioned properties (Conducted) per quarter ▪ During 9m 2023, the Bank continued with its disinvestment strategy 3.871 through the completion of €35mn REO sales in Greece and €138mn in Cyprus (including Project Sky). Sales in Greece included both commerc
Slide 52: Asset quality by portfolio - Greece
Detailed overview of Alpha Bank’s asset quality by portfolio - Greece (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 23.9 2.1 7.1 2.2 35.4 (-) Accumulated Provisions (0.3) (0.2) (0.3) (0.2) (1.0) Net loans 23.7 1.9 6.8 2.0 34.3 NPLs 0.2 0.4 0.5 0.2 1.3 NPL ratio 0.8% 16.7% 7.6% 9.4% 3.7%
Slide 53: Asset quality by portfolio - Group
Detailed overview of Alpha Bank’s asset quality by portfolio - Group (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 26.0 2.2 9.1 2.5 39.9 (-) Accumulated Provisions (0.3) (0.2) (0.4) (0.2) (1.2) Net loans 25.7 1.9 8.8 2.3 38.7 NPLs 0.2 0.4 0.6 0.2 1.4 NPL ratio 0.8% 16.7% 6.8% 9.4% 3.6% N
Slide 54: Pages
Pages • Business Update 3 • Financial Performance Analysis 14 Alpha Bank • Appendix ▪ Macroeconomic Update 32 ▪ P&L 34 ▪ Volumes 38 ▪ Asset Quality 49 ▪ Capital 54 ▪ ESG 58 ▪ Segmental Information 63 54
Slide 55: Fully loaded Regulatory Capital
Fully loaded Regulatory Capital Equity to fully loaded regulatory capital bridge € mn 9.0% Tangible book value / Tangible Assets 6,739 6,240 (499) 1,000 5,894 400 4,894 17 4,494 (1,763) Ordinary Equity Intangibles Tangible DTA deduction Other CET1 AT1 & Hybrids Tier 1 Lower Tier II Total CAD Book Va
Slide 56: Group RWAs and Regulatory Capital
Group RWAs and Regulatory Capital Group Risk Weighted Assets – Fully Loaded Credit Risk Weights per portfolio € bn % €0.35bn 32.5 0.4 0.0 32.8 100% 0.4 3.1 0.0 0.3 3.1 51% 54% 29.0 29.3 Performing Net NPE Total Loan Portfolio Jun-23 Credit Market Operational Sep-23 RWA Density Credit Market Operatio
Slide 57: Further progress towards meeting MREL Requirements
Further progress towards meeting MREL Requirements 27.18% ▪ Further progress towards final MREL targets in a sustainable fashion €0.9 bn vs. 3.58% 24.4% 2026 MREL Target ▪ No subordinated MREL requirement 22.39% 2% surplus to non- ▪ Expect Alpha Bank to continue to be a regular issuer in the debt ca
Slide 58: Pages
Pages • Business Update 3 • Financial Performance Analysis 14 Alpha Bank • Appendix ▪ Macroeconomic Update 32 ▪ P&L 34 ▪ Volumes 38 ▪ Asset Quality 49 ▪ Capital 54 ▪ ESG 58 ▪ Segmental Information 63 58
Slide 59: We continue to align our strategy with the expectations of our stakeholders
We continue to align our strategy with the expectations of our stakeholders… Stakeholders Goals Initiatives SDG alignment Investors Alignment of financial • Define strategy focused on using sustainable lending to secure ROE and define Science Based impacts with Paris Targets Agreement • Develop Gree
Slide 60: Reaching a pivotal point in our Sustainability journey
…reaching a pivotal point in our Sustainability journey… 2019 – 2022 2023 2024 2025 Set the foundations for our Fully embed sustainability Scale up sustainable finance to sustainability strategy targets into our Business Plan achieve full potential 2019 UNEP FI signatory and adoption of 2023 First G
Slide 61: Underpinned by our achievements during 2023
…underpinned by our achievements during 2023… Support an environmentally Foster healthy economies and Ensure robust & transparent sustainable Economy Societal progress Governance P > 300 62% 45% 38.5% P Disbursements to new green Corporate and SME clients Women employees at Group Women in managerial
Slide 62: Our efforts are already reflected in our ratings. Memberships
…and our efforts are already reflected in our ratings. Memberships Alpha Services & Holdings has achieved Prime Status in May 2023 following dedicated engagement with ISS. Performance Score improved to 50.83 from 35.79, resulting in ISS Corporate ESG Rating “C”. Improvement to focus on the sustainab
Slide 63: Pages
Pages • Business Update 3 • Financial Performance Analysis 14 Alpha Bank • Appendix ▪ Macroeconomic Update 32 ▪ P&L 34 ▪ Volumes 38 ▪ Asset Quality 49 ▪ Capital 54 ▪ ESG 58 ▪ Segmental Information 63 63
Slide 64: Summary segments
Summary segments Non Performing Greece International Assets Other Wealth Management Retail Wholesale & Treasury 9M 2023 9M 2022 9M 2023 9M 2022 9M 2023 9M 2022 9M 2023 9M 2022 9M 2023 9M 2022 9M 2023 9M 2022 Net interest income 472 288 437 370 182 60 194 121 52 88 3 (8) Net commission income 100 97
Slide 65: Greece
Greece € mn Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net interest income 263 321 340 360 392 Net commission income 79 83 74 83 94 Total revenue 422 423 430 461 479 Recurring operating expenses (158) (175) (153) (159) (158) One-off costs 1 (3) 0 (5) 0 Provisions (30) (14) (16) (36) (13) Profit After T
Slide 66: Retail
Retail € mn Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net interest income 105 141 147 152 173 Net commission income 33 31 29 33 38 Total revenue 142 178 182 189 215 Recurring operating expenses (102) (113) (99) (101) (101) One-off costs 1 (2) 0 (3) 0 Provisions (23) (13) (11) (22) (10) Profit After Ta
Slide 67: Wholesale
Wholesale € mn Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net interest income 131 147 142 147 148 Net commission income 27 30 24 29 32 Total revenue 163 180 169 187 182 Recurring operating expenses (36) (39) (33) (34) (34) One-off costs 0 (0) 0 (3) 0 Provisions (6) 0 2 (11) (15) Profit After Tax 84 100
Slide 68: Wealth management & Treasury
Wealth management & Treasury € mn Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net interest income 27 34 50 61 71 Net commission income 18 22 21 21 23 Total revenue 116 64 79 85 82 Recurring operating expenses (20) (22) (21) (24) (22) One-off costs 0 (0) 0 0 0 Provisions (1) (1) (7) (3) 13 Profit After T
Slide 69: International
International € mn Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net interest income 44 53 60 65 69 Net commission income 11 11 11 11 12 Total revenue 58 71 76 84 86 Recurring operating expenses (44) (48) (49) (45) (48) One-off costs 0 0 0 0 0 Provisions 7 (10) 2 (2) (7) Profit After Tax 24 17 27 33 29 No
Slide 70: International – Romania
International – Romania € mn Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net interest income 30 32 34 35 36 Net commission income 7 7 6 7 7 Total revenue 38 41 43 46 46 Recurring operating expenses (27) (32) (33) (30) (30) One-off costs 0 0 0 0 0 Provisions 8 (7) 2 (2) (4) Profit After Tax 15 2 11 12 11
Slide 71: International – Cyprus
International – Cyprus € mn Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net interest income 9 15 19 24 27 Net commission income 4 4 4 4 4 Total revenue 15 24 27 32 33 Recurring operating expenses (13) (11) (13) (13) (13) One-off costs 0 0 0 0 0 Provisions (1) (3) 0 (1) (3) Profit After Tax 1 10 15 18 17
Slide 72: Non Performing Assets
Non Performing Assets € mn Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net interest income 30 21 22 16 13 Net commission income 2 3 3 3 3 Total revenue 34 20 26 26 19 Recurring operating expenses (21) (27) (24) (21) (17) One-off costs 0 (0) 0 0 0 Provisions (38) (66) (65) (38) (42) Profit After Tax (97)
Slide 73: Other
Other € mn Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Net interest income 1 1 2 (1) 2 Net commission income (0) 0 0 0 0 Total revenue (3) (4) 0 7 2 Recurring operating expenses (6) (8) (11) (14) (12) One-off costs 0 0 0 0 0 Provisions (0) (0) 0 (0) (1) Profit After Tax (19) (24) (9) (6) (20) Normalised
Slide 74: Glossary (1/4)
Glossary (1/4) Reference Terms Definitions Relevance of the metric Abbreviation number Accumulated Provisions and Sum of Provision for impairment losses for loans and advances to customers, the Provision for impairment losses for the total amount of off balance Standard banking 1 LLR FV adjustments
Slide 75: Glossary (2/4)
Glossary (2/4) Reference Terms Definitions Relevance of the metric Abbreviation number Sum of Impairment losses of fixed assets and equity investments ,Gains/(Losses) on disposal of fixed assets and equity investments and Impairments & Gains/(Losses) on Impairment losses, provisions to cover credit
Slide 76: Glossary (3/4)
Glossary (3/4) Reference Terms Definitions Relevance of the metric Abbreviation number 34 Non Performing Loans Non Performing Loans (34) are Gross loans (12) that are more than 90 days past-due. Asset quality metric NPLs Normalised profits between financial year 2022 and 2021 are not comparable due
Slide 77: Glossary (4/4)
Glossary (4/4) Reference Terms Definitions Relevance of the metric Abbreviation number Profit/ (Loss) after income tax 43 Profit/ (Loss) before income tax (42) for the period less Income tax (20) for the period Profitability metric from continuing operations The figure equals Net profit/(loss) for t
Slide 78: Alpha Bank Contacts
Alpha Bank Contacts Lazaros Papagaryfallou General Manager – CFO +30 210 326 2261 cfo-office@alpha.gr Iason Kepaptsoglou Stella Traka Selini Milioni Head Manager Senior Investor Relations Division Investor Relations Division Investor Relations Officer +30 210 326 2271 +30 210 326 2274 +30 210 326 22