Alpha Bank S.a. · ATHEX:ALPHA

Alpha Bank — H1 2021 Earnings Presentation

66 slides from Alpha Bank's earnings presentation, Aug 26, 2021

  1. Slide 1: Alpha Bank H1 2021 Results

    Alpha Bank H1 2021 Results Investor Presentation August 26th, 2021

  2. 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

  3. Slide 3: Pages

    Pages • Business update 3 Alpha Bank • Financial Performance Analysis 9 • Appendix  Macroeconomic Update 20  P&L 24  Volumes 29  Asset Quality 37  Capital 43  ESG 52  Segment information 54 3

  4. Slide 4: Greek economy outperforming expectations

    Greek economy outperforming expectations Key recent macroeconomic highlights Latest Comments GDP growth (%, y-o-y) -2.3% >5%  >5% growth projected for 2021; activity expected to bounce back from Q2 (1Q21) (2021f) Total Passenger Traffic 371.2% 107.5%  Arrivals exceeding expectations: first week of

  5. Slide 5: 85% (€7bn) of NPE transactions leading to 13% NPE ratio by year end

    85% (€7bn) of NPE transactions leading to 13% NPE ratio by year end Cosmos Orbit Sky Solar Other transactions NPE GBV €3.5bn €1.3bn €2.2bn €0.4bn €0.7bn Greek NPE Greek NPE Greek NPE Cyprus NPE Selected Wholesale & Description securitization common SME portfolio sale portfolio sale Leasing exposures

  6. Slide 6: Partnership with Nexi offers significant benefits based on terms and structure

    Partnership with Nexi offers significant benefits based on terms and structure Key transaction terms (on 100% basis) Project Prometheus Value Item Amounts (in € mn) Comments Strategic partnership in merchant acquiring business Strategic partnership Nexi to acquire 51% | Alpha Bank to retain 49% 1 ap

  7. Slide 7: Internal measures on track to deliver envisaged capital relief

    Internal measures on track to deliver envisaged capital relief Skyline Description • Creation of a unique large-scale real estate investment platform in Greece • Use of Alpha Astika Akinita (listed subsidiary) as vehicle for the transaction JV with international • Focus on CRE across Office, Retail

  8. Slide 8: Sound and profitable

    Normalised Profit after Tax at €0.21bn for H1 2021 2020 H1 2021 2021E Targets 2024E • Loss of interest income from Galaxy partially NII € 1.5bn € 0.8bn ~€ 1.4bn offset by TLTRO benefit and new disbursements ~10% Sound and profitable • Expansion driven by loan growth, partnerships, Net F&C inc. € 0.3

  9. Slide 9: Pages

    Pages • Business update 3 Alpha Bank • Financial Performance Analysis 9 • Appendix  Macroeconomic Update 20  P&L 24  Volumes 29  Asset Quality 37  Capital 43  ESG 52  Segment information 54 9

  10. Slide 10: H1 2021 Group P&L and Balance Sheet

    H1 2021 Group P&L and Balance Sheet Normalised Profit After Tax4 €0.32bn Profit & Loss H1 H1 yoy % Q2 Q1 qoq % €0.10bn €0.21bn (€ mn) 20211 2020 change 20211 2021 change €0.11bn Net Interest Income 771 772 (0%) 371 400 (7%) Net fee and commission Income 190 167 14% 105 84 25% Q1 21 Q2 21 H1 21 FY21e

  11. Slide 11: Positive signs of growth in disbursements; lending spreads remain healthy

    Positive signs of growth in disbursements; lending spreads remain at healthy levels, also supported by new production Spread of new H1 21 New disbursements PE Lending spreads over Gross loans production1at 413bps in Q2 21 Greece, € bn Greece, bps 1.2 2.3 Businesses 0.1 0.2 386 389 389 383 381 high-y

  12. Slide 12: Mix shift towards core deposits continues; €1.4bn of inflows in Greece

    Mix shift towards core deposits continues; €1.4bn of inflows in Greece Deposits evolution Mix towards Core deposits Group, € bn YoY Greece, € bn +€4.1bn QoQ + €1.4bn 37.9 39.3 1.0 45.0 35.0 2% 2% 43.6 0.4 40.9 State 2% 20% 5.7 0.0 5.7 23% Abroad 5.9 Term 32% Customer deposit 37.9 39.3 inflows of €1.

  13. Slide 13: Net interest income remains under pressure from clean-up effort

    Net interest income remains under pressure from clean-up effort Q2 2021 / Q1 2021 Comments Q1 21 400 Reported Retrospective 2020 TLTRO (24.7) • Q1 TLTRO benefit: €24.7mn benefit related to H2 20 benefit booked in Q1 Q1 21 375 PEs (0.4) • PEs: Lower spreads on specific corporate repayments NPEs (9.4)

  14. Slide 14: Pick-up in activity and impact from partnerships drives fee growth

    Pick-up in activity and impact from partnerships drives fee growth QoQ YoY +€21mn (+25%) +€23mn (+14%) Comments Q1 2021 H1 20 84 167 NCI NCI Business credit related 1.0 5.6 • Business credit related: Increased loan fees on pick-up of activity • Asset management: Mainly non-money market mutual fund f

  15. Slide 15: Benefits from staff and NPE reduction to offset near term cost pressure

    Benefits from staff and NPE reduction to offset near term cost pressure YoY NPA Management -60% Group Recurring, € mn (-103) H1 20 173 Recurring 512 1 pf for Cepal 85 70 Staff costs (9.1) • Staff costs: down on HR initiatives in Greece and H1 21 2021E 2024E Cyprus BP Target BP Target Core Operations

  16. Slide 16: Organic formation and underlying CoR remain better than FY guidance

    Organic formation and underlying CoR remain better than FY guidance NPE organic formation CoR driven by Transaction costs and COVID Greece, € bn % over net loans 2021E Covid Related 5.8% Transaction costs Gross NPE (0.0) 0.0 (0.1) (0.0) (0.0) 0.6 Underlying 3.2% 4.0% formation € bn 2.6% 0.4 0.4 1.7

  17. Slide 17: NPE ratio down to 13% by end of 2021, outperforming BP target of 18%

    NPE ratio down to 13% by end of 2021, outperforming BP target of 18% NPE ratio (Group)¹ 43% 26% ~13% ~2%  Significant NPL ratio (Group)¹ 30% 17% ~8% ~2% improvement in the actual NPE ratio delivered Group NPEs, €bn  Higher NPE cash 20.9 coverage which increased by ~10pps yoy Group, NPE coverage (%

  18. Slide 18: Capital evolution in line with plan; exceeding regulatory expectations

    Capital evolution in line with plan; exceeding regulatory expectations €1.3bn Total Capital ratio quarterly evolution regulatory € bn Buffer over 8.1 6.7 14.0%1 CAD CAD 18.3% 0.02% 1.4% 2.20% 17.4% 2.3% 2.6% (1.0%) (2.85%) (0.23%) 16.0% CET1 Expected completion by H1 2022 14.8% Total Capital ratio O

  19. Slide 19: Solid capital position confirmed by 2021 stress test results

    Solid capital position confirmed by 2021 stress test results Resilient Capital Levels Improved capital depletion Adverse scenario, ex-IFRS9 Starting Baseline Adverse 31.12.20 31.12.23 31.12.23 8.6pps CET1 FL (%) 14.6% 17.3% 8.3% 7.5pps 6.3pps CET1 FL (%) pf SCI 19.1% 10.2% 2015 2018 2021 STs STs STs

  20. Slide 20: Appendix: Macroeconomic Update

    Pages • Business update 3 Alpha Bank • Financial Performance Analysis 9 • Appendix  Macroeconomic Update 20  P&L 24  Volumes 29  Asset Quality 37  Capital 43  ESG 52  Segment information 54 20

  21. Slide 21: Growth expectations revised upwards despite uncertainty related to Delta variant

    Growth expectations revised upwards despite the uncertainty related to «Delta» variant Real GDP is expected to return to positive growth rates …supported by the strong fiscal impetus engineered by from Q2 onwards, following a weaker than expected the Greek government… recession in Q1 2021… 4% 220% 1

  22. Slide 22: Leading economic indicators pave the way for a strong economic recovery

    The upward trend of several leading economic indicators paves the way for a strong economic recovery from Q2 onwards Savings ratio continued its upward trend amid gains in Retail trade on an upward trajectory with additional private households’ gross disposable income sector deposits inflowing into

  23. Slide 23: Business confidence on an expansionary phase; housing market resilient

    Business confidence on an expansionary phase; housing market and construction activity remained resilient during the pandemic Business confidence recorded the highest performance House prices growth dynamics remained resilient, despite since the beginning of the pandemic the heavy toll of the pandem

  24. Slide 24: Appendix: P&L

    Pages • Business update 3 Alpha Bank • Financial Performance Analysis 9 • Appendix  Macroeconomic Update 20  P&L 24  Volumes 29  Asset Quality 37  Capital 43  ESG 52  Segment information 54 24

  25. Slide 25: Loan and deposit spreads

    Loan and deposit spreads Net loan balances & spreads Deposit mix & cost evolution € bn € bn, bps 396 393 397 397 391 (47) (49) (51) (52) (51) % Total 39.8 40.9 41.7 43.8 43.6 45.0 39.4 39.4 39.4 End of 14.4 13.7 12.3 11.2 25% 37.5 15.0 quarter 25.8 27.3 30.1 31.3 33.9 75% balances Q2 20 Q3 20 Q4 20

  26. Slide 26: NII and Net Fee and Commission income decomposition

    NII and Net Fee and Commission income decomposition NII decomposition Net Fee and Commission income decomposition € mn € mn 391 400 105 382 388 29 371 52 38 40 26 25 85 84 84 77 23 24 24 15 20 9 15 385 8 12 13 375 4 393 391 397 6 5 5 34 26 34 28 28 42 26 18 14 16 15 17 5 6 (49) (52) (55) (56) (56) Q

  27. Slide 27: Operating Expenses

    Operating Expenses € mn H1 20 H1 21 yoy % Recurring OPEX evolution €mn Staff costs (213.4) (211.9) (0.7%) Depreciation & General Administrative 275 amortisation (211.2) (226.8) 7.4% 252 264 258 261 expenses 39 38 39 37 43 General Depreciation and (75.9) (80.6) 6.2% administrative amortisation 118 12

  28. Slide 28: Alpha Bank Group

    Alpha Bank Group qoq% yoy % (€ mn) Q2 20211 Q1 2021 Q4 2020 Q3 2020 Q2 2020 change change Net interest income 371.0 399.6 388.0 381.8 390.7 (7.2%) (5.0%) Net fee and commission income 105.4 84.3 83.8 84.8 77.5 25.1% 36.1% Income from financial operations1 30.4 60.9 429.7 42.5 134.2 (50.2%) (77.4%) O

  29. Slide 29: Appendix: Volumes

    Pages • Business update 3 Alpha Bank • Financial Performance Analysis 9 • Appendix  Macroeconomic Update 20  P&L 24  Volumes 29  Asset Quality 37  Capital 43  ESG 52  Segment information 54 29

  30. Slide 30: Balance sheet composition

    Balance sheet composition Asset split Liabilities and Equity split € bn 71.2 70.5 € bn 71.2 70.5 Cash 8.0 Cash 9.4 12.9 12.9 ECB ECB Due from Banks 3.8 Due from Banks 3.3 1.6 Due to Banks 1.4 Due to Banks Securities Securities excl. ECB excl. ECB 10.0 10.4 12.3 11.2 Time Time deposits deposits 43.6

  31. Slide 31: Deposits flow per quarter

    Deposits flow per quarter Alpha Bank deposits evolution in Greece Deposits breakdown – June 2021 € bn Q3: Q4: Q1: Q2: €0.8bn €2.2bn (€0.1bn) €1.4bn Time 38.0 1.2 37.9 2.4 39.3 21% 35.0 35.8 2.8 1.3 Δ Time (1.0) (0.5) (0.6) (1.3) Δ Core Core 79% Jun-20 Core Time Sep-20 Core Time Dec-20 Core Time Mar-

  32. Slide 32: Securities portfolio breakdown

    Securities portfolio breakdown Securities portfolio breakdown Book value, Jun-21, € bn ▪ The “Other/ECB eligible” bonds of €4.2bn is broken down to the following T-bills Mutual Funds & Equities categories: 0.8 0.2 • €2.2bn other sovereign bonds • €0.3bn bonds issued by supranationals Other/ECB eligi

  33. Slide 33: Business Volumes

    Business Volumes (€ mn) Jun 2021 Mar 2021 Dec 2020 Sep 2020 Jun 2020 % YoY Group Gross Loans 43,533 49,785 49,130 49,148 48,756 (10.7%) Mortgages 12,679 16,929 17,008 17,073 17,181 (26.2%) Consumer Loans 3,254 4,131 4,187 4,208 4,207 (22.7%) Credit Cards 1,162 1,170 1,257 1,309 1,297 (10.4%) Small B

  34. Slide 34: Breakdown of loans portfolio – June 2021

    Breakdown of loans portfolio – June 2021 Total Group loans – per segment Group Loans portfolio structure € bn € bn Households Media & Consumer loans SBLs 7% 39% Communication 7% 1% Mortgages Credit Cards Agriculture 29% 3% 1% Energy Trade €43.5bn 2% €43.5bn 11% Real Estate 4% Manufacturing Construct

  35. Slide 35: New disbursements of €1.2bn in Q2 2021

    New disbursements of €1.2bn in Q2 2021 New disbursements – per category Q2 2021 Business disbursements – per sector € mn Q1 20 Q2 20 H1 20 Q1 21 Q2 21 H1 21 Agriculture 64 84 149 60 122 183 2% Real Estate Individuals Entertainment 4% 1% Other Business 1,575 938 2,512 1,055 1,049 2,104 Trade 5% 21% T

  36. Slide 36: Wealth management evolution

    Wealth management evolution Alpha Private Bank balances Asset Management balances € mn € mn +14% +40% 2.8 0.0 4.8 4.9 2.4 4.6 2.2 0.0 4.3 4.3 1.2 2.0 2.0 0.0 1.2 1.1 0.1 0.1 1.0 1.0 2.0 1.7 1.5 1.3 1.3 2.9 3.0 2.8 2.8 2.9 0.6 0.6 0.7 0.7 0.7 0.5 0.5 0.6 0.7 0.7 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Jun

  37. Slide 37: Appendix: Asset Quality

    Pages • Business update 3 Alpha Bank • Financial Performance Analysis 9 • Appendix  Macroeconomic Update 20  P&L 24  Volumes 29  Asset Quality 37  Capital 43  ESG 52  Segment information 54 37

  38. Slide 38: Gross organic NPE formation in Greece per segment

    Gross organic NPE formation in Greece per segment Gross formation (Organic) - Wholesale Gross formation (Organic) - Retail € mn € mn 80 50 35 3 72 34 (7) (124) (94) (63) (80) (186) (192) (617) (461) (994) 2018 2019 2020 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 2018 2019 2020 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Gross

  39. Slide 39: Auctions and repossession activity evolution

    Auctions and repossession activity evolution Auctioned properties (Conducted) per quarter 1.782 No conducted No conducted 789 auctions auctions 775 due to Covid- due to Covid- 525 19 558 19 412 374 40% 146 42% 41% 0 0 40% 31% 36% 34% 37% 0% 0% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020

  40. Slide 40: Detailed overview of asset quality by portfolio - Greece

    Detailed overview of Alpha Bank’s asset quality by portfolio - Greece (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 20.4 3.1 9.6 3.9 37.0 (-) Accumulated Provisions (1.4) (0.7) (0.8) (1.4) (4.4) Net loans 19.1 2.3 8.7 2.5 32.6 NPLs 1.2 1.0 1.5 1.6 5.2 1 NPL ratio 5.7% 31.2% 15.3% 41.3% 1

  41. Slide 41: Detailed overview of asset quality by portfolio - Group

    Detailed overview of Alpha Bank’s asset quality by portfolio - Group (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 23.3 3.1 12.7 4.4 43.5 (-) Accumulated Provisions (2.1) (0.8) (1.7) (1.5) (6.1) Net loans 21.2 2.4 11.0 2.9 37.5 NPLs 1.9 1.0 2.6 1.8 7.3 1 NPL ratio 8.2% 31.8% 20.4% 40.2%

  42. Slide 42: Excellent track record in off-loading problematic NPEs

    Excellent track record in off-loading the most problematic part of the NPEs Size Completion Transaction details “Project Galaxy” €10.8bn Q2 2021  Portfolio comprised of Business Loans, Mortgages and other Retail loans “Project Neptune” c. €1.1bn Q3 2020  SMEs loan portfolio secured with real estat

  43. Slide 43: Appendix: Capital

    Pages • Business update 3 Alpha Bank • Financial Performance Analysis 9 • Appendix  Macroeconomic Update 20  P&L 24  Volumes 29  Asset Quality 37  Capital 43  ESG 52  Segment information 54 43

  44. Slide 44: Regulatory Capital and Capital Requirements

    Regulatory Capital and Capital Requirements Equity to regulatory capital bridge Overall Capital Requirements € mn % 14.0% 7.9% Tangible book value / Tangible Assets 0.5% O-S II 2.5% 11.0% Composed by CCB Composed CET 1 (1.7%) 3.0% entirely by 3.0% AT1 (0.55%) 5,987 5,892 P2R CET 1 Tier 2 (0.75%) 5,5

  45. Slide 45: Group RWAs and Regulatory Capital

    Group RWAs and Regulatory Capital Group Risk Weighted Assets Credit Risk Weights per portfolio € bn % (€6.2bn) 44.3 3.2 0.1 38.1 103% 1.5 (6.1) (0.0) 3.2 58% 66% 1.4 39.6 33.5 Performing Net NPE Total Loan Portfolio Mar-21 Credit Market Operational Jun-21 RWA Density Credit Market Operational Transi

  46. Slide 46: Capital position meeting regulatory expectations and management targets

    Capital position meeting regulatory expectations and management targets Regulatory capital evolution Regulatory capital evolution Total Capital and CET1 ratios, (% transitional) Total Capital and CET1 ratios, Fully loaded CET1 ratio CET1 ratio 18.3% 18.3% 2023-24E 2024E 2021-22E 16.7% 16.9% 17.0% re

  47. Slide 47: MREL strategy and issuance plan

    MREL strategy and issuance plan Interim MREL target Distance to interim (incl. CBR) MREL target  MREL target was communicated in April 2021 and is in line with Group’s expectations 22.76% of RWAs1. 0.90% 17.27%  MREL target CBR 3.25% (incl. CBR)  Extended transitional period until 1 January 2026

  48. Slide 48: Alpha Bank successfully concluded the 2021 EU-wise stress test

    Alpha Bank successfully concluded the 2021 EU-wise stress test Stress Test results performed by ECB 31/12/2020 31/12/2020 – 31/12/2023 31/12/2023 31/12/2023 ▪ Alpha Bank successfully concluded the 2021 EU- Starting point IFRS 9 impact Baseline Adverse wide Stress Test. Under the baseline scenario, t

  49. Slide 49: EU-wide stress tests results overview

    EU-wide stress tests results overview Historical stress test CET1 FL(1) 2021 stress test CET1 FL(1) Adverse Scenario, % Alpha Bank Greek Peers Average Adverse scenario, % 9.7% 8.3% 7.6% 8.1% 8.3% 6.5% 6.4% 6.5% 6.8% 2.1% -0.8% -0.4% Alpha Bank Peer 1 Peer 2 Peer 3 2014 2015 2018 2021 ▪ Alpha Bank ha

  50. Slide 50: Corporate structure: minimal differences with figures expected to converge

    Corporate structure: minimal differences with figures expected to converge Alpha Alpha Alpha Alpha Balance Sheet1 Capital1 Services and Holdings Bank Comments on current delta Services and Holdings Bank (€ bn) (%) Group Group Group Group2 Cash 10.1 10.1 CET1 ratio 14.8% 13.7% Due from banks 3.3 3.3

  51. Slide 51: Company structure and resolution strategy

    Company structure and resolution strategy New organisational structure(1) Holding Capital Alpha Services and Issuer of own funds Holdings S.A. (2) (CET1, AT1 and T2) (“Former” Alpha Bank S.A.) 100% Operating entity MREL / Funding Issuer of funding and “New” Alpha Bank S.A. MREL instruments ▪ On Apri

  52. Slide 52: Appendix: ESG

    Pages • Business update 3 Alpha Bank • Financial Performance Analysis 9 • Appendix  Macroeconomic Update 20  P&L 24  Volumes 29  Asset Quality 37  Capital 43  ESG 52  Segment information 54 52

  53. Slide 53: Alpha Bank's sustainability journey

    Alpha Bank's sustainability journey ECB GUIDE on climate related Alpha Bank, signed (August 2019) the six and Environmental Risks Alpha Bank significantly Principles for Responsible Banking (PRB) and Self assessment of the Bank’s practices against the contributes to 9 SDGs set targets for the implem

  54. Slide 54: Appendix: Segment information

    Pages • Business update 3 Alpha Bank • Financial Performance Analysis 9 • Appendix  Macroeconomic Update 20  P&L 24  Volumes 29  Asset Quality 37  Capital 43  ESG 52  Segment information 54 54

  55. Slide 55: SEE Operations

    SEE Operations 1 € mn Δ% Δ% Δ% Δ% Jun-21 Romania yoy Cyprus yoy Albania yoy Total SEE yoy Deposits 2,548 (1.6%) 2,102 (4.5%) 520 4.2% 5,170 (2.3%) Gross Loans 2,655 0.0% 3,165 (7.9%) 292 5.0% 6,112 (4.1%) Mortgages 1,286 7.8% 1,720 (6.8%) 82 13.8% 3,088 (0.7%) Consumer Credit 240 5.4% 218 (7.3%) 42

  56. Slide 56: Group Results by Business Unit

    Group Results by Business Unit Investment Asset Commercial & Retail SE Europe Banking & Other Group Corporate Management (€ mn) Treasury Jan-Jun Jan-Jun Jan-Jun Jan-Jun Jan-Jun Jan-Jun Jan-Jun 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Operating Income 370.4 385.9 282.1 31

  57. Slide 57: Results: Retail Business Unit

    Results: Retail Business Unit (€ mn) Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Operating Income 186.2 184.2 240.9 195.9 198.1 Net Interest Income 136.9 149.5 163.6 159.0 164.8 Net fee and Commission Income 43.2 28.0 27.8 31.5 27.3 Trading & Other 6.0 6.7 49.6 5.4 6.0 Operating Expenses (145.0) (144.2)

  58. Slide 58: Results: Commercial & Corporate Business Unit

    Results: Commercial & Corporate Business Unit (€ mn) Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Operating Income 146.4 135.8 156.8 149.4 158.4 Net Interest Income 126.9 130.1 131.7 127.4 133.5 Net fee and Commission Income 25.6 25.9 27.6 28.0 24.1 Trading & Other (6.1) (20.2) (2.5) (6.0) 0.8 Operating

  59. Slide 59: Results: Asset Management Business Unit

    Results: Asset Management Business Unit (€ mn) Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Operating Income 23.9 22.9 25.0 11.9 14.0 Net Interest Income 3.4 2.5 3.5 3.7 4.1 Net fee and Commission Income 17.6 16.2 14.8 12.0 10.2 Trading & Other 2.9 4.3 6.7 (3.8) (0.2) Operating Expenses (9.0) (9.7) (10.8

  60. Slide 60: Results: Investment Banking & Treasury Business Unit

    Results: Investment Banking & Treasury Business Unit (€ mn) Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Operating Income 90.3 155.0 406.4 77.8 174.1 Net Interest Income 57.6 71.6 38.6 40.9 38.9 Net fee and Commission Income 8.7 5.6 5.1 4.6 7.9 Trading & Other 24.0 77.8 362.6 32.3 127.3 Operating Expense

  61. Slide 61: Results: SE Europe Business Unit

    Results: SE Europe Business Unit (€ mn) Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Operating Income 56.7 58.6 64.2 63.9 61.8 Net Interest Income 45.3 46.0 50.1 50.3 49.3 Net fee and Commission Income 10.3 8.7 8.5 8.8 8.0 Trading & Other 1.1 4.0 5.6 4.8 4.6 Operating Expenses (49.6) (54.8) (90.7) (52.7)

  62. Slide 62: Results: Other Business Unit

    Results: Other Business Unit (€ mn) Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Operating Income (2,113.8) (0.6) 13.2 17.2 (1.6) Net Interest Income 0.9 (0.1) 0.5 0.3 0.2 Net fee and Commission Income (0.0) (0.0) 0.0 (0.0) (0.1) Trading & Other (2,114.8) (0.5) 12.8 16.9 (1.7) Operating Expenses (21.4) (

  63. Slide 63: Glossary (1/3)

    Glossary (1/3) Reference APM Definitions Relevance of the metric Abbreviation number The item corresponds to (i) "the total amount of provision for credit risk that the Group has recognized and derive from Accumulated Provisions and FV Standard banking contracts with customers", as disclosed in the

  64. Slide 64: Glossary (2/3)

    Glossary (2/3) Relevance of the Reference APM Definitions Abbreviation metric number Non Performing Exposure Total Accumulated Provisions and FV adjustment plus the value of the NPE collateral divided by NPEs at the end of the reported period. NPE Total NPE Total Asset quality metric 13+14 Coverage

  65. Slide 65: Glossary (3/3)

    Glossary (3/3) Relevance of the Reference APM Definitions Abbreviation metric number The figure is calculated as "Total Income" plus "Share of profit/(loss) of associates and joint ventures" as derived from the Consolidated Income Standard banking Operating Income Statement of the reported period, t

  66. Slide 66: Alpha Bank Contacts

    Alpha Bank Contacts Lazaros Papagaryfallou General Manager – CFO +30 210 326 2261 cfo-office@alpha.gr Dimitrios Kostopoulos Elena Katopodi Stella Traka Selini Milioni Manager Deputy Manager Senior Senior Investor Relations Division Investor Relations Division Investor Relations Officer Investor Rela

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