Slide 1: Alpha Bank Q2 2024 Results
Alpha Bank Q2 2024 Results Investor presentation 2nd August 2024
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 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 3
Slide 4: H1 2024 paves the way for higher levels of recurring profitability
H1 2024 paves the way for higher levels of recurring profitability H1 2024 Results Return on Tangible Equity1 Normalised Profit After Tax €437mn Set strong profitability foundation RoTE1 13.6% 13.6% Net Interest income €829mn Earnings Per Share2 Resilient Top line & Growth in Fees Fee Income €197mn
Slide 5: Consolidating leadership in Wholesale
Consolidating leadership in Wholesale Net Loans (€ bn)1 Total Revenues (€ mn) +7% +5% 17 19 422 444 KEY ACHIEVEMENTS Enrichment of Business Digital Offering, integrating new automations and innovative H1 23 H1 24 H1 23 H1 24 solutions, focused on Trade Finance and Payments ROCET1 (%)2 Earned top rol
Slide 6: Alpha Mutual Funds experience unprecedented growth
Alpha Mutual Funds experience unprecedented growth Alpha Mutual Funds Evolution (€ bn) +1.5 (+51%) Significant Growth in Assets under Management (AuMs) 0.3 • 51% AuMs increase, adding €1.5bn 1.2 • Achieved through outstanding sales achievements and 4.5 favorable market conditions 3.0 Strong Profit &
Slide 7: Alpha Mutual Funds surpassed peers
Alpha Mutual Funds surpassed peers 0.9 Mutual Top-Tier Net Sales Activity Funds Net 0.7 Sales • Surpassed peers in mutual funds sales with new 0.5 H1 24 0.4 products and strong sales efforts (€ bn) • Captured over 33% of the mutual fund market inflows 0.1 • Enhanced visibility and promotion of the c
Slide 8: UniCredit deal: Romanian leg finalized, onemarkets funds launched
UniCredit deal: Romanian leg finalized, onemarkets funds launched Merger in Romania Commercial partnership Offer to acquire HFSF’s stake • Joining forces in Romania by combining Entering into a commercial partnership in: • To underpin its commitment to the partnership, respective subsidiaries in the
Slide 9: Upgraded 2024 guidance
Upgraded 2024 guidance 6M 6M March guidance August guidance 2023 2023 2024 2024 2024 Total Revenues (€ bn) 2.1 1.0 1.1 c.2.1 >2.1 Cost-Income Ratio 39% 41% 38% c.40% <40% Cost of Risk 83bps 75bps 64bps c.75bps <70bps ROTE1 12.9% 12.2% 13.6% c.13% >13.5% Normalised EPS2 (€) 0.32 0.15 0.18 c.0.31 c.0.
Slide 10: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 10
Slide 11: Net interest income marginally down versus 2023
Net interest income marginally down versus 2023 Previously…. Updated Higher rates for 2024, A increasing 3M Euribor to 3.6% from 3.5% B NII sensitivity down from c.€18mn to c.€12mn C Slower transition to time deposits from 32% to 29% D Deposit beta at 20% Net interest Income expected to be marginall
Slide 12: Fee income to land above €400m
Fee income to land above €400m Previously…. Updated Assets under Management growing above expectations in H1, translating into higher average volumes for the year. Bancassurance seeing increased levels of investment in unit-linked products Cards & Payments evolving better than expected on stronger a
Slide 13: Cost of Risk expected to land lower
Cost of Risk expected to land lower Previously…. Updated A NPE ratio at c. 4.5% by year- end on the back of acceleration B Cost of Risk guidance <70bps for 2024 C Coverage c. 50% 13
Slide 14: Continuous built-up in excess capital
Continuous built-up in excess capital Previously…. Updated FL CET 1 ratio remains at 16% target for the year-end, despite accelerated NPE clean up On track to deliver the expected distributions to our shareholders 14
Slide 15: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 15
Slide 16: Q2 2024 Group Profit & Loss
Q2 2024 Group Profit & Loss Profit & Loss H1 H1 yoy % Q2 Q1 qoq % Reported Profit After Tax (Romania in Discontinued ops) 2024 2023 change 2024 2024 change (42%) (48%) (€ mn) Net Interest Income 829 779 6% 409 420 (2%) €212mn €191mn €195mn Net fee and commission Income 197 173 14% 100 97 3% Trading
Slide 17: Q2 2024 Group Balance Sheet
Q2 2024 Group Balance Sheet Balance Sheet Tangible Book Value Jun 2024 Mar 2024 Jun 2023 q/q (€ bn) Group, € bn +11% +2% Assets 74.7 74.4 72.9 0.4 6.7 6.6 Securities 17.2 16.3 15.5 0.9 6.4 6.2 Cash & Cash Balances 4.2 4.5 6.6 (0.3) 6.1 Net Loans 35.8 36.3 38.7 (0.5) Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 ECB
Slide 18: Trends evolving largely better than expected
Trends evolving largely better than expected Net Interest Income Net fee and commission income Group, € mn Group, € mn 434 438 101 100 100 420 97 409 396 91 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Recurring operating expenses Cost of Risk1 Group, € mn €mn & bps over net loans 97b
Slide 19: Top line past its local peak but pressure more modest than expected
Top line past its local peak but pressure more modest than expected Interest Income / Interest Expense breakdown1 Performing loan spreads4 Group, € mn Greece, % +6% 3.37% 829 3.27% Individuals 3.18% Business 783 3.13% 3.11% 433 420 409 429 3.09% 396 3.02% 387 2.94% 2.88% 2.83% Q2 23 Q3 23 Q4 23 Q1 2
Slide 20: Stronger activity levels and mutual fund sales boosting fees
Stronger activity levels and mutual fund sales boosting fees € mn € mn Group Segments +14% 197 173 101 100 100 101 100 100 97 97 91 91 82 32 24 82 35 30 38 35 32 40 30 33 26 28 22 16 14 16 19 14 5 5 33 4 4 35 37 29 6 26 30 5 37 34 38 31 31 28 20 26 28 20 21 22 11 11 11 12 5 0 5 0 5 0 0 8 10 3 3 3 1
Slide 21: Costs on track to meet full year guidance
Costs on track to meet full year guidance € mn € mn Group Segments Cost-Income 43% 40% 39% 34% 36% 40% ratio (1%) 211 213 205 206 200 416 414 193 205 211 206 193 213 10 200 101 102 12 98 102 97 17 95 81 84 93 83 85 87 43 38 44 42 39 41 81 86 72 79 68 68 12 11 13 12 13 16 11 16 18 17 18 19 41 42 41 4
Slide 22: Positive net credit expansion in the quarter muted by one off events
Positive net credit expansion in the quarter muted by one off events Performing loan book expansion Net credit expansion +7% Group, € bn Greece, € bn 4.0 3.0 3.1 1.1 Romania YoY 3.7 0.2 Disbursements +4% 0.0 +3% +1% 0% 0.1 0.0 0.2 +1% 0.1 0.2 2.7 29.7 29.9 29.8 28.5 28.7 1.7 1.7 1.9 1.3 1.3 1.3 9% 1
Slide 23: Individuals seeing growth in AuMs, inflow in corporate deposits
Individuals seeing growth in AuMs, inflow in corporate deposits Customer Funds evolution Deposit Mix Group, € bn Greece, € bn +8% +2% 45.8 46.1 45.4 44.8 2% 1% 1% 44.0 64.5 65.8 State 1% 0.9 0.7 (0.4) 1% 60.9 Time 23% 25% 25% 25% 17.6 25% 17.2 AUMs 12.7 Core 75% 74% 74% 74% 75% Deposits 48.2 47.3 48
Slide 24: Solid progress on NPEs accelerating planed convergence
Solid progress on NPEs accelerating planed convergence NPE 0.0 (0.1) (0.1) (0.0) (0.1) Cost of Risk formation bps (over net loans) Greece, € bn (16%) 75 64 Mainly single State 97 case guaranteed 0.10 0.11 77 74 75 14 loans 13 69 14 13 13 13 57 5 8 11 14 13 70 13 58 53 51 43 0.23 31 0.18 0.17 0.17 0.
Slide 25: Quarterly evolution in Capital
Quarterly evolution in Capital CET1 q/q % 0.2% 0.6% 0.1% (0.1%) (0.2%) 16.6% (0.4%) 14.9% 14.8% 0.6% Organic Capital Generation 14.6% Mar-24 Q2 24 Organic DTA DTC RWAs other capital Transactions Jun-24 Jun-24 post Jun-24 1 capital elements dividend accrual pro forma RWAs q/q % €0.17bn 32.2 0.2 0.0 0
Slide 26: Ahead of regulatory requirements with capital buffers expanding
Ahead of regulatory requirements with capital buffers expanding 28.8% 28.0% 21.3% 18.0% 16.6% 14.7% 0.8% 28.0% 28.8% 12.0% 2.0% 0.6% CCyB 9.9% 1.5% 21.3% 0.2% P2R 1.7% 18.0% 16.6% 1.0% O-S II 2.5% CCB Pillar 1 4.5% 1 1 1 1 2024 CET1 Q2 2024 CET1 2024 T1 Required Q2 2024 T1 2024 OCR Q2 2024 CAD 2026
Slide 27: Significant shareholder value creation over the coming years
Significant shareholder value creation over the coming years March guidance FY 23 H1 24 FY 24E FY 25E FY 26E EPS1 0.32 0.18 c.0.33 c.0.33 > 0.35 c. 5x PE4 (2024-2026 average) ROTE3 12.9% 13.6% >13.5% c.13.5% >14% c. 0.5x PTBV4 (2024-2026 average) Assumed payout2 20% 35% 35% 50% 50% c. 30% of Market
Slide 28: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 28
Slide 29: Retail: Uplift from fees and subdued deposit beta sustain profitability levels
RETAIL Uplift from fees and subdued deposit beta sustain profitability levels Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) H1 24 H1 23 ∆difference, % +39mn €0.3bn Net loans 9,198 9,014 2% Revenues y/y Deposits y/y Deposits 33,642 33,347 1% +43mn +0.5mn €0.8bn Total revenues 404 365 11% Prof
Slide 30: Wholesale: Volume growth and RWA optimization lead profitability higher
WHOLESALE Volume growth and RWA optimization lead profitability higher Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) ∆difference, % H1 24 H1 23 +23mn (0.5bn) Net loans4 18,648 17,498 7% Revenues y/y Deposits y/y Deposits5 8,900 9,934 (6%) (2mn) €0.8bn Total revenues 444 422 5% Profits3 y/y N
Slide 31: Wealth: Growth in AuMs leading fees and profitability higher
WEALTH Growth in AuMs leading fees and profitability higher Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) H1 24 H1 23 ∆difference, % +13mn €1.8bn Assets under 17,591 12,660 39% Revenues y/y Mutual Funds y/y Management Total revenues 64 51 25% +8mn €3.1bn Recurring Operating (26) (23) 11% Pro
Slide 32: International: Volume growth leading revenues higher
INTERNATIONAL Volume growth leading revenues higher Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) H1 24 H1 23 ∆difference, % +2mn €0.5bn Net loans 1,296 1,236 5% Revenues y/y Deposits y/y4 Deposits 3,396 2,917 16% (9mn) €0.1bn Total revenues 74 72 3% Profits3 y/y Net Loans y/y4 Recurring Ope
Slide 33: NPAs and Corporate Center
NPAs and Corporate Center Non Performing Assets (NPAs) Corporate Center (in €mm) H1 24 H1 23 ∆difference, % (in €mm) H1 24 H1 23 ∆difference, % Net loans 1,289 2,212 (42%) Assets 20,501 19,765 4% Assets 218 185 18% TBV 1,626 1,200 35% Total revenues 25 52 (51%) Total revenues 82 43 88% Recurring Ope
Slide 34: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 34
Slide 35: Restored confidence combined with solid and broad-based growth
Restored confidence combined with solid and broad-based growth Greece vs EA: Stronger growth dynamics and better economic sentiment Growth performance in Q1 2024 stood at 2.1% y-o-y, well above Euro area 20 120 ✓ average (0.4% y-o-y). 16 110 12 The main growth drivers are: 8 o real private consumpti
Slide 36: Return to Investment Grade and Real estate prices evolution
Return to Investment Grade and Real estate prices evolution 10-year GB spreads and Athens Stock Exchange Index Nominal Residential and Commercial Real Estate Prices 16% 110 3.5 12% 100 Regaining investment grade by S&P (BBB-) 1500 8% 90 3 4% 1400 80 0% 70 2.5 -4% 1300 -8% 60 -12% 50 2 1200 -16% 40 Ι
Slide 37: Fiscal consolidation, solid growth rates and declining inflation
Fiscal consolidation, solid growth rates and declining inflation De-escalation of Public Debt to Nominal GDP, on the back of… …the return to GG primary surpluses 240% 3.0 1.9 2.1 2.1 195.0% 200% 1.5 172.7% 161.9% 0.0 152.7% 0.0 160% 146.3% 120% -1.5 -1.1 -0.9 -2.0 -1.9 80% -3.0 -3.7 40% -4.5 -4.5 0%
Slide 38: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 38
Slide 39: Steady progress along our sustainability strategy
Steady progress along our sustainability strategy Milestones towards our commitment to a more sustainable and resilient future 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 achi
Slide 40: Ongoing alignment with our Stakeholders’ expectations
Ongoing alignment with our Stakeholders’ expectations Key stakeholders Investors Regulators Customers Employees Society • Net Zero targets • National Laws • Access to finance • Diversity & inclusion • Diversity & inclusion Expectations • Diversity & inclusion • EU Regulations • Data privacy • Health
Slide 41: Operationalizing Sustainable Finance in our business
Operationalizing Sustainable Finance in our business A dual approach to integrating Sustainability within our Business Model and Climate Risk Framework Setting Clear Emission Targets Setting specific, measurable emissions reduction targets, in line with international standards and agreements Integra
Slide 42: Our ESG strategy is focused on achieving ambitious, measurable targets…
Our ESG strategy is focused on achieving ambitious, measurable targets… Credible Commitments and ambitious Targets in line with Sustainable Development Goals Support an environmentally Foster healthy economies Ensure robust & transparent Our Vision sustainable Economy and Societal progress Governanc
Slide 43: …and our results deliver tangible impacts
…and our results deliver tangible impacts Support an environmentally Foster healthy economies and Ensure robust & transparent sustainable Economy Societal progress Governance EUR 0.8 billion ✓ Sustainable loan > 300 62% Women employees at Group 45% Women in managerial posts at 39% Corporate and SM
Slide 44: Continued improvement in Sustainability Disclosures
Continued improvement in Sustainability Disclosures Reflecting our continuous efforts to support a sustainable economy in a transparent manner • The17th individual publication by Alpha Bank • Presenting the progress on the Sustainability • Promote transparency and Strategic Pillars to achieve value
Slide 45: Actions reflected in Ratings and institutional engagement
Actions reflected in Ratings and institutional engagement 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 sustai
Slide 46: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 46
Slide 47: Loan and deposit spreads
Loan and deposit spreads Net loan balances & spreads Deposit mix & cost evolution € bn bps, € bn 229 264 285 276 274 350 % Total 317 306 298 51.8 52.3 293 48.4 47.3 48.2 287 300 14.8 15.5 13.0 13.1 27% 13.1 38.7 38.8 End of 250 37.0 36.8 35.5 34.2 35.0 73% 36.2 36.3 35.8 quarter balances Q2 23 Q3 23
Slide 48: Operating Expenses
Operating Expenses Group, € mn Q2 24 Q2 23 yoy % Q2 24 Q1 24 qoq % Recurring Operating Expenses evolution €mn Staff costs (93.3) (81.3) 14.8% (93.3) (87.3) 6.9% 211 206 213 193 200 General Administrative (79.1) (91.3) (13.4%) (79.1) (71.9) 10.0% expenses 81 93 Staff costs 85 87 84 Depreciation and (
Slide 49: Alpha Bank Group
Alpha Bank Group qoq% yoy% (€ mn) Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 change change Net Interest Income 396.2 434.2 438.2 419.7 409.2 (2.5%) 3.3% Net fee and commission income 91.2 101.4 99.7 96.8 100.1 3.5% 9.7% Income from financial operations 24.3 (13.1) 20.1 31.9 13.3 (58.2%) (45.1%) Other i
Slide 50: Reported to Normalised
Reported to Normalised Profit & Loss (€ mn) Bridge between reported and normalised profit Q2 2024 Published Delta Normalised Net Interest Income 409 0 409 Net fee and commission Income 100 0 100 Trading income 13 0 13 Other income 17 0 17 Operating Income 540 540 Staff costs (93) 0 (93) General Admi
Slide 51: Reported to Normalised
Reported to Normalised Bridge between Reported and Normalised Profit - Quarterly (€ mn) Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Reported Profit/ (Loss) after income tax 123 115 70 59 111 191 195 121 212 110 Net Interest Income 0 0 0 0 0 0 0 0 0 0 Net fee and c
Slide 52: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 52
Slide 53: Balance sheet composition
Balance sheet composition Asset split Liabilities and Equity split € bn € bn 74.4 74.7 74.4 74.7 Cash 4.5 Cash 4.2 4.0 ECB 4.0 ECB Due from Banks 1.8 Due from Banks 1.7 3.7 Due to Banks 4.4 Due to Banks Securities 16.3 Securities 17.2 13.1 Time Deposits 13.1 Time Deposits 47.3 48.1 34.2 Core Deposit
Slide 54: New disbursements in Q2 2024
New disbursements in Q2 2024 Performing loans New disbursements – per category Greece, € bn Greece, € mn Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 22 22 22 22 23 23 23 23 24 24 Beginning of Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 24.8 25.8 26.7 27.4 27.3 26.9 27.3 27.5 28.4 28.6 period 21 21 21 22 22 22 22 23 23
Slide 55: Breakdown of loans portfolio – June 2024
Breakdown of loans portfolio – June 2024 Total Group loans – per segment Group Loans portfolio structure1 € bn € bn Consumer loans Credit Cards 3% Households 3% Small Business Loans Other 26% 5% 21% Agriculture 1% Mortgages Administrative and 19% support service activities €36.5bn €36.5bn Transporta
Slide 56: Securities portfolio breakdown
Securities portfolio breakdown Securities portfolio breakdown Group, Book value, Jun-24, € bn ▪ The “Other/ECB eligible” bonds of €8.5bn is broken down to the following T-bills Mutual Funds & Equities categories: 0.8 0.3 o/w 14.5bn • €4.4bn other sovereign bonds HQLAs • €0.9bn bonds issued by supran
Slide 57: Securities portfolio evolution
Securities portfolio evolution Portfolios evolution Q2 2024 New investments Group, Book value € bn Group % of total 12% 10% 11% 14% 14% 14% 17% 20% 21% 21% 22% 22% 23% assets €16.1bn €17.1bn Other €15.6bn €15.9bn €15.0bn Mod. Duration 16% €14.3bn c.2.5Y €13.1bn 44% GGBs/T-Bills HQLAs €10.4bn €9.9bn
Slide 58: Deposits flow per quarter
Deposits flow per quarter Alpha Bank deposits evolution in Greece Deposits breakdown – June 2024 Greece, € bn Q3: Q4: Q1: Q2: €0.2bn (€0.7bn)1 (€1.3bn) €0.8bn Time 45.8 0.5 46.1 45.4 25% 44.0 0.9 44.8 (0.3) (0.3) (0.4) (0.1) (1.1) (0.2) Δ Core Δ Time 75% Core Jun-23 Core Time Sep-23 Core Time Dec-23
Slide 59: ECB Balances and Liquidity metrics
ECB Balances and Liquidity metrics ECB balances Group LCR & LDR Group, € bn % % over 17% 17% 12% 7% 7% 5% 5% 188% 193% 192% Total 183% 184% Assets 13.0 ECB Collateral pledged ▪ Credit claims LCR ▪ GGBs & T-bills LDR ▪ Other bonds 9.0 75% 74% 75% 77% 74% 13.5 TLTRO 13.1 5.0 5.0 5.0 12.3 12.4 4.0 4.0
Slide 60: Wealth management
Wealth management Asset Management balances Private Banking Group, € bn Group, € bn 17.2 17.6 15.7 8.1 8.3 7.6 6.5 7.1 7.2 1.8 6.0 1.9 12.7 12.7 5.3 1.9 2.0 1.9 4.7 4.8 2.1 2.1 3.0 3.2 1.9 2.8 1.8 1.8 2.2 2.5 2.1 1.9 1.8 1.4 1.6 6.8 7.4 7.0 4.9 4.7 2.0 1.9 2.0 2.3 2.3 0.8 0.8 0.8 0.9 0.9 Jun-23 Sep-
Slide 61: Business Volumes
Business Volumes (€ mn) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 % YoY Group Gross Loans 39,787 39,883 37,072 37,243 36,541 (8.2%) Mortgages 9,198 9,132 7,335 7,299 7,083 (23.0%) Consumer Loans 1,553 1,514 1,253 1,281 1,253 (19.3%) Credit Cards 1,015 1,029 959 1,023 1,003 (1.1%) Small Business L
Slide 62: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 62
Slide 63: Continuous improvement in key digital metrics
Continuous improvement in key digital metrics Q2 ’24 Key Achievements Investor Day KPIs 2022 2023 H1/2024 2024 Target • +32% Digital Sales Items in H1 YoY Digital Sales 19% 23% 25% 25% • Key Digital Launches Daily Banking o Skroutz.gr Loan Digitalization2 65% 82% 85% 90% o Premier Account Opening Ac
Slide 64: Q2-2024 Key Digital Launches
Q2-2024 Key Digital Launches Skroutz.gr Loan released on 27/05/2024 Premier Account Opening released on 25/05/2024 > 200 > 900 Loans1 Accounts1 1| Data as of June 2024 64
Slide 65: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 65
Slide 66: 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 170 97 334 80 56 17 4 18 70 (70) (84) (147) (28) (50) (186) (192) (155) (284) (353) (254) (461) (994) 2018 2019 2020 2021 2022 2023 Q2 Q3 Q4 Q1 Q2 2018
Slide 67: Auctions and repossession activity evolution
Auctions and repossession activity evolution Auctioned properties (Conducted) per quarter 1.344 ▪ During 1Η 2024, the Bank continued with its disinvestment strategy through the completion of €33.5mn REO sales in Greece (including €24.7mn Skyline 749 perimeter) and €5.2mn in Cyprus and SEE. Sales in
Slide 68: 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 24.6 1.9 6.5 2.2 35.2 (-) Accumulated Provisions (0.2) (0.2) (0.2) (0.2) (0.8) Net loans 24.3 1.8 6.3 2.0 34.4 NPLs 0.2 0.2 0.3 0.2 0.9 NPL ratio 0.6% 9.0% 5.3% 9.0% 2.5% N
Slide 69: 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 25.3 1.9 7.1 2.3 36.5 (-) Accumulated Provisions (0.2) (0.2) (0.2) (0.2) (0.8) Net loans 25.0 1.8 6.9 2.1 35.7 NPLs 0.2 0.2 0.371 0.2 0.9 NPL ratio 0.6% 8.9% 5.2% 8.8% 2.4%
Slide 70: Pages
Pages • Business Update 3 • 2024 Guidance upgrade 10 • Financial Performance Analysis 15 • Appendix Alpha Bank ▪ Segmental Information 28 ▪ Macroeconomic Update 34 ▪ ESG 38 ▪ P&L 46 ▪ Volumes 52 ▪ Digital 62 ▪ Asset Quality 65 ▪ Capital 70 70
Slide 71: Fully loaded Regulatory Capital
Fully loaded Regulatory Capital Equity to fully loaded regulatory capital bridge € mn 9.1% Tangible book value / Tangible Assets 7,191 6,734 (457) 968 6,155 400 5,187 (1,721) 4,787 (225) Ordinary Equity Intangibles Tangible DTA deduction Other CET1 AT1 & Hybrids Tier 1 Lower Tier II Total CAD Book V
Slide 72: Group RWAs and Regulatory Capital
Group RWAs and Regulatory Capital Group Risk Weighted Assets – Fully Loaded Credit Risk Weights per portfolio € bn % €0.17bn 32.2 0.2 0.0 32.4 100% 0.5 3.3 0.0 0.5 3.3 48% 50% 28.4 28.6 Performing Net NPE Total Loan Portfolio Mar-24 Credit Market Operational Jun-24 RWA Density Credit Market Operatio
Slide 73: Further progress towards meeting MREL Requirements
Further progress towards meeting MREL Requirements ▪ Further progress towards final MREL targets in a sustainable fashion 28.84% ▪ No subordinated MREL requirement 0.66% 27.99% ▪ Expect Alpha Bank to continue to be a regular issuer in the debt capital markets 3.73% 6.75% ▪ MREL ratio as of 30.06.202
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 Main Income and expense items that are excluded for purposes of the normalized
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 Vasileios Kosmas Deputy CEO CFO +30 210 326 2261 +30 210 326 2321 deputy.ceo@alpha.gr vgk-office@alpha.gr Iason Kepaptsoglou Stella Traka Selini Milioni Director Manager Senior Investor Relations Division Investor Relations Division Investor Relations Speci