Alpha Bank S.a. · ATHEX:ALPHA

Alpha Bank — Q4 2020 Earnings Presentation

62 slides from Alpha Bank's earnings presentation, Mar 24, 2021

  1. Slide 1: Alpha Bank FY 2020 Results

    Alpha Bank FY 2020 Results Investor Presentation March 23rd, 2021

  2. Slide 2: Disclaimer

    Disclaimer This presentation has been prepared and issued by Alpha Bank solely for informational purposes. For the purposes of this disclaimer, this presentation shall mean and include materials, including and together with any oral commentary or presentation and any question and answer session. By

  3. Slide 3: Pages

    Pages • 2020 Highlights 3 • 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20 • Appendix  ESG 24  Asset Quality 26  Capital 34  Volumes 37  P&L 45 3

  4. Slide 4: 2020 Highlights and 2021 Outlook

    2020 Highlights and 2021 Outlook  Alpha Bank entered into definitive agreements with Davidson Kempner over its €10.8bn Galaxy portfolio and the sale of an NPE 80% stake in Cepal; expected to complete in Q2 2021 Deleveraging  Post Galaxy, Alpha Bank’s NPE and NPL ratio1 in Greece is reduced to 24%

  5. Slide 5: Alpha Bank delivered strong financial performance in FY 2020; Asset quality significantly improved

    Alpha Bank delivered strong financial performance in FY 2020; Asset quality significantly improved Expansion of operating income Continued cost control Improvement in Core PPI Operating income, Euro mn Recurring operating expenses, Euro mn Core PPI, Euro mn 3.4% +12% -3.6% 831 859 2,591 1,080 1,042

  6. Slide 6: Commercial Activity: Loan growth supported by deposits inflows with fee platform further strengthened

    Commercial Activity: Loan growth supported by deposits inflows with fee platform further strengthened Strong new disbursements despite macro headwinds Strong customer deposit inflows with a change in mix Greece, Euro bn Group, EUR bn Greece, EUR bn +2.1 +3.5 +3.6 5.6 o/w €5.3bn business 43.8 38.0 40

  7. Slide 7: Swift execution of Galaxy during pandemic with clear timeline to closing

    Swift execution of Galaxy during pandemic with clear timeline to closing Feb 2021 April 2021 Q2 2021 By H2 2021 Sale of 80% of New CEPAL Distribution of  Carve-out of NPE Management unit onto CEPAL already Galaxy Hive-Down Galaxy Galaxy Notes to completed, with servicer currently fully operational

  8. Slide 8: Pages

    Pages • 2020 Highlights 3 • 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20 • Appendix  ESG 24  Asset Quality 26  Capital 34  Volumes 37  P&L 45 8

  9. Slide 9: Balance sheet clean-up continues unabated in 2021

    Balance sheet clean-up continues unabated in 2021 NPE portfolio to decrease by a further 30% in 2021 Greece, Euro bn NPE ratio (Greece)¹ 52% 24% <18% NPE  Since 2017, Alpha Bank 34% 13% <10% <10% has delivered c.€16bn NPL ratio (Greece)¹ of NPE reduction, or 2/3 of the starting stock -65% 25.0 16.2

  10. Slide 10: Strong capital position throughout 2021, comfortably covering OCR requirements

    Strong capital position throughout 2021, comfortably covering OCR requirements and always remaining within stated management targets Total Capital and CET1 ratios evolution Group, % transitional  Alpha Bank’s buffers well above RWAs €45bn €39bn ~ €37.5bn regulatory requirements and Total within man

  11. Slide 11: €3.3bn NPE transactions to be launched in H1 21 - €2.0bn securitisation in Greece

    €3.3bn NPE transactions to be launched in H1 21 - €2.0bn securitisation in Greece to apply for HAPS 2 Cosmos Orbit Sky NPE GBV EUR 2.0bn EUR 0.9bn EUR 0.4bn Greek NPE securitisation Description Greek NPE portfolio sale Cyprus NPE portfolio sale under HAPS Expected H2 2021 H2 2021 H2 2021 agreement 2

  12. Slide 12: 2021 inflows, primarily driven by moratoria, expected to be partially counterbalanced by curings

    2021 inflows, primarily driven by moratoria, are expected to be partially counterbalanced by curings and other management actions Negative gross formation in Greece PE Moratoria – mitigating actions Greece, EUR bn Greece, EUR bn Net Organic (0.6) (1.2) (0.5) 0.3 Formation o/w c.€1.0bn Re-performance

  13. Slide 13: Pages

    Pages • 2020 Highlights 3 • 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20 • Appendix  ESG 24  Asset Quality 26  Capital 34  Volumes 37  P&L 45 13

  14. Slide 14: FY 20 Financial Performance overview

    FY 20 Financial Performance overview Core PPI up by 3.4% y-o-y… …supported by stable NII… …due to lower funding costs …resilient Fee Income.. EUR mn EUR mn bps EUR mn -1% 1,434 -0.4% Loan450 200 340 335 +3.4% (116) 1,547 1,542 Spreads 399 395 392 397 150 690 400 Time 100 831 859 350 Deposit +2% 35 2

  15. Slide 15: FY 20 Group P&L and Balance Sheet

    FY 20 Group P&L and Balance Sheet Profit & Loss FY FY yoy % Q4 Q3 qoq % Balance Sheet YoY 2020 2019 change 2020 2020 change 31/12/20 30/09/20 31/12/19 (EUR mn) (EUR bn) change Net Interest Income (NII) 1,542 1,547 (0.4%) 388 382 1.6% Assets 70.1 68.6 63.5 6.6 Net fee and commission Income 335 340 (1

  16. Slide 16: Total Capital ratio at 18.4% in Q4 20

    Total Capital ratio at 18.4% in Q4 20 Total Capital ratio quarterly evolution EUR bn 8.4 8.3 7.1 €2.0bn Buffer over 18.3% 27bps 12bps 18.4% 14.0%1 CAD 16.0% (10)bps (23)bps Tier 2 €3.7bn Buffer 17.2% 17.3% over 9.2% CET1 14.8% CET1 Total Capital ratio Q4 20 Decrease of RWAs New CRR Decrease of Total

  17. Slide 17: Group deposits inflow of €2.1bn in Q4 2020; Group LCR stands comfortably at 151%

    Group deposits inflow of €2.1bn in Q4 2020; Group LCR stands comfortably at 151% Deposits evolution ECB balances Group, EUR bn EUR bn +€3.5bn Y-o-Y +€2.1bn % over Q-o-Q Total 5% 6% 17% 17% 17% 1.3 43.8 Assets 41.7 0.9 40.4 (0.1) 11.9 11.9 11.9 5.8 ECB Collateral 5.9 Abroad 5.9 pledged 3.9  Credit c

  18. Slide 18: Negative gross organic formation in Greece

    Negative gross organic formation in Greece Negative gross formation in Greece Gross formation (Organic) - Retail EUR bn EUR mn (124) (94) (63) (186) Gross NPE (0.6) (1.2) (0.5) (0.4) (0.1) (0.0) (0.0) (339) formation (620) EUR bn (994) 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20 Entries 2.64 2.24 1.66 0.

  19. Slide 19: Cost of Risk for the core portfolio <100bps for FY 2020

    Cost of Risk for the core portfolio <100bps for FY 2020 Q4 20 Group impairment losses on loans Group NPE & NPL coverage pro forma Galaxy EUR mn % Q-o-Q 21pps o/w €320mn incorporating portfolio sale scenarios 569 307 5pps 85% 245 261 64% Sep-20 169 45% 50% Dec-20 pf Galaxy Q4 19 Q1 20 Q2 20 Q3 20 Q4

  20. Slide 20: Pages

    Pages • 2020 Highlights 3 • 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20 • Appendix 24  ESG 26  Asset Quality 34  Capital 37  Volumes 45  P&L 20

  21. Slide 21: Milder-than-expected economic contraction of 8.2%, on the back of the sizeable fiscal stimulus

    Milder-than-expected economic contraction of 8.2%, on the back of the sizeable fiscal stimulus Real GDP declined on an annual basis in Q4, albeit …. on the back of the decline in private consumption and continued to recover on a quarterly read, … net exports … 10% 120 6% 5% 4.2% 0% 4.8% 0% 100 -6% -

  22. Slide 22: Credit growth supported businesses' liquidity, especially sectors heavily impacted by the pandemic

    Credit growth supported businesses’ liquidity, especially those sectors that are heavily impacted from the pandemic and the lockdown Gross Value Added: Contribution by sector of economic Credit to domestic non-financial corporations increased activity in 2020 4% Storage and transportation* 35.1% Tou

  23. Slide 23: Job retention policies alleviated a hike in unemployment rate

    Job retention policies alleviated a hike in unemployment rate and moderated disposable income losses Labour market developments in the Covid world Current developments in disposable income, savings and consumption Netherlands Germany 15 200 Bulgaria Euro billion, current prices Austria Dec 2019 Dec

  24. Slide 24: Pages

    Pages • 2020 Highlights 3 • 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20 • Appendix  ESG 24  Asset Quality 26  Capital 34  Volumes 37  P&L 45 24

  25. Slide 25: Alpha Bank's sustainability journey

    Alpha Bank's sustainability journey Alpha Bank, signed (August 2019) the six Principles for Responsible Alpha Bank significantly contributes to 6 SDGs Banking (PRB) and has created a four-year plan and set targets for the implementation of the Principles of Responsible Banking Alpha Bank demonstrate

  26. Slide 26: Pages

    Pages • 2020 Highlights 3 • 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20 • Appendix  ESG 24  Asset Quality 26  Capital 34  Volumes 37  P&L 45 26

  27. Slide 27: Gross organic NPE formation in Greece per segment

    Gross organic NPE formation in Greece per segment Gross formation (Organic) - Wholesale Gross formation (Organic) - Retail EUR mn EUR mn 80 50 35 34 (124) (94) (63) (40) (186) (339) (192) (620) (461) (994) 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20 2018 2019 2020 Q1 20 Q2 20 Q3 20 Q4 20 Gross formation

  28. Slide 28: Auctions and repossession activity evolution

    Auctions and repossession activity evolution Auctioned properties (Conducted) per quarter FY 20 successfully auctioned properties: Breakdown 1.782 by highest bidder No conducted auctions in Q2 due to Covid-19 3rd parties 789 775 26% Alpha Bank 525 558 412 374 40% 42% 41% 0 40% 31% 36% 34% 0% Q1 2019

  29. Slide 29: Detailed overview of asset quality by portfolio pro-forma Galaxy - Greece

    Detailed overview of Alpha Bank’s asset quality by portfolio pro-forma Galaxy - Greece (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 16.1 2.9 9.7 4.0 32.8 (-) Accumulated Provisions (1.3) (0.7) (0.8) (1.4) (4.2) Net loans 14.8 2.2 8.9 2.6 28.6 NPLs 1.1 0.9 1.3 1.4 4.7 1 NPL ratio 6.9% 31

  30. Slide 30: Detailed overview of asset quality by portfolio pro-forma Galaxy - Group

    Detailed overview of Alpha Bank’s asset quality by portfolio pro-forma Galaxy - Group (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 19.1 3.0 12.8 4.5 39.4 (-) Accumulated Provisions (1.9) (0.7) (1.6) (1.5) (5.7) Net loans 17.1 2.3 11.3 3.0 33.7 NPLs 1.8 1.0 2.5 1.5 6.8 1 NPL ratio 9.4% 3

  31. Slide 31: Excellent track record in off-loading the most problematic part of the NPEs

    Excellent track record in off-loading the most problematic part of the NPEs Size Completion Transaction details “Corporate Loan Sale” €82mn Q4 2017  Syndicated non-performing corporate loan Portfolio of non-performing unsecured consumer and small “Project Venus” c. €0.9bn Q1 2018  business loans “

  32. Slide 32: Asset quality by portfolio before Galaxy impact - Greece

    Detailed overview of Alpha Bank’s asset quality by portfolio before Galaxy impact - Greece (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 18.7 5.0 13.9 4.9 42.5 (-) Accumulated Provisions (2.8) (1.7) (2.1) (1.8) (8.3) Net loans 15.9 3.3 11.8 3.1 34.2 NPLs 3.0 2.7 4.7 2.2 12.5 NPL ratio 16

  33. Slide 33: Asset quality by portfolio before Galaxy impact - Group

    Detailed overview of Alpha Bank’s asset quality by portfolio before Galaxy impact - Group (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 21.6 5.1 17.0 5.4 49.1 (-) Accumulated Provisions (3.4) (1.7) (2.8) (1.9) (9.8) Net loans 18.2 3.4 14.2 3.5 39.3 NPLs 3.7 2.8 5.8 2.3 14.6 NPL ratio 17.

  34. Slide 34: Pages

    Pages • 2020 Highlights 3 • 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20 • Appendix  ESG 24  Asset Quality 26  Capital 34  Volumes 37  P&L 45 34

  35. Slide 35: Group RWAs and Regulatory Capital

    Group RWAs and Regulatory Capital Group Risk Weighted Assets IFRS 9 and B3 DTA amortisation EUR bn EUR mn (€0.7bn) 46.1 0.1 45.4 Amortisation 2020 2021 2022 2023 2024 3.6 (0.4) (0.4) 3.2 IFRS 9 -239 -319 -398 -398 1.6 1.7 40.4 DTA Basel 3 -39 -39 -39 -39 -39 40.9 Sep-20 Credit Market Operational Dec

  36. Slide 36: Regulatory Capital and Capital Requirements

    Regulatory Capital and Capital Requirements Equity to regulatory capital bridge Overall Capital Requirements EUR mn % 11.1% Tangible book value / Tangible Assets 14.0% 0.5% O-S II 2.5% 11.0% Composed by 8,289 7,827 512 8,342 CCB Composed CET 1 (1.7%) 7,687 1,152 3 7,830 3.0% 3.0% AT1 (0.55%) entirel

  37. Slide 37: Pages

    Pages • 2020 Highlights 3 • 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20 • Appendix  ESG 24  Asset Quality 26  Capital 34  Volumes 37  P&L 45 37

  38. Slide 38: Balance sheet composition

    Balance sheet composition Asset split Liabilities and Equity split EUR bn EUR bn 70.1 70.1 68.6 68.6 Cash 5.1 Cash 7.5 11.9 11.9 ECB ECB Due from Banks 2.8 Due from Banks 2.7 Due to Banks 1.2 Due to Banks 1.3 Securities 10.5 Securities excl. ECB excl. ECB 10.1 13.7 14.4 Time Time 17.1 17.1 deposits

  39. Slide 39: Business Volumes

    Business Volumes % Dec 2020/ (€ mn) Dec 2020 Sep 2020 Jun 2020 Mar 2020 Dec 2019 Dec 2019 Group Gross Loans 49,130 49,148 48,756 49,095 48,731 0.8% Mortgages 17,008 17,073 17,181 17,294 17,474 (2.7%) Consumer Loans 4,187 4,208 4,207 4,218 4,258 (1.7%) Credit Cards 1,257 1,309 1,297 1,310 1,415 (11.2

  40. Slide 40: Breakdown of loans portfolio – December 2020

    Breakdown of loans portfolio – December 2020 Total Group loans – per segment Group Loans portfolio structure EUR bn SBLs EUR bn Households 9% 46% Media & Consumer loans Communication 9% Mortgages 1% Credit Cards 35% Agriculture 3% €49.1bn 1% €49.1bn Energy Trade 2% 13% Real Estate Wholesale loans 44

  41. Slide 41: Revenue to be supported by increase in new financing of €5.6bn in 2020

    Revenue to be supported by increase in new financing of €5.6bn in 2020 vs. €3.5bn in 2019 New disbursements – per category FY 2020 Business disbursements – per sector EUR mn Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 19 19 19 19 19 20 20 20 20 20 Agriculture Entertainment 3% Individuals 48 70 75 119 312 64 84 87

  42. Slide 42: Deposits flow per quarter

    Deposits flow per quarter Alpha Bank deposits evolution in Greece Deposits breakdown – December 2020 EUR bn Q1: Q2: Q3: Q4: €1.6bn (€1.1bn) €0.8bn €2.2bn 0.9 2.8 38.0 34.5 1.4 0.2 36.1 35.0 1.3 35.8 Time (0.6) Δ Time 28% (2.0) (0.5) Δ Core Core 72% Dec-19 Core Time Mar-20 Core Time Jun-20 Core Time

  43. Slide 43: Wealth management evolution

    Wealth management evolution Alpha Private Bank balances Asset Management balances EUR mn EUR mn 4,539 4,553 4,262 4,282 2,282 2,230 1,167 1,102 997 993 61 48 1,962 1,997 51 50 1,548 1,474 1,278 1,300 2,934 2,764 2,859 2,779 673 633 647 708 437 486 525 593 Dec-19 Jun-20 Sep-20 Dec-20 Dec-19 Jun-20 Se

  44. Slide 44: Quality improvement of our remote services resulted in increased digital sales penetration

    Quality improvement of our remote services resulted in increased digital sales penetration Shift of financial transactions from Alpha Bank the only Greek Bank offering Branches to digital networks (e-banking, Mobile Banking Apple Pay to its customers 1 ATM and APS) 93.3% (% share of digital over tot

  45. Slide 45: Pages

    Pages • 2020 Highlights 3 • 2021 Outlook 8 Alpha Bank • Financial Performance Analysis 13 • Macroeconomic Update 20 • Appendix  ESG 24  Asset Quality 26  Capital 34  Volumes 37  P&L 45 45

  46. Slide 46: Net Interest Income

    Net Interest Income NII qoq evolution EUR mn NII decomposition EUR mn €6mn 5.1 4.1 388.0 387 381 391 382 388 381.8 50 -2.8 -0.2 50 51 42 46 399 390 391 386 391 4 4 NII Loans Deposits Funding Bonds NII (52) (48) (47) (51) (53) Q3 20 & Other Q4 20 (10) (10) (4) Q4 19 Q1 20 Q2 20 Q3 20 Q4 20  Net Inte

  47. Slide 47: Net Fee and Commission income

    Net Fee and Commission income Net Fee & Commission Income evolution y-o-y Net Fee & Commission Income evolution q-o-q EUR mn EUR mn -1% -1% 340 1 3 1 335 85 3 3 1 84 9 11 2 (5) 2 0 3 60 (9) 15 66 (1) (6) 18 271 258 68 63 FY 19 Cards Loans Other Bancassurance Asset IB & FY 20 Q3 20 Cards Loans Other

  48. Slide 48: Loan and deposit spreads

    Loan and deposit spreads Net loan balances & spreads Deposit mix & cost evolution EUR bn EUR bn, bps 402 400 395 397 (50) (47) (45) (47) (48) 392 % Total 40.4 41.9 40.9 41.7 43.8 39.3 39.8 39.4 39.8 39.4 17.1 15.0 14.4 13.7 End of 17.0 31% quarter 23.4 24.8 25.8 27.3 30.1 69% balances Q4 19 Q1 20 Q2

  49. Slide 49: Recurring Operating Expenses

    Recurring Operating Expenses Recurring OPEX evolution yoy Recurring OPEX evolution qoq EUR mn EUR mn - €39mn + €10mn -4% +4% 1,081 1,042 9 12 264 5 7 274 Depreciation 12 Cepal 0 & amortization 145 (29) (30) 39 3 (2) 39 9 154 459 Staff costs 105 110 428 General 477 117 115 expenses 448 FY 19 General

  50. Slide 50: Operating Expenses

    Operating Expenses EUR mn FY 19 FY 20 yoy % Recurring OPEX evolution EUR mn Staff costs (458.8) (434.4) (5.3%) General Administrative Depreciation & (477.2) (453.0) (5.1%) 284 274 amortisation expenses 252 253 264 37 39 Depreciation and 38 38 39 (144.5) (154.5) 6.9% General amortisation administrati

  51. Slide 51: SEE Operations

    SEE Operations 1 EUR mn Δ% Δ% Δ% Δ% Dec-20 Romania yoy Cyprus yoy Albania yoy Total SEE yoy Deposits 2,644 1.9% 2,067 (3.7%) 512 (2.8%) 5,222 (0.8%) Gross Loans 2,643 (0.5%) 3,271 (8.7%) 282 (4.7%) 6,196 (5.2%) Mortgages 1,250 6.6% 1,762 (5.8%) 76 6.8% 3,089 (0.9%) Consumer Credit 231 (2.9%) 230 (3.

  52. Slide 52: Alpha Bank Group

    Alpha Bank Group qoq% yoy % (€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 change change Net interest income 388.0 381.8 390.7 381.2 387.1 1.6% 0.2% Net fee and commission income 83.8 84.8 77.5 89.2 93.1 (1.2%) (10.0%) Income from financial operations 429.5 38.4 138.5 83.6 138.0 … … Other Income 5.0

  53. Slide 53: Group Results by Business Unit

    Group Results by Business Unit Investment Asset Commercial & Retail SE Europe Banking & Other Group Corporate Management (€ mn) Treasury Jan-Dec Jan-Dec Jan-Dec Jan-Dec Jan-Dec Jan-Dec Jan-Dec 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Operating Income 822.7 811.0 617.8 60

  54. Slide 54: Results: Retail Business Unit

    Results: Retail Business Unit (€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Operating Income 244.2 195.4 193.6 189.6 207.7 Net Interest Income 163.6 159.0 164.8 163.0 164.7 Net fee and Commission Income 27.8 31.5 27.3 24.0 32.2 Trading & Other 52.8 4.9 1.5 2.6 10.7 Operating Expenses (151.2) (141.7

  55. Slide 55: Results: Commercial & Corporate Business Unit

    Results: Commercial & Corporate Business Unit (€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Operating Income 156.8 149.4 158.4 153.2 119.6 Net Interest Income 131.7 127.4 133.5 127.4 129.2 Net fee and Commission Income 27.6 28.0 24.1 27.1 32.4 Trading & Other (2.5) (6.0) 0.8 (1.3) (42.0) Operating

  56. Slide 56: Results: Asset Management Business Unit

    Results: Asset Management Business Unit (€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Operating Income 25.0 11.9 14.0 20.0 19.5 Net Interest Income 3.5 3.7 4.1 3.2 3.9 Net fee and Commission Income 14.8 12.0 10.2 14.9 14.5 Trading & Other 6.7 (3.8) (0.2) 1.9 1.1 Operating Expenses (10.8) (9.9) (8.4

  57. Slide 57: Results: Investment Banking & Treasury Business Unit

    Results: Investment Banking & Treasury Business Unit (€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Operating Income 406.4 77.8 174.1 137.7 196.5 Net Interest Income 38.6 40.9 38.9 35.3 35.1 Net fee and Commission Income 5.1 4.6 7.9 14.5 5.3 Trading & Other 362.6 32.3 127.3 87.9 156.1 Operating Expe

  58. Slide 58: Results: SE Europe Business Unit

    Results: SE Europe Business Unit (€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Operating Income 64.9 63.9 60.7 65.4 68.8 Net Interest Income 50.1 50.3 49.3 52.0 52.9 Net fee and Commission Income 8.5 8.8 8.0 8.7 8.6 Trading & Other 6.3 4.7 3.5 4.7 7.2 Operating Expenses (90.7) (52.7) (51.8) (59.4)

  59. Slide 59: Results: Other Business Unit

    Results: Other Business Unit (€ mn) Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Operating Income 13.3 17.2 (1.6) 0.2 6.5 Net Interest Income 0.5 0.3 0.2 0.2 1.3 Net fee and Commission Income 0.0 (0.0) (0.1) (0.0) (0.0) Trading & Other 12.8 16.9 (1.7) (0.0) 5.2 Operating Expenses (64.8) (13.7) (14.4) (9.

  60. Slide 60: Glossary (1/2)

    Glossary (1/2) APM Definitions Relevance of the metric Reference number Abbreviation Accumulated Provisions and FV The item corresponds to (i) "the total amount of provision for credit risk that the Group has recognized and derive from contracts with Standard banking 1 LLR adjustments customers", as

  61. Slide 61: Glossary (2/2)

    Glossary (2/2) 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 coverage equals the NPE Total Asset quality me

  62. Slide 62: 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 Manager Deputy Manager Senior Investor Relations Division Investor Relations Division Investor Relations Officer +30 210 326 2271 +30 210 326 2272 +

Alpha Bank — Q4 2020 Earnings Presentation on 6ix