Alpha Bank S.a. · ATHEX:ALPHA
Alpha Bank — Q3 2025 Earnings Presentation
83 slides from Alpha Bank's earnings presentation, Nov 7, 2025
Slide 1: Alpha Bank Q3 2025 Results
Alpha Bank Q3 2025 Results Investor presentation 7th November 2025
Slide 2: Disclaimer
Disclaimer This presentation has been prepared and issued by Alpha Bank S.A. (“Alpha Bank”), solely for informational purposes. It is hereby noted that on 27.6.2025, the merger by absorption of “Alpha Services and Holdings S.A.” by Alpha Bank was completed. References to “Alpha Services and Holdings
Slide 3: Pages
Pages Business Update 3 Financial Performance Financial Performance 15 Alpha Bank Macroeconomic Update Macroeconomic Update 23 PL P&L 25 Balance Sheet Balance Sheet 36 Asset Quality Asset Quality 48 Capital Capital 54 Segmental Information Segmental Information 60 Digital Digital 66 ESG ESG 68 3
Slide 4: 9M 2025 performance reinforces outlook
9M 2025 performance reinforces outlook 9M 2025 Group Results Return on Tangible Equity1 Reported Profit After Tax €704mn +44% y/y 13.9% or 11.9% reported Set strong profitability foundation Normalised Profit After Tax €677mn +2% y/y Net Interest Income €1197mn (4%) y/y Earnings Per Share2 Resilient
Slide 5: Strengthening a pan-European partnership
Strengthening a pan-European partnership Wealth & Asset Impact areas management Wealth & Asset Management >€880m 2024 and YTD 2025 OneMarkets funds distribution 01 Continued roll-out of enhanced Wealth Alpha Bank product palette COMMERCIAL Wholesale PARTNERSHIP €475m Approved syndications 02 Increas
Slide 6: Structural advantages leading to earnings growth
Structural advantages leading to earnings growth Alpha Bank’s structural advantages Outlook for 2027 • Dynamic management of interest rate sensitivity Positioned to absorb rate • Significant potential from structural growth dynamics cuts and grow NII… • Further upside from balance sheet and franchis
Slide 7: EPS expansion to continue across 2025-2027
EPS expansion to continue across 2025-2027 On track to sustain EPS trajectory1 +14%2,3 positive EPS trajectory: 0.52 EPS CAGR in 2024-2027 including buyback effect Buyback effect +14% +10% CAGR +10% EPS CAGR in 2024-2027 Guided EPS CAGR in 2024-2027 excluding buyback effect +10% CAGR Lower gearing t
Slide 8: Significant potential to create and return value to shareholders
Significant potential to create and return value to shareholders 1 Organic RWA expansion in wholesale and retail segments in Greece and Cyprus Organic growth 2 Increasing ordinary payout over 2025-2027 Ordinary payout Capital allocation in A Share buybacks & extraordinary dividends 2025-2027 3 B Bol
Slide 9: Loan growth to remain supportive
Loan growth to remain supportive 1 Corporate loan growth sustainable in the medium term…. 25 • GDP at 201bn in 2024 vs 240bn in 2008, only 1/3 Organic growth (Investment % GDP) of the €100bn capital depletion stock has been 20 recovered • Investment contribution to GDP at 15%, vs 2 15 21% EU average
Slide 10: Delivering revenue diversification
Delivering revenue diversification 1 Consistent growth in Trade Finance and Transaction Banking income Euro mn Organic growth 40 • 8% CAGR with Transaction Banking at 25%, leveraging the partnership with UniCredit 30 +8% CAGR • Continuous growth on increased demand, 20 2 improved offering and compet
Slide 11: Increasing shareholder remuneration
Increasing shareholder remuneration 1 Organic RWA expansion in wholesale and retail segments in Greece and Cyprus Organic growth 2 Increasing ordinary payout over 2025-2027 Ordinary payout • Interim dividend to be paid in December 2025 €111m • Total 2025 distribution ≥ 50% Capital • 2026-2027 distri
Slide 12: Strong strategic fit for bolt-on acquisitions
Strong strategic fit for bolt-on acquisitions… 1 Organic RWA expansion in wholesale and retail segments in Greece and Cyprus Organic growth 2 Increasing ordinary payout over 2025-2027 Ordinary payout Capital allocation in B Bolt-on acquisitions 2025-2027 Fintech factoring platform enhancing our solu
Slide 13: Accretive financial impact and a clear integration plan
…with an accretive financial impact and a clear integration plan 1 Organic RWA expansion in wholesale and retail segments in Greece and Cyprus Organic growth 2 Increasing ordinary payout over 2025-2027 Ordinary payout Capital allocation in B Bolt-on acquisitions 2025-2027 Full Closing EPS ROTE Capit
Slide 14: Investor Day Q2 2026
Investor Day 2026 Investor Day Q2 2026 Stay tuned 14
Slide 15: Pages
Pages Business Update Business Update 3 Financial Performance 15 Alpha Bank Macroeconomic Update Macroeconomic Update 23 PL P&L 25 Balance Sheet Balance Sheet 36 Asset Quality Asset Quality 48 Capital Capital 54 Segmental Information Segmental Information 60 Digital Digital 66 ESG ESG 68 15
Slide 16: Group Profit & Loss Summary
Group Profit & Loss Summary Profit & Loss (€ mn) 9M 2024 9M 2025 Δ% Q2 2025 Q3 2025 Δ% Net Interest Income 1,241 1,197 (4%) 399 402 1% Net fee and commission Income 306 349 14% 122 120 (2%) Trading & Other Income 95 88 (7%) 30 1 (95%) Operating Income 1,641 1,633 0% 551 523 (5%) Total Operating Expe
Slide 17: Q3 25 Group Profit and Loss
Q3 25 Group Profit and Loss (5%) Group, € mn 578 544 559 551 523 Q3 y/y Operating income ▪ Quarterly decline reflecting trading loss on early refinancing Operating Income (4%) of Tier 2 ▪ Net interest income +1% q/q benefiting from lower funding cost. Fee income +7% q/q underlying 0% Operating expen
Slide 18: Q3 Group Balance Sheet
Q3 25 Group Balance Sheet +2% Group, € bn 35.7 34.1 34.5 34.9 Q3 y/y Performing loans 31.6 ▪ €2.2bn net credit expansion in 9M, partially offset by FX +13% Performing loans1 headwinds and NPE portfolio reclassified to Held-For-Sale ▪ Growth fueled by corporates despite FX headwinds +4% 74.2 71.6 Cus
Slide 19: Net interest income and Fees
Net interest income and Fees Interest Income / Interest Expense breakdown Fees Group, € mn Group, € mn 408 406 122 120 395 114 399 402 109 108 32 33 29 38 30 28 Loans PE 475 472 22 32 439 417 410 25 30 5 5 4 5 7 40 42 34 36 29 Bonds 104 107 106 110 110 14 14 13 14 11 Loans NPE 23 22 19 18 15 Q3 24 Q
Slide 20: Performing loans and Customer Funds
Performing loans and Customer Funds Performing loan book expansion Customer Funds evolution Group, € bn Group, € bn YoY +13% +9% +4% +2% 74.2 +1% 0.7 1% 35.7 0.4 +8% 1.6 34.9 71.6 34.5 +23% 34.1 1.8 1.7 1.6 1.6 67.9 21.3 31.6 (4%) 7.2 20.3 1.5 7.3 7.5 7.4 AuMs 18.2 7.6 +18% 25.9 26.6 25.0 25.5 49.7
Slide 21: Asset quality
Asset quality NPE ratio Group % 4.5% NPE ratio target for the 3.7% 3.7% 3.6% year achieved 3.5% 65 57 52 Cost of Risk 12 44 Cost of Risk at 44bp 13 11 9 39 Servicing fees Group, bps 12 8 13 11 10 Securitization expenses reflecting benign 32 42 12 30 16 26 Underlying environment 57% 55% Coverage at 5
Slide 22: Quarterly evolution in Capital
Quarterly evolution in Capital FL CET1 Phased in 16.0% 16.1% % 0.2% 0.7% (0.1%) (0.3%) (0.1%) 0.0% 0.4% Organic Capital Generation 0.0% 15.7% 16.0% 15.8% 15.7% 1 Jun-25 Q3 25 Organic DTA DTC RWAs AT1 coupon other capital Transactions Sep-25 Sep-25 post Sep-25 capital elements dividend pro forma RWAs
Slide 23: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 15 Alpha Bank PL Macroeconomic Update 23 P&L 25 Balance Sheet Balance Sheet 36 Asset Quality Asset Quality 48 Capital Capital 54 Segmental Information Segmental Information 60 Digital Digital 66 ESG ESG 68 23
Slide 24: Resilient real GDP growth, consistently outpacing the euro area
Resilient real GDP growth, consistently outpacing the euro area Growth dynamics in Greece and the euro area Greek Economy Dashboard 6 Unemployment HICP inflation 5 Greece Euro area 8.2% 3% Sep-2025 9m 2025 …from 9.7% in the same month of 2024 …mainly driven by services 4 Travel Receipts Residential
Slide 25: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 15 Alpha Bank Macroeconomic Update Macroeconomic Update 23 P&L 25 Balance Sheet Balance Sheet 36 Asset Quality Asset Quality 48 Capital Capital 54 Segmental Information Segmental Information 60 Digital Digital 66 ESG
Slide 26: Group Profit & Loss Summary
Group Profit & Loss Summary Profit & Loss 9M 9M yoy % Q3 Q2 qoq % Reported Profit After Tax (€ mn) 2025 2024 change 2025 2025 change +12% (36%) Net Interest Income 1,197 1,241 (4%) 402 399 1% €294mn Net fee and commission Income 349 306 14% 120 122 (2%) €223mn €187mn Trading & Other Income 88 95 (7%
Slide 27: Profit & Loss - Detailed
Profit & Loss - Detailed qoq% yoy% (€ mn) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 change change Net Interest Income 408.2 405.7 395.3 399.3 402.2 0.7% (1.5%) Net fee and commission income 108.8 114.4 107.5 121.6 119.7 (1.6%) 10.1% Income from financial operations 17.6 43.5 47.3 7.1 (8.0) … … Other i
Slide 28: Main P&L items
Main P&L items Net Interest Income Net fee and commission income Group, € mn Group, € mn 408 122 120 406 402 114 399 395 109 108 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Recurring operating expenses Cost of Risk1 Group, € mn €mn & bps over net loans 65bps 234 57bps 52bps 211 214 2
Slide 29: Net Interest Income driver headlines
Net Interest Income driver headlines Performing loan spreads3 Deposit costs Individuals Greece, % Deposit beta1 Greece, % Business 24% 24% 22% 22% 18% 3.07% 3.04% 2.99% 2.98% 2.98% Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Term Deposit pass-through2 EUR, % 2.73% 2.66% 70 64% 65% 65% 60% 60 56% 2.56% 50 2.47% 40
Slide 30: Loan and deposit spreads
Loan and deposit spreads Net loan balances & spreads Deposit mix & cost evolution € bn bps, € bn 274 221 201 190 170 278 273 263 256 250 300 % Total 49.7 51.0 50.4 51.3 52.9 41.7 41.0 200 13.7 14.4 39.8 40.2 13.9 14.9 14.3 27% 37.6 100 73% End of 35.9 36.1 36.1 37.6 38.5 quarter balances 0 Q3 24 Q4
Slide 31: Fees
Fees € mn € mn Group Segments 122 120 122 120 114 114 109 108 109 108 32 33 43 36 29 38 35 30 30 44 28 22 32 25 30 38 5 41 33 38 5 4 5 29 7 40 42 34 36 29 37 37 40 29 32 13 14 11 14 14 5 5 5 5 5 0 2 0 1 0 2 0 (1) 0 0 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Business credit related
Slide 32: Costs
Costs € mn € mn Group Segments Cost-Income 39% 41% 36% 39% 41% ratio 234 234 211 214 214 211 214 214 204 204 97 107 100 99 100 92 88 97 94 94 92 49 73 45 42 47 48 80 83 89 16 14 16 16 18 21 20 22 21 23 17 45 45 35 34 16 14 15 15 31 23 15 15 16 11 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 24 Q4 24 Q1 25 Q2 25
Slide 33: Operating Expenses
Operating Expenses Group, € mn Q3 25 Q3 24 yoy % Q3 25 Q2 25 qoq % Recurring Operating Expenses evolution €mn Staff costs (93.9) (92.2) 1.8% (93.9) (97.0) (3.3%) 234 General Administrative 211 214 214 (88.9) (73.3) 21.2% (88.9) (83.1) 6.9% 204 expenses 97 Staff costs Depreciation and 92 97 94 (31.2)
Slide 34: Reported to Normalised
Reported to Normalised Profit & Loss (€ mn) Bridge between reported and normalised profit Q3 2025 Published Delta Normalised Net Interest Income 402 (4) 398 Net fee and commission Income 120 0 120 Trading income (8) 4 (4) Other income 10 0 10 Operating Income 523 523 Staff costs (94) 0 (94) General
Slide 35: Reported to Normalised
Reported to Normalised Bridge between Reported and Normalised Profit - Quarterly (€ mn) Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Reported Profit/ (Loss) after income tax 70 59 111 191 195 121 212 110 167 165 223 294 187 Net Interest Inco
Slide 36: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 15 Alpha Bank Macroeconomic Update Macroeconomic Update 23 PL P&L 25 Balance Sheet 36 Asset Quality Asset Quality 48 Capital Capital 54 Segmental Information Segmental Information 60 Digital Digital 66 ESG ESG 68 36
Slide 37: Q3 2025 Group Balance Sheet Summary
Q3 2025 Group Balance Sheet Summary Balance Sheet Tangible Book Value Sep 2025 Jun 2025 Sep 2024 q/q (€ bn) Group, € bn +11% +1% Total Assets 74.5 73.5 74.6 1.0 7.6 7.5 Securities 17.2 17.2 16.7 (0.1) 7.2 7.0 Cash & Cash Balances 3.5 3.1 4.1 0.4 6.8 Net Loans 41.7 41.0 37.6 0.7 Q3 24 Q4 24 Q1 25 Q2
Slide 38: Balance sheet composition
Balance sheet composition Asset split Liabilities and Equity split € bn € bn 74.5 74.5 73.5 73.5 Cash 3.5 2.3 ECB Cash 3.1 2.5 ECB Due from Banks 2.3 Due from Banks 2.5 4.2 Due to Banks 4.8 Due to Banks Securities 17.2 14.4 Time Deposits Securities 17.2 13.7 Time Deposits 51.3 52.9 37.6 Core Deposit
Slide 39: Business Volumes
Business Volumes (€ mn) Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 % YoY Group Gross Loans 38,318 40,479 40,786 41,687 42,361 10.6% Mortgages 7,065 6,888 6,846 6,744 6,767 (4.2%) Consumer Loans 1,255 1,212 1,197 1,217 1,233 (1.8%) Credit Cards 976 994 943 942 950 (2.7%) Small Business Loans 1,956
Slide 40: Disbursements
Net Credit Expansion trends Net credit expansion Individuals Businesses Greece, € bn 2.0 0.2 Disbursements 1.2 0.7 0.1 0.9 0.2 0.2 0.6 0.2 0.0 3.9 0.1 0.0 0.2 2.9 0.1 2.7 0.2 2.6 2.8 1.7 1.7 1.9 2.4 Repayments (1.6) (1.6) (1.7) (1.9) (1.7) (1.9) (1.7) (1.7) (2.1) (0.2) (0.2) (0.2) (0.2) (0.2) (0.2)
Slide 41: Net credit expansion breakdown
Net credit expansion breakdown Performing loans New disbursements – per category Greece, € bn Greece, € mn Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Beginning of period 36.5 35.9 36.8 38.9 39.1 39.8 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Disbursements 2.1 3.0 4.0 2.5 2.8 3.0 Individuals 123
Slide 42: Loan portfolio breakdown
Loan portfolio breakdown Information Total Group loans – per segment Group Loans portfolio structure1 and € bn € bn Consumer loans Households communication Credit Cards 3% 21% 1% 2% Small Business Loans Financial and insurance activities Administrative 4% 19% and Mortgages support 16% Transportation
Slide 43: Securities portfolio
Securities portfolio Securities portfolio Group, Book value, Sep-25, € bn ▪ The “Other/ECB eligible” bonds of €8.1bn is broken down to the following T-bills Mutual Funds & Equities categories: 0.5 0.4 o/w 15bn • €4.8bn other sovereign bonds HQLAs • €0.9bn bonds issued by supranationals GGBs 17.2bn O
Slide 44: Customer Funds trends
Customer Funds trends Customer Funds evolution Deposit Mix Group, € bn Greece, € bn +9% +4% 49.1 47.4 46.7 47.4 1% 74.2 46.2 71.6 0.7 1% 1% 1% 1.6 0.4 State 1% 67.9 24% 26% 23% 21.3 Time 25% 25% 20.3 AUMS 18.2 76% 75% 52.9 Core 74% 73% 74% Deposits 49.7 51.3 Sep 2024 Jun 2025 Deposits Net Sales Valu
Slide 45: Deposits flow per quarter
Deposits flow per quarter Alpha Bank deposits evolution in Greece Deposits breakdown – September 2025 Greece, € bn Q4: Q1: Q2: Q3: €1.2bn (€0.7bn) €0.7bn €1.7bn Time 1.4 0.9 0.8 49.1 46.2 0.2 1.0 47.4 46.7 47.4 25% (0.1) (0.6) (0.7) Δ Core Δ Time 75% Core Sep-24 Core Time Dec-24 Core Time Mar-25 Cor
Slide 46: 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% 3% 4% 4% 3% 3% 203% 190% 194% 194% 194% Total Assets 13.0 ECB Collateral pledged ▪ Credit claims LCR ▪ Other bonds LDR 9.0 78% 80% 80% 79% 76% 12.2 5.0 5.0 5.0 11.2 11.2 4.0 4.0 Commercial 1
Slide 47: Wealth management
Wealth management Asset Management balances Private Banking Group, € bn Group, € bn 8.7 21.3 8.5 8.5 20.3 8.9 8.1 19.3 0.4 7.9 18.5 Money Market 2.0 18.2 2.5 1.8 2.1 3rd-party 1.7 1.9 8.9 8.3 Alpha Asset 7.6 6.1 6.8 7.3 Management 2.2 2.3 2.4 2.4 2.6 2.8 3.0 2.9 0% Mkt 3.4 3.2 15% MM Share Equity 2.
Slide 48: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 15 Macroeconomic Update Alpha Bank PL Macroeconomic Update 23 P&L 25 Balance Sheet Balance Sheet 36 Asset Quality 48 Capital Capital 54 Segmental Information Segmental Information 60 Digital Digital 66 ESG ESG 68 48
Slide 49: NPE flows and Cost of Risk trends
NPE flows and Cost of Risk trends NPE 0.0 (0.0) 0.0 0.1 0.1 Cost of Risk formation bps (over net loans) Greece, € bn 65 57 12 52 0.19 0.20 0.20 13 0.18 Inflows 11 9 44 0.14 39 8 12 13 11 10 Cures & 12 (0.09) (0.10) (0.09) 42 (0.12) repayments (0.16) 32 30 CPs 26 (0.02) (0.02) & write offs 16 (0.02)
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 334 80 170 70 8 32 102 84 76 7 (10) (4) (29) (11) (5) (38) (155) (186) (192) (254) (284) (353) (461) (994) 2018 2019 2020 2021 2022 2023 2024 Q3 Q4 Q1
Slide 51: Auctions and repossession activity evolution
Auctions and repossession activity evolution Auctioned properties (Conducted) 3Q2025 1.729 1.344 749 ▪ The auction process continues to exhibit a downward trend. During 236 190 3Q2025, the volume of conducted auctions declined significantly, 199 191 26% 85 33% 40% 23% 30% 21% largely reflecting the
Slide 52: Detailed overview of asset quality by portfolio - Greece
Detailed overview of asset quality by portfolio - Greece (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 30.4 1.8 6.1 2.1 40.4 (-) Accumulated Provisions (0.2) (0.2) (0.3) (0.1) (0.8) Net loans 30.3 1.6 5.8 2.0 39.7 NPLs 0.1 0.2 0.5 0.1 0.9 NPL ratio 0.3% 11.5% 7.7% 7.1% 2.3% NPEs 0.2 0.3
Slide 53: Detailed overview of asset quality by portfolio - Group
Detailed overview of asset quality by portfolio - Group (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 31.6 1.8 6.8 2.2 42.4 (-) Accumulated Provisions (0.2) (0.2) (0.3) (0.1) (0.8) Net loans 31.4 1.7 6.5 2.0 41.5 NPLs 0.1 0.2 0.5 0.2 1.0 NPL ratio 0.4% 11.5% 7.7% 7.1% 2.4% NPEs 0.3 0.3 0
Slide 54: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 15 Alpha Bank Macroeconomic Update Macroeconomic Update 23 PL P&L 25 Balance Sheet Balance Sheet 36 Asset Quality Asset Quality 48 Capital 54 Segmental Information Segmental Information 60 Digital Digital 66 ESG ESG
Slide 55: Quarterly evolution in Capital
Quarterly evolution in Capital FL CET1 q/q % 0.7% 0.2% (0.1%) (0.3%) (0.1%) 0.0% 0.0% 15.7% 16.0% 15.7% 15.8% 0.4% Organic Capital Generation Jun-25 Q3 25 Organic DTA DTC RWAs AT1 coupon other capital Transactions Sep-25 Sep-25 post Sep-25 1 capital elements dividend pro forma accrual RWAs q/q % €0.
Slide 56: Actuals and regulatory requirements
Actuals and regulatory requirements 30.2% 27.3% 21.2% 18.0% 15.8% 14.7% 30.2% 0.8% 27.3% 11.9% 2.0% CCyB 9.9% 0.6% 1.5% 21.2% 0.2% P2R 1.7% 18.0% 1.0% 15.8% O-S II 2.5% CCB Pillar 1 4.5% 1 1 1 1 Q3 2025 CET1 Q3 2025 CET1 Q3 2025 T1 Q3 2025 T1 Q3 2025 OCR Q3 2025 CAD 30.09.2025 MREL Q3 2025 MREL Requ
Slide 57: Regulatory Capital composition
Regulatory Capital composition Equity to regulatory capital bridge € mn 10.3% Tangible book value / Tangible Assets 8,023 7,595 (428) 1,004 6,664 700 5,659 (1,895) (102) 4,959 (638) Ordinary Intangibles Tangible DTA deduction DTC Other CET1 AT1 & Hybrids Tier 1 Lower Tier II Total CAD Equity Book Va
Slide 58: Group RWAs and Regulatory Capital
Group RWAs and Regulatory Capital Group Risk Weighted Assets evolution Credit Risk Weights per portfolio € bn % €0.39bn 100% 31.3 0.5 (0.1) 31.7 44% 45% 3.6 0.0 3.6 0.5 0.4 Performing Net NPE Total Loan Portfolio RWA Density 27.2 27.7 DTA & Tax Credit with CET1 Capital € bn CET1 5.0 5.0 2.9 2.9 Jun
Slide 59: Further progress towards meeting MREL Requirements
Further progress towards meeting MREL Requirements +2.96% ▪ No subordinated MREL requirement surplus 30.24% ▪ Expect Alpha Bank to continue to be a regular issuer in the debt capital markets 0.45% 27.28% 3.71% 8.09% ▪ MREL ratio as of 30.09.2025 stands at 28.3%, well above the final MREL binding tar
Slide 60: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 15 Macroeconomic Update Alpha Bank PL Macroeconomic Update 23 P&L 25 Balance Sheet Balance Sheet 36 Asset Quality Asset Quality 48 Capital Capital 54 Segmental Information 60 Digital Digital 66 ESG ESG 68 60
Slide 61: Retail
Retail Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) 9M 25 9M 24 ∆difference, % (€55mn) €0.7bn Net loans 8,896 9,178 (3%) Revenues y/y Deposits y/y Deposits 35,094 34,348 2% (€43mn) +0.5mn (0.3bn) Total revenues 545 600 (9%) Profits3 y/y Net Loans y/y Recurring Operating (293) (300) (2%) exp
Slide 62: Wholesale
Wholesale Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) 9M 25 9M 24 9M 25 +€52mn €1.5bn Net loans 29,335 25,025 17% Revenues y/y Deposits y/y Deposits 11,191 9,654 16% +€33mn €4.3bn Total revenues 710 658 8% Profits3 y/y Net Loans y/y Recurring Operating (137) (130) 5% expenses Normalised Pr
Slide 63: Wealth
Wealth Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) 9M 25 9M 24 ∆difference, % +€33mn €2.2bn Assets under 21,338 18,200 17% Revenues y/y Mutual Funds y/y Management Total revenues 131 98 33% +€17mn €1bn Recurring Operating (50) (40) 25% Profits3 y/y Other AUMs y/y expenses Normalised Profit
Slide 64: International
International Key figures REVENUES / VOLUMES PROFITABILITY (in €mm) 9M 25 9M 24 ∆difference, % (€5mn) €0.3bn Net loans 1,796 1,617 11% Revenues y/y Deposits y/y Deposits 3,773 3,510 7% (€27mn) €0.2bn Total revenues 112 117 (4%) Profits y/y Net Loans y/y Recurring Operating (66) (58) 15% expenses Nor
Slide 65: NPAs and Corporate Center
NPAs and Corporate Center Non Performing Assets (NPAs) Corporate Center (in €mm) 9M 25 9M 24 ∆difference, % (in €mm) 9M 25 9M 24 ∆difference, % Net loans 1,056 1,251 (16%) Assets 20,805 20,079 4% Assets 2,069 3,110 (33%) TBV 1,365 1,612 (15%) Total revenues 27 37 (26%) Total revenues 109 130 (17%) R
Slide 66: Pages
Pages Business Update Business Update 3 Financial Performance Financial Performance 15 Alpha Bank Macroeconomic Update Macroeconomic Update 23 PL P&L 25 Balance Sheet Balance Sheet 36 Asset Quality Asset Quality 48 Capital Capital 54 Segmental Information Segmental Information 60 Digital 66 ESG ESG
Slide 67: Continuous improvement in key digital metrics
Continuous improvement in key digital metrics 9m ’25 Key Achievements Investor Day KPIs +29% Increase in Mobile Transactions YoY 2023 2024 9m/2025 2025 Target +26% Digital Sales Items in 9m YoY (30% of total sales) Digital Sales 23% 27% 30% 30% 4 out of 5 Consumer Loans digitally Daily Banking 37% o
Slide 68: Alpha Bank
Pages Business Update Business Update 3 Financial Performance Financial Performance 15 Macroeconomic Update Alpha Bank PL Macroeconomic Update 23 P&L 25 Balance Sheet Balance Sheet 36 Asset Quality Asset Quality 48 Capital Capital 54 Segmental Information Segmental Information 60 Digital Digital 66
Slide 69: Accelerating our journey to Net Zero
Accelerating our journey to Net Zero 2019 - 2022 2023 2024 2025- Scale up Set the foundations Fully embed Set sustainable finance for our sustainability sustainability into science-based to achieve full Strategy our Business Plan net-zero targets potential 2019 UNEP FI signatory and adoption 2023 Fi
Slide 70: Our strategy for a resilient, net-zero economy by 2050
Our strategy for a resilient, net-zero economy by 2050 Setting Science-Based Targets for selected material-impact sectors, including Transition Pathways to support corporate clients to meet the Bank’s climate targets Sustainable Finance Framework & Green Bond Framework lay the groundwork for sustain
Slide 71: Financed emissions targets set on 4 sectors in Nov 2024 (1/2)
Financed emissions targets set on 4 sectors in Nov 2024 (1/2) Alpha Bank commitment 2030 targets Impact Next Steps Alpha Bank has set out an The Bank has set 2030 The targets for these The Bank is developing a transition plan ambition to support the transition financed emissions targets sectors deca
Slide 72: Financed emissions targets set on 4 sectors in Nov 2024 (2/2)
Financed emissions targets set on 4 sectors in Nov 2024 (2/2) Sector Baseline 2030 target xx% Percent reduction from 2022 to 2030 IEA NZE1 186 Power scope 1, kgCO2e / MWh 223 -41% 132 IEA NZE1 77 Oil & Gas scope 1+2, indexed to 2022 = 100 -26% 100 74 IEA NZE1 Cement 465 scope 1+2, kgCO2e / t Cement
Slide 73: Our Sustainable Finance Framework as an enabler
Our Sustainable Finance Framework as an enabler in our Sustainability Strategy Resource efficiency Energy Efficiency Green Buildings Renewable Energy Sustainable Transport and pollution control Green Loan • Transmission and Distribution • Construction/ Purchase of new • Generation of electricity fro
Slide 74: Best-practice Climate & Environmental Risk Management
Best-practice Climate & Environmental Risk Management embedded in credit decisions and loan pricing ESG Assessment of all Clients Transaction Assessment • Assessment via interbank ESG questionnaire since 2023 • Assesses Environmental and Social impact of specific economic activity to be financed • S
Slide 75: Our Green Bond Framework
Our Green Bond Framework outlines the commitment to supporting sustainable development through green financing • A clear and transparent roadmap for how the Bank intends to channel capital USE OF PROCEEDS into projects that advance environmental goals. • Eligible Green Loan Categories: Green Loans,
Slide 76: Sustainability highlights: Delivering tangible results
Sustainability highlights: Delivering tangible results1 Support an Foster healthy Ensure robust environmentally economies & transparent sustainable Economy & Societal progress Governance € 2.9 billion 86% 33% Women for Sustainable Disbursements since 2024 of the Group’s branches are accessible at Bo
Slide 77: Recognition of our commitment to Sustainability
Recognition of our commitment to Sustainability Rating Performance Decile Rank C 52.05 3 We have submitted οur Memberships first Communication on Progress (CoP) to the Trend Transparency Prime Status UN Global Compact Very High Prime NEGL LOW HIGH MED SEVERE 0-10 10-20 20-30 30-40 40+ 2023 2025 2023
Slide 78: Glossary (1/5)
Glossary (1/5) 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 79: Glossary (2/5)
Glossary (2/5) Reference Relevance of the Terms Definitions Abbreviation number metric Sum of Impairment losses of fixed assets and equity investments ,Gains/(Losses) on disposal of fixed assets and equity investments and o/w Impairments & Gains/(Losses) on Impairment losses, provisions to cover cre
Slide 80: Glossary (3/5)
Glossary (3/5) Reference Terms Definitions Relevance of the metric Abbreviation number 33 Non Performing Loan ratio NPLs (35) divided by Gross Loans (12) at the end of the reference period. Asset quality metric NPL ratio Non Performing Loan Total Accumulated Provisions and FV adjustments (1) plus th
Slide 81: Glossary (4/5)
Glossary (4/5) Reference Terms Definitions Relevance of the metric Abbreviation number 42 Pre-Provision Income Operating Income (37) for the period less Total Operating Expenses (59) for the period. Profitability metric PPI 43 Profit/ (Loss) before income tax Operating Income (37) for the period les
Slide 82: Glossary (5/5)
Glossary (5/5) Reference Terms Definitions Relevance of the metric Abbreviation number Standard banking 54 Securities Sum of Investment securities and Trading securities, as defined in the consolidated Balance Sheet of the reported period. terminology Tangible Book Value or Tangible Total Equity exc
Slide 83: Alpha Bank Contacts
Alpha Bank Contacts Vasileios Kosmas CFO +30 210 326 2291 vgk-cfo-office@alpha.gr Iason Kepaptsoglou Stella Traka Selini Milioni Director Manager Senior Specialist Investor Relations Division Investor Relations Division Investor Relations Division +30 210 326 2271 +30 210 326 2274 +30 210 326 2273 i