Alpha Bank S.a. · ATHEX:ALPHA
Alpha Bank — FY 2021 Earnings Presentation
68 slides from Alpha Bank's earnings presentation, Mar 14, 2022
Slide 1: Alpha Bank FY 2021 Results
Alpha Bank FY 2021 Results Investor Presentation March 14th, 2022
Slide 2: Disclaimer
Disclaimer Systemic bank established in 1879 This presentation has been prepared 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 name (former) “Alph
Slide 3: Pages
Pages • Business update 3 • Financial Performance Analysis 11 Alpha Bank • Appendix ▪ Macroeconomic Update 23 ▪ P&L 27 ▪ Volumes 32 ▪ Asset Quality 40 ▪ Capital 46 ▪ ESG 52 ▪ Segment information 56 3
Slide 4: Prevailing tailwinds offsetting emerging headwinds
Prevailing tailwinds offsetting emerging headwinds 12% Much of the damage suffered during the first year of the pandemic has 8% been recouped in 2021, thanks to: 4% • a remarkable recovery of tourism 0% • a strong increase of private consumption, supported by the sharp -4% increase in savings accumu
Slide 5: Exposure to Russia/Ukraine is immaterial
Exposure to Russia/Ukraine is immaterial Exposures to Russia/Ukraine Group, € mn % out of 0.05% 0.18% Group total ▪ Direct exposure to Russia/Ukraine is minimal €84mn ▪ No exposure to securities ▪ Alpha Bank Greece exposure limited to €0.4mn in low LTV mortgages ▪ Alpha Bank Cyprus €29.4mn exposure
Slide 6: In 2021 we concluded our restructuring, shifting gear to growth
In 2021 we concluded our restructuring, shifting gear to growth Conclusion of restructuring ✓ Positioning for future Entering Tomorrow ✓ Hive down ✓ Growth capital raise ✓ Strategic partnerships • € 0.8bn capital raise concluded in • Binding agreement with Nexi S.p.A. to • Successful conclusion of d
Slide 7: Business Banking net credit expansion to accelerate in 2022
Business Banking net credit expansion to accelerate in 2022 Landmark transactions Business Banking - Net Credit Expansion Already €1.3bn Greece, €bn +38% Gross New Disbursements in Corporate Finance 2022 0.6 2.2 Egantia Motorway DEPA Infrastructure Privatisation Privatisation 0.5 1.6 0.2 35 year con
Slide 8: NPE target delivered through frontloaded execution of major NPE transactions
NPE target delivered through frontloaded execution of major NPE transactions in 2021 with <20% remaining for 2022 Cosmos Orbit Sky Solar Other transactions NPE GBV €3.4bn1 €1.3bn €2.2bn €0.4bn €1.1bn Greek NPE Greek NPE Selected Wholesale, Greek NPE Cyprus NPE common SME Description securitization S
Slide 9: Continuous progress on business development and capital generation
Continuous progress on business development and capital generation • Binding agreement with Nexi S.p.A. to form long-term partnership on November 10th, 2021 Prometheus • Strategic partnership with EU payments leader offers unique proposition with high growth prospects in rapidly evolving Description
Slide 10: We are focused on delivering on our targets
We are focused on delivering on our targets 2022 priorities and targets Revenues Loan growth • Target: Core banking income1: >€1.5bn • Target: 2x net credit expansion vs 2021 • Pick-up in fee income in 2021 expected to • Encouraging pick-up in activity and demand in the continue and partially offset
Slide 11: Pages
Pages • Business update 3 • Financial Performance Analysis 11 Alpha Bank • Appendix ▪ Macroeconomic Update 23 ▪ P&L 27 ▪ Volumes 32 ▪ Asset Quality 40 ▪ Capital 46 ▪ ESG 52 ▪ Segment information 56 11
Slide 12: FY 2021 Group P&L and Balance Sheet
FY 2021 Group P&L and Balance Sheet Normalised Profit After Tax3 Profit & Loss FY FY1 yoy % Q4 Q31 qoq % (€ mn) 2021 2020 change 2021 2021 change €330mn Net Interest Income 1,376 1,527 (10%) 298 315 (5%) Net fee and commission Income 400 332 21% 104 108 (4%) Trading Income 143 689 … 25 27 … €87mn Ot
Slide 13: Performing loans up 2% y/y; further acceleration expected in 2022
Performing loans up 2% y/y; further acceleration expected in 2022 Spread of new FY 21 New disbursements PE Lending spreads over Gross loans production1at 390bps Greece, €bn Greece, bps 1.6 5.4 Businesses 0.1 0.4 389 389 381 1.5 376 Individuals 1.5 370 0.1 359 356 352 353 349 1.2 1.4 5.0 0.1 1.1 1.0
Slide 14: Mix shift towards core deposits continues
Mix shift towards core deposits continues; €0.8bn of inflows in Greece Deposits evolution Mix towards Core deposits Group, € bn YoY Greece, € bn +€3.7bn QoQ + €1.0bn 40.7 41.6 0.2 47.0 39.3 2% 2% 0.6 0.2 38.0 46.0 2% State 3% 16% 43.3 18% 5.4 20% 5.2 1 Term 26% International 5.3 Customer deposit inf
Slide 15: Net interest income mainly affected by NPE clean up and funding costs
Net interest income mainly affected by NPE clean up and funding costs Group, € mn Q4 2021 / Q3 2021 Comments Reported in Q3 21 318.5 Corporate loan in Cyprus (6.8) • Higher income due to restructuring of a large corporate loan in Cyprus in Q3 AB Albania (3.9) • Restatement due to sale of AB Albania
Slide 16: Higher loan growth and pick-up in economic activity drive fee growth
Higher loan growth and pick-up in economic activity drive fee growth Group, € mn Q4 2021 / Q3 2021 FY 2021 / FY 2020 Comments Q3 21 NCI FY 20 108.4 331.9 Reported NCI • €10mn one-off benefit booked in Q2 21 related to early termination of previous bancassurance agreement one-off (1.8) • €11.8mn non-
Slide 17: Q4 cost base impacted by seasonality; FY 21 target met
Q4 cost base impacted by seasonality; FY 21 target met Group, € mn Q4 2021 / Q3 2021 FY 2021 / FY 2020 Comments Q3 21 FY 20 239 1,023 Recurring Recurring Staff costs 2 Staff costs (28) • Staff costs: Q4 impacted by seasonality G&A 18 G&A 8 • G&A: higher 3rd party, taxes and marketing expenses D&A 3
Slide 18: Majority of cost savings already secured
Majority of cost savings already secured Cost savings already locked in One-off items breakdown € mn, annualised impact € mn 132 One-offs Q4 21 FY 21 • VSS: >550 FTEs participated in VSS launched in Q4 21; cost VSS 24 of €97.2mn frontloaded in Q1 21; benefit fully captured in 2022 HR VSS - 98 Impair
Slide 19: Formation in 2021 better than originally targeted
Formation in 2021 better than originally targeted NPE organic formation CoR driven by Transaction costs and COVID Greece, € bn % over net loans 2022E 5.8% 4.8% 5.0% Gross NPE (0.0) 0.0 0.0 0.3% (0.0) 0.1 (0.5) 3.2% 4.0% 0.3% Servicing fees formation € bn Transaction costs 0.6 3.2% 3.9% 3.7% Underlyi
Slide 20: Underlying CoR at 70bps in 2022; single digit NPE ratio from Q2
Underlying CoR at 70bps in 2022; single digit NPE ratio from Q2 NPE ratio (Group) 43% 13% ~7% NPL ratio (Group) 30% 6% ~5% ▪ Significant improvement in the Group NPEs, €bn 20.9 actual NPE ratio delivered Group NPEs, €bn 5.1 1.5 3.7 1.7 FNPL<90dpd 5.1 NPLs incl. (15.7) (0.1) 1.9 FNPL>90 2.9 Dec-21 20
Slide 21: FL CET1 to surpass our 13% target in 2023
FL CET1 to surpass our 13% target in 2023 Fully Loaded CET1 1.6% 15.1% % 1.0% 13.5% 0.6% 12.5% 12.2% 0.1% 11.8% 0.1% (0.2%) (0.1%) 11.3% (0.7%) FL B3 CET1 Sep-21 pf Q4 21 FVOCI Other 2021 FY 2021 pf FY 2021 pf 2022 trx & 2022 FY 2022 2023 FY 2023 2024 FY 2024 Cosmos organic PnL Capital Transactions1
Slide 22: Outlook for 2022
Outlook for 2022 2020 2021 2022E • Acceleration of NPA clean-up frontloading NII reduction with positive overall P&L NII € 1.5bn € 1.4bn >€ 1.15bn impact; transitory headwind from increased liquidity Sound and profitable • Growth in Business credit related fees and Asset Management offsetting loss o
Slide 23: Pages
Pages • Business update 3 • Financial Performance Analysis 11 Alpha Bank • Appendix ▪ Macroeconomic Update 23 ▪ P&L 27 ▪ Volumes 32 ▪ Asset Quality 40 ▪ Capital 46 ▪ ESG 52 ▪ Segment information 56 23
Slide 24: Large-scale economic rebound in 2021
A large-scale economic rebound in 2021, while, economic activity in the current year remains on an upward trajectory but moderated due to heightened geopolitical risks. Overperformance of private consumption and exports of Real GDP expanded by 7.7% y-o-y in Q4 2021, while, on a services along with i
Slide 25: Economic sentiment and fiscal stabilization improved
The day before the invasion in Ukraine: economic sentiment and fiscal stabilization improved Economic Sentiment recorded its highest value since 2000 Primary expenditure, total revenues and VAT revenues of general government 125 120 60% Feb-22:114.0 115 40% 110 105 20% 100 Oct-00: 114.6 0% 95 90 -20
Slide 26: Tracing the economic implications of geopolitics on the Greek economy
Tracing the economic implications of geopolitics on the Greek economy Share of gas imported from Russia, % 2020 Inflationary expectations remain elevated, paving the way for further price increases from price-setters 80 100 90 60 80 40 70 EU average 20 60 0 50 40 -20 30 -40 Mar-20 Mar-19 Apr-19 May-
Slide 27: Pages
Pages • Business update 3 • Financial Performance Analysis 11 Alpha Bank • Appendix ▪ Macroeconomic Update 23 ▪ P&L 27 ▪ Volumes 32 ▪ Asset Quality 40 ▪ Capital 46 ▪ ESG 52 ▪ Segment information 56 27
Slide 28: Loan and deposit spreads
Loan and deposit spreads Net loan balances & spreads Deposit mix & cost evolution € bn € bn, bps (51) (51) (50) (50) (52) 398 397 392 374 363 45.0 46.5 47.0 % Total 43.8 43.6 39.4 39.4 9.8 13.7 12.3 11.2 10.5 37.5 36.9 End of 36.0 21% quarter 30.1 31.3 33.9 36.1 37.1 balances 79% Q4 20 Q1 21 Q2 21 Q
Slide 29: NII and Net Fee and Commission income decomposition
NII and Net Fee and Commission income decomposition NII decomposition1 Net Fee and Commission income decomposition1 € mn € mn 384 396 108 367 104 104 28 38 25 315 298 24 29 23 39 83 83 31 23 24 15 15 22 4 382 15 4 372 12 13 394 317 4 5 314 43 34 34 28 27 15 17 18 21 42 14 6 26 16 12 (54) (55) (56) (
Slide 30: Operating Expenses
Operating Expenses1 € mn FY 20 FY 21 yoy % Recurring OPEX evolution1 €mn Staff costs (428.7) (400.4) (6.6%) Depreciation & General Administrative 270 amortisation (442.6) (450.3) 1.7% 255 253 262 expenses 39 239 42 37 40 Depreciation and 37 General (152.1) (157.1) 3.3% administrative amortisation 11
Slide 31: Alpha Bank Group
Alpha Bank Group1 qoq% (€ mn) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 yoy % change change Net interest income 297.8 314.5 367.3 396.3 384.5 (5.3%) (22.5%) Net fee and commission income 104.3 108.4 104.3 83.3 82.8 (3.8%) 25.9% Income from financial operations 24.7 26.5 30.5 60.8 430.2 (6.8%) (94.3%)
Slide 32: Pages
Pages • Business update 3 • Financial Performance Analysis 11 Alpha Bank • Appendix ▪ Macroeconomic Update 23 ▪ P&L 27 ▪ Volumes 32 ▪ Asset Quality 40 ▪ Capital 46 ▪ ESG 52 ▪ Segment information 56 32
Slide 33: Balance sheet composition
Balance sheet composition Asset split Liabilities and Equity split € bn 73.4 € bn 73.1 73.4 73.1 11.8 13.0 ECB 13.0 ECB Cash 11.4 Cash Due from Banks Due from Banks Due to Banks Due to Banks 3.2 3.0 1.4 1.0 excl. ECB excl. ECB Securities Securities 10.5 Time 9.8 Time 10.9 10.6 deposits deposits 46.6
Slide 34: Deposits flow per quarter
Deposits flow per quarter Alpha Bank deposits evolution in Greece Deposits breakdown – December 2021 € bn Q1: Q2: Q3: Q4: (€0.1bn) €1.4bn €1.4bn €0.8bn 2.0 1.3 41.6 Time 1.2 2.4 39.3 40.7 38.0 37.9 18% (0.5) Δ Time (1.3) (1.0) (0.6) Δ Core Core 82% Dec-20 Core Time Mar-21 Core Time Jun-21 Core Time
Slide 35: Securities portfolio breakdown
Securities portfolio breakdown Securities portfolio breakdown Book value, Dec-21, € bn ▪ The “Other/ECB eligible” bonds of €4.4bn is broken down to the following T-bills Mutual Funds & Equities categories: 0.7 0.3 • €2.2bn other sovereign bonds • €0.3bn bonds issued by supranationals Other/ECB eligi
Slide 36: Business Volumes
Business Volumes (€ mn) Dec 2021 Sep 2021 Jun 2021 Mar 2021 Dec 2020 % YoY Group Gross Loans 39,201 40,646 43,533 49,785 49,130 (20.2%) Mortgages 9,503 10,824 12,679 16,929 17,008 (44.1%) Consumer Loans 1,780 2,871 3,254 4,131 4,187 (57.5%) Credit Cards 1,010 1,194 1,162 1,170 1,257 (19.6%) Small Bu
Slide 37: Breakdown of loans portfolio – December 2021
Breakdown of loans portfolio – December 2021 Total Group loans – per segment Group Loans portfolio structure € bn € bn Consumer loans SBLs Other 5% 6% 19% Credit Cards Mortgages Manufacturing 3% 23% 11% Trade €39.2bn Households €39.26bn 10% 31% Transportation 9% Media & Communication Tourism 1% Whol
Slide 38: New disbursements of €1.6bn in Q4 2021
New disbursements of €1.6bn in Q4 2021 New disbursements – per category Q4 2021 Business disbursements – per sector € mn Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 20 20 20 20 20 21 21 21 21 21 Real Estate Individuals 64 84 87 82 318 60 122 107 133 422 Tourism 5% 5% Other Business 1,575 938 1,462 1,325 5,299 1,0
Slide 39: Wealth management evolution
Wealth management evolution Alpha Private Bank balances Asset Management balances € mn € mn +41% +11% 3.1 5.0 5.1 2.9 4.8 4.9 2.8 4.6 2.4 1.2 1.2 1.2 1.2 2.2 1.1 2.1 2.3 2.0 1.7 1.5 3.0 3.0 3.0 2.9 2.9 0.7 0.7 0.7 0.7 0.7 0.6 0.7 0.7 0.8 0.8 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Dec-20 Mar-21 Jun-21 Se
Slide 40: Pages
Pages • Business update 3 • Financial Performance Analysis 11 Alpha Bank • Appendix ▪ Macroeconomic Update 23 ▪ P&L 27 ▪ Volumes 32 ▪ Asset Quality 40 ▪ Capital 46 ▪ ESG 52 ▪ Segment information 56 40
Slide 41: 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 80 158 101 35 3 72 (7) (63) (80) (97) (71) (186) (192) (617) (461) (994) 2018 2019 2020 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 2018 2019 2020 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Gros
Slide 42: Auctions and repossession activity evolution
Auctions and repossession activity evolution Auctioned properties (Conducted) per quarter 1.782 No conducted No conducted 789 775 auctions auctions due to Covid-19 558 due to Covid-19 525 412 374 40% 146 42% 41% 0 0 37 53 40% 31% 36% 34% 37% 0% 0% 65% 38% Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2
Slide 43: Asset quality by portfolio - Greece
Detailed overview of Alpha Bank’s asset quality by portfolio - Greece (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 22.8 2.3 7.6 2.5 35.1 (-) Accumulated Provisions (1.2) (0.3) (0.3) (0.3) (2.2) Net loans 21.6 2.0 7.3 2.1 33.0 NPLs 1.0 0.4 0.5 0.4 2.3 NPL ratio 4.5% 17.1% 6.4% 14.8% 6.4%
Slide 44: Asset quality by portfolio - Group
Detailed overview of Alpha Bank’s asset quality by portfolio - Group (€ bn) Wholesale SBL Mortgages Consumer Total Gross loans 24.6 2.3 9.5 2.8 39.2 (-) Accumulated Provisions (1.3) (0.3) (0.3) (0.4) (2.4) Net loans 23.2 2.0 9.2 2.4 36.8 NPLs 1.1 0.4 0.5 0.4 2.4 NPL ratio 4.4% 17.0% 5.6% 14.5% 6.2%
Slide 45: 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 Sky” €2.2bn Q3 2022 ✓ Cyprus NPE portfolio sale “Project Orbit” €1.3bn Q1 2022 ✓ Greek NPE portfolio sale “Project Cosmos” €3.4bn1 Q4 2021 ✓ Greek NPE securitisation under HAPS II
Slide 46: Pages
Pages • Business update 3 • Financial Performance Analysis 11 Alpha Bank • Appendix ▪ Macroeconomic Update 23 ▪ P&L 27 ▪ Volumes 32 ▪ Asset Quality 40 ▪ Capital 46 ▪ ESG 52 ▪ Segment information 56 46
Slide 47: Quarterly evolution in Capital
Quarterly evolution in Capital Transitional % CAD 17.2% 0.07% 16.7% 16.1% (0.2%) (0.1%) (0.91%) 14.4% 13.7% CET1 13.2% Total Capital ratio Q4 21 FVOCI Other Capital elements Transactions1 Total Capital ratio pf Orbit, Sky & Riviera Sep-21 pf Cosmos organic PnL Dec-21 RWA relief Fully Loaded % CAD 15
Slide 48: Regulatory Capital and Capital Requirements
Regulatory Capital and Capital Requirements Equity to regulatory capital bridge Overall Capital Requirements € mn % 14.3% 7.6% Tangible book value / Tangible Assets 0.8% O-S II 2.5% 11.0% Composed by CCB Composed CET 1 (1.7%) P2R 3.0% entirely by 3.0% AT1 (0.55%) CET 1 Tier 2 (0.75%) 6,030 5,551 5,6
Slide 49: Group RWAs and Regulatory Capital
Group RWAs and Regulatory Capital Group Risk Weighted Assets Credit Risk Weights per portfolio € bn % (€0.1bn) 35.3 38.4 99% 0.0 1.4 3.2 1.4 3.0 59% 63% (2.9) (0.2) 33.8 31.0 Performing Net NPE Total Loan Portfolio Sep-21 Credit Market Operational Dec-21 RWA Density Credit Market Operational Transit
Slide 50: MREL Requirements
MREL Requirements ▪ MREL target was communicated in April 2021 and is in line with Group’s expectations Interim MREL Target 22.76% of RWAs1. 17.6% ▪ Extended transitional period until 1 January 2026 in order to reach the final MREL 17.27% 0.28% surplus 2.60% target (in line with the Greek banking sy
Slide 51: Corporate structure: minimal differences with figures expected to converge
Corporate structure: minimal differences with figures expected to converge Alpha Alpha Alpha Balance Sheet1 Alpha Capital Bank Services and Holdings Bank (€ bn) Services and Holdings Group (%) Group Group Group Cash 11.8 11.8 CET1 ratio 13.2% 13.0% Due from banks 3.0 3.0 Tier 1 ratio 13.2% 13.0% CAD
Slide 52: Pages
Pages • Business update 3 • Financial Performance Analysis 11 Alpha Bank • Appendix ▪ Macroeconomic Update 23 ▪ P&L 27 ▪ Volumes 32 ▪ Asset Quality 40 ▪ Capital 46 ▪ ESG 52 ▪ Segment information 56 52
Slide 53: Positive trend in Alpha Bank's ESG scores
Positive trend in Alpha Bank’s ESG scores 2015 2016 2017 2018 2019 2020 2021 MSCI ESG Rating B B BB BBB A ΑΑ AA (scale CCC-AAA) FTSE4Good Emerging Index 🗸 🗸 🗸 🗸 🗸 🗸 Environment: 2 Environment: 1 Environment: 1 Environment: 1 ISS ESG Quality Score Social: 2 Social: 2 Social: 2 Social: 2 (score…
Slide 54: We aim to achieve a leading ESG position across all focus areas
We aim to achieve a leading ESG position across all focus areas Focus Area Q1 2022 Q2 2022 Q3 2022 Q4 2022 ▪ Implement ECB Climate Risk ▪ Integrate ESG criteria into all lending operations Regulatory ▪ Complete ECB Climate Risk Stress Tests Management guidelines ▪ Comply with 2023 disclosure regulat
Slide 55: New ESG governance demonstrates commitment to sustainability
New ESG governance demonstrates commitment to sustainability 1 Board of Directors ESG Governance structure Audit Committee ▪1 Board committees’ charters amended to ensure all 2 Risk Corporate Governance, Remuneration ESG are addressed by the relevant committee Management Nomination & Committee Commi
Slide 56: Pages
Pages • Business update 3 • Financial Performance Analysis 11 Alpha Bank • Appendix ▪ Macroeconomic Update 23 ▪ P&L 27 ▪ Volumes 32 ▪ Asset Quality 40 ▪ Capital 46 ▪ ESG 52 ▪ Segment information 56 56
Slide 57: SEE Operations
SEE Operations 1,2 € mn Δ% Δ% Δ% Dec-21 Romania yoy Cyprus yoy Total SEE yoy Deposits 2,684 1.5% 2,214 7.1% 4,897 4.0% Gross Loans 2,729 3.3% 905 (72.3%) 3,634 (38.6%) Mortgages 1,341 7.3% 556 (68.4%) 1,898 (37.0%) Consumer Credit 248 7.6% 75 (67.2%) 324 (29.8%) Businesses 1,140 (1.9%) 273 (78.7%) 1
Slide 58: 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 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Operating Income 667.1 822.7 527.8 61
Slide 59: Results: Retail Business Unit
Results: Retail Business Unit (€ mn) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Operating Income 144.9 152.0 186.0 184.2 240.9 Net Interest Income 110.3 112.0 136.9 149.5 163.6 Net fee and Commission Income 31.9 37.4 43.2 28.0 27.8 Trading & Other 2.7 2.6 5.9 6.7 49.6 Operating Expenses (125.5) (125.8)
Slide 60: Results: Commercial & Corporate Business Unit
Results: Commercial & Corporate Business Unit (€ mn) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Operating Income 117.6 127.8 146.6 135.8 157.3 Net Interest Income 103.7 103.4 127.1 130.1 132.2 Net fee and Commission Income 29.5 30.6 25.6 25.9 27.6 Trading & Other (15.6) (6.2) (6.1) (20.2) (2.5) Operati
Slide 61: Results: Asset Management Business Unit
Results: Asset Management Business Unit (€ mn) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Operating Income 32.1 23.7 23.9 22.9 25.0 Net Interest Income 3.7 4.0 3.4 2.5 3.5 Net fee and Commission Income 26.1 18.1 17.6 16.2 14.8 Trading & Other 2.2 1.6 2.9 4.3 6.7 Operating Expenses (12.1) (10.5) (9.0) (
Slide 62: Results: Investment Banking & Treasury Business Unit
Results: Investment Banking & Treasury Business Unit (€ mn) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Operating Income 68.3 82.9 90.7 155.3 407.0 Net Interest Income 36.3 43.7 58.1 71.9 39.2 Net fee and Commission Income 6.7 12.7 8.7 5.6 5.1 Trading & Other 25.4 26.5 24.0 77.8 362.6 Operating Expenses
Slide 63: Results: SE Europe Business Unit
Results: SE Europe Business Unit (€ mn) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Operating Income 47.1 60.1 52.3 53.8 57.9 Net Interest Income 42.5 47.7 41.3 42.2 45.4 Net fee and Commission Income 10.0 9.7 9.2 7.8 7.5 Trading & Other (5.4) 2.7 1.8 3.8 5.0 Operating Expenses (119.5) (46.6) (44.2) (49
Slide 64: Results: Other Business Unit
Results: Other Business Unit (€ mn) Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Operating Income (4.1) (10.7) (2,114.5) (0.7) 13.9 Net Interest Income 1.2 3.8 0.5 (0.1) 0.6 Net fee and Commission Income 0.1 0.0 (0.0) (0.0) (0.0) Trading & Other (5.4) (14.5) (2,115.0) (0.6) 13.4 Operating Expenses (43.6)
Slide 65: 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
Slide 66: 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
Slide 67: 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
Slide 68: Alpha Bank Contacts
Alpha Bank Contacts Lazaros Papagaryfallou General Manager – CFO +30 210 326 2261 cfo-office@alpha.gr Iason Kepaptsoglou Elena Katopodi Stella Traka Selini Milioni Manager Deputy Manager Senior Senior Investor Relations Division Investor Relations Division Investor Relations Officer Investor Relatio