Alpha Bank's 9-month profit edges up on strong fee income, credit expansion (updated)

Alpha Bank SA

07/11/2025 06:35

ATHENS, Nov 7 (Reuters) - Alpha Bank ACBr.AT reported on Friday higher net earnings in the July-to-September period, backed by strong fee income and credit expansion.

Greece's fourth-largest lender by market value, in which Italian bank UniCredit CRDI.MI holds a 29.5% stake, reported normalised net earnings of 677 million euros ($789.52 million) versus a net profit of 665 million euros in the same period last year.

Alpha Bank CEO Vassilios Psaltis said in a statement that the bank's loan book continued to grow, "driven primarily by strong corporate lending, with targeted expansion in Greece and internationally."

Alpha Bank, which acquired the small Astro Bank and the asset management company Axia Venture ,reported a 14% increase in fee income to 349 million euros and 11% in net loans to 41.6 billion euros.

Net interest income fell by 3.6% year-on-year in the first nine months of the year to 1.19 billion euros.

Greek banks have seen their net interest income fall due to the decline in interest rates in the euro zone, prompting them to try and diversify income sources by expanding wealth management and insurance businesses.

($1 = 0.8575 euros)

 (Reporting by Lefteris Papadimas; Editing by Kim Coghill)

 ((lefteris.papadimas@thomsonreuters.com; +30 6944 248134; Reuters Messaging: lefteris.papadimas.reuters.com@reuters.net))