Greece's Alpha Bank raises full-year guidance

Alpha Bank SA

02/08/2024 08:54

ATHENS, Aug 2 (Reuters) - Alpha Bank, Greece's
fourth-largest lender by market value, raised its full-year
profit guidance on Friday after a 22.6% jump in first-half net
profit.
    The group now expects earnings per share of 0.33 euros
($0.3562), up from the previous projection of 0.31 euros, it
said.
    Net profit was 437 million euros for the six months to June
30, up from 356.6 million euros in the same period last year, on
the back of increased interest, fees and commission. 
    "In the first half of 2024, we have managed to progress our
strategy swiftly, meeting several targets ahead of plan," said
Chief Executive Vassilios Psaltis.
    Greek lenders are recovering after three recapitalisations
that led to their effective nationalisation in the wake of a
deep financial crisis.
    After cutting bad loan ratios and reducing state
participation, they received the green light from the European
Central Bank this year to pay out dividends for the first time
since 2007.
    "We can now look forward to a future of higher recurring
profitability," Psaltis added.

($1 = 0.9264 euros)

 (Reporting by Michele Kambas
Editing by David Goodman)
 ((michele.kambas@thomsonreuters.com;))