RCS - Alpha Group Intl PLC - Client Balances & Interest Rates, Quarterly Update

Alpha InternationalAnnouncement

23/04/2024 07:15

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RNS Number : 5773L  Alpha Group International PLC  23 April 2024

23 April 2024

Alpha Group International plc

 

("Alpha" or the "Group")

 

Client Balances & Interest Rates, Quarterly Update

 

Alpha Group International plc, a high-tech, high-touch provider of financial
solutions to corporates and institutions, today provides an update on the
blended average numbers for its client balances and interest rates, which
contribute to its 'Net Treasury Income - Client Funds'.

 

 Quarter  Blended average client balance, Alternative Banking  Blended average interest rate
 Q1 2024  £2.0bn                                               4.0%
 Q4 2023  £2.1bn                                               3.8%
 Q3 2023  £1.9bn                                               3.8%
 Q2 2023  £1.9bn                                               3.8%
 Q1 2023  £1.6bn                                               2.8%

 

The Group will continue to publish these figures on a quarterly basis via RNS
Reach and on its website: www.alphagroup.com/investors/financial-information
(http://www.alphagroup.com/investors/financial-information) .

 

Net Treasury Income Explained

Interest is earned on overnight deposits with several credit institutions,
and the amount of interest earned is dependent on several variables:

 

-      The absolute balance we hold, which can move significantly from
day-to-day

-      The mix of currency balances we hold, and;

-      The interest rate environment and rates that can be obtained from
credit-worthy institutions.

 

Net treasury income is a natural by-product of our accounts solution and is an
uncontrollable income stream for the Group, which would be at least partly
transitory if we return to a low-interest rate environment. We have therefore
chosen to recognise interest income on client cash balances as 'net treasury
income - client funds' (formerly 'other operating income'), not operating
revenue. Net treasury income - client funds was £73m in 2023 (2022: £9.3m).

 

 

Enquiries:

 Alpha Group International plc                  Via Alma

 Morgan Tillbrook, Founder and CEO

 Tim Powell, CFO

 Liberum (Nominated Adviser and Joint Broker)   +44 (0) 20 3100 2000

 Max Jones

 Ben Cryer

 Anake Singh

 Peel Hunt (Joint Broker)                       +44 (0) 20 7418 8900

 Neil Patel

 Paul Gillam

 Kate Bannatyne

 Alma Strategic Communications                  +44 (0) 20 3405 0205

 (Financial Public Relations)

 Josh Royston

 Andy Bryant

 Kieran Breheny

 

Notes to editors

 

Alpha is a high-tech, high-touch provider of enhanced financial solutions
dedicated to corporates and institutions operating internationally. Working
with clients across 50+ countries, we blend intelligent human capabilities
with new technologies to provide an enhanced alternative to traditional
banking services, with solutions covering: FX risk management, global
accounts, mass payments, fund finance, and cash management.

 

Key to our success is our team - over 450 people based across nine global
offices, brought together by a high-performance culture and a partnership
structure that empowers them to act as owners of our business.

 

Despite being an established business listed on the London Stock Exchange, we
remain relentlessly focused on maintaining the same level of operational
agility and client focus we had when we first started in 2009. This dynamic,
combined with the passion of our people, has enabled us to make a substantial
and enduring difference to our clients, and deliver a growth story to match.

 

 

 

 

 

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