Alpha sees after-tax earnings top €125 mln in Q1

Αlpha Bank on Thursday announced after-tax profits of 125.4 million euros in the first quarter of 2022, with adjusted after-tax profits at €134 million.

Vassilis Psaltis, CEO of the bank, commenting on the first-quarter results, said they confirmed Alpha Bank’s strong dynamism following the completion of a restructuring plan.

He noted that Alpha was on the way to achieving its goals for 2022 and predicted that the NPE ratio will drop into the single digits in the second half of the year.

Psaltis said credit expansion totaled €1 billion, based on new loan disbursements of €2.4 billion in the first three months.

Alpha said commission revenue surpassed €100 million in the first quarter.