With profits of €0.5 billion in the first half of the year and having already achieved more than half of its annual profitability target, Alpha Bank has upgraded its earnings per share forecast for 2026 to €0.41 from €0.40. At the same time, the bank announced it is raising its projected dividend distribution to shareholders to €273 million, maintaining its commitment to a payout ratio of 55% of earnings, with an interim dividend of approximately €124 million in Q4 2026, subject to required approvals — representing a 12% increase compared to the same period last year.
Read also: Alpha Bank: New agreement with the European Investment Fund to support Greek entrepreneurship
Alpha Bank: €0.5bn profit in the first half of the year
Specifically, for the first half of the year, the bank reported:
- Adjusted after-tax profits of €0.5 billion in H1 (+6% year-on-year), with Q2 profits reaching €275 million (+24.6% quarter-on-quarter).
- Net interest income of €853 million in H1 (+7% year-on-year), supported by strong growth in loan disbursements and the bond portfolio.
- Fee income of €326 million in H1 (+34% year-on-year, or +23.7% excluding the PRODEA dividend), driven by strong growth in investment banking and brokerage activities, as well as continued momentum in asset management and loan origination fees.
- Operating income of €1.2 billion in H1 (+10% year-on-year).
- Net credit expansion of €2.2 billion in H1, of which €1.6 billion in Q2, with performing loans approaching €40 billion (+14.3% year-on-year), already covering 87% of the bank’s annual target — a clear sign of the pace at which the 2026 plan is being executed. Total customer assets reached €87.6 billion (+22% year-on-year), with deposits up 14% and assets under management up 43.5%.
- Return on Tangible Book Value (RoTBV) of 14%.
- Projected distribution of €273 million for the 2026 financial year, maintaining a payout ratio of 55%, with a planned interim distribution of approximately €124 million in Q4 2026.
- CET1 ratio at 14.3%, after the dividend distribution provision and organic capital generation of 71 basis points.
- Upgraded earnings per share (EPS) forecast to €0.41 from €0.40 (+13% versus 2025).
Vasilis Psaltis, CEO of the Alpha Bank Group, stated: “Alpha Bank delivered strong results for the second quarter, demonstrating the breadth and sustainability of our business model, as well as the success of the investments we have made in transforming the Group. Our transition to a unified universal business banking model is a key pillar of this journey and will be at the heart of the strategy we will present at our Investor Day.”
The new universal business banking model
Alpha Bank is advancing a broader transformation of its business banking operations, transitioning to a unified universal business banking model that integrates financing, transaction banking, investment banking, capital markets, trade finance, and cross-border services. The goal is to provide comprehensive coverage of business clients’ needs and strengthen the bank’s participation across the full spectrum of their financial requirements.
Central to this new model is the contribution of AXIA, which significantly enhances the Group’s capabilities in investment banking and capital markets, as well as the partnership with UniCredit, through which Alpha Bank is expanding the international reach of its services and products, creating new growth opportunities.
Strong group momentum drives upgraded earnings per share forecasts
Following a strong first-half performance, Alpha Bank has upgraded its earnings per share (EPS) forecast to €0.41, up from the previous €0.40 — a level that represents a 13% increase compared to the €0.36 recorded in 2025. This upgrade reflects the steady momentum of the Group’s core operations, strong loan growth, increased fee income, and the consistent execution of its strategic initiatives, confirming that its key growth drivers are outperforming initial expectations.
At the same time, the growing contribution of the UniCredit partnership and the maturation of the acquisition programme are further strengthening the bank’s growth outlook, generating new revenue streams and expanding its capabilities in high-value-added activities.
Management believes that the momentum of core banking operations, the rise in fee income, and disciplined capital allocation are creating the conditions for sustainable, high-quality profitability in the years ahead.
In November, at its Investor Day, Alpha Bank will present its new three-year business plan and the key value creation drivers that will define the Group’s next phase of growth.
