Alpha Bank posts net profits of 48.1 mln in Q1, Greek NPE formation turns slightly negative on write-offs

EconomyBanking Tags: Alpha, Banking, NPLs, Results
Photo by MacroPolis
Photo by MacroPolis

Alpha Bank concluded the release of Greek banks’ first quarter (Q1) results, remaining profitable for the third successive quarter. Net profits more than doubled to 48.1 million euros in Q1 from 20.1 million in the previous quarter.

Core pre-provision profit (PPI) rebounded by 1.2 percent quarter-on-quarter (QoQ) to 305 million, mostly reflecting a drop in operating expenses following the seasonally high figure in Q4, while core income (net interest income - NII and fees) fell.

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