Alpha Bank reports 2.5 bln loss in 9M as it intensifies effort to clean up balance sheet

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

Alpha Bank reported a net loss of 2.5 billion euros in the first nine months of the year (9M), compared to profits of 134 million euros in 9M 2020, due to booking losses from its Galaxy NPE portfolio securitisation.

The Galaxy transaction had an impact of 2.14 billion euros on the bank's results in the second quarter of the year.

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