Alpha books net loss of 2.91 bln in 2021 as balance sheet clean-up intensifies

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

Alpha Bank reported a net loss of 2.91 billion euros in 2021, compared to profits of 104 million euros in 2020, as the bank intensified efforts to rid its balance sheet of troubled assets through increased securitisation activity.

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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