Alpha Bank Romania continued its balanced and responsible strategy, with the financial results of the first 9 months reflecting the positive evolution of commercial activity and the commitment to supporting the Romanian economy:
– The net loan portfolio grew 10.3% compared to the same period last year, a performance supported primarily by the financing of legal entities;
– Profit after tax reached EUR 34 million,mainly as a result of positive revenue dynamics;
– Capital and liquidity have remained at elevated levels, well above regulatory requirements.
In the first 9 months, Alpha Bank Romania recorded a sustained evolution of the activity, the financial results highlighting the bank’s resilience and ability to adapt to changes in the current economic environment.
New disbursements granted in the first 9 months on large companies reached almost EUR 300 million registering a 24% increase compared to the same period of the previous year.
During the same period, the volume of new loans granted to SMEs registered an annual increase of 30%, marking the best performance since 2011, while in the segment of consumer loans, new sales recorded an increase of 9%.
The Bank also strengthened its position in the area of payment solutions for merchants, as their turnover through accounts opened at Alpha Bank Romania registered an increase of 27% compared to the first 9 month period of 2022.
In August 2023, Alpha Bank Romania announced the signing of a business transfer agreement with Orange Money Romania to acquire the consumer ecosystem built by the company, that encompasses its customer portfolio, top-of-the-market digital assets (mobile application), credit card portfolio and employees. Onboarding the local Orange Money customer base will allow Alpha Bank Romania to strengthen its market position by significantly expanding its customer portfolio.
New Gold centers were also opened, with the network dedicated to Alpha Gold Personal Banking members reaching 29 centers at the end of September.
At the same time, the Bank continued to promote its corporate responsibility actions towards the community and financial education. In September 2023, Alpha Bank Romania inaugurated the exhibition “Two sides of the same coin. Means of Transactions – Masterpieces of Art”, hosted by the Museum of the National Bank of Romania (NBR).
It is the first time that the Alpha Bank Numismatic Collection, one of the most important collections of ancient coins in the world, travels outside Greece, and the exhibition can be visited until March 2024.
At the end of September 2023, the net loan portfolio of Alpha Bank Romania reached EUR 3.1 billion, marking a 10.3% increase compared to the 9 month period of last year, while customer deposits amounted to EUR 3.3 billion, up by 19.1% versus the same period last year.
The Bank’s total assets reached EUR 4.48 billion at the end of September, registering an annual increase of 10%.
Profit after tax reached EUR 34 million, reflecting the positive revenues dynamics and whist maintaining tight control over its cost base, despite inflationary pressures.
About Alpha Bank Romania
Alpha Bank Romania is a member of Alpha Bank Group, one of the largest banking and financial groups in Greece. The international activities of the Group are extended, in addition to Romania, to the United Kingdom, Luxemburg and Cyprus.
Alpha Bank Romania is a financial institution ranked among the top 10 banks in the country, with universal banking operations. A systemic bank, with a national presence of almost 30 years, Alpha Bank Romania offers a wide range of modern services and products for individuals, as well as for SMEs and the corporate segment.
Alpha Bank Romania is one of the financial institutions that innovated the banking sector in Romania, being the first bank to launch on the local market an application that transforms an Android mobile device into a POS terminal. It was also the first bank that issued covered bonds in Romania in 2019 after having introduced in 2001 on the market the first housing loan.