UniCredit

Alpha Bank, Greece's fourth-largest lender by market value, reported higher net earnings in the January-September period compared to the same period in 2023, on lower provisions and strong interest and fee income.

The company, in which Italian bank UniCredit holds a 9% stake, reported normalized net earnings of 665.8 million euros versus a net profit of €571.7 million last year.

Italian bank UniCredit said it expected to be able to merge the Romanian business of Greece's Alpha Bank into its own local subsidiary in the second half of next year, after closing the acquisition on Monday.

The collaboration between Alpha Bank and UniCredit ensures extroversion and access to better products and services for Greek businesses. This was highlighted in Kathimerini's joint interview with the heads of the two groups, Alpha's Vassilios Psaltis and UniCredit's Andrea Orcel, who explained the benefits of the collaboration in the areas of business banking and wealth management.

The strategic cooperation between Alpha Bank and Italian giant UniCredit is now being applied with the official launch of the onemarkets Fund by UniCredit exclusively through Alpha in Greece.

State revenues to date from the privatizations of the four systemic banks amount to 3.5 billion euros, after this week's sale of 10% of National Bank of Greece, which raked in a total of €690.1 million.

JPMorgan remains positive about the prospects of Greek banks in a research report reflecting their second-quarter results.

Analyzing the profile of each of the "big four" banks (Alpha, Eurobank, National and Piraeus), the US bank notes the catalysts that could unlock more value and profits for shareholders.

Two major milestones set the tone for Alpha Bank’s developments in Q2 2024, said the Bank’s CEO, Mr. Vasilios Psaltsis, during the presentation of the results. According to Mr. Psaltis.

Alpha Bank chief executive officer Vassilis Psaltis pointed to further expansion and acquisitions in Romania in a joint interview with CEO of Italian bank UniCredit, Andrea Orcel for Bloomberg,

The two CEOs, who have created the third-largest bank in Romania, said they believe in Romania's prospects and see plenty of value there.

As Bulgaria grapples with a deepening political crisis and the looming specter of early elections, the economic ramifications are starkly evident. A recent economic forecast from the Italian financial group "Unicredit" sheds light on the dire consequences, estimating that the turmoil will cost the Bulgarian economy a staggering BGN 1 billion.

The Hellenic Financial Stability Fund (HFSF) on Monday announced that it has agreed to sell its entire stake in Alpha and has started the process for that in National Bank.