Alpha Bank

– Hello there! What a lovely weekend we just had—bright but chilly with the sun showing its teeth, and thankfully no rain (let’s see how long this lasts in November).

Returning to positive territory for the Greek stock market, after yesterday’s “brake” on the 5-day rise that preceded it. Traders are “weighing” the Q3 and 9-month financial performance of systemic banks, as well as subsequent management statements on upgraded annual guidance, increased dividends and faster deferred tax (DTC) amortization.

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.

With its biggest competitors struggling to find their stride in recent years, as shown by yesterday’s announcement of the resignation of DELTA’s CEO and the losses reported by FAGE for the Greek market, Hellenic Dairies of the Sarantis brothers continues its growth course unabated while “egging” its profits.

The credit institutions that are considered systemically important and the safety reserve that each of them must have for 2025 has been determined by a decision of the Bank of Greece.

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.

Greece's bank bailout fund HFSF began the process of selling a 10% stake in National Bank of Greece on Monday, marking the end of re-privatization of Greek lenders.

The contribution of industry to Greece's growth in rising, according to economic reports from banks based on Hellenic Statistical Authority (ELSTAT) data.

"On the supply side, the industrial sector was by far the largest contributor to the strengthening of domestic economic activity in Greece in the first half of 2024," Eurobank reported a few days ago.

Fitch Ratings has upgraded the credit ratings of Greece's four systemic banks - i.e. National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank.

This upgrade reflects the improved assessment of Greece's operating environment, now rated at BB+.