Alpha Bank: Net profits of 117.3 mln€ in Q2 2022

Greece-based systemic lender Alpha Bank on Tuesday reported profits of 117.3 million euros for the second quarter of 2022.

Net interest income was up by 6.9 percent q/q, reaching 302.7 million euros, benefiting from growth in loans and securities, according to the ATHEX-listed bank.

Net fee and commission income totaled 100.7 million euros, down 6.7 percent q/q as Q1 benefited from large project finance fees.

Further benefits from already locked-in quarterly cost savings from transactions of circa 18 million euros will materialize post their conclusion.

Core PPI generation stood at €173.1 million euros, up by 5.6 percent, mainly driven by the strong recovery in NII.

Impact from transactions was 189 million euros, in line with the 2022 loss budget.