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December 9, 2022

Alpha Bank’s operating income rose by 11 pc

The profit before tax obtained by Alpha Bank in Romania dropped in the first quarter by 61.7 per cent, at EUR 8.1 M, in spite of credits rising by over 3 per cent and deposits by 15.4 per cent, Mediafax informs. At the same time, Alpha Bank Romania’s operating income rose by almost 11 per cent in the first quarter, compared to the same interval of 2009, is stated in a presentation of the Greek group Alpha Bank. Operating expenses dropped by 1.5 per cent, at EUR 23.2 M, while provisions set amounted to EUR 24.5 M. The credit portfolio rose by 3.2 per cent, at EUR 4.2 bln. Within it, consumption credits ebbed by almost 11 per cent, at EUR 331 M. Moreover, the rate of Alpha Bank’s underperforming credits in Romania rose in the first quarter at 4.3 per cent, from 2.6 per cent, at the end of last year, due mainly to problems arising in the sector of loans to companies. At the end of the first quarter of 2009, the rate of the bank’s underperforming credits in Romania was of 0.8 per cent. According to data from the National Bank of Romania, the amount of overdue loans of individuals and companies reached, at the end of March.

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