Q4 2024 Alpha Services and Holdings SA Earnings Call Transcript
Key Points
- Alpha Services and Holdings SA (ALBKF) reported a 9% annual growth in normalized profits, translating into a 14% return on tangible equity.
- The company achieved a capital ratio of 16.3%, surpassing its targets ahead of schedule.
- Alpha Services and Holdings SA has doubled its profitability through structural improvements and targeted capital reallocation.
- The company has successfully reduced its NPE ratio below 4%, two years ahead of plan.
- Alpha Services and Holdings SA has completed EUR2.6 billion of sustainable disbursements in two years, showcasing its commitment to sustainability.
- Operating costs have landed higher than expected, even accounting for seasonal effects.
- The company faces pressure on the top line despite growth in operating income.
- There is a lag effect in repricing time deposits, impacting the deposit beta.
- Alpha Services and Holdings SA has accrued EUR36 million in negative one-offs, affecting the bottom line.
- The company anticipates a mild escalation in the cost of risk as it manages a smaller portfolio of NPEs.
Ladies and gentlemen, thank you for standing by. I'm Mina your Chorus Call operator. Welcome, and thank you for joining the Alpha Services and Holdings conference call to present and discuss the full year 2024 financial results.
At this time, I would like to turn the conference over to Alpha Services and Holdings management. Gentlemen, you may now proceed.
Good morning, everyone. Thank you for joining us. I am Iason Kepaptsoglou, Alpha Bank's, Head of IR where the full year states, so the two items on the agenda are the results for the year and the plan for the future. We'll tackle them in that order, switching between Vassilios Psaltis, our CEO; and Vassilios Kosmas, our CFO, as needed, and you get to guess who's who. However, the whole team is here, and we will take Q&A in the end. And with that, over to our CEO, Vassili. The floor is yours.
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