ECONOMY

Alpha reports 9M profit of 2.47 bln euros

Alpha Bank’s operating profits showed a considerable improvement in the first nine months of the year, according to figures released on Thursday.

Group losses dropped from 711.2 million euros in the January-September period of 2012 to just 102 million euros in the same period this year, and when the impact of Emporiki Bank’s acquisition is factored in, net profits amount to 2.47 billion euros.

Group officials stress Alpha’s healthy capital adequacy as its Core Tier I ratio reached 13.5 percent, while the stock of provisions has grown further.

Alpha President Yiannis Costopoulos stressed the improvement in Greece’s economic climate, stating that “the return of the Greek economy to a course of growth is becoming ever more visible.”