Strong financial performance for Alpha Bank Romania in the first quarter of 2024, with a net profit of EUR 16 million
- Consistent operational performance, dynamic activity and efficient risk management generated a net profit of EUR 16 million in Q1 2024
- Net loan portfolio amounted to EUR 3.2 billion, up 7% compared to the same period last year
- Customer deposits reached EUR 3.5 billion, up 18% YoY
- Total assets reached €4.7 billion at the end of the first quarter, up 8% compared to the first quarter of 2023
Alpha Bank Romania (ABR) announces financial results for the first quarter of 2024, highlighting continued delivery against our strategy in various business segments and a net profit of EUR 16 million. The net loan portfolio was up 7% YoY in Q1 2023 to EUR 3.2bn, while the deposit portfolio was up 18% to EUR 3.5bn. At the same time, the Bank’s total assets reached EUR 4.7 billion, up 8% YoY.
Performance driven by intense lending activity
Alpha Bank Romania records the best historical performance in the first quarter in terms of new mortgage loan originations, with an increase of 61% compared to the same period in 2023, generated by the Bank’s constant focus on providing customers with affordable and competitive mortgage financing solutions.
Simultaneously, the innovative financial solutions towards meeting the diverse needs of our Clients as well as the flexible experience of getting a loan both online and in-branch generated another notable Q1 results in consumer loan volume, which was up 19% over Q1 2023.
In terms of merchant transactions processed by the bank through POS, Alpha phonePOS and e-commerce solutions, a robust 22% increase was recorded over the same period in 2023.
Accelerated digitalisation
At the beginning of the year, Alpha Bank Romania completed the business transfer of Orange Money Romania IFN ecosystem (customer portfolio, digital assets and credit card portfolio), a move that further strengthened the Bank’s position in the market and enhances its ability to offer innovative financial solutions to a wider customer base.
Alpha Bank Romania’s digital transformation efforts in the first quarter improved customer services as well as security measures. Thus, Alpha Bank Romania added new functionalities to the Dana virtual assistant, with direct benefits for individual customers. After voice services, automated customer support services can now also be accessed via webchat, allowing customers to quickly interact with the bank for self-service requests.
In addition, Alpha Bank Romania is among the first banks to implement the Beneficiary Name Display Service (SANB) within its online banking platform. This service not only enhances the customer experience, but also provides an additional level of protection against fraud.
Strategic partnerships, stimulus for economic development
In March, Alpha Bank Romania introduced a new suite of financial products designed to support companies’ working capital and investment needs, demonstrating the Bank’s commitment to promoting economic growth and development in Romania. These loans benefit from European Investment Fund (EIF) guarantees and come with reliable and competitive financing solutions for SMEs.
In February, the Bank joined the Government’s „New Home” 2024 Programme, which provides guarantees through the National Credit Guarantee Fund for SMEs to facilitate access to affordable housing. In addition, Alpha Bank Romania partnered with the Ministry of Agriculture and Rural Development to participate in InvestAlim, a new national programme designed to promote the development of the food processing industry in Romania.
Alpha Bank Romania – permanent support for environment, culture, health, financial education
Alpha Bank Romania, in collaboration with Alpha Bank Group and the National Bank of Romania, has been running from September 2023 until March 2024 the exhibition „The Two Sides of the Coin: Means of Transaction – Masterpieces of Art”, an exploration of the intersection of art and finance through Alpha Bank’s numismatic collection, one of the most important collections of ancient coins in the world.
Through partnerships with organisations such as Conservation Carpathia, the Association for the Promotion of Performance in Education and Save the Children, Alpha Bank Romania actively contributes to initiatives aimed at environmental conservation, educational advancement, improved healthcare and the welfare of children. These partnerships reflect the Bank’s dedication to making a positive impact on society and promoting sustainable development in the communities it serves.
About Alpha Bank Romania
Alpha Bank Romania is a member of Alpha Bank Group, one of the largest banking and financial groups in Greece. The international activities of the Group are extended, in addition to Romania, to the United Kingdom, Luxemburg and Cyprus. Alpha Bank Romania is a financial institution ranked among the top 10 banks in the country, with universal banking operations. A systemic bank, with a national presence of over 27 years, Alpha Bank Romania offers a wide range of modern services and products for individuals, as well as for SMEs and the corporate segment. Alpha Bank Romania is one of the financial institutions that innovated the banking sector in Romania, being the first bank to launch on the local market an application that transforms an Android mobile device into a POS terminal. It was also the first bank that issued covered bonds in Romania in 2019 after having introduced in 2001 on the market the first housing loan. For more information visit https://www.alphabank.ro/
