Alpha Services and Holdings SA announces that it has received approval from the supervisory authorities to distribute a dividend of EUR 122 million corresponding to 20% of 2023 profits.

Alpha Services and Participations S.A. (“Alpha Holdings” or “the Company”), parent company of Alpha Bank S.A. (the “Bank”), received on 05.06.2024 the necessary supervisory approval for the distribution of a dividend of 122 million euros from the profits of 2023.

The amount is equivalent to a distribution of 20% of the 2023 profits and is subject to the relevant approval of the Annual General Meeting, including the share buyback component.

As already announced to the investing public, Alpha Holdings’ intention is to distribute half of the amount or €61 million in the form of a cash dividend, equivalent to €0.026 per share. The balance will be used for the share buyback process under the usual conditions and in accordance with the applicable legislation.

The approval of the supervisory authorities for the cancellation of the shares, which will be acquired by the Company under the repurchase program, has already been obtained.

The approval of the supervisory authorities for the resumption of the dividend payment is proof of the strong performance of the Greek banking system.

For Alpha Holdings, this decision comes as a result of the consistent implementation of its business plan, with its profitability reaching the level of 13.5% in the first quarter of 2024 and its equity (fully loaded CET1) at 16, 2%, taking into account the provision for dividend distribution and taking into account the benefits from the completion of pending transactions, as well as the full restoration of the resilience of its balance sheet.

The CEO of the Group, Vassilis Psaltis, noted: “We are proud to return to our Bank’s long tradition of rewarding its Shareholders. The approval of the supervisory authorities for the resumption of the payment of dividends constitutes the sealing of the Bank’s full return to normality, after the outbreak of the financial crisis.

To be able to achieve this goal required hard work, brave and difficult decisions, the commitment of all our employees and, of course, the unwavering support of Shareholders. I am confident that, with commitment to the implementation of our strategy, we will continue to increase dividend distributions, in full alignment with our business plan.”