The plan for the upgrade of Alpha Bank is underway, with CEO Vasilis Psaltis being the main “protagonist” of a steadily upward trajectory, which is coming to “erase” the dark memories of the previous decade.
From the successive acquisitions of recent months to the administrative reorganization, and from UniCredit’s vote of confidence to the noticeable improvement in profitability, the experienced CEO sees the bank heading towards the next day.
Vasilis Psaltis, who first joined Alpha Bank 18 years ago, has “sealed” five different and promising deals in 2025, the main goal of which is to expand the portfolio of activities, giving a new “narrative” to investors.
Flexin in January (acquisition), Astrobank in February (acquisition), AXIA in March (acquisition), ELTA in May (cooperation agreement) and Prodea in June (increase in the percentage to 9.87%), compose a “puzzle”” which testifies to the direction of the management.
All of the above is complemented by the improvement in the Group’s profitability, with Vasilis Psaltis achieving net profits of 517 million euros in the first half of 2025 compared to 322.5 million euros in the corresponding period of 2024. This is an increase of +60%, which is the strongest in the entire banking sector.
The improvement is equally great in the second quarter (+31.5%), having as its main “fuel” the resilient performance of interest income (+4.6% on an annual basis and +1% on a quarterly basis).
This has a clear impact on expectations for the dividend, with the CEO already announcing the payment of a temporary bonus of 111 million euros from the autumn.
However, Vasilis Psaltis’ most important achievement concerns the mega collaboration with UniCredit.
The listed company’s share price has recorded a rally of +115% since the beginning of the year (from 1.6 to 3.5 euros/share), at the same time that the capitalization has exceeded the 8 billion euro milestone for the first time.
