EarningsQ2 2026 Earnings Report
APHBF Q2 2026 EPS Results
Actual EPS$0.13
Consensus EPS$0.12
Beat/MissBeat by +$0.01
One Year Ago EPS$0.13
APHBF Q2 2026 Revenue Results
Actual Revenue$1.33B
Expected Revenue$686.41M
Beat/MissBeat by +$647.87M
YoY Revenue Growth-1.08%
Earnings Announcement Details
QuarterQ2 2026
Date07/31/2026
TimeBefore Open
Conference CallFriday, July 31, 2026
APHBF Upcoming Earnings
Alpha Bank's next earnings date is estimated for October 30, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
APHBF Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights robust underlying commercial momentum: strong loan growth and net interest income, materially higher fee income driven by transaction and investment banking (AXIA), healthy deposit and AUM inflows, solid asset quality and meaningful organic capital generation. These positives are tempered by one‑off accounting items (DTA recognition), legacy legal/regulatory headwinds (Katseli law), a quarter‑on‑quarter CET1 decline driven by RWA growth and acquisition impacts, and elevated costs driven in part by recent acquisitions and integration. Management reiterated reported profit guidance (EUR 950m), upgraded EPS guidance to EUR 0.41, and signalled confidence in the franchise transformation and UniCredit partnership. On balance, the favourable operational trends and upgraded guidance outweigh the temporal one‑offs and capital noise.Company Guidance
Strong H1 profitability and upgraded EPS guidance
Reported H1 profits close to EUR 0.5 billion; normalized H1 profit up 6.5% year‑on‑year. Management upgraded full‑year EPS guidance to EUR 0.41 and reiterated reported profit guidance of EUR 950 million.
Net interest income and fee growth
Net interest income (NII) rose 7.3% year‑on‑year driven by loan book growth and higher rates. Fees increased materially: +34% on a headline basis and +24% excluding Prodea dividend, supported by transaction and investment banking activity.
Transaction banking expansion and revenue uplift
Transaction banking revenue increased by c.38% as product and specialist coverage were embedded into client teams. Market share gains of ~10 percentage points in import letters of credit and >11 percentage points in foreign guaranteed issues were reported.
Investment banking traction via AXIA
AXIA advised on 17 transactions across 10 sectors in H1 with cumulative transaction value > EUR 10 billion, contributing materially to fee income and international investor mobilisation (participation in cross‑border transactions such as Allwyn EUR 550m and Zegona EUR 1.1bn).
Strong loan growth and net credit expansion
Performing loans approaching EUR 40 billion; quarter performing loans up 5% with EUR 1.6 billion net credit expansion in Q2. Management stated they reached ~87%–90% of the year’s net credit expansion target in H1 and expect to outperform high single‑digit guidance.
Customer funds, AUMs and tangible book value improvements
Customer funds jumped 7% in the quarter with EUR 600 million of AUM net sales in Q2 (three‑quarters of the AUM target reported). Tangible book value rose ~2% in the quarter and ~7.5% year‑on‑year (adjusted for distributions).
Organic capital generation and distribution policy
Organic capital generation of ~71 basis points in H1. Management accrued EUR 273 million for distribution year‑to‑date and intends to pay circa EUR 124 million interim cash dividend in Q4 (subject to approval), signalling commitment to predictable shareholder returns.
Partnership with UniCredit and product distribution success
UniCredit partnership is delivering cross‑border transaction capabilities (European Gate) and product reach; since launch, ~EUR 1.8 billion of onemarkets funds distributed, expanding wealth/investment proposition.
Asset quality and impairment outlook
NPE ratio improved to 3.6% with coverage at 55%. Impairment losses were EUR 44 million (c.39 bps) in the quarter and underlying cost of risk this quarter reported at 26 bps; management comfortable with FY guidance of ~45 bps.
APHBF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed