The Greek Deal.com
ALPHA BANK
Adjusted net profits for the nine months at €564.7 million
Adjusted after-tax profits of €564.7 million were reported by Alpha Bank for the current fiscal year's nine-month period
HFSF launches process for Alpha's stake; Unicredit offers 1.33 euros/shr
The Fund received last week an offer from Unicredit for the stake as part of the Italian lender’s plan to become Alpha Bank’s biggest investor. Unicredit offers 1.33 euros per share.
Alpha Bank’s strategic partnership with Unicredit is credit positive
The deal will enhance Alpha Bank's tangible capital and profitability. Alpha Bank's return on tangible equity (RoTE) is expected to increase by around 50 basis points, Moody's reckons.