Alpha Services and S A : announces that it has received supervisory approval for the distribution of Euro 122 million, equal to 20% of 2023 profits.

Announcement [06.06.2024]

Alpha Services and Holdings S.A. announces that it has received supervisory approval for the distribution of Euro 122 million, equal to 20% of 2023 profits.

Alpha Services and Holdings S.A. ("Alpha Holdings" or the "Company"), parent entity of Alpha Bank S.A. (the "Bank"), has received on 05.06.2024 the necessary supervisory approval for the distribution of Euro 122 million out of 2023 profits. The amount equates to a 20% payout out of 2023 profits and distribution is subject to the relevant approval by the Annual General Meeting (the "AGM"), including in relation to the share buyback.

As previously communicated to the market, Alpha Holdings' intention is to distribute half of the amount, or Euro 61million, in the form of a cash dividend, an equivalent of Euro 0.026 per share. The remainder will be used to conduct a share buyback under customary conditions and in accordance with all applicable laws. Supervisory approval for the cancellation of the shares that will be acquired by the Company as part of the buyback program has already been received.

Supervisory approval for the reinstatement of distributions is testament to the Greek banking system's strong performance. For the Alpha Holdings, it has come on the back of the successful implementation of its business plan, with profitability reaching 13.5% in Q1 of 2024, fully loaded CET1 capital at 16.2% post accrual for distributions and accounting for the benefits from the closing of pending transactions, and restored balance sheet resilience.

Alpha Bank's CEO Vassilios Psaltis noted:

"We are proud to return to our long history of rewarding our shareholders. Supervisory approval for the resumption of dividend payments is the final stamp of approval for the Bank's full return to normality since the outburst of the financial crisis.

It has taken hard work, courageous and difficult decisions, the commitment of everyone in the Bank and, of course, the unwavering support of our shareholders to get to this moment. I am confident that, by remaining focused in executing our strategy, we will continue increasing distributions, in line with our business plan".