Analysts have focused in the amount of new disbursements and the net credit expansion of the Bank, which remains for the second consecutive quarter at the highest levels of the market.
They also commented positively on the increased commission income, while emphasizing that this good performance will lead to dividend distribution.
In particular, Goldman Sachs assesses the results as very positive for the share price and proposes a share purchase with a target of 1.74 euros, while also predicting that the return on profitability will increase to 6.4% this year. Special mention is made by the house of the large increase in business loans and the net credit expansion of 1 billion euros compared to the estimated 2.2 billion euros for the whole year.
JP Morgan also talks about strong credit expansion, low forecasts and strong results as a whole, while proposing increased positions (overweight) in the stock, with a target price of 1.5 euros. According to the report, "the net profit of 125 million euros in the first quarter was significantly higher than the forecasts of the company, which expected profits of 47-58 million euros."
Deutsche Bank reports that Alpha Bank recorded strong momentum in the first months of 2022, while Morgan Stanley reports that organic profitability was in line with estimates and that the Bank recorded higher-than-expected profitability. Mediobanca describes Alpha Bank's first quarter as a good start with new loan disbursements that boost Net Interest and commission income, while also highlighting its strong capital position.
For Citi, profitability was higher than expected due to commission income and the significant de-escalation of forecasts, while Wood & Co analysts characterize the results of the first quarter of 2022 as strong and note that the Bank is on track to achieve or even exceed the goals of the year.
Finally, the Greek investment companies AHIA, Pantelakis and NBG securities talk about achieving significant progress that exceeded the estimates and confirm the positive outlook for 2022, as a very good basis for dividend distribution.
You may find out more on the bank's results here.
