Previous close | 1.6900 |
Open | 1.6900 |
Bid | 0.0000 x 0 |
Ask | 0.0000 x 0 |
Day's range | 1.6900 - 1.6900 |
52-week range | 1.3500 - 1.8300 |
Volume | |
Avg. volume | 1,470 |
Market cap | 3.962B |
Beta (5Y monthly) | 1.86 |
PE ratio (TTM) | 6.04 |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | 0.03 (1.67%) |
Ex-dividend date | 26 Jul 2024 |
1y target est | N/A |
ATHENS (Reuters) -Greece's state-controlled bank bailout fund HFSF said on Monday it sold its 9% stake in Alpha Bank to UniCredit for 293.5 million euros ($314 million) after an improved bid by the Italian bank. UniCredit announced last month it would become Alpha Bank's biggest investor by buying a 9% stake owned by Greece's HFSF. The fund said UniCredit had bought its Alpha shares at a price of 1.39 euros each, representing a premium of 9.4% to the stock's closing price on the last trading day before the initial announcement.
Alpha Bank and Piraeus Bank reported on Friday a jump in profits for the first nine months of 2023 as higher rates boosted net interest income and bad loans declined. Alpha Bank, Greece's fourth-largest lender by market value, reported net earnings of 491 million euros ($522 million), up 59% from the first nine months of 2022. Its net interest income increased 45.8% to 1.34 billion euros, as the margin rose to 2.3% from 1.7% a year earlier.
MILAN (Reuters) -UniCredit said on Monday it plans to become Alpha Bank's biggest investor by buying a 9% stake owned by Greece's bank bailout fund, as the Italian lender also agreed to acquire most of Alpha's Romanian business. The moves are part of CEO Andrea Orcel's strategy to grow fee-yielding businesses, after UniCredit parted ways with its in-house fund manager under his predecessor to raise capital. Under a commercial partnership with Alpha, UniCredit will distribute its own asset management products to the 3.5 million clients of Greece's fourth-largest bank.