Quarterly Report • Sep 29, 2015
Quarterly Report
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| ANC E SH BAL EET |
Con solid |
ated | Alph | a Ba nk |
INCO ME S TAT EME NT F OR T HE P ERIO D |
Con solid ated |
Alph a Ba nk |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| From 1 Ja From 1 Ju ly to y to nuar |
From | 1 Ja From 1 Ju ly to y to nuar |
|||||||||||
| 30.0 9.20 06 |
31.1 2.20 05 |
30.0 9.20 06 |
31.1 2.20 05 |
30.0 9.20 06 |
30.0 9.20 05 |
30.0 9.20 06 |
30.0 9.20 05 |
30.0 9.20 06 |
30.0 9.20 05 |
30.0 9.20 06 |
30.0 9.20 05 |
||
| ASS ETS |
|||||||||||||
| Cash and bala with Cen tral B anks nces |
2.05 2.69 1 |
2.20 2.38 2 |
974. 929 |
1.62 1.17 |
2 Inter est a nd s imila r inc ome |
1.92 4.68 6 |
1.33 2.25 7 |
693. 173 |
469. 836 |
1.73 5.73 2 |
1.15 3.86 1 |
626. 084 |
409. 235 |
| Due from ban ks |
4.13 5.22 7 |
4.77 5.22 9 |
5.49 3.97 1 |
5.67 3.39 |
3 Inter nd s imila r cha est e xpen se a rges |
(865 .379 ) |
(434 .190 ) |
(331 .097 ) |
(154 .596 ) |
(883 .258 ) |
(435 .628 ) |
(335 .936 ) |
(158 .708 ) |
| Secu for t rities held radin g |
242. 288 |
122. 638 |
275. 992 |
153. 587 |
Net inter est i ncom e |
1.05 9.30 7 |
898. 067 |
362. 076 |
315. 240 |
852. 474 |
718. 233 |
290. 148 |
250. 527 |
| Deriv ative fina ncial ets ass |
177. 544 |
138. 997 |
182. 930 |
139. 114 |
|||||||||
| Loan d ad es to tome s an vanc cus rs |
31.2 12.7 07 |
27.3 56.5 43 |
27.4 60.2 33 |
24.2 01.1 39 |
Fee and miss ion in com com e |
315. 532 |
276. 331 |
109. 810 |
102. 104 |
227. 451 |
196. 047 |
83.0 05 |
71.2 34 |
| Inves tmen t sec uritie s |
Com miss ion e xpen se |
(19.9 11) |
(18.0 45) |
(8.36 9) |
(7.19 2) |
(16. 123) |
(16.3 29) |
(7.22 7) |
(6.68 3) |
||||
| - Ava ilable for s ale |
8.18 2.26 9 |
7.74 5.06 2 |
8.01 9.18 4 |
7.56 1.49 |
1 Net f nd c issio n inc ee a omm ome |
295. 621 |
258. 286 |
101. 441 |
94.9 12 |
211. 328 |
179. 718 |
75.7 78 |
64.5 51 |
| Inves tmen ts in subs idiar ies |
- | - | 1.50 1.96 7 |
1.47 1.39 4 |
|||||||||
| Inves ts in ciate tmen asso s |
9.93 6 |
11.3 89 |
10.6 42 |
10.5 85 |
Divid end incom e |
2.67 6 |
2.61 1 |
5 | 95 | 37.6 85 |
59.6 12 |
- | 3 |
| Inves tmen t pro perty |
28.4 18 |
29.5 50 |
42.9 47 |
43.2 45 |
Gain s les s los n fin ancia l tran sact ions ses o |
40.2 25 |
18.1 73 |
9.75 2 |
13.6 02 |
26.2 16 |
(2.17 0) |
573 | 6.08 1 |
| Prop erty, plan t and ipme nt equ |
961. 073 |
937. 973 |
538. 190 |
529. 511 |
Othe r inc ome |
68.9 38 |
79.1 47 |
22.7 90 |
22.8 95 |
10.4 18 |
19.3 21 |
3.83 5 |
3.41 1 |
| Goo dwill and othe r inta ngib le as sets |
110. 668 |
107. 436 |
36.6 60 |
33.0 16 |
111. 839 |
99.9 31 |
32.5 47 |
36.5 92 |
74.3 19 |
76.7 63 |
4.40 8 |
9.49 5 |
|
| Defe rred tax a ssets |
270. 346 |
202. 519 |
248. 227 |
177. 936 |
l inc Tota ome |
1.46 6.76 7 |
1.25 6.28 4 |
496. 064 |
446. 744 |
1.13 8.12 1 |
974. 714 |
370. 334 |
324. 573 |
| Othe ets r ass |
347. 945 |
285. 258 |
205. 479 |
143. 414 |
|||||||||
| 47.7 31.1 12 |
43.9 14.9 76 |
44.9 91.3 51 |
41.7 58.9 97 |
Staff ts cos |
(361 .937 ) |
(337 .371 ) |
(120 .242 ) |
(112 .084 ) |
(271 .414 ) |
(259 .364 ) |
(89.3 94) |
(85.8 66) |
|
| for s Non- nt as sets held ale curre |
91.9 39 |
92.0 70 |
90.5 20 |
90.2 49 |
Gen eral adm inistr ative exp ense s |
(258 .147 ) |
(224 .339 ) |
(85.6 60) |
(77.6 77) |
(197 .354 ) |
(173 .845 ) |
(65.7 14) |
(61.2 42) |
| SSE TS TOT AL A |
47.8 23.0 51 |
44.0 07.0 46 |
45.0 81.8 71 |
41.8 49.2 46 |
Depr eciat ion a nd a mort izatio n ex pens es |
(47.2 91) |
(47.4 46) |
(15.6 80) |
(16.0 54) |
(29.6 17) |
(27.9 92) |
(9.93 0) |
(9.08 6) |
| Othe r exp ense s |
(1.22 5) |
(3.02 1) |
(318 ) |
(1.78 3) |
(1.16 3) |
(210 ) |
(402 ) |
(140 ) |
|||||
| LIAB ILITI ES |
Tota l exp ense s |
(668 ) .600 |
(612 ) .177 |
(221 ) .900 |
(207 .598 ) |
(499 .548 ) |
(461 ) .411 |
(165 ) .440 |
(156 ) .334 |
||||
| Due to ba nks |
6.81 8.64 7 |
8.12 8.59 9 |
7.38 8.20 7 |
8.60 0.36 6 |
|||||||||
| Deriv ative fina ncial liab ilities |
168. 625 |
140. 236 |
169. 580 |
140. 632 |
Impa irme nt lo and ision s to dit ri sk sses prov cove r cre |
(188 .885 ) |
(188 .803 ) |
(58.3 75) |
(64.5 87) |
(165 .390 ) |
(171 .701 ) |
(49.7 36) |
(55.9 66) |
| Due to cu stom ers |
23.5 06.6 24 |
21.6 44.8 04 |
20.5 96.7 57 |
19.3 01.6 46 |
Sha re of prof it (lo ss) o f ass ociat es |
(35) | (1.0 12) |
102 | 137 | - | - | - | - |
| d fun Debt uritie s in issue and othe r bor ds sec rowe |
12.1 13.0 29 |
9.19 2.62 6 |
13.5 36.1 57 |
10.6 65.7 61 |
Prof it be fore taxe s |
609. 247 |
454. 292 |
215. 891 |
174. 696 |
473. 183 |
341. 602 |
155. 158 |
112. 273 |
| Liab ilities for c t inc tax and othe r tax urren ome es |
114. 098 |
128. 202 |
81.8 67 |
87.6 99 |
|||||||||
| Defe rred tax l iabili ties |
112. 935 |
23.8 57 |
110. 034 |
19.5 17 |
Ιnco me t ax |
(134 .180 ) |
(91.5 72) |
(47.8 18) |
(35.9 83) |
(104 .032 ) |
(58.3 56) |
(36.0 55) |
(24.2 07) |
| Emp loyee defi ned bene fit ob ligati ons |
565. 172 |
561. 748 |
513. 096 |
513. 797 |
Prof it aft er ta xes |
475. 067 |
362. 720 |
168. 073 |
138. 713 |
369. 151 |
283. 246 |
119. 103 |
88.0 66 |
| Othe r liab ilities |
956. 432 |
743. 372 |
781. 750 |
566. 763 |
|||||||||
| Prov ision s |
352. 792 |
317. 871 |
17.4 69 |
1.62 8 |
|||||||||
| 54 44.7 08.3 |
15 40.8 81.3 |
43.1 94.9 17 |
39.8 97.8 09 |
Attri buta ble t uity h olde rs of the Bank o eq |
473. 377 |
360. 305 |
167. 512 |
138. 201 |
- | - | - | - | |
| Liab ilities rela ted t rrent ets h eld f le o no n-cu ass or sa |
- | 3.04 7 |
- | - A ttribu table to m inori ty int ts eres |
1.69 0 |
2.41 5 |
561 | 512 | - | - | - | - | |
| Tota l Lia biliti es (a ) |
44.7 08.3 54 |
40.8 84.3 62 |
43.1 94.9 17 |
39.8 97.8 09 |
|||||||||
| EQU ITY |
Earn ings hare per s : |
||||||||||||
| Shar e Ca pital |
1.58 9.97 2 |
1.45 6.01 8 |
1.58 9.97 2 |
1.45 6.01 8 |
Basi c (€) |
1,20 | 0,90 | 0,43 | 0,34 | 0,94 | 0,70 | 0,31 | 0,22 |
| Shar mium e pre |
125. 685 |
125. 685 |
125. 685 |
125. 685 |
Dilut ed (€ ) |
1,20 | 0,89 | 0,43 | 0,34 | 0,94 | 0,70 | 0,30 | 0,22 |
| Rese rves |
335. 187 |
324. 297 |
212. 201 |
220. 423 |
|||||||||
| Reta ined ings earn |
518. 615 |
506. 985 |
297. 504 |
337. 439 |
|||||||||
| Trea sha res |
(338 .596 ) |
(188 .316 ) |
(338 .408 ) |
(188 .128 |
) S TAT EME NT O F CH ANG ES I N EQ UITY FOR THE PER IOD |
Con | solid ated |
Alph | a Ba nk |
||||
| sury f the tribu table to e hold Ban k |
2.23 0.86 3 |
2.22 4.66 9 |
1.88 6.95 4 |
1.95 1.43 7 |
30.0 9.20 06 |
05 30.0 9.20 |
30.0 9.20 06 |
05 30.0 9.20 |
|||||
| Equi ty at quity ers o Mino ntere st |
45.6 81 |
53.0 69 |
|||||||||||
| rity I id se curit ies |
838. 153 |
844. 946 |
- | - | - E quity at b egin ning of th riod (1.1. 2006 and 1.1. 2005 ectiv ely) e pe resp |
3.12 2.68 4 |
2.34 7.44 6 |
1.95 1.43 7 |
1.81 2.01 |
||||
| Hybr Tota |
3.11 4.69 7 |
3.12 2.68 4 |
- 1.88 6.95 4 |
1.95 1.43 |
Profi t for eriod afte r tax |
475. 067 |
362. 720 |
369. 151 |
7 283. |
||||
| l Equ ity (b ) TOT AL L IABI LITIE S AN D EQ UITY (a) + (b) |
51 47.8 23.0 |
44.0 07.0 46 |
45.0 81.8 71 |
7 41.8 49.2 46 |
the p es |
3.59 1 7.75 |
2.71 0.16 6 |
2.32 0.58 8 |
246 2.09 5.26 3 |
||||
| ital in se d uisiti f 61. 24% of D ELTA SIN GUL AR Α .Ε. |
149. 134 |
149. | |||||||||||
| Cap ue to crea acq on o |
- | - | 134 | ||||||||||
| CAS H FL OW STA TEM ENT FOR THE PER IOD |
Con solid |
ated | Alph | a Ba nk |
Cha of pa rticip ating inte in s ubsid iarie d ne quis itions rests nge s an w ac |
(8.08 6) |
(25.4 56) |
- | - | ||||
| From 1 Ja |
y to nuar |
From 1 Ja |
y to nuar |
Divid ends dist ribut ed |
(238 ) .945 |
(175 ) .548 |
(237 ) .556 |
(174 ) .064 |
|||||
| 30.0 9.20 06 |
30.0 9.20 05 |
30.0 9.20 06 |
30.0 9.20 05 |
Net i ogni sed direc tly in ity ncom e rec equ |
(38.5 23) |
37.4 57 |
(49.8 21) |
2.10 3 |
|||||
| Net c ash flows from ratin tivitie s (a) ope g ac |
(1.02 7.60 8) |
2.84 7.83 3 |
(357 .214 ) |
3.85 6.19 |
2 (Pur chas es) / disp osals of tr ry sh and hyb rid s ities easu ares ecur |
(155 .261 ) |
(155 .332 ) |
(150 .280 ) |
(113 .587 ) |
||||
| flows from (b) Net c ash inve sting acti vities |
(553 .879 ) |
(2.06 5.32 2) |
(541 .140 ) |
(3.22 0.79 0) |
from of h Proc eeds the issue ybrid uritie sec s |
- | 588. 000 |
- | - | ||||
| Net c ash flows from fina ncing acti vities (c) |
(481 .040 ) |
410. 971 |
(458 .837 ) |
392. 796 |
Divid ends paid to h ybrid uritie s ho lders sec |
(46.0 58) |
(10.8 36) |
- | - | ||||
| Net i (dec e) in h an d ca sh e quiva lents (a)+ (b)+( c) ncre ase reas cas |
(2.06 2.52 7) |
1.19 3.48 2 |
(1.35 7.19 1) |
1.02 8.19 |
8 Othe r |
3.81 9 |
1.72 1 |
4.02 3 |
1.72 2 |
||||
| Effec t of e xcha rate fluct uatio sh a nd c ash equi vale nts nge ns o n ca |
15.0 84 |
9.21 7 |
845 | 1.04 9 |
of th (30.9 ) Equi ty at end riod .200 6 an d 30 .9.20 05 re tively e pe spec |
3.11 4.69 7 |
3.11 9.30 6 |
1.88 6.95 4 |
1.96 0.57 1 |
||||
| Tota l cas h flo w fo r the iod per |
(2.04 3) 7.44 |
1.20 2.69 9 |
(1.35 6) 6.34 |
1.02 9.24 7 |
|||||||||
| Cas h an d ca sh e quiv alen beg innin g of the p erio d ts at |
5.66 5.81 4 |
5.56 8.38 4 |
5.08 3.95 5 |
5.39 2.02 2 |
Cash and cash equivalents at end of the period 3.618.371 6.771.083 3.727.609 6.421.269
The interim financial statements as at 30.9.2006 were approved by the Board of Directors on 14th November 2006
to visit the web site of the Bank at www.alpha.gr, where the financial statements prepared in accordance with International Financial Reporting Standards (I.F.R.S) are available together with the auditor's report if required. The financial information set out below provides a general presentation of the financial position and results of Alpha Bank A.E. and the Group. We recommend to the reader, before any investment decision or transaction is performed with the Bank,
FOR THE PERIOD FROM JANUARY 1, 2006 TO SEPTEMBER 30, 2006
A. Subsidiaries fully consolidated : B. Joint Ventures consolidated under the proportionate method :
| No Com pan y na me 1 Al pha Ban k Lo ndo n Ltd 2 Al pha Ban k Ltd 3 Al pha Ban k Ro ia S .A. man 4 A lpha Ban k AD Sko pje 5 Al pha Ban k Je Ltd rsey 6 Al pha Ban k AD Beo grad 7 Al pha Leas ing Α .Ε. 8 Al pha Leas ing R nia S .A. oma 9 AB C Fa ctor s Α. Ε. 10 A lpha Ass et F inan ce L td 11 A lpha Ass et F inan ce C .I. Lt d 12 A lpha Fin A.X .E.P .E.Y ance 13 A lpha Fin US Cor tion ance pora S.A 14 A lpha Fin Rom ania ance 15 A lpha Adv isory Rom ania SR L |
Reg iste red offic e Unit ed K ingd om Cyp rus Rom ania FYR OM Jers ey |
% 100 ,00 100 ,00 99,9 1 100 ,00 |
No 20 21 22 |
Com pan y na me ABL Ind nde nt F inan cial Adv isers Ltd epe Alph a In A.E sura nce |
Reg iste red offic e Unit ed K ingd om Gre ece |
% 100 ,00 |
No | Com pan y na me 1 C ardl ink A .E. |
Reg iste red offic Gre ece |
e P artic ipat ion % 50,0 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| 99,5 7 |
2 A PE F ixed Ass ets A .E. |
Gre ece |
60,1 0 |
|||||||
| Alph a In Age nts A .E. sura nce |
Gre ece |
100 ,00 |
3 A PE C ercia l Pro pert y A. E. omm |
Gre ece |
60,1 0 |
|||||
| 23 | Alph a In LTD Cyp sura nce rus |
Cyp rus |
100 ,00 |
|||||||
| 100 ,00 |
24 | Alph a In Brok S.R .L sura nce ers |
Rom ania |
100 ,00 |
||||||
| Serb ia |
99,9 9 |
25 | Alph a As tika Akin ita A .E. |
Gre ece |
66,0 9 |
|||||
| Gre ece |
99,6 5 |
26 | Alph a Re al E state D.O .O. B rad eog |
Serb ia |
100, 00 |
|||||
| Rom ania |
100 ,00 |
27 | Ioni an H otel Ente rpris es A .E. |
Gre ece |
92,6 9 |
C. A | ciat d fo der the unte sso es a cco r un |
ity m etho d : equ |
||
| Gre ece |
100 ,00 |
28 | Ioni an H oldin gs A .E. |
Gre ece |
100 ,00 |
1 E visa k A. E. |
Gre ece |
27,0 0 |
||
| Cyp rus |
100 ,00 |
29 | Oce s A. T.O .E.E ano |
Gre ece |
100 ,00 |
2 I | Α.Ε cap |
Gre ece |
26,9 6 |
|
| Jers ey |
100 ,00 |
30 | Alph a Cr edit Gro up P lc |
Unit ed K ingd om |
100 ,00 |
3 G aiog on A .E. nom |
Gre ece |
20,0 0 |
||
| Gre ece |
100 ,00 |
31 | Alph a Ba nk L ond on N omin Ltd ees |
Unit ed K ingd om |
100 ,00 |
& St 4 A EDE P Th lias s El lado essa erea |
s G reec e |
50,0 0 |
||
| U.S .A. |
100 ,00 |
32 | Alph a Tr uste es L td |
Cyp rus |
99,9 9 |
5 A .L.C . No velle Inve stme nts L td |
Cyp rus |
33,3 3 |
||
| Rom ania |
100 ,00 |
33 | Alph a Ve ntur es A .E. |
Gre ece |
100 ,00 |
|||||
| Rom ania |
100 ,00 |
34 | Mes Hol ding s S. A. sana |
Luxe mbu rg |
100 ,00 |
|||||
| an C 16 A lpha AE F Eu apita l Inv rope |
Holl and |
100 ,00 |
35 | Flag brig ht Lt d |
Unit ed K ingd om |
100 ,00 |
||||
| 17 A lpha Ass et M ent A .E.D ana gem |
Gre ece |
100 ,00 |
36 | Kafe Ma zi A .E. |
Gre ece |
100 ,00 |
||||
| 18 A lpha Gro up J y Ltd erse |
Jers ey |
100 ,00 |
37 | Evre met hea A.E |
Gre ece |
100 ,00 |
||||
| 19 A lpha Priv Inve nt S ervic es A ate stme |
Gre ece |
100 ,00 |
Sales: Alpha Insurance Brokers Α.Ε. ( 21.11.2005 ) and Alpha Insurance Romania S.A. ( 16.2.2006 ).
New companies: Alpha Insurance Brokers S.R.L. which was established by Alpha Bank Romania S.A. and consolidated for the first time on 30.6.2006, Alpha Real Estate D.O.O. Beograd which was established by Alpha Astika Akinita Α.Ε. and consolidated for the first time on 30.9.2006. - Mergers by absorption: Alpha Finance Ltd by Alpha Bank Ltd ( 29.11.2005 ), Alpha Equity Fund Α.Ε. by Alpha Ventures Α.Ε. ( 31.5.2006 ) and Alpha Asset Management A.E.P.E.Y. by Alpha Mutual Fund Management A.E. ( 19.9.2006 ). The latter was renamed to Alpha Asset Management A.E.D.A.K.
Transfers within the Group: Alpha Private Investment Services A.E.P.E.Y., from the parent company Alpha Bank A.E. to Alpha Bank London Ltd ( 1.2.2006 ), and Alpha Bank A.E. Belgrade Branch to Jubanka A.D. Beograd ( 31.5.2006 ), which was renamed to Alpha Bank A.D. Beograd ( 1.6.2006 ) and then to Alpha Bank Srbija A.D. (9.10.2006). b) Concerning the companies accounted for under the equity method:
Sales: Lesvos Tourist Company A.E. ( 24.2.2006 ) and Geosynthesis A.E. ( 14.6.2006 ).
Change in valuation method: As at 29.12.2005 and 1.7.2006, the companies Micrel A.E. and Propindex A.E. are no longer accounted for under the equity method due to the reduction of Bank's subsidiaries ownership interests below 20%.
On 18.10.2006, the Bank transferred 100% of its participation in its subsidiary Kafe Mazi A.E. to Ionian Hotel Enterprises A.E., which is also a subsidiary, for € 60 thous. On the same date the Bank acquired 100% of the Cypriot company Alpha Group Investments Ltd.
The Bank's books and records have been audited by the tax authorities up to the year ended 31 December 2002. A tax audit is in process by the tax authorities for the years from 2003 up to 2005 and is expected to be finalized at the end of the current year. During 2006 the tax audits of Alpha Astika Akinita A.E. and Alpha Insurance A.E. were completed up to the year 2005 and of Ionian Hotel Enterprises A.E. up to the year 2004. Tax audits are currently in process for Alpha Leasing A.E. for the years from 2001 up to 2004 and for Ionian Hotel Enterprises A.E. for the year 2005. The other companies of the Group have been audited by the tax authorities up to the year ended 31 December 2002.
The Bank has purchased 1,734,999 treasury shares during the period 4.10.2006 until 30.10.2006 with a cost value of € 39 million.
No fixed assets have been pledged.
There are no pending legal cases or issues in progress, which may have a material impact on the financial statements of the Group and the Bank.
The total employees of the Group as at 30.9.2006 were 12,047 ( 30.9.2005: 11,605 ) and the employees of the Bank as at 30.9.2006 were 7,271 ( 30.9.2005: 7,143 ).
The related party transactions during the period 1.1.2006 until 30.9.2006 are as follows:
with members of the Board of Directors and other key management personnel: a) of the Group: income € 39 thous., expenses € 6,552 thous. b) of the Bank: income € 34 thous., expenses € 4,273 thous.
with other related parties: a) of the Group: income € 430 thous., expenses € 514 thous. b) of the Bank: income € 146,267 thous., expenses € 347,962 thous.
The balances as at 30.9.2006 of the receivables and liabilities arising from the above transactions are as follows:
with members of the Board of Directors and other key management personnel: a) of the Group: receivables € 2,858 thous., liabilities € 46,326 thous., letters of guarantee € 164 thous. b) of the Bank: receivables € 2,027 thous., liabilities € 30,272 thous., letters of guarantee € 164 thous. - with other related parties: a) of the Group: receivables € 960 thous., liabilities € 1,014 thous., letters of guarantee € 2,641 thous. b) of the Bank: receivables € 3,130,316 thous., liabilities € 15,036,475 thous., letters of guarantee and other guarantees € 75,484 thous.
The basic accounting principles and methods, applied by the Group and the Bank in the interim financial statements as at September 30, 2006 are consistent with those stated in the respective financial statements for the year ended 31.12.2005 and are available at the web site of the Bank.
| E C N O E BO OF ECT ORS TH HAI RMA F TH ARD DIR |
NAG ING ECT OR THE MA DIR |
ECU ECT OR THE EX TIVE DIR |
SEN IOR NAG GR OUP ANC ORT ING MA ER - FIN IAL REP |
|---|---|---|---|
| YAN NIS S. C OST OPO ULO S |
DEM ETR IOS P. M ANT ZOU NIS |
MAR INO S S . YA NNO POU LOS |
GEO RGE N. K ONT OS |
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