LSE:0RCS

Stock Analysis Report

Executive Summary

Alpha Bank A.E., together with its subsidiaries, provides various banking and financial products and services to individuals, professionals, and companies in Greece and internationally.


Snowflake Analysis

Solid track record with reasonable growth potential.


Similar Companies

Share Price & News

How has Alpha Bank A.E's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 0RCS's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

0RCS

-18.9%

GB Banks

-3.3%

GB Market


1 Year Return

-56.5%

0RCS

-44.0%

GB Banks

-25.0%

GB Market

Return vs Industry: 0RCS underperformed the UK Banks industry which returned -38% over the past year.

Return vs Market: 0RCS underperformed the UK Market which returned -22.4% over the past year.


Shareholder returns

0RCSIndustryMarket
7 Day0%-18.9%-3.3%
30 Day-58.3%-30.4%-19.5%
90 Day-68.9%-42.8%-28.9%
1 Year-56.5%-56.5%-40.1%-44.0%-21.0%-25.0%
3 Year-64.9%-64.9%-40.0%-48.2%-14.7%-25.8%
5 Year-95.6%-95.6%-38.6%-50.9%-1.5%-24.1%

Price Volatility Vs. Market

How volatile is Alpha Bank A.E's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Alpha Bank A.E undervalued compared to its fair value and its price relative to the market?

0.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 0RCS (€0.59) is trading above our estimate of fair value (€0.55)

Significantly Below Fair Value: 0RCS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 0RCS is poor value based on its PE Ratio (11.2x) compared to the Banks industry average (4.7x).

PE vs Market: 0RCS is good value based on its PE Ratio (11.2x) compared to the UK market (12.8x).


Price to Earnings Growth Ratio

PEG Ratio: 0RCS is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: 0RCS is good value based on its PB Ratio (0.1x) compared to the GB Banks industry average (0.5x).


Next Steps

Future Growth

How is Alpha Bank A.E forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

42.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0RCS's forecast earnings growth (44.3% per year) is above the savings rate (0.5%).

Earnings vs Market: 0RCS's earnings (44.3% per year) are forecast to grow faster than the UK market (15.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 0RCS's revenue (13.6% per year) is forecast to grow faster than the UK market (2.4% per year).

High Growth Revenue: 0RCS's revenue (13.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0RCS's Return on Equity is forecast to be low in 3 years time (6.1%).


Next Steps

Past Performance

How has Alpha Bank A.E performed over the past 5 years?

68.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0RCS has high quality earnings.

Growing Profit Margin: 0RCS's current net profit margins (7.3%) are higher than last year (6.2%).


Past Earnings Growth Analysis

Earnings Trend: 0RCS has become profitable over the past 5 years, growing earnings by 68.1% per year.

Accelerating Growth: 0RCS's earnings growth over the past year (83.2%) exceeds its 5-year average (68.1% per year).

Earnings vs Industry: 0RCS earnings growth over the past year (83.2%) exceeded the Banks industry 29.6%.


Return on Equity

High ROE: 0RCS's Return on Equity (1.1%) is considered low.


Next Steps

Financial Health

How is Alpha Bank A.E's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: 0RCS has a low level of unsold assets or inventory.

Debt Coverage by Assets: 0RCS's debt is not covered by short term assets (assets are 0.9x debt).


Financial Institutions Analysis

Asset Level: 0RCS's level of assets compared to its equity is low.

Allowance for Bad Loans: 0RCS has a low allowance for bad loans.

Low Risk Liabilities: 0RCS's liabilities are made up of primarily low risk sources of funding.

Loan Level: 0RCS has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 0RCS's loans are broadly funded by customer deposits.

Level of Bad Loans: 0RCS has a high level of bad loans (47.33%)


Next Steps

Dividend

What is Alpha Bank A.E's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 0RCS's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 0RCS's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 0RCS's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 0RCS's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 0RCS is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 0RCS's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Vassilios Psaltis (51yo)

1.25s

Tenure

Mr. Vassilios E. Psaltis has been Chief Executive Officer of Alpha Bank AE since January 2, 2019. Mr. Psaltis was General Manager and Chief Financial Officer of Alpha Bank AE since 2012 until January 2, 20 ...


Leadership Team

NamePositionTenureCompensationOwnership
Vassilios Psaltis
CEO & Executive Director1.25yrsno datano data
Lazaros Papagaryfallou
GM & CFO1.17yrsno datano data
Spyros Filaretos
GM, COO & Director15.25yrsno datano data
Marianna Antoniou
Manager of Accounting & Taxno datano datano data
Dimitrios Kostopoulos
Manager of Investor Relations Divisionno datano datano data
Nikolaos Salakas
GM and Chief Legal & Governance Officer1.08yrsno datano data
Kyriaki Inempolidi
Manager of Marketing and Public Relations Division2.25yrsno datano data
Fragiski Melissa
Executive GM & Chief Human Resources Officer0.083yrno datano data
Artemios Theodoridis
Deputy C.E.O of Non-Performing Loans & Treasury Mgmt15.25yrsno datano data
Spyridon Andronikakis
GM & Chief Risk Officer8.08yrsno datano data

1.8yrs

Average Tenure

52yo

Average Age

Experienced Management: 0RCS's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Vassilios Psaltis
CEO & Executive Director1.25yrsno datano data
Spyros Filaretos
GM, COO & Director15.25yrsno datano data
Artemios Theodoridis
Deputy C.E.O of Non-Performing Loans & Treasury Mgmt15.25yrsno datano data
Vasileios Rapanos
Non-Executive Chairman of the Board5.92yrsno datano data
Yannis Costopoulos
Honorary Chairman5.83yrsno datano data
Jan Oscar A. Vanhevel
Non-Executive Independent Director4yrsno datano data
Efthimios Vidalis
Non-Executive Director5.92yrsno datano data
Shahzad Shahbaz
Non-Executive Independent Director5.92yrsno datano data
Richard Paul Gildea
Non-Executive Independent Director3.75yrsno datano data
Carolyn Adele Dittmeier
Non-Executive Independent Director3.25yrsno datano data

5.9yrs

Average Tenure

64yo

Average Age

Experienced Board: 0RCS's board of directors are considered experienced (5.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Alpha Bank A.E.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Alpha Bank A.E.
  • Ticker: 0RCS
  • Exchange: LSE
  • Founded: 1879
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €958.637m
  • Shares outstanding: 1.54b
  • Website: https://www.alpha.gr

Number of Employees


Location

  • Alpha Bank A.E.
  • 40 Stadiou Street
  • Athens
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALPHAATSE (The Athens Stock Exchange)YesOrdinary SharesGREURJan 1992
ACBBDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0RCSLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
ALBK.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
ALBK.YOTCPK (Pink Sheets LLC)SPN ADR EACH REP 0.25 ORD(POST REV SPLITUSUSDJul 1996
ALPHAATSE (The Athens Stock Exchange)EUR0.3(REV SPLIT)GREURDec 2015
ACBBDB (Deutsche Boerse AG)EUR0.3(REV SPLIT)DEEURDec 2015

Biography

Alpha Bank A.E., together with its subsidiaries, provides various banking and financial products and services to individuals, professionals, and companies in Greece and internationally. The company operates through Retail Banking, Corporate Banking, Asset Management and Insurance, Investment Banking and Treasury, South Eastern Europe, and Other segments. It offers various deposit products, including deposits/savings accounts, working capital/current accounts, checking accounts, investment facilities/term deposits, repos, and swaps; loans comprising mortgage loans, consumer loans, working capital facilities, corporate loans, housing loans, and letters of guarantee; and debit and credit cards. The company also provides leasing and factoring services; asset management services; insurance products; stock exchange, advisory, and brokerage services relating to capital markets; and investment banking facilities, as well as deals in interbank market activities. In addition, it offers mutual funds, bonds, derivatives, government securities, and structured notes; payroll accounts; and imports and exports, custody, shipping finance, automated cash transaction, cash management, payment, and international trade services, as well as mobile, Web, and phone banking services. Further, the company engages in the real estate management and hotel businesses. The company was formerly known as Alpha Credit Bank and changed its name to Alpha Bank A.E. in April 2000. Alpha Bank A.E. was founded in 1879 and is based in Athens, Greece. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 06:42
End of Day Share Price2020/03/18 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.