Q2 2023 Alpha Services and Holdings SA Earnings Call Transcript
Ladies and gentlemen, thank you for standing by. I am Mina, your Chorus Call operator. Welcome and thank you for joining the Alpha Services and Holdings conference call to present and discuss the first half 2023 financial results. (Operator Instructions) And the conference is being recorded. (Operator Instructions)
At this time, I would like to turn the conference over to Alpha Services and Holdings' management. Gentlemen, you may now proceed.
Welcome everyone to Alpha Bank's results call for the second quarter of this year. This is Vassilios Psaltis, Alpha Bank's CEO. I am joined today by Lazaros Papagaryfallou, our CFO; and Iason Kepaptsoglou, the Head of Investor Relations.
And let's go straight to Slide 5, please. Profitability in the first half of the year exceeded 12%, with circa EUR 360 million of normalized earnings. Revenues are up 20% year-on-year, and this is driven by higher rates, volume growth, and an increase in recurring fees. Operating
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