Athens, Greece. Scope Ratings has reaffirmed Alpha Bank’s BBB issuer rating with a stable outlook, citing the bank’s strong market position, improving profitability and robust capital buffers. The agency said it expects Alpha Bank to maintain a strong performance trajectory through 2028 and further strengthen its credit profile.
Rating rationale
According to Scope Ratings, the assessment is supported by Alpha Bank’s strong market position, improved profitability and comfortable capital reserves.
Acquisitions and growth strategy
Scope highlighted the strategic importance of Alpha Bank’s recent acquisitions of Alpha Trust, Flexfin, AXIA and AstroBank. The agency said these transactions are expected to strengthen the bank’s presence in wealth management, investment banking and the Cyprus market.
The agency added that the acquisitions will support the bank’s longer-term growth strategy and enhance its competitive position across multiple business segments.
Profitability and asset quality
Scope forecasts that Alpha Bank’s profitability will remain resilient over the coming years, with return on risk-weighted assets expected to remain close to 3 per cent through 2028.
The agency also said management’s target of reducing the non-performing exposures ratio below 3 per cent by the end of 2027 is achievable.
Capital and funding
Although Alpha Bank’s Common Equity Tier 1 ratio declined to 15.0 per cent in the first quarter of 2026, Scope said this reflected the impact of acquisitions, credit expansion and distributions to shareholders.
Despite the decline, the agency said the bank continues to maintain a capital buffer of about 500 basis points above supervisory requirements.
Scope also highlighted the strength of Alpha Bank’s funding profile, stating that funding remains primarily based on customer deposits, which account for more than 80 per cent of total funding sources.
