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Alpha Bank on Monday said its nine-month net profits totaled 344.7 million euros, down 39.3 pct compared with the corresponding period in 2008, reflecting a continuing worsening of business conditions in Greece and Southeastern Europe. Net commission revenues fell 18.9 pct to 286.5 million euros, reflecting lower volumes in investment banking and portfolio management, while results from financial transactions improved to 161.3 million euros. Operating costs grew 2.9 pct to 869.4 million euros, or a cost to revenue rate of 48.3 pct, while personnel spending fell by 4.7 pct to 416.1 million euros.

   

    Capital under management totaled 46.6 billion euros at the end of the nine-month period from January to September, while saving deposits totaled 41.9 billion euros (-0.6 pct). Saving deposits in Greece totaled 35.3 billion euros, almost unchanged from last year, while in Southeastern Europe, saving deposits fell 2.2 pct to 6.1 billion euros.

   

    In Cyprus, the bank operates a branch network of 37 units. Pre-tax profits totaled 59.6 million euros, down 25.9 pct from last year, saving deposits totaled 3.4 billion euros and loans totaled 4.5 billion euros.   In Romania, the bank’s network totals 200 branches. Its loan portfolio grew 6.5 pct to 4.3 billion euros, with pre-tax profits down 10.1 pct to 43 million euros.

   

    In Bulgaria, the bank’s network totals 120 branches. Saving deposits grew 39 pct, while new loans grew by 3.0 pct in the nine-month period.    In Serbia, Alpha Bank operates a network of 167 branches with a market share of 6.4 pct in loans. Operating revenue fell 30.5 pct in the nine-month period.

   

    In Albania, the bank has 47 branches with pre-tax profits at 7.9 million euros, loans up 31.7 pct to 535 million euros and saving deposits down 10.8 pct to 385 million euros.    In fYRoM, the bank operates a branch network of 25 units. Loans fell 15 pct to 131 million euros and saving deposits fell 32 pct to 60 million euros.