‘Alpha’ banks post $781 million profit

An increase of seven percent from first half of 2010

The 12 largest banks in the country, labeled ‘Alpha Banks’, posted a consolidated net profit of $781 million during the first half of 2011, growing by seven percent from the corresponding period a year earlier.

The ‘Alpha’ group consists of banks with deposits exceeding two billion dollars each.

According to figures released by Bankdata Financial Services, the jump was driven by a 13.7 percent increase in net interest gains to $1.28 billion, and a ten percent rise in net operating income to $1.9 billion.

The banks’ consolidated assets climbed by 11.96 percent to $135 billion, mostly on a 13.85 percent rise in customer deposits to $113 billion.

Total loans reached $37.96 billion at end-June 2011, up by 22 percent from the same period of 2010.