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Lousy HSBC France sale is better than none
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Capital Calls: HSBC, MRNA scramble, Cable project
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Macron s 2030 EU tech push is oddly modest
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Concise insights on global finance. -
GALAXY BRAIN. Alpha Bank (ACBr.AT) Chief Executive Vassilios Psaltis on Monday announced plans to raise 800 million euros of âgrowth capitalâ as part of his strategy to reach a 10% return on tangible equity (ROTE) by 2024. Investors nudged the lenderâs shares up by one-tenth, reversing some of Fridayâs losses, but theyâre still sceptical. If Psaltisâs targets were achievable, Alphaâs market value in 2024 should roughly match its projected 6.7 billion euro tangible book value. In todayâs money, using a 10% discount rate, thatâs 5 billion euros. Yet the lender is worth less than a third of that sum.