Alpha Bank on Tuesday reported a 60 pct drop in its net profits to 137.7 million euros in the nine-month period from January to October this year compared with the same period in 2009, while including an extra tax charge of 61.9 million euros net profits totaled 75.5 million euros.

The bank said net interest income totaled 1.373 billion euros, up 5.2 pct, while net interest margin rose to 2.7 pct this year from 2.5 pct in the nine-month last year.

Net commission income fell 11 pct to 255.3 million euros, reflecting lower lending and transactions. Operating cost fell 1.8 pct to 853.7 million euros, reflecting a restructuring of spending, while general expenses fell 3.8 pct to 369.9 million euros.

Operating cost in Greece fell 2.7 pct to 621.9 million euros, while in Southeastern Europe operating cost widened by 1.9 pct to 226.5 million euros. The region contributed 23 pct to the group’s pre-tax earnings and by 21 pct to its lending portfolio.

“Greece makes significant efforts to return to the road of stability and growth,” the bank’s chairman I. Kostopoulos said, adding that “in this difficult conjucture, we showed our strong business potential supporting our customers and our investments in Southeastern Europe, a region of vital significance for our future development”.