Assets under management in UniCredit's Onemarkets fund reached over 1.8 billion euros (September 2026), originating from Alpha Bank's private banking network, according to banking sources. The rapid surge in funds, as detailed below, is expected to serve as a core pillar of Alpha Bank's new business plan, which will be presented next November at the investors' day. During the first half of the year, Alpha Bank management highlighted that earnings per share (EPS) growth in 2026 will reach 13%, driven by the increased contribution of fee-generating activities resulting from investments made in previous years.
Specifically, on the platform created through the partnership with UniCredit, Axia participated in transactions totaling 6.2 billion euros since the beginning of the year. In corporate lending, 250 million euros in syndicated loans were arranged with UniCredit, 100 million euros came from trade finance (letters of guarantee, payments), and net sales of the Onemarkets Fund reached 700 million euros since late 2025. With the addition of Alpha Trust, Astrobank, and insurance companies in Cyprus (Altius-Universal), UniCredit gains access to Cyprus while expanding the collaboration platform. Regarding Onemarkets fund investment products, Alpha Bank's strategic partnership with the Italian bank provided private banking clients access to selected investment products from international houses in foreign markets, marking perhaps the two banks' most successful joint initiative. Specifically, assets in the Onemarkets fund nearly octupled: at the end of 2024 they stood at 242 million euros, reaching 1.1 billion euros by late 2025, and rising to 1.7 billion euros by the end of June.
9% contribution to group profits from the Wealth sector
According to Alpha Bank, this specific investment proposal includes funds managed by internationally recognized asset managers such as Fidelity International, Rockefeller Asset Management, and Capital Group, several of which are made available exclusively to investors in Greece through Alpha Bank. The rapid expansion of assets was achieved thanks to five private placements by Alpha Bank's private banking division across its nationwide network, the publication of joint investment research and outlooks with UniCredit, exclusive client events, and the Onemarketsfund.gr digital platform. Regarding Alpha Trust, the firm – under its existing management structure and together with Alpha Asset Management mutual fund management company – can leverage UniCredit's geographic footprint both by selling Greek mutual funds and, most importantly, by potentially assuming management of institutional investors and professional portfolio funds.
In the latter segment, Alpha Trust already maintains an established presence and proven track record in Greece. Overall, including the Onemarkets fund, Alpha Bank increased its assets under management in the Wealth sector by 44% during the first half of 2026, reaching 29 billion euros compared to 20 billion euros in 2025. Total revenues amounted to 95 million euros, up from 76 million euros, while normalized net profit rose to 11 million euros. Wealth management's contribution at the group level reached 8% for the half-year, accounting for 9% of total group earnings.
Dimitris Pafilas
dpafilas@yahoo.com
www.bankingnews.gr
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