23 April 2024
Alpha
Group International plc
("Alpha"
or the "Group")
Client Balances &
Interest Rates, Quarterly Update
Alpha Group International plc, a
high-tech, high-touch provider of financial solutions to corporates
and institutions, today provides an update on the blended average
numbers for its client balances and interest rates, which
contribute to its 'Net Treasury Income - Client Funds'.
Quarter
|
Blended average client balance, Alternative
Banking
|
Blended average interest rate
|
Q1 2024
|
£2.0bn
|
4.0%
|
Q4 2023
|
£2.1bn
|
3.8%
|
Q3 2023
|
£1.9bn
|
3.8%
|
Q2 2023
|
£1.9bn
|
3.8%
|
Q1 2023
|
£1.6bn
|
2.8%
|
The Group will continue to publish
these figures on a quarterly basis via RNS Reach and on its
website: www.alphagroup.com/investors/financial-information.
Net
Treasury Income Explained
Interest is earned on overnight
deposits with several credit institutions, and the amount of
interest earned is dependent on several variables:
- The
absolute balance we hold, which can move significantly from
day-to-day
- The
mix of currency balances we hold, and;
- The
interest rate environment and rates that can be obtained from
credit-worthy institutions.
Net treasury income is a natural
by-product of our accounts solution and is an uncontrollable income
stream for the Group, which would be at least partly transitory if
we return to a low-interest rate environment. We have therefore
chosen to recognise interest income on client cash balances as 'net
treasury income - client funds' (formerly 'other operating
income'), not operating revenue. Net treasury income - client funds
was £73m in 2023 (2022: £9.3m).
Enquiries:
Alpha Group International plc
Morgan Tillbrook, Founder and
CEO
Tim Powell, CFO
|
Via Alma
|
Liberum (Nominated Adviser and Joint Broker)
Max Jones
Ben Cryer
Anake Singh
|
+44 (0) 20 3100
2000
|
Peel
Hunt (Joint Broker)
Neil Patel
Paul Gillam
Kate Bannatyne
|
+44 (0) 20 7418
8900
|
Alma
Strategic Communications
(Financial Public Relations)
Josh Royston
Andy Bryant
Kieran Breheny
|
+44 (0) 20 3405
0205
|
Notes to editors
Alpha is a high-tech, high-touch
provider of enhanced financial solutions dedicated to corporates
and institutions operating internationally. Working with clients
across 50+ countries, we blend intelligent human capabilities
with new technologies to provide an enhanced alternative to
traditional banking services, with solutions covering: FX risk
management, global accounts, mass payments, fund finance, and cash
management.
Key to our success is our team -
over 450 people based across nine global offices, brought together
by a high-performance culture and a partnership structure that
empowers them to act as owners of our business.
Despite being an established
business listed on the London Stock Exchange, we remain
relentlessly focused on maintaining the same level of operational
agility and client focus we had when we first started in 2009. This
dynamic, combined with the passion of our people, has enabled us to
make a substantial and enduring difference to our clients, and
deliver a growth story to match.