Wikipedia

Alpha Bank

Not to be confused with Alfa Bank (disambiguation).

Alpha Bank is a private Greek bank. Its founder was John Kostopoulos[9] Alpha Bank's Network in Greece has 273 branches and 783 ATMs.[10]

Alpha Services and Holdings S.A.[1]
Alpha Υπηρεσιών και Συμμετοχών[1]
Native name
Alpha Υπηρεσιών και Συμμετοχών Α.Ε.[1]
FormerlyBank of Kalamata, Commercial Credit Bank[2]
Company typePublic
Athex: ALPHA
ISINGRS015003007[3]
IndustryFinancial services
Founded10 March 1918; 106 years ago (1918-03-10)[1] in Kalamata, Greece[2]
FounderYannis Costopoulos[2]
Headquarters
Athens
,
Greece[1]
Number of locations
287 branches[4] (2024)
Area served
Key people
[5]
  • Decrease €1.502 billion (2021)
[4]
  • Decrease €2.906 billion (2021)
[4]
Total assets
  • Increase €73.356 billion (2021)
[4]
Total equity
  • Decrease €6.080 billion (2021)
[4]
OwnerUniCredit (8.9%)[6]
Number of employees
8,487 Edit this on Wikidata
Subsidiaries
  • Alpha Bank
  • Alpha Bank Cyprus
  • Alpha Bank London
[7]
Capital ratioTier 1 Ratio 13.2% (2021)[8]
Websitewww.alphaholdings.gr
Alpha Bank Residence Thessaloniki

The Group operates in Greece, United Kingdom, Luxembourg and Cyprus with a network of 287 retail outlets (273 in Greece, 12 in Cyprus, 1 in the United Kingdom, 1 in Luxembourg) and employs 8,487 people in Greece and abroad.[11]

Alpha Bank has been listed on the Athens Stock Exchange since November 1925.

History

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First years

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John F. Costopoulos, Painting by Georgios Jakobides, 1919

Ioannis F. Kostopoulos, a textile merchant from Sperhogeia in Messinia, founded a commercial shop in 1882 in Kalamata and in 1885 he started to be active in foreign exchange trading.[12] In 1916 the trading house was transformed into a bank under the "Bank I. F. Kostopoulos" with the participation of Laiki Bank of Dionysios Loverdos.[13] In 1918 the bank was transformed from a limited partnership into a joint-stoick company called "Bank of Kalamata.[13]

After the death of Ioannis F. Kostopoulos, the reins of the bank were taken over initially by Spyros Kostopoulos and then by Dimitrios Kostopoulos, who in 1923 merged the banking division of the commercial house "Ioannis F. Kostopoulos" with the Bank of Kalamon, creating the "Bank of Hellenic Commercial Credit" based in Athens.[12][14] On 2 November 1925 the bank was listed on the Athens Stock Exchange and in 1932 the bank moved to a privately owned building on Stadiou and Pezmazoglou streets.

The economic crisis of 1929 forced the "Bank of Hellenic Commercial Credit" to reduce its network of branches and to seek financing from the National Bank of Greece, which now appointed a representative to its board of directors.[15] Dimitris Kostopoulos was succeeded in the leadership of the bank by his sons Spyros and Stavros Kostopoulos.[16]

The war period that would follow would lead the bank to a dead end, which would liquidate almost all its assets. The board of directors will even call an extraordinary general meeting on 19 December 1944 to dissolve the company. The dissolution would not take place due to the events of Dekemvriana and after the Treaty of Varkiza the decision of the directors would be revised.[17]

Post-war period

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In 1947 the name of the bank was changed to "Commercial Credit Bank". After the difficult 1950s, marked by a recession, the bank began to focus on developing a national network of branches.[13][18][14] In 1965, Manufacturers Hanover Trust 15, the fourth largest bank at the time, United California Bank, and N.V. Slavenburg's Dutch Bank would join the company's capital stock.[19]

In the 1970s, Yannis Kostopoulos, son of Spyros Kostopoulos, joined the management of the company. The bank promoted a new corporate identity, renamed itself "Credit Bank" and adopted the reverse of the silver stater of Aegina as its archetype.[17] In 1979 the bank celebrated its 100th anniversary. In 1984, after the death of his father Spyros, Yannis Kostopoulos assumed the duties of chairman of the board of directors.[20] Under his leadership, the bank expanded its activities to other sectors through the establishment of dozens of subsidiaries.[13]

In 1989 the bank expanded its activities to London with the establishment of a Representative Office, which shortly afterwards, in 1993, would become a branch.[21] In 1993 the bank established "Banca Bucuresti", today Alpha Bank Romania, becoming the first foreign bank to enter the Romanian banking market.[21][22]

1994 - 2000

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In 1994 the name of the bank was changed again to "Alpha Credit Bank". In 1997 the bank expanded into Albania with the establishment of branches in all major cities of the country.[23] In 1998, the bank was the first in Greece to launch Alpha Web Banking, which established banking transactions via the Internet, and in the same year the bank expanded to Cyprus with the acquisition of Lombard NatWest Bank Ltd, which would later be renamed Alpha Bank Cyprus.[23]

The following year the bank acquired a majority stake in Kreditna Banka the fourth largest bank in North Macedonia, later renamed Alpha Bank A.D. Skopje. In 1999 the Bank acquired 51% of the shares of Ionian Bank for 272 billion drachmas, making it the largest privatisation ever in Greece.[24] The merger of the two banking institutions was completed in 2000 and the new enlarged bank was named Alpha Bank.

2000 - 2010

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In 2002, Alpha Bank expands into the Serbian banking market with the establishment of a branch in Belgrade and two years later, it acquires the majority stake in Jubanka a.d. Belgrade, which is renamed Alpha Bank Srbija A.D. A milestone in the bank's course was its promotion to the status of Major National Sponsor and Official Bank of the ATHENS 2004 Olympic Games, making it the largest sponsorship ever in Greece.[25]

In 2005 Dimitrios Mantzounis took over as CEO with Yannis Kostopoulos remaining as chairman of the board of directors of the bank.[26] In 2008 the bank expanded into Ukraine with the acquisition of a majority stake in the newly established Ukrainian bank OJSC Astra Bank.[27]

2010 - today

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In January 2011, the National Bank of Greece submitted a written proposal to Alpha Bank for a merger of the two banks by absorbing the latter into the former. However, the Board of Directors of Alpha Bank, at its meeting on the 18th of February and after having studied the proposal, decided to reject it on the grounds that the terms were unfavorable for its shareholders.[28] At the end of August of the same year, the agreement between the boards of directors of Alpha Bank and Eurobank EFG to merge the two organizations was announced, which was however revoked in March 2012.[29]

In 2012 Alpha Bank acquired and absorbed Commercial Bank of Greece and in 2014 it acquired the banking activities of Citibank in Greece, including Diners Club cards.[30][31]

On the 31st of May 2013, the recapitalization of the bank was successfully completed, with the required private participation being more than covered, which resulted in the preservation of Alpha Bank's private character. Since the beginning of the financial crisis, Alpha Bank has been selling its assets abroad. In 2013, Alpha Bank sold all the shares of its subsidiary JSC Astra Bank Ukraine to the Ukrainian group Delta Bank, in 2015 the Bulgarian branch to Eurobank Bulgaria AD, in 2016 Alpha Bank A.D. Skopje to Silk Road Capital and in 2017 Alpha Bank Srbija to AIK Banka A.D. Beograd.[32]

On 31 March 2014 Alpha Bank successfully completed its €1.2 billion capital increase.[33] The Bank redeemed the total amount of the Hellenic Republic's Preference Shares on 17 April 2014.[34]

In May 2014, Vassilis Rapanos replaced Yannis Kostopoulos as chairman of the board of directors of the bank.

On 26 October 2014 Alpha Bank announced the successful completion of the European Central Bank's (ECB) Comprehensive Assessment in the Static Adverse Scenario with CET1 8.07% and Capital Surplus of Euro 1.3 billion. Based on the dynamic adverse assumptions, CET1 stands at 8.45% with Capital Surplus of Euro 1.8 billion.[35] Also in 2014, Alpha Bank took over Citibank's Greek retail banking operations.[36]

Alpha Bank requested Emergency Liquidity Assistance (ELA) from the Bank of Greece on 16 January 2015.[37] Its total funding from the ECB (ELA and non-ELA) was €29.9 bn as of 30 September 2015. On 17 July 2015 it sold its Bulgarian branches to Postbank (Bulgaria), the subsidiary of fellow Greek bank Eurobank Ergasias.

In November 2015, it was decided to increase the share capital by EUR 2,563,000,000. The increase included a voluntary exchange of bonds for new shares, through which EUR 1,011,000,000 was raised, and a capital increase by cash payment and cancellation of preferential rights of existing shareholders for an amount of EUR 1,552,000,000.[38] As a result of the increase in the bank's share capital, the State's participation, through the Hellenic Financial Stability Fund, was reduced to approximately 11%.[38]

In 2021, Alpha Services and Participations S.A., 100% parent company of Alpha Bank S.A., successfully completed the Share Capital Increase of EUR 800 million by offering 800.000.000.000 new ordinary shares of nominal value of EUR 0,30 each.[39] With the Share Capital Increase, the HFSF's stake in the bank was reduced to approximately 9%.

In July 2022, Alpha Bank completed the sale of Alpha Bank Albania to OTP Bank PLC.[40]

In October 2023 it was announced that Alpha Bank in Romania will merge with UniCredit leaving Alpha with a 9.9% holding in the new Romanian bank.[41] The deal made between UniCredit and Alpha Bank included the acquisition by UniCredit of the entire stake that the Hellenic Financial Stability Fund had in Alpha Bank. Consequently, on 13 November 2023, the HFSF sold its 9% share of Alpha Bank to UniCredit.[42]

Subsidiaries

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Alpha Bank S.A. belongs to Alpha Services and Holdings S.A., which consists of companies that, in addition to retail banking, offer a wide range of financial products and services, including medium and large corporate banking, capital management and private banking, insurance distribution, investment banking, brokerage and real estate management.

Other subsidiaries of the company are the following:

  • Alpha Asset Management Mutual Fund Management S.A.[43]
  • Alpha Finance Investment Services S.A.[44]
  • Development Company for the Management of European Programmes of Thessaly and Central Greece[45]
  • AlphaLife Life Insurance Company S.A[46]
  • Alpha Leasing Unipersonal S.A. Financial Leasing[47]
  • ABC Factors Business Claims Agency Sole Proprietorship S.A.[48]
  • Alpha Ventures Investment Holdings S.A.[49]
  • Alpha Supporting Services S.A. Supporting Operations[50]
  • Alpha Urban Real Estate S.A. Real Estate, Construction, Tourism and Related Businesses[51]
  • Alpha Real Estate Management and Investments S.A. Real Estate Management and Investments S.A.[52]

Other

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Listing on the Athens Exchange

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The company is listed on the Athens Exchange with the stock symbol ALPHA; the ISIN is GRS015013006.[53] As of 11 August 2015, the number of securities outstanding and the number of securities listed is 12769059858 (around 12.7 billion).[53]

The stock is one of the 25 stocks in the FTSE/Athex Large Cap index (11 August 2015).[54]

See also

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References

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  1. ^ a b c d e "Στοιχεία Δημοσιότητας". Business Registry (in Greek). Union of Hellenic Chambers Of Commerce. Retrieved January 23, 2023.
  2. ^ a b c "Timeline". Alpha Bank. Retrieved January 23, 2023.
  3. ^ "Profile". Athens Exchange Group. Retrieved January 23, 2023.
  4. ^ a b c d e "Consolidated Financial Statements for the year ended 31 December 2021" (PDF). Alpha Services and Holdings. Retrieved January 23, 2023.
  5. ^ "Board of Directors". Alpha Services and Holdings. Retrieved January 23, 2023.
  6. ^ "Στη UniCredit το 8,9% της Alpha Bank". November 14, 2023.
  7. ^ "Annual Report For 2021" (PDF). Alpha Bank. Retrieved January 23, 2023.
  8. ^ "Pillar III Disclosures Report for December 31, 2021" (PDF). Alpha Services and Holdings. Retrieved January 23, 2023.
  9. ^ Πέθανε ο ιδρυτής της Alpha Bank Γιάννης Κωστόπουλος
  10. ^ "Δίκτυο Καταστημάτων".
  11. ^ "Δίκτυο καταστημάτων".
  12. ^ a b Σηφάκης Ν., Xατζηιωάννου I., ed. (1922). Πανελλήνιον Λεύκωμα Eθνικής Eκατονταετηρίδος 1821-1921. Αθήνα. pp. 239–243.{{cite book}}: CS1 maint: location missing publisher (link)
  13. ^ a b c d Τζώρτζη, Ευγενία (March 9, 2021). "Ποιος ήταν ο πρωτοπόρος τραπεζίτης Γιάννης Κωστόπουλος". kathimerini.
  14. ^ a b Κωστής, Κώστας; Τσοκόπουλος, Βάσιας. Οι Τράπεζες στην Ελλάδα, 1898-1928. Αθήνα: Ελληνική Ένωση Τραπεζών. p. 169.
  15. ^ Κωστής, Κώστας (2003). Ιστορία της Εθνικής Τράπεζας της Ελλάδος, 1914-1940. Αθήνα: ΜΙΕΤ. p. 421.
  16. ^ Κώστας Κωστής, ed. (2016). Με λογισμό και μ' όνειρο. Alpha Bank, 19ος-21ος αιώνας. Αθήνα: Alpha Bank. pp. 95 96.
  17. ^ Κώστας Κωστής, ed. (2016). Με λογισμό και μ' όνειρο. Alpha Bank, 19ος-21ος αιώνας. Αθήνα: Alpha Bank. pp. 110–111.
  18. ^ Kostis, Kostas (2002). The Creators and the Creation of Banking Enterprises in Europe from the 18th to the 20th Century. Αθήνα. p. 173.{{cite book}}: CS1 maint: location missing publisher (link)
  19. ^ Κώστας Κωστής, ed. (2016). Με λογισμό και μ' όνειρο. Alpha Bank, 19ος-21ος αιώνας. Αθήνα: Alpha Bank. p. 138.
  20. ^ Κώστας Κωστής, ed. (2016). Με λογισμό και μ' όνειρο. Alpha Bank, 19ος-21ος αιώνας. Αθήνα: Alpha Bank. p. 154.
  21. ^ a b Κώστας Κωστής, ed. (2016). Με λογισμό και μ' όνειρο. Alpha Bank, 19ος-21ος αιώνας. Αθήνα: Alpha Bank. pp. 204–208.
  22. ^ Μαλλιαρά, Νένα (November 24, 2008). "Οι ελληνικές τράπεζες στη βαλκανική αγορά". tovima.gr. Retrieved February 22, 2023.
  23. ^ a b Κώστας Κωστής, ed. (2016). Με λογισμό και μ' όνειρο. Alpha Bank, 19ος-21ος αιώνας. Αθήνα: Alpha Bank. pp. 214–220.
  24. ^ Σιώτος, Γιάννης (March 29, 1999). "Στον όμιλο της Πίστεως με 272 δισ. η Ιονική Τράπεζα". tanea.gr. Retrieved February 22, 2023.
  25. ^ Κώστας Κωστής, ed. (2016). Με λογισμό και μ' όνειρο. Alpha Bank, 19ος-21ος αιώνας. Αθήνα: Alpha Bank. p. 226.
  26. ^ "Alpha Bank: Οι μυστικές διεργασίες και οι κινήσεις στο παρασκήνιο για τον νέο CEO". mononews. February 5, 2018. Retrieved February 28, 2023.
  27. ^ "Greece's Alpha Bank to buy Ukraine's Astra Bank". reuters. March 27, 2008. Retrieved February 28, 2023.
  28. ^ "Ναυάγησε η συγχώνευση Εθνικής - Alpha Bank". skai. Retrieved February 28, 2023.
  29. ^ "Ναυάγησε η συγχώνευση Eurobank – Alpha Bank". kathimerini. March 15, 2012. Retrieved February 28, 2023.
  30. ^ "Greece's Alpha confirms purchase of Citibank's Greek retail ops". reuters. June 13, 2014. Retrieved February 28, 2023.
  31. ^ "Ολοκληρώθηκε η νόμιμη συγχώνευση Αlpha Bank-Εμπορικής". kathimerini. June 28, 2013. Retrieved February 28, 2023.
  32. ^ Papadoyiannis, Yiannis (July 19, 2013). "Ukraine's Astra Bank goes from Alpha to Delta". ekathimerini. Retrieved February 28, 2023.
  33. ^ "Alpha Bank buys back in full 940m euro worth of preference shares". marketall.eu. Archived from the original on February 27, 2015. Retrieved April 17, 2014.
  34. ^ "3rd Quarter Results". announce.ft.com. Archived from the original on February 27, 2015. Retrieved November 4, 2014.
  35. ^ "Alpha Bank to buy Citi's Greek retail assets". ft.com. Archived from the original on February 27, 2015. Retrieved June 13, 2014.
  36. ^ "Greece's Eurobank, Alpha Bank Ask Central Bank for Emergency Liquidity Assistance". Wall Street Journal. January 16, 2015. Archived from the original on January 16, 2015. Retrieved January 16, 2015.
  37. ^ a b "Ολοκληρώθηκε η ΑΜΚ ύψους 2,56 δισ. από την Alpha Bank". kathimerini. November 26, 2015. Retrieved March 3, 2023.
  38. ^ "Alpha Bank: Επιτυχής η ολοκλήρωση για την αύξηση μετοχικού κεφαλαίου των €800 εκατ". newmoney. Retrieved March 3, 2023.
  39. ^ "H OTP Bank απέκτησε την Alpha Bank Αλβανίας". sofokleousin. July 19, 2022. Retrieved March 3, 2023.
  40. ^ "Alpha Bank va fuziona cu Unicredit și vor crea una dintre cele mai mari bănci din România". October 23, 2023.
  41. ^ https://www.unicreditgroup.eu/en/press-media/press-releases-price-sensitive/2023/unicredit-s-p-a-conferma-l-acquisto-del-8-9781--di-alpha-service.html. {{cite web}}: Missing or empty |title= (help)
  42. ^ Alpha Asset Management Α.Ε.Δ.Α.Κ.
  43. ^ Alpha Finance AΕΠΕΥ
  44. ^ Αναπτυξιακή Εταιρία Διαχειρίσεως Ευρωπαϊκών Προγραμμάτων Θεσσαλίας και Στερεάς Ελλάδος
  45. ^ Ασφαλιστικές εργασίες Alpha Bank
  46. ^ Alpha Leasing A.E. Χρηματοδοτικής Μισθώσεως
  47. ^ ABC Factors
  48. ^ Alpha Ventures
  49. ^ Alpha Υποστηρικτικών Εργασιών
  50. ^ Alpha Αστικά Ακίνητα
  51. ^ Alpha Διαχειρίσεως Ακινήτων και Επενδύσεων Α.Ε.
  52. ^ a b "ALPHA Stock Overview". Athens Exchange Group. August 11, 2015. Archived from the original on September 24, 2015. Retrieved August 11, 2015.
  53. ^ "FTSE/Athex Large Cap Index composition". Athens Exchanges Group. August 10, 2015. Archived from the original on September 24, 2015. Retrieved August 11, 2015.
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