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Alpha Bank is the second largest
Greek
Greek may refer to:
Greece
Anything of, from, or related to Greece, a country in Southern Europe:
*Greeks, an ethnic group.
*Greek language, a branch of the Indo-European language family.
**Proto-Greek language, the assumed last common ancestor ...
bank by total assets, and the largest by market capitalization of
€
The euro sign () is the currency sign used for the euro, the official currency of the eurozone and unilaterally adopted by Kosovo and Montenegro. The design was presented to the public by the European Commission on 12 December 1996. It consists ...
2.13 billion (as of 4 December 2018). It has a subsidiary and branch in
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
, England and subsidiaries in
Albania
Albania ( ; sq, Shqipëri or ), or , also or . officially the Republic of Albania ( sq, Republika e Shqipërisë), is a country in Southeastern Europe. It is located on the Adriatic and Ionian Seas within the Mediterranean Sea and shares ...
,
Cyprus
Cyprus ; tr, Kıbrıs (), officially the Republic of Cyprus,, , lit: Republic of Cyprus is an island country located south of the Anatolian Peninsula in the eastern Mediterranean Sea. Its continental position is disputed; while it is ge ...
and
Romania
Romania ( ; ro, România ) is a country located at the crossroads of Central, Eastern, and Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, Moldova to the east, and ...
. Founded in 1879, it has been controlled by the Costopoulos family since its inception. Most recently, Ioannis Costopoulos, grandson of original founder John F. Costopoulos, and nephew of Stavros Costopoulos, foreign minister in the government of
Georgios Papandreou
Georgios Papandreou ( ''Geórgios Papandréou''; 13 February 1888 – 1 November 1968) was a Greek politician, the founder of the Papandreou political dynasty. He served three terms as prime minister of Greece (1944–1945, 1963, 1964–196 ...
, served in many important capacities before his death March 9, 2021.
History
In Greece
In 1879, John F. Costopoulos established a small commercial firm in the city of
Kalamata
Kalamáta ( el, Καλαμάτα ) is the second most populous city of the Peloponnese peninsula, after Patras, in southern Greece and the largest city of the homonymous administrative region. As the capital and chief port of the Messenia regi ...
. The banking department of the "J.F. Costopoulos" firm changed its name to Bank of Kalamata in 1918. The bank moved its headquarters to
Athens
Athens ( ; el, Αθήνα, Athína ; grc, Ἀθῆναι, Athênai (pl.) ) is both the capital and largest city of Greece. With a population close to four million, it is also the seventh largest city in the European Union. Athens dominates ...
and changed its name to Banque de Credit Commercial Hellenique in 1924, and on 2 November 1925 the bank was listed on the
Athens Exchange
The Athens Stock Exchange (ASE or ATHEX; el, Χρηματιστήριο Αθηνών (Χ.Α.), ''Chrimatistírio Athinón'') is the stock exchange of Greece, based in the capital city of Athens. It was founded in 1876. There are currently five ...
.
The bank changed its name to the Commercial Credit Bank (CCB) in 1947, and this name was changed to Credit Bank (''Trapeza Pisteos'') in
1972, and to Alpha Credit Bank (ACB) in 1994.
In 1999, ACB acquired 51% of the shares of the
Ionian Popular Bank, and absorbed it in 2000. It also changed its name to name to Alpha Bank. An attempted merger between Alpha Bank and the
National Bank of Greece
The National Bank of Greece (NBG; el, Εθνική Τράπεζα της Ελλάδος) is a global banking and financial services company with its headquarters in Athens, Greece.
85% of the company's pretax preprovision profits are derived ...
fell through in 2002.
In 2012, Alpha Bank called off its merger with
Eurobank Ergasias
The Eurobank Group is a financial organisation that operates in Greece, Cyprus, Luxembourg, Serbia, Bulgaria and UK. As of December 2018, the Eurobank Group counts, in assets, 653 customer service locations in Greece and abroad, and 13,162 emp ...
, which had been announced the previous year. The same year, Alpha Bank acquired the Greek department of
Emporiki Bank
Commercial Bank of Greece ( el, Εμπορική Τράπεζα της Ελλάδας) was a Greek bank. Its headquarters was in Athens. On 1 February 2013, Alpha Bank bought Commercial Bank.
History
The Commercial Bank of Greece (CBG) w ...
from
Credit Agricole
Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt) ...
for €1. The legal merger was completed on 28 June 2013.
On 31 May 2013 the bank proceeded in a successful recapitalization with an over-subscription of the required private-sector participation in the Rights Issue, which resulted in the preservation of Alpha Bank's private character. Alpha Bank also took over the deposits of Cooperative Bank of Dodecanese, Cooperative Bank of Western Macedonia, and Cooperative Bank of Evia in 2013,
and acquired the entire share capital of
Emporiki Bank
Commercial Bank of Greece ( el, Εμπορική Τράπεζα της Ελλάδας) was a Greek bank. Its headquarters was in Athens. On 1 February 2013, Alpha Bank bought Commercial Bank.
History
The Commercial Bank of Greece (CBG) w ...
.
On 31 March 2014 Alpha Bank successfully completed its €1.2 billion capital increase.
The Bank redeemed the total amount of the Hellenic Republic's Preference Shares on 17 April 2014.
On 26 October 2014 Alpha Bank announced the successful completion of the
European Central Bank
The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's most important centr ...
'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.
Also in 2014, Alpha Bank took over
Citibank's Greek retail banking operations.
Alpha Bank requested Emergency Liquidity Assistance (''ELA'') from the
Bank of Greece on 16 January 2015. 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)
Postbank ( Bulgarian: Пощенска Банка, Poshtenska Banka), legally known as Eurobank Bulgaria AD (former legal name Eurobank EFG Bulgaria AD, date of change 11/1/2013), is a universal bank in Bulgaria.
History
Bulgarian Postbank was fou ...
, the subsidiary of fellow Greek bank
Eurobank Ergasias
The Eurobank Group is a financial organisation that operates in Greece, Cyprus, Luxembourg, Serbia, Bulgaria and UK. As of December 2018, the Eurobank Group counts, in assets, 653 customer service locations in Greece and abroad, and 13,162 emp ...
.
Alpha Bank's 2015 end-year result is Risk-Weighted Assets: €52.6bn. Total loans: €62 bn (€52.5 bn in Greek loans, €9.5bn in loans abroad). 51.3% are non-performing exposures using the
European Banking Authority
The European Banking Authority (EBA) is a regulatory agency of the European Union headquartered in Paris. Its activities include conducting stress tests on European banks to increase transparency in the European financial system and identifying ...
definition, with a 50% Provision coverage and €31.4 bn in deposits (€26.3 bn in Greek deposits). Loan to deposit ratio=147%. Cost to income ratio=50%.
In 2019, Alpha Bank was among the Greek organisations raided by authorities as part of an investigation on anti-competitive practices, horizontal agreements or exclusionary practices in the provision of payment services.
International expansion
In 1960, the Commercial Credit Bank established a subsidiary in
Cyprus
Cyprus ; tr, Kıbrıs (), officially the Republic of Cyprus,, , lit: Republic of Cyprus is an island country located south of the Anatolian Peninsula in the eastern Mediterranean Sea. Its continental position is disputed; while it is ge ...
that it may later have closed or sold.
The bank started a program of international expansion, especially in Southeastern Europe, in early 1990. In 1994, Credit Bank and the
European Bank for Reconstruction and Development (EBRD) established Banca București in
Romania
Romania ( ; ro, România ) is a country located at the crossroads of Central, Eastern, and Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, Serbia to the southwest, Moldova to the east, and ...
, which commenced operations the following year. Credit Bank owned about 50% of the bank. The ACB also acquired the Commercial Bank of
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
from the Commercial Bank of Greece (
Emporiki Bank
Commercial Bank of Greece ( el, Εμπορική Τράπεζα της Ελλάδας) was a Greek bank. Its headquarters was in Athens. On 1 February 2013, Alpha Bank bought Commercial Bank.
History
The Commercial Bank of Greece (CBG) w ...
) in 1994 and renamed it Alpha Credit Bank London.
In 1998 ACB established a branch in
Tirana
Tirana ( , ; aln, Tirona) is the capital and largest city of Albania. It is located in the centre of the country, enclosed by mountains and hills with Dajti rising to the east and a slight valley to the northwest overlooking the Adriatic Sea ...
,
Albania
Albania ( ; sq, Shqipëri or ), or , also or . officially the Republic of Albania ( sq, Republika e Shqipërisë), is a country in Southeastern Europe. It is located on the Adriatic and Ionian Seas within the Mediterranean Sea and shares ...
, and followed that with three more branches. In the same year, it acquired 82.5% of Lombard
NatWest Bank in
Cyprus
Cyprus ; tr, Kıbrıs (), officially the Republic of Cyprus,, , lit: Republic of Cyprus is an island country located south of the Anatolian Peninsula in the eastern Mediterranean Sea. Its continental position is disputed; while it is ge ...
and renamed it Alpha Bank Cyprus Ltd. In 1999 ACB acquired 65% of Kreditna Banka,
Skopje
Skopje ( , , ; mk, Скопје ; sq, Shkup) is the capital and List of cities in North Macedonia by population, largest city of North Macedonia. It is the country's political, cultural, economic, and academic centre.
The territory of Sk ...
, in
North Macedonia
North Macedonia, ; sq, Maqedonia e Veriut, (Macedonia before February 2019), officially the Republic of North Macedonia,, is a country in Southeast Europe. It gained independence in 1991 as one of the successor states of Yugoslavia. It ...
.(''see''
Alpha Bank Skopje
Alpha Bank Skopje (full name: Alpha Bank AD Skopje) is the subsidiary of the Greek bank Alpha Bank, in the Republic of North Macedonia.
In 1999, Alpha Bank officially agreed to the purchase of a 65 Percent (%) stake in the Macedonian Kreditna B ...
).
Banca București changed its name to Alpha Bank Romania (ABR) in 2000.
Banca Monte dei Paschi di Siena took a 5% share in the bank, and Alpha Bank's share became 63%. ABR itself acquired a 12.5% stake in Victoria Bank (est. 1989), the largest private bank in
Moldova
Moldova ( , ; ), officially the Republic of Moldova ( ro, Republica Moldova), is a landlocked country in Eastern Europe. It is bordered by Romania to the west and Ukraine to the north, east, and south. The unrecognised state of Transnistr ...
. In 2002 ACB acquired the minority stake and became the sole shareholder in
Alpha Bank Skopje
Alpha Bank Skopje (full name: Alpha Bank AD Skopje) is the subsidiary of the Greek bank Alpha Bank, in the Republic of North Macedonia.
In 1999, Alpha Bank officially agreed to the purchase of a 65 Percent (%) stake in the Macedonian Kreditna B ...
, accounting for 100% of its share capital. Alpha Bank acquired an 88.64% stake in Serbian
Jubanka and changed its name to Alpha Bank Beograd, and then to Alpha Bank Srbija in early 2005.
Alpha Bank also has an
extensive branch network in
Bulgaria
Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedo ...
, the foundation of which it inherited from Ionian and Popular Bank, which entered in 1994 with a representative office in
Sofia
Sofia ( ; bg, София, Sofiya, ) is the capital and largest city of Bulgaria. It is situated in the Sofia Valley at the foot of the Vitosha mountain in the western parts of the country. The city is built west of the Iskar river, and h ...
.
In August 2007, the Turkish Banking Regulatory and Supervisory Agency blocked Alpha Bank's move to buy a 50% share in Alternatifbank (Abank) citing Alpha Bank as not meeting the terms of Article 8 of Turkey's banking law. The article covers the financial strength, track record and personal history of a bank's board of directors. On 27 March 2008 Alpha Bank reached a deal to buy a majority stake in newly established OJSC Astra Bank in
Ukraine
Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inv ...
, as part of plans to expand in the region. Alpha Bank agreed to buy 90% of Astra Bank for €9 million. Astra Bank became insolvent in March 2015, and in July 2015 it was acquired 100% by Agro Holdings (Ukraine) Limited (a company owned by the US-based
NCH Capital).
Alpha Bank has a branch in London and a finance company, and ran Alpha Finance US, in New York, which no longer exists.
Other
Listing on the Athens Exchange
The company is listed on the
Athens Exchange
The Athens Stock Exchange (ASE or ATHEX; el, Χρηματιστήριο Αθηνών (Χ.Α.), ''Chrimatistírio Athinón'') is the stock exchange of Greece, based in the capital city of Athens. It was founded in 1876. There are currently five ...
with the stock symbol ''ALPHA''; the
ISIN is ''GRS015013006''.
[ As of 11 August 2015, the number of securities outstanding and the number of securities listed is 12769059858 (around 12.7 billion).][
The stock is one of the 25 stocks in the FTSE/Athex Large Cap index (11 August 2015).]
See also
* List of banks
Lists of banks are contained in the following articles:
By continent
* List of banks in Africa – Each country in Africa has a list of banks operating in that country
* List of banks in Asia – Asia has a list of banks operating in that co ...
* List of banks in Greece
This is a list of all the banks incorporated in Greece and some defunct banks.
Extant banks
Central bank
*Bank of Greece
Systemic Greek banks
Greek banks with a significant presence domestically and overseas with large assets under mana ...
* Banking in Greece
* List of Greek companies
Greece is a country in southeastern Europe. Greece is developed country with an advanced high-income economy, a high quality of life, and a very high standard of living. A founding member of the United Nations, Greece was the tenth member to ...
* Ionian Bank and Ionian Popular Bank of Greece
References
External links
*
Alpha Bank stock quote
on Bloomberg Bloomberg may refer to:
People
* Daniel J. Bloomberg (1905–1984), audio engineer
* Georgina Bloomberg (born 1983), professional equestrian
* Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and m ...
{{Authority control
Banks of Greece
Banks of Albania
Companies listed on the Athens Exchange
Greek brands
Banks established in 1879
Banks under direct supervision of the European Central Bank