The Inter-Alpha Group of Banks was created in 1971 by six banks in the
European Community
The European Economic Community (EEC) was a regional organization created by the Treaty of Rome of 1957,Today the largely rewritten treaty continues in force as the ''Treaty on the functioning of the European Union'', as renamed by the Lis ...
to provide a platform for the regular exchange of ideas and to explore areas for cooperation between its member banks. The group is a non-hierarchical association and is maintained by mutual agreement with each bank retaining full autonomy and independence.
It was one of the banking clubs set up during the 1960s and 1970s when a number of European banks attempted to cooperate at an international level.
Function
The group's function has evolved to:
* Provide a platform for the regular exchange of ideas at the executive and senior management level
* Allow specialists to meet and discuss topics of particular interest
* Establish areas of cooperation, particularly in international trade
* Train bank management through annual Inter-Alpha Banking School and annual Inter-Alpha Banking Management Programme at
INSEAD
INSEAD, a contraction of "Institut Européen d'Administration des Affaires" () is a non-profit business school that maintains campuses in Europe (Fontainebleau, France), Asia (Singapore), the Middle East (Abu Dhabi, UAE), and North America (San ...
at
Fontainebleau
Fontainebleau (; ) is a commune in the metropolitan area of Paris, France. It is located south-southeast of the centre of Paris. Fontainebleau is a sub-prefecture of the Seine-et-Marne department, and it is the seat of the ''arrondissemen ...
near Paris
* Create a framework for individual banks within the Group to work together
Members
Membership of the group has grown to eleven banks, representing 15 European countries:
*
AIB Group, Ireland
*
Novo Banco, Portugal
*
Commerzbank
Commerzbank AG () is a major German bank operating as a universal bank, headquartered in Frankfurt am Main. In the 2019 financial year, the bank was the second largest in Germany by the total value of its balance sheet. Founded in 1870 in Hambur ...
, Germany
*
ING Group
The ING Group ( nl, ING Groep) is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banki ...
, Netherlands
*
Intesa Sanpaolo
Intesa Sanpaolo S.p.A. is an Italian international banking group. It is Italy's largest bank by total assets and the world's 27th largest. It was formed through the merger of Banca Intesa and Sanpaolo IMI in 2007, but has a corporate identity ...
, Italy
*
KBC Bank, Belgium
*
Nordea, Norway, Denmark, Finland and Sweden
*
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 ...
, Greece
*
NatWest Group
NatWest Group plc is a British banking and insurance holding company, based in Edinburgh, Scotland. The group operates a wide variety of banking brands offering personal and business banking, private banking, investment banking, insurance and ...
, UK (via
Williams & Glyn's Bank
Williams & Glyn's Bank Limited was established in London in 1970, when the Royal Bank of Scotland merged its two subsidiaries in England and Wales, Williams Deacon's Bank Ltd. and Glyn, Mills & Co. In 1985, Williams & Glyn's was fully absorb ...
)
*
Santander, Spain
*
Société Générale
Société Générale S.A. (), colloquially known in English as SocGen (), is a French-based multinational financial services company founded in 1864, registered in downtown Paris and headquartered nearby in La Défense.
Société Générale ...
, France
See also
*
ABECOR
*
European Financial Services Roundtable
The European Financial Services Round Table (EFR) brings together chairmen and chief executives of leading European banks and insurance companies. The purpose of the EFR is to contribute to the European public policy debate on issues relating to fi ...
*
Financial market
A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial ma ...
*
Financial services
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, ...
References
*
Mauro Guillén, ''The Rise of Spanish Multinationals'', European Business in the Global Economy
External links
Inter-Alpha Group of Banks
Organizations established in 1971
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