Alpha Bank

Not to be confused with Alfa Bank (disambiguation).

Alpha Bank S.A.
Αλφα Τράπεζα Α.Ε.

Type	Anonymi Etairia
Traded as	Athex: ALPHA OTC Pink: ALBKD
Industry	Financial services
Founded	1879
Headquarters	Athens, Greece
Number of locations	929 worldwide branches(Q3 2015) (627 Branches in Greece)
Key people	Vasileios Rapanos (Chairman) Dimitrios Mantzounis (CEO)
Products	Retail Investment Corporate Banking Asset Management
Revenue	€1.453 billion (Q3 2016)^[1]
Operating income	€576.0 million (Q3 2016)^[2]
Profit	€482.9 million (Q3 2016)^[3]
Total assets	€68.2 billion (Q3 2016)^[4]
Total equity	€8.50 billion (Q3 2016)^[5]
Owner	Hellenic Financial Stability Fund (11.01%)^[6]
Number of employees	13.847 (2015)^[7]
Subsidiaries	Alpha Bank Cyprus Ltd Alpha Bank Romania Alpha Bank Beograd Alpha Bank Skopje Alpha Bank Albania Alpha Bank London Alpha Insurance Ltd
Capital ratio	15.9% (CET1 Fully Loaded Basel III)
Website	www.alpha.gr

Alpha Bank is the fourth largest Greek bank by total assets but the largest by market capitalisation of 2.7 Billion Euro as of 2 December 2016. It has a subsidiary and branch in London, and branches and subsidiaries throughout Southeastern Europe (see "International expansion" below). Founded in 1879, it has been controlled by the Costopoulos family since the very beginning. Currently Ioannis Costopoulos, who is the grandson of the original founder John F. Costopoulos, and the nephew of Stavros Costopoulos, Foreign Minister in the government of Georgios Papandreou, is the honorary Chairman.

In 2013 Alpha Bank acquired the entire share capital of Emporiki Bank.

On 31 May 2013, the Bank proceeded to a successful recapitalisation with oversubscription of the required private-sector participation in the Rights Issue, which resulted in the preservation of Alpha Bank's private character.^[8]

On 31 March 2014, Alpha Bank successfully completed its Euro 1.2 billion capital increase.^[9]

On 17 April 2014, the Bank redeemed the total amount of the Hellenic Republic's Preference Shares.^[10]

On 26 October 2014, Alpha Bank announced the successful completion of ECB’s 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.^[11]

On 16 January 2015, Alpha Bank requested Emergency Liquidity Assistance (ELA) from the Bank of Greece.^[12] Its total funding from the ECB (ELA and non-ELA) was €29.9 bn as at 30.9.2015.

On 17 July 2015 it sold its Bulgarian branches to Postbank (Bulgaria) the subsidiary of fellow Greek bank Eurobank Ergasias.

History

John F. Costopoulos, Painting by Georgios Jakobides, 1919

In Greece

In 1879 John F. Costopoulos established a small commercial firm in the city of Kalamata.
In 1918 the banking department of the "J.F. Costopoulos" firm changed its name to Bank of Kalamata.
In 1924 the bank moved its headquarters to Athens and changed its name to Banque de Credit Commercial Hellenique.
In 1925 (on November the 2nd) the bank was listed on the Athens Exchange.^[13]
In 1947 the bank changed its name to the Commercial Credit Bank (CCB).
In 1972 the CCB changed its name to Credit Bank (Trapeza Pisteos).
In 1994 Credit Bank changed its name to Alpha Credit Bank (ACB).
In 1999 ACB acquired 51% of the shares of the Ionian Popular Bank.
In 2000 ACB absorbed the Ionian Popular Bank. In the same year ACB changed its name to Alpha Bank.
In 2002 Alpha Bank's attempted merger with National Bank of Greece fell through.
In 2012 Alpha Bank called off its merger with Eurobank Ergasias, which was announced the previous year.^[14]
In 2012, Alpha Bank acquired the Greek part of Emporiki Bank from Credit Agricole for €1.^[15] The legal merger was completed on 28 June 2013.^[16]
In 2013, Alpha Bank took over the deposits of Cooperative Bank of Dodecanese, Cooperative Bank of Western Macedonia and Cooperative Bank of Evia.^[17]
In 2014, Alpha Bank took over Citibank's Greek retail banking operations.^[18]
End 2015 Results: 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 European Banking Authority 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%

International expansion

Economy of Greece

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Alpha Bank Tower, Bucharest.

Building of the Alpha Bank in Cannon Street, London.

In 1960 Commercial Credit Bank established a subsidiary in Cyprus that it may later have closed or sold.
In the early 1990s, the bank started on a program of international expansion, especially in Southeastern Europe.
In 1994 Credit Bank and the EBRD established "Banca Bucureşti" in Romania, which commenced operations the next year. Credit Bank owned about 50% of the bank.
In 1994 ACB acquired Commercial Bank of London from Commercial Bank of Greece (Emporiki Bank) and renamed it Alpha Credit Bank London.
In 1998 ACB established a branch in Tirana, Albania, and followed that with three more branches.
In 1998 ACB acquired 82.5% of Lombard NatWest Bank in Cyprus and renamed it Alpha Bank Cyprus Ltd.
In 1999 ACB acquired 65% of Kreditna Banka, Skopje, Republic of Macedonia.(see Alpha Bank Skopje).
In 2000 "Banca Bucureşti" changed its name to "Alpha Bank Romania" (ABR). Banca Monte dei Paschi di Siena took a 5% share of the bank. Alpha Bank’s share became 63%. ABR itself acquired a 12.5% stake in Victoria Bank (est. 1989), the largest private bank in Moldova.
In 2002 ACB acquired the minority stake and became the sole shareholder in Alpha Bank Skopje, accounting for 100% of its share capital.
In early 2005 Alpha Bank acquired 88.64% stake in Serbian Jubanka and changed its name to Alpha Bank Beograd and then to Alpha Bank Srbija.
Alpha Bank also has an extensive branch network in Bulgaria, the foundation of which it inherited from Ionian and Popular Bank, which entered in 1994 with a representative office in Sofia.
In August 2007 Turkish Banking Regulatory and Supervisory Agency blocked the Alpha Bank's move to buy a 50% share in Alternatifbank (Abank) citing Alpha Bank 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 ^[19]
On March 27, 2008, Alpha Bank reached a deal to buy a majority stake in newly established OJSC Astra Bank^[20] in Ukraine as part of plans to expand in the region. Alpha Bank agreed to buy 90 percent of Astra Bank for 9 million euros. Astra Bank become 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).^[21]

In addition, Alpha Bank has a branch in London and a finance company, Alpha Finance US, in New York. The latter does not exist anymore.^[22]

Other

Listing on the Athens Exchange

The company is listed on the Athens Exchange with stock symbol ALPHA; the ISIN is GRS015013006.^[13] As of 11 August 2015 the number of securities outstanding and the number of securities listed is 12769059858 (around 12.7 billion).^[13] The stock is one of the 25 stocks in the FTSE/Athex Large Cap index (11 August 2015).^[23]

References

↑ https://www.alpha.gr/files/investorrelations/group_EN_2016T3.pdf
↑ https://www.alpha.gr/files/investorrelations/presentapotel_31052016gr.pdf
↑ https://www.alpha.gr/files/investorrelations/presentapotel_31052016gr.pdf
↑ https://www.alpha.gr/files/investorrelations/presentapotel_31052016gr.pdf
↑ https://www.alpha.gr/files/investorrelations/presentapotel_31052016gr.pdf
↑ http://www.fpress.gr/trapezes/item/41202-trapezes-sta-heria-ton-funds
↑ "FY2015 Results" (PDF). Alpha Bank. Retrieved 4 Mar 2016.
↑ "Greek Alpha Bank hits recap target, rights issue oversubscribed- sources". www.reuters.com. Retrieved 31 May 2013.
↑ "Greek bill gives rescue fund legal cover for bank capital boosts". http://www.reuters.com. Retrieved 27 March 2014. External link in |website= (help)
↑ "Alpha Bank buys back in full 940m euro worth of preference shares". http://www.marketall.eu. Retrieved 17 April 2014. External link in |website= (help)
↑ "3rd Quarter Results". http://announce.ft.com/. Retrieved 4 November 2014. External link in |website= (help)
↑ "Greece's Eurobank, Alpha Bank Ask Central Bank for Emergency Liquidity Assistance". Wall Street Journal. 2015-01-16. Retrieved 2015-01-16.
1 2 3 "ALPHA Stock Overview". Athens Exchange Group. 11 August 2015. Retrieved 11 August 2015.
↑ Alkman Granitsas, Stelios Bouras and Nektaria Stamouli. (14 March 2012). "2nd UPDATE: Greece's Alpha Bank To Call Off Merger With Eurobank". The Wall Street Journal. Dow Jones & Company.
↑ Fabio Benedetti-Valentini and Elisa Martinuzzi (17 October 2012). "Credit Agricole Exits Greece Taking Profit Hit on Unit". Bloomberg.
↑ "Nine Month 2014 Results: Profit after Τax at Euro 110.5 million". www.londonstockexchange.com. Retrieved 4 November 2014.
↑ "Alpha Bank SA undertakes the deposits of three Cooperative Banks". Reuters. 8 December 2013.
↑ "Alpha Bank to buy Citi's Greek retail assets". http://www.ft.com. Retrieved June 2014. Check date values in: |access-date= (help); External link in |website= (help)
↑ "Turkish regulator blocks bank sale". Financial Times. 2007-08-10. Retrieved 2015-01-16.
↑ "Greece's Alpha Bank to buy Ukraine's Astra Bank". Reuters. 2008-03-27. Retrieved 2012-02-20.
↑ Merge and Acquire, The Ukrainian Week (9 October 2015)
↑ "Alpha Finance US Corporation". https://www.linkedin.com/. Retrieved 13 May 2011. External link in |website= (help)
↑ "FTSE/Athex Large Cap Index composition". Athens Exchanges Group. 10 August 2015. Retrieved 11 August 2015.

External links

Wikimedia Commons has media related to Alpha Bank.

FTSE/Athex Large Cap companies of Greece (June 2015)

Aegean Airlines Alpha Bank Coca-Cola HBC Ellaktor Eurobank Ergasias EYDAP Folli Follie GEK Terna Grivalia Properties HELEX Group Hellenic Petroleum Jumbo Lamda Development S.A. Metka Motor Oil Hellas Mytilineos National Bank of Greece OPAP OTE Piraeus Bank Piraeus Port Authority Public Power Corporation Terna Energy Titan Cement Viohalco

Members of Euro Banking Association

Austria	Allgemeine Sparkasse Oberosterreich Bank für Tirol und Vorarlberg AG BKS Bank AG Erste Group Bank AG Oberbank AG Oesterreichische Nationalbank Raiffeisen Zentralbank Österreich AG Raiffeisenlandesbank Oberösterreich AG Raiffeisen-Landesbank Tirol AG Steiermärkische Bank und Sparkassen AG

Belgium	Dexia Bank NV KBC Bank NV Bank van De Post

Cyprus	Bank of Cyprus Hellenic Bank

Denmark	Amagerbanken A/S Arbejdernes Landsbank A/S Danske Andelskassers Bank A/S Danske Bank A/S DiBa Bank A/S Djurslands Bank A/S Jyske Bank A/S Nordjyske Bank A/S Nørresundby Bank Østjydsk Bank A/S Ringkøbing Landbobank Roskilde Bank A/S Skjern Bank Spar Nord Bank Sparekassen Sjælland Sydbank A/S Vestfyns Bank A/S Vestjysk Bank

Finland	Aktia Bank PLC Bank of Åland PLC Pohjola Bank PLC S-Bank LTD. Tapiola Bank LTD

France	Banque Michel Inchauspé - BAMI Banque Palatine BNP Paribas SA BPCE BRED Banque Populaire Crédit Agricole SA Crédit Coopératif Crédit du Nord Crédit Mutuel Arkéa Credit Mutuel CIC Banque HSBC France La Banque postale Natixis Société Générale

Germany	Berenberg Bank BHF Bank Bremer Landesbank Commerzbank AG Deutsche Bank AG Deutsche Bundesbank Deutsche Postbank DZ Bank AG Europe Arab Bank Frankfurt Hamburger Sparkasse AG J.P. Morgan Chase Bank AG Landesbank Baden-Württemberg Landesbank Berlin Holding Landesbank Hessen-Thüringen Oldenburgische Landesbank SECB Swiss EURO CLEARING Bank GmbH The Bank of New York Mellon, Frankfurt Branch VTB Bank (Deutschland) AG

Greece	Alpha Bank SA Eurobank Ergasias SA National Bank of Greece SA Piraeus Bank SA

Hungary	Magyar Nemzeti Bank OTP Bank FHB Mortgage Bank Merkantil Bank Kereskedelmi és Hitelbank Magyar Takarékszövetkezeti Bank MKB Bank Porsche Bank Hungaria Kinizsi Bank MagNet Bank Hanwha Bank Budapest Hitel- és Fejlesztési Bank

Ireland	Allied Irish Banks Bank of Ireland

Italy	Banca Agricola Popolare di Ragusa Banca del Fucino Banca del Piemonte Banca delle Marche Banca di Imola Banca Monte dei Paschi di Siena Banca Nazionale del Lavoro Banca Popolare del Lazio Banca Popolare dell'Emilia Romagna Banca Popolare di Milano Banca Popolare di Sondrio Banca Popolare di Vicenza Banca Sella Banca Tercas Banco Popolare Cassa di Risparmio della Provincia di Chieti Cassa di Risparmio di Cesena Cassa di Risparmio di Fermo Nuova Cassa di Risparmio di Ferrara Cassa di Risparmio di Loreto Cassa di Risparmio di Ravenna Credito Emiliano Credito Valtellinese ICCREA Banca Intesa Sanpaolo Istituto Centrale delle Banche Popolari Italiane Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige Südtiroler Volksbank – Banca Popolare dell'Alto Adige UBI Banca UniCredit Veneto Banca

Luxembourg	Banque et Caisse d'Épargne de l'État Banque Raiffeisen Banque Internationale à Luxembourg SA KBL European Private Bankers Société Générale Bank & Trust

Netherlands	ABN Amro Bank NV De Nederlandsche Bank ING Bank NV Rabobank Nederland

Poland	Bank BPH SA Narodowy Bank Polski

Portugal	Banco BPI SA Banco Comercial Português Crédito Agrícola Caixa Geral de Depósitos Novo Banco

Slovenia	Banka Slovenije

Spain	Banco Bilbao Vizcaya Argentaria, S.A. Banco Popular Español, S.A. Banco Sabadell, S.A. Bankinter, S.A. Banco Santander, S.A. CaixaBank, S.A. (La Caixa) Catalunya Banc, S.A. (CatalunyaCaixa) Kutxabank, S.A. ABANCA Corporación Bancaria, S.A. (Abanca) Caja Laboral Popular, Cooperativa de Crédito (Caja Laboral) Banco Cooperativo Español, S.A. (Caja Rural) CECABANK, S.A.

Sweden	Skandinaviska Enskilda Banken Svenska Handelsbanken Swedbank AB Nordea Bank AB

United Kingdom	Bank of Tokyo-Mitsubishi UFJ Ltd. Barclays Bank PLC Citibank NA DNB Bank (NOR) HSBC Bank PLC JPMorgan Chase Bank, N.A., London Branch Kookmin Bank International Ltd. Lloyds Bank PLC MashreqBank psc (UAE) Royal Bank of Scotland PLC UBS AG Wells Fargo Bank NA

Non-EU	Bank of China (CHN)

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