V. Psaltis: In 2022 the changes for Alpha Bank of the Future

A message of significant acceleration of the transformation, as Alpha Bank returns to strong levels of profitability, in order to build a new relationship with society, actively supporting the progress of citizens and businesses, is sent by Alpha Bank CEO Vassilis Psaltis through a letter to the Group’s staff for the new year.

 

In the aftermath of a demanding, but also successful year,”that confirmed Alpha Bank’s ability to turn decisively to tomorrow and manage developments as opportunities and not as threats”, Mr. Psaltis underlines, addressing the Group’s executives, that “we must highlight Alpha Bank as a financial institution that will be fully coordinated with the dynamics that are developing in Society, it will actively support the progress of citizens and businesses, it will make those who work in it proud and, ultimately, it will be the most attractive employer for talented young people.” He adds that “for Alpha Bank this change is not imposed by the circumstances, but is a conscious choice, a source of communication and interaction with our staff.”

 

Regarding the 2021 report, the Group’s CEO notes that “the economic crises of the past decade and the pandemic have made us stronger and more resilient. Thus, despite the circumstances, we managed to implement a series of our strategic choices, shaping Alpha Bank of the Future” and mentions a series of milestones, such as:

 

•The completion of a series of complex transactions, “so that the Bank can leave behind the legacy of bad loans and limit the ratio of non-performing exposures (NPEs) by 14 billion./ euros or by 26 percentage points.

 

•The successful completion of the first developmental character, share capital increase in the Greek banking system after more than twelve years of crisis, “a move  that confirms our position as a pioneer of banking developments and signals our determination to support the development of Greek society and the prospects of the Greek economy, taking advantage of the historical opportunity offered to the country by the Recovery Fund and the other Community financial initiatives”.

 

•The continuous and consistent investment in the Bank’s digital capabilities, “in order to provide uninterrupted and high quality services, but also to prepare for the next day of competition in the field of transactions”.

 

•The successful new issuances “demonstrate the firm confidence of the investment community in the Bank’s strategic plan.

 

•The realization of operational changes and changes for the decisive improvement of Alpha Bank’s profitability prospects. “Our strategic alliance with Generali in the field of bancassurance, Nexi in merchant acquiring and payment clearance, Davidson Kempner/Cepal in the management of NPE, the EBRD in a series of funding initiatives in our country and, soon, through Project Skyline in the real estate industry, they are moves that improve our know-how, upgrade the quality of services to our customers and diversify the sources of revenue for our Group”, notes Mr. Psaltis.

 

•Moreover, “the sale of the subsidiary in Albania is a practical recognition of the value of Alpha Bank’s presence in the country to date, as well as a basis for a mutually beneficial commercial cooperation with the OTP Banking Group in markets where we do not maintain a presence, but customers of the Bank are active.

 

“It is a joint effort to build an extroverted and innovative Bank, a Bank that, through the provision of high quality services, will constantly improve productivity and profitability levels and create value for our staff and shareholders,” he also says, adding that “in a year of intensifying competition between banking institutions, we need to show even greater initiative, foresight and speed”, concludes the CEO of Alpha Bank Group.