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Alpha Bank

 

Alpha Bank


Alpha Bank is the fourth largest Georgios Papandreou, is the Chairman.

On 1 February 2013, Alpha Bank acquired the entire share capital of Emporiki Bank and the legal merger was completed on 28 June 2013.[1]

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.[2]

On 31 March 2014, Alpha Bank successfully completed its Euro 1.2 billion capital increase.[3]

On 17 April 2014, the Bank redeemed the total amount of the Hellenic Republic's Preference Shares.[4]

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.[5]

On 16 January 2015, Alpha Bank requested Emergency Liquidity Assistance (ELA) from the Bank of Greece.[6] Its total funding from the ECB (ELA and non-ELA) is €22.4 bn as at 28.2.2015.

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

Contents

  • History 1
    • In Greece 1.1
    • International expansion 1.2
  • Other 2
    • Listing on the Athens Exchange 2.1
  • See also 3
  • References 4
  • External links 5

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.[7]
  • 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.[8]
  • In 2012, Alpha Bank acquired Emporiki Bank from Credit Agricole for €1.[9]
  • In 2013, Alpha Bank took over the deposits of Cooperative Bank of Dodecanese, Cooperative Bank of Western Macedonia and Cooperative Bank of Evia.[10]
  • In 2014, Alpha Bank took over Citibank's Greek retail banking operations.[11]
  • 31.12.2014: Risk Weighted Assets:€52.6bn,Total loans: €62.3 bn (€52.2 bn in Greek loans, €9.8bn in loans abroad) 33% are Non Performing-46% using European Banking Authority definition, with a 62% Provision coverage and €42.9 bn in deposits. Loan to deposit ratio= 116% Cost to income ratio= 56%

International expansion

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). 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 [12]
  • On March 27, 2008, Alpha Bank reached a deal to buy a majority stake in newly established OJSC Astra Bank[13] 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).[14]

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.[15]

Other

Listing on the Athens Exchange

The company is listed on the Athens Exchange with stock symbol ALPHA; the ISIN is GRS015013006.[7] As of 11 August 2015 the number of securities outstanding and the number of securities listed is 12769059858 (around 12.7 billion).[7] The stock is one of the 25 stocks in the FTSE/Athex Large Cap index (11 August 2015).[16]

See also

References

  1. ^
  2. ^
  3. ^
  4. ^
  5. ^
  6. ^ a b c
  7. ^
  8. ^
  9. ^
  10. ^
  11. ^
  12. ^
  13. ^ Merge and Acquire, The Ukrainian Week (9 October 2015)
  14. ^
  15. ^

External links

  • Official website
  • Alpha Bank stock quote on Bloomberg


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