AN OLYMPIC PRESENCE

Alpha Bank is the second largest bank in Greece, with an impressive presence in both the domestic sector and abroad

Alpha Bank is the second largest bank in Greece and enjoys a considerable presence in the countries of Southeastern Europe as well as in London. At the end of 2002, its market share among all Greek commercial banks stood at 19%. Among its considerable comparative advantages are its extensive and modernized branch network covering the entire country, and its broad customer base.

Mr. George A. Provopoulos, Chief Economist at Alpha Bank, states, “Alpha Bank is one of the most successful banks in Greece. We have a balanced geographical presence not only in this country, but also in the wider region of Southeastern Europe.”

Since the bank’s merger in the year 2000 with Ionian Bank, it has undergone extensive restructuring and modernization, while diversifying its portfolio of services and products. Accordingly, Alpha Bank’s market share in key sectors, such as housing loans, has increased substantially. The bank registered a 2002 rise in housing loans of 91%, and not undeservedly; intense market investigation and efforts to create superior products have resulted in the creation of new pioneering housing loan programs for the country.

Alpha Bank has also expanded its share of the small and medium-sized enterprise market, which continues to be a focus, and has developed new competitive insurance products. In the ‘plastic money sector’, the bank holds a leading position in the Greek market, offering a number of well-designed card products for both individual and corporate use.

Another important aspect of Alpha Bank’s activities has been its expansion into Southeastern Europe, where it now has one of the largest foreign financial presences. The bank’s vision is to become regional leader and Alpha Bank branches are now to be found in Cyprus, Romania, Bulgaria, Albania, FYROM, and Serbia. The bank believes that the Balkans offer great potential for Greek companies and that the strengthening of these economies as they work their way towards EU accession will bring increasing opportunities.

Mr. Provopoulos comments, “In terms of opportunity, I would place Romania and Bulgaria at the top of the list, not only because they have the largest populations, but also because they are at a level of economic transition that is higher than others in the region. However, overall, I think Turkey has the biggest growth potential, as it has a large and young population.”

Alpha Bank is the official bank of the 2004 Olympics in Athens, as well as a Grand Sponsor, which will result in wide international exposure for the company this year. In the run up to 2004, the bank has been busy in the creation of Olympic banking products and in the sponsorship of the preparation and training of the Greek national team.