Alpha Bank Guide, Meaning , Facts, Information and Description

Alpha Bank is the second largest bank in Greece with 450 branches throughout the country. It also has a subsidiary in London and branches and subsidiaries throughout the Balkans (see "International expansion" below).

Table of contents

1 History 2 Website 3 See Also

History

• 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 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 and Popular Bank.
• In 2000 ACB absorbed the Ionian and Popular Bank. In the same year ACB changed its name to Alpha Bank.
• In 2002 Alpha Bank attempted merger with National Bank of Greece fell through.

International expansion

• 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 the Balkans.

• In 1993 Credit Bank and the EBRD established Banca Bucuresti 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) and renamed it Alpha Credit Bank London.
• In 1996 ACB established a branch in Tirana, Albania, and followed that with three more branches.
• In 1997 ACB established Alpha Credit Bank Jersey to promote private banking services.
• In 1998 ACB acquired 82.5% of Lombard NatWest Bank in Cyprus and renamed it Alpha Bank Ltd.
• In 1999 ACB acquired 65% of Kreditna Banka, Skopje, Macedonia (aka Former Yugoslav Republic of Macedonia). It now owns 84%.
• In 2000 Banca Bucuresti 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 Moldavia.
• Alpha Bank also has three branches in Serbia and Montenegro and a branch in Sofia, Bulgaria.

Website

Alpha Bank's homepage

See Also

List of banks in Greece

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