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Alpha Bank

Greek Banks to Implement Law on 'Bad Loans'

Greek banks are ready to implement the law on "bad loans." This emerged after today's meeting at the government headquarters between Prime Minister Antonis Samaras, government Vice President Evangelos Venizelos, Finance Minister Gikas Hardouvelis, Alternate Finance Minister Christos Staikouras,...

No Surprises in Greek Banks' ECB Stress Test Results

Three out of four systemic banks in Greece have failed their ECB stress tests. The results aren't entirely devastating, however, since the banks' capital needs are minimal and the European Central Bank is willing to re-examine the banks' dynamic balance sheets. “Greece’s Eurobank...

Piraeus Bank and Alpha Bank Pass ECB Stress Tests

According to market estimates, Alpha Bank and Piraeus Bank passed their stress tests with ease. These estimates remain to be confirmed by an official statement, to be released on Sunday. Earlier today, Reuters reported that Alpha Bank has passed the stress...

Alpha Bank Plans to Sell Athens Hilton Hotel

Bloomberg News Agency reported today that Alpha Bank will soon announce the agreement for the sale of Athens's Hilton Hotel, currently the property of Ionian Hotel Enterprises, an Alpha Bank subsidiary. According to Bloomberg, Oaktree Capital Group LLC and Jermyn...

The Greek Companies That Resist Crisis

Despite the dire economic conditions prevailing in the country, some Greek companies were able to withstand the crisis and maintain or even increase their profit. ICAP Group presented the 500 most profitable companies in Greece, based on their published accounts...

Alpha Bank Sheds 21% of Staff Via Voluntary Exit Plan

Greece's fourth-biggest bank, Alpha Bank, announced on Monday that approximately 21% of its 10,000 employees will enter a voluntary exit plan that was launched last month, aiming to cut costs. Alpha Bank's target is to cut 15% to 20% of its workforce in order to...

Rental Prices Drop in Athens

A research conducted by real estate consultancy firm Remax Newdeal, showed that rental prices for small, up to 60 square meters, old apartments, in Athens, Greece, have dropped by 50 % since the recession began in 2008. According to the research, rental prices for...

IOBE Says Greek Economy Will Grow by 0.7%

The Foundation for Economic and Industrial Research (IOBE) reported on Wednesday that the Greek economy should grow by 0.7% this year but the increasing unemployment rate is likely to drop less than originally estimated. IOBE, Greece's leading economic think tank, had earlier predicted a small growth for...

Citi Greece Sells its Retail Banking Activities to Alpha Bank

Citi Greece on Friday announced the signing of an agreement to sell its retail banking services to Greek bank, Alpha Bank, including its Diners Club Greece branch. This deal includes 480,000 clients and gross assets worth 600 million US dollars...

New Chairman for Alpha Bank

Yannis Kostopoulos announced on Thursday his resignation as chairman of Alpha Bank, one of Greece's four systemic banks. His resignation is expected to be accepted at the scheduled meeting of the Board of Directors of the Bank.  He would be succeeded by...