Today (21.5.2025) the annual regular general meeting of its shareholders was held Alpha Bankin which the bank’s CEO, Vasilis Psaltis, pointed out the success of strategic movements that brought strong profitability in the bank.
“Since 2019, when we were elected to the Alpha Bank administration, we found ourselves in front of a bank that had to survive by cleaning its balance sheet of red loans, but also regaining market confidence, return to profitability and, after all, to go back to profitability. The success of this route was not given. Each step has demanded strategy of clarity, courage in decisions, operational discipline, and a high level of cooperation, “Vasilis Psaltis said.
He stressed that “this recovery was not the result of circumstances. It was the result of strategic choices, systematic work, and deep faith in the dynamics of the bank and its people. By pressing on the foundations of the past, we built a strong, reliable and competitive bank. ” Alpha Bank’s CEO emphasized that the bank managed to present the best financial results of its history in the first quarter of 2025, in just five years, even quadrupling the dividend for its shareholders.
“For the first quarter of 2025, customized net profits amounted to EUR 239.3 million, up 22% on a quarterly basis and 8% annually – a clear example of our stable potential. Simply put, distributions to shareholders in 2025 are expected to be almost four times more than 2023, and even in an environment of downfall, “Vasilis Psaltis noted.
At the same time, Mr. Psaltis referred to a new era for the group with the forthcoming merger of Alpha Bank with Alpha Services and Holdings. “Completing the merger with Alpha Services and Holdings on June 30, 2025, is expected to mark a new era for the group.” At the same wavelength, the chairman of the Board of Directors In the added value given to Alpha Bank’s development potential, recent acquisitions. “Along with the strong performance, we have enhanced the value of the services we offer to our customers through targeted acquisitions. In Cyprus, we have acquired Astro Bank, a transaction that is expected to have a positive impact on revenue per share, consolidating our position as a third largest systemic bank in the country and doubling our profitability. We also acquired FlexFin, a digitized Factoring Platform for Small and Medium Enterprises, which are the backbone of the Greek economy. Finally, the bank acquired Axia Ventures’ total share capital, with the aim of creating a strong investment bank platform in Greece and Cyprus, “Mr Tsitsiragos said.
The Chairman of the Board of Directors He noted that the bank’s development is being carried out in parallel with the development of the Greek economy in a period of geopolitical uncertainty and challenges in the international market.
“Our goal is to actively support the Greek economy, achieving a strong increase in the volume of lending, as well as a sustainable rate of income revenue, while profits per share will remain steadily upward. We maintain, of course, our commitment to continuous rewarding the reward of our shareholders and to provide a top service experience to our customers, placing Alpha Bank at the forefront of the European banking industry, “Mr Tsitsiragos said.
Year of acceleration in 2025 in collaboration with Unicredit
Alpha Bank has benefited for the last two years since the strategic collaboration with Unicredit, which has brought substantial and measurable results. “This collaboration, which transcends the trade agreement, is strategic and long -term, offering new opportunities and access to new markets,” added Alpha Bank CEO, Vassilis Psaltis, and stressed that 2025 will be a year of acceleration of this partnership, listing some of the key priorities for this year:
- Strengthening our common presence in international funding, bond issues, as well as consulting services in the field of acquisitions.
- The development of new functional infrastructure, mainly in the field of Transaction Banking,
- The expansion of Alpha Asset Management’s Investment Products in European markets through the Unicredit network, as well as the continuation of the dynamic promotion of the Onemarkets Fund in the Greek market.
“All of these initiatives are not individual moves. They make up a stable and ambitious development framework for the coming years. Collaboration with Unicredit is for Alpha Bank one of the strongest strategic pillars of our future. For us, this collaboration is not just an option. It is a significant to the future, “said Mr Psaltis. New era for Alpha Bank
The Group’s CEO also referred to the bank’s strategic plan for the coming years, which focuses on enhancing competitiveness and expanding its activities to new markets. At the same time, he stressed that the bank is making radical changes, renewing its functional model in retail and boosting its leadership position in Wholesale.
“We aim to accelerate digital transformation, offering a personalized bank experience and using technology to serve man, while aspiring to be a credible partner for businesses and private and institutional customer profiles, offering holistic cooperation and solutions.”
Vasilis Psaltis gave the bank’s targets for the bank, noting that “change is not just about strategies, financial results or technological capabilities. It starts deeper, from Alpha Bank’s culture, the way we work together, how we face the challenges and move forward. ” As he said, the goal is to form a bank that is not only limited to business excellence, but focuses on the essential supply of value to customers and society. “The bank’s strategy focuses on strengthening clients’ partnership, offering holistic solutions mainly in business banking, while participating in economic and social progress, taking initiatives such as intervention in public dialogue on housing in Greece.
Our goal is for Alpha Bank to promote a high performance culture while rewarding talents and forming an organization that incorporates excellence and responsibility in order to meet the challenges of the future, “Mr Psaltis underlined. For his part, Mr. Tsitsiragos made a special mention in corporate governance, in which Alpha Bank pays particular attention. “We emphasize the implementation of high corporate governance standards, with the priority being harmonized with the legislative and regulatory framework, as well as the best international practices. The number of independent members on the Board of Directors is maintained well above the minimum permissible limit and is 64%. In addition, the percentage of women on our Board of Directors is 45%, while 50% of the chairman in the Board of Directors are women, “the chairman of the Board said. He also stressed that Alpha Bank is also at the forefront of corporate responsibility. “Corporate social responsibility is a pillar of our strategy.
The IQonomy program, which provides educational tools to young people, and the ‘Health’ program ‘with the aim of health’, which supports the upgrading of the health sector, are just two of the many actions we undertake to support society. We are present at every great moment or need.
Actively participating in the restoration of infrastructure in Thessaly and Rhodes and supporting citizens and businesses affected. As a responsible social partner, we incorporate sustainable development and social responsibility into our strategy, confirming our commitment to a world fairer and sustainable, “Mr Tsitsiragos noted.
The renovated stadium building marks the new era made by the CEO of the Group and the renovation of the bank’s central building and renew its image according to its strategic choices.
As the change pointed out, it is not aimed at conflicting with tradition, but it is the natural continuation of a bank that has been identified with the private sector and entrepreneurship over time and adapts to the demands of the new era. The renovation of the historic building in Stadium 40 is a strategic investment that produces value today and in the future: “It is an essential investment in the future work environment: an open, flexible, and modern environment that embodies the principles of transparency, cooperation and evolution,” A new point of reference, not only for the bank but also for Athens itself. “
Bank CEO, Vasilis Psaltis, stressed that the new Alpha Bank is already here, with a new corporate purpose of ‘supporting progress in life and entrepreneurship for a better tomorrow’ and a new corporate culture. “This cultural transformation within the bank was not a communication exercise. It was the crowning of a long journey, from the difficult years of the crisis, in the period of stabilization and, now, in the age of development, “Mr Psaltis said, stressing that this period is not just another chapter on the Alpha Bank route but a turning point – from the management of crisis, from a new year of redemption.
As Mr Psaltis pointed out, the new Alpha Bank is moving with a clear strategic orientation, strong profitability and aiming to constantly boost the value for shareholders. He presented the strong financial sizes and clear goals of the bank: • Historically high profitability, with Euro239 million net profits in the first quarter of 2025 and the performance of the same equity at 15.4%.
- Profit target per share of € 0.45 by 2027, increased by 7% compared to previous estimates.
- Average annual profits increase of 11% for the period 2026-2027, based on resistant net interest revenue, increased supplies and continuous organic growth.
- Dividend distribution of at least 50% of net profits, while maintaining strong capital adequacy and flexibility strategy. The dividend of 2025 is expected almost four times as compared to 2023.
- Estimated yield on 13% by 13% by 2027, enhancing the value for shareholders in the long run.
“For the last five years we have done what we needed to stand on our feet again. Now, we do what is needed to move forward. Faster. More decisively. More competitive. To become the first choice of our customers, the constant value for our shareholders, the attractive employer for our people, and a responsible institution for society, “concluded Mr. Psaltis.