OR Unicredit It makes its imprint even more powerful in Greece, increasing its participation in Alpha Bank by about 5% and raising its total rate to about 26%.
This development is part of the supervisory approvals already requested by Unicredit to reach up to 29.99% of Alpha Bank’s share capital, while its position above 9.99% continues to be maintained through financial derivatives until the relevant approval by the competent authorities will be held.
Increasing participation is not just an investment move. It is reported that it is replaced by the strategic importance for Unicredit by collaborating with Alpha Bank and its confidence in the prospects of the Greek economy.
A cooperation that already performs
The strategic cooperation between the two groups, which started less than two years ago, has become one of the most dynamic development pillars for both sides. The synergies created now cover a wide range of banking: Asset and Wealth Management, Transaction Banking, Trade Finance, Advisory, International Consortium Loans and Bancassurance. Already, these areas, as noted, deliver tangible results, enhancing profitability and improving the experience of thousands of customers in Greece and in international markets. This collaboration enables Alpha Bank to exploit Unicredit’s know -how and international network, while Unicredit benefits from the strong presence and historical relationship of Alpha’s trust with the Greek and Cypriot market.
Andrea Orcel: ‘far beyond expectations’
Announcing the further increase in Alpha Bank, Unicredit Managing Director Andrea Orcel commented: “Our investment in Alpha has paid far beyond expectations and continues to be a focal area of growth for our group. Strong and mutually beneficial cooperation has benefited our customers, shareholders and people equally, and the best are in front of us. This collaboration is a clear proof of what Unicredit’s “federal” approach to other financial institutions that lead in their countries in Europe can offer. Our relationship with Alpha and the quality of its people remain the cornerstone of its future and our future success. We are grateful to the Greek Government, the Bank of Greece and the other Greek institutions for their warm welcome, encouraging our investment and their constant, immediate, open and constructive cooperation with us.
Vassilis Psaltis: “Vote of Confidence and Perspective”
For his part, Alpha Bank’s chief executive Vassilis Psaltis stressed: “We are particularly pleased with Unicredit’s decision to further increase its participation in Alpha Bank, a development that is a tangible confirmation of the tangible results of our strategic cooperation, and a strong vote of our bank. We are systematically working with our strategic partner with the aim of creating value for our customers and shareholders, taking advantage of the extensive international presence of Unicredit and opening new horizons for cross -border cooperation and development. Our relationship also highlights how closer cooperation among the leading European banks can contribute to the formation of a more durable and competitive European financial sector. Together with Unicredit, we remain committed to enhancing the growth and transformation of the Greek and Cypriot economy, while contributing to the deepening of European banking integration for the benefit of our shareholders and customers. “
The increase of 26% is another step on the route on the route of Unicredit, as it has applied for license by the supervisory authorities to reach 29.99% to Alpha Bank. Completion of this process will result in Unicredit unifying almost one -third of Alpha Bank’s net profits in its own results, signaling even closer strategic connection between the two groups. Along with the strong stock performance and the increasing interest of international investors in Alpha Bank, it is recalled that the bank is starting in the next few days the € 211 million shares for the use of 2024, showing its strong capital position and their attachment.
A collaboration – Guide for Europe
The Alpha Bank – Unicredit relationship, as noted, evolves into a model of European Banks cooperation: it combines the power of local presence with the added value of international experience, serving customers, shareholders and societies. At a time when Europe is seeking more convergence and enhancing its competitiveness, this collaboration shows how national champions can become part of a wider, more powerful European banking ecosystem.