140 Years of presence in the economic life of the country

The J.F. Costopoulos commercial firm founds anew a  banking Department, based in Athens.

The Bank of Kalamata is merged with the banking Department of the J.F. Costopoulos commercial firm, thereby creating a new banking institution called ''Banque de Crédit Commercial Hellénique''. The new Bank’s registered office is located in Athens.

The special feature in the composition of the new Bank is the significant involvement of textile merchants like Vassileios G. Akrivos who becomes Chairman of the Board of Directors, Andreas P. Mantzounis, one of the leading manufacturers in the textile industry and Eftychios C. Lyginos a major fabric merchant and manufacturer.

The eldest son of John F. Costopoulos, Demetrios (Mimis) J. Costopoulos becomes Executive Director.

The Banque de Crédit Commercial Hellénique develops a regional network of Branches in the Peloponnese.

Resignation of the Executive Director of the Bank Demetrios (Mimis) J. Costopoulos due to his election to the first Board of Directors of the Bank of Greece. His position is assumed by his brother, Panos J. Costopoulos.

The Bank moves into the new Building, which it owns, at the corner of Stadiou and Pesmazoglou Streets in Athens.

Georgios K. Iatrou, Deputy Governor of the National Mortgage Bank, is elected Chairman of the Board of Directors.

With the outbreak of the Greek-Italian War, the Bank participates in a number of charity collections.

The first Sub-branch of the Bank in Athens is established in Monastiraki Square; it will be destroyed by fire during the events of December 1944.

The foundation of the subsidiary Company ''La Commerciale'' S.A. d’ Assurances Générales marks the early entry of the Bank into the insurance market.

The General Manager of the Bank Spyros J. Costopoulos is elected Chairman of the Board of Directors.

The Bank was one of the few credit institutions that managed to survive the insurmountable wartime difficulties.

The Bank secures a firm presence in Thessaloniki with the construction of a privately-owned building at Mitropoleos Street, which houses the Main Branch of the city.

In a systematic effort to reorganise the responsibilities of the Divisions, the Bank establishes a new structure articulated around six Central Divisions.

On the death of Stavros J. Costopoulos, his brother Spyros J. Costopoulos is elected Chairman of the Board of Directors, while retaining his responsibilities as Managing Director of the Bank.

Yannis S. Costopoulos is elected member of the Board of Directors of the Bank and Fotis P. Costopoulos follows a few months later.

Inauguration of the extension of the Main Building facilities of the Bank in Athens, an event that coincides with the 90th anniversary of the Bank.

Spyros J. Costopoulos is succeeded by Fotis P. Costopoulos as the Chairman of the Board of Directors of ''La Commerciale'' S.A. d’ Assurances Générales.

Yannis S. Costopoulos is named Managing Director.

Change of name of the Bank from ''Commercial Credit Bank'' to ''Credit Bank''.

Introduction of the new corporate logo that derives from the reverse of the first coin in Greece which was struck in Aegina. The obverse of the coin depicts a sea turtle, because of the island’s naval power, while the reverse portrays an irregular incuse square divided with prongs into quadrants.

With the establishment of the Iraklion Branch in Crete, the Bank achieves presence in the 10 major cities of the country.

In the context of the new corporate identity the Bank inaugurates the ''rural service'' with the launch of Mobile Branches serving remote areas. This original method for directly providing banking services to the public will be widely employed until the 1990s.

A new management structure is established which takes into account the growth perspective of the Bank.

The completion of the new corporate identity offers the opportunity to introduce innovations into the Bank’s operations and to promote the modern banking concept.

Participation in the first Mutual Fund ''Delos'' brokered through an ever-growing network of Branches. 

Demetrios P. Mantzounis begins his career at the Bank in the Loans Section of the Main Branch.

The first Foreign Exchange Centres are established in central Athens.

The Bank acquires a 25% stake in the share capital of Diners Club of Greece S.A., thus being included in the circle of large foreign banks that participate in the capital of the respective Diners Club of their countries.

The development of the Network of Foreign Exchange Centres of the Bank proceeds apace with a presence both at central points in Athens and in tourist areas in the provinces.

The decision of the Bank of Greece to allow the granting of student exchange solely from commercial banks enables the Bank to establish the Student Foreign Exchange Card which constitutes an innovation in banking transactions.

The new structure of the General Management of the Bank is approved which establishes the position of Assistant General Manager. The respective responsibilities are assumed by Ioannis E. Papoutsis.

A state-of-the-art system for on-line transactions is introduced rapidly for all Savings accounts applications. By the end of the year, it covers 20 Branches. 

Membership in the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and link with the Reuters economic information system. 

The Network of the Bank now reaches the number of 65 Branches.

The celebration of the Centenary since the founding of the Bank provides the opportunity for numerous promotional actions.

On the occasion of the anniversary, the Bank publishes the commemorative album ''The Banknotes of Greece from 1828 until the Present Day''. The book presents the economic history of the country through the Greek banknotes.

On the occasion of the 100th anniversary of the Bank its Chairman Spyros J. Costopoulos along with his wife Eurydice make an endowment to establish the J.F. Costopoulos Foundation. The purpose of the Foundation is to support and promote the Greek culture in Greece and abroad.

The foundation is laid for the new Main Building of the Bank.

The subsidiary Company ''Alpha Computers A.E.'' is established. It is the first company of the Group to introduce the word ''Alpha'' in the vocabulary of the Bank. A few years later (1986), it will become the first company to provide leasing services in Greece. In 1989, it will be renamed as ''Alpha Leasing S.A.''.

The Bank is the first to enter the age of the automation of transactions by introducing the on-line/real-time system that offers its Clients the possibility for automatic withdrawal and deposit of money.

The new multi-storey building of the Bank in Thessaloniki is inaugurated. It is the seat of the Northern Greece Branch Division and also the most important hub of the electronic network.

A subsidiary portfolio Company is founded under the name ''Sperchoghia A.E.''.

The structure of the General Management of the Bank is expanded with the establishment of the position of Deputy General Manager who will assist the General Manager in his duties. This position is assumed by Constantine A. Kyriacopoulos, until then an Executive of the Commercial Bank.

The first Automated Teller Machines (ATMs) are installed and the first network of automated transactions in Greece is created. 

The subsidiary Company ''Credit Investments A.E.'', a portfolio investment company, is founded.

Spyros J. Costopoulos, who contributed creatively to the development of the Bank over a period of 70 years, is proclaimed Honorary Chairman.  

The Managing Director Yannis S. Costopoulos is elected Chairman of the Board of Directors and General Manager of the Bank.

The first phase of the construction of the new Main Building at 40 Stadiou Street, Athens, is completed. The technical characteristics of this building make it a significant achievement of contemporary technology.

The first network of Personal Computers is installed, which soon extends to all the services of the Bank.

The establishment of the Efstathia J. Costopoulos Foundation is announced, during the official inauguration of the new Main Building on 20.2.1987, as a contribution to the reconstruction of the city of Kalamata which was struck by earthquakes in 1986. The purpose of the Foundation, named in memory of the spouse of the founder of the Bank, is to operate a model nursery school known as ''Yaya’s Garden''.

Always at the head of innovative banking technology, the Bank installs a new advanced IT System in order to respond to the growth of its business. 

The Bank inaugurates a service for the underwriting of share issues on the Stock Exchange that very soon attains a dominant position in the market.

Cashcard Visa is issued, the first bank and credit card in Greece that combines a credit card with a card for the deposit and withdrawal of cash.

The subsidiary Company ''Alpha Finance'' is founded. It is the first company in Greece to provide merchant, banking and investment banking services.

The Bank, a pioneer in the field of electronic banking services, inaugurates the Alphaphone system which allows Customers to conduct banking transactions solely by using a telephone device.

Inauguration of the Bank’s presence in London with the establishment of a Representative Office, which a few years later (1993) will develop into a Branch.

The Bank participates along with the Theodoridis brokerage firm in the foundation of ''Alpha Brokerage''; the first company that became a member of the Athens Stock Exchange.

The second phase of the construction of the new Main Building is completed with the creation of the most contemporary banking building in the country.

The Bank introduces a new service, Alphalink, the first system in Greece for payments and the automated approval of card transactions through POS (Point of Sale) terminals.

In cooperation with Alpha Finance, the Bank establishes the subsidiary ''Alpha Mutual Fund Management Company''.

Creation of the Companies ''Alpha Ventures A.E.'' and ''Alpha Business Promotions A.E.'' which specialise in the supply of venture capital. In 1998 the two Companies are merged forming a new company under the name ''Alpha Ventures''.

The subsidiary portfolio investment Company ''Sperchoghia A.E.'' is renamed ''Alpha Portfolio A.E.'' and a few years later (1993) is absorbed by “Alpha Investments” which, thus, becomes the largest portfolio investment company in Greece.

Introduction of the innovative product Alphaline, the first system in Greece of on-line banking services via Personal Computer.

The on-line ATM network, the most extensive in the country, is made available 24 hours a day.

The Bank extends its activities in Client portfolio management, offering for the first time private banking services.

The issue of Cashcard-Debit begins. It was the first debit card in Greece without a purchase limit.

The Bank announces that it will use ''Alpha Credit Bank'' as its company name abroad. Shortly thereafter the equivalent Greek name ''Alpha Trapeza Pisteos'' is adopted.

The presence of the Bank in the UK is consolidated with the acquisition of the Commercial Bank of London PLC (as the Commercial Bank of the Near East had been renamed in 1990). The bank will be incorporated into the Group as Alpha Bank London. 

Foundation of the ''Banca Bucuresti'' as a result of a collaboration among Greek businessmen, Alpha Finance, the European Bank for Reconstruction and Development and the Bank. Alpha Credit Bank was the first foreign bank to enter the banking market of Romania.

In cooperation with the Bank of Cyprus, the Bank will proceed to found ''ABC Factors'', the first factoring company in Greece.

The design of the new corporate identity is completed: the name, the colours and the appearance refer to the Bank’s nationality as well as to the dynamism, the size and the wide range of the services of Alpha Credit Bank and its Group Companies.

The Bank becomes the exclusive franchiser for issuing and acquiring American Express cards, one of the most distinguished plastic money products in the world.

Promotion of the Bancassurance programmes, pioneer products for the Greek insurance market.

Expansion of activities in the field of shipping financing with the establishment of a specialised Branch in the port of Piraeus. 

The Bank commences operations in Albania, initially with the establishment of a Branch in Tirana and then by expanding its activities and establishing Branches in all the major cities of the country.

A major exhibition entitled ''The Glory of Byzantium'' is presented at the Metropolitan Museum of Art in New York. The exhibition refers to the Byzantine art of the Second Golden Age of the Empire from 843 AD to 1261 AD. The Bank is the main sponsor of this exhibition showcasing over 350 exhibits from more than 20 countries which was visited (from 11 March until 6 July) by more than 500,000 people.

In a pioneering move, the Bank inaugurates for the first time in Greece the service ''Alpha Web Banking'' which opens up the possibility for banking transactions via the Internet.

Planning begins for the reengineering programme ''Proteus 21'' to transform the Branches into points of sale for banking and financial products.

Expansion into Cyprus with the acquisition of ''Lombard NatWest Bank Ltd'' which will later be renamed ''Alpha Bank Limited'' and in 2007 ''Alpha Bank Cyprus''.

The Bank’s Network now reaches the number of 212 Branches. At the same time the ATM network is one of the most extensive in Greece.

Alpha Credit Bank acquires the majority of shares of the ''Ionian and Popular Bank'' thereby laying the foundations for the creation of a large private, healthy and dynamic Greek banking Group. The Ionian and Popular Bank of Greece came into existence through a merger between the Ionian Bank and the Popular Bank in 1958. The Ionian Bank, the oldest banking institution on Greek territory, was founded in Corfu in 1839 and retained the exclusive right to issue banknotes until 1920. In 1938 it acquired the majority of shares of the Popular Bank, owned by the Loverdos brothers. The Popular Bank had been founded in Athens, in 1905.

''Emporiki Insurance'' merges with ''Hellenobretanniki Life Company'' and ''Hellenobretanniki General Insurances Company'' to form ''Alpha Insurance Company''.

Expansion into the market of the Former Yugoslavian Republic of Macedonia with the acquisition of the majority of shares of ''Kreditna Banka'', the fourth largest bank in F.Y.R.O.M., which was later renamed ''Alpha Bank A.D. Skopje''.

The Regulatory Authorities approve the absorption of the ''Ionian Bank'' by the ''Alpha Credit Bank''. The new enlarged Bank operates under the trade name ''Alpha Bank''.

Another innovative service of the Bank is inaugurated, Alpha Bank m-Banking, through which Customers can perform banking transactions via their mobile phone.

The Sofia Branch, which was founded in 1995 by the Ionian Bank, is upgraded and restructured. Subsequently, the Bank’s presence in Bulgaria is enhanced through the development of a large Branch network.

The demanding project of merging similar-purpose subsidiary Companies previously belonging to the Alpha Credit Bank and the Ionian and Popular Bank is completed successfully and within the very short term of one year. The only Company that was not merged, as a result of its business activities, was the ''Ionian Hotel Enterprises'' which had been established in 1957. 

The Bank becomes a ''Grand National Sponsor and the Official Bank of the Athens 2004 Olympic Games''. This is the largest sponsorship in the Greek banking history.

The subsidiary Company ''Alpha Brokerage'' is renamed ''Alpha Finance Α.Χ.Ε.P.Ε.Υ.'', providing investment banking services. Subsequently, it is absorbed by ''Alpha Bank''.

Foundation of the subsidiary Companies ''Alpha Asset Management'' and ''Alpha Investment Services'' dealing with portfolio management for private individuals and institutional investors.  

In order to effectively meet the growing demands of the time, the administrative structure of the Group is amended; The Executive Directors, Constantine A. Kyriacopoulos and Demetrios P. Mantzounis assume the responsibilities of General Manager.

After two years the reengineering of the Branches of the two Banks and their consolidation into one integrated Network is completed resulting in 419 Units in Greece and 61 abroad. 

The ATM network of the Bank is the second largest of all the Greek banks with 768 machines in Greece and more than 50 in the countries of Southeastern Europe.

The renovation-refurbishment of the Ionian Bank building is completed, restoring the architectural form it possessed at the time it was first built in the second decade of the 20th century.

Expansion into the Serbian banking market with the establishment of a Branch in Belgrade. Two years later, the majority of shares of ''Jubanka a.d. Belgrade'' is acquired and it is renamed "Alpha Bank Srbija A.D.".

All the stages of the four-year sponsorship project of the Bank for the Athens 2004 Olympic and Paralympic Games are completed successfully. More than 450 Employees of the Group contributed voluntarily to their proper preparation and organisation.

The first American Express Blue card in Europe is introduced. This card incorporates a technologically advanced smart chip that offers increased security for transactions.

The Bank sponsors a great exhibition entitled ''Byzantium: Faith and Power (1261-1557)'' at the Metropolitan Museum of Art in New York from 23 March until 4 July with the additional support of non-profit charitable institutions, among which the J.F. Costopoulos Foundation.

Yannis S. Costopoulos is elected Executive Chairman of the Bank. Demetrios P. Mantzounis, previously a General Manager of the Bank, is elected Managing Director - CEO.

Commemoration of the 125 years from the establishment of the J.F. Costopoulos commercial firm, the starting point of Alpha Bank, and 165 years from the incorporation of the Ionian Bank. 

On the occasion of the anniversary, the exhibition ''The Alpha Bank Collection: Paintings, Prints, Sculptures'' is presented at the Benaki Museum (Pireos Street Annexe) from 12 October until 20 November. Part of the most important artworks of the Alpha Bank Collection, which comprises two individual collections (that of the Credit Bank and that of the Ionian Bank), is showcased to the public for the first time. The exhibition is accompanied by a publication of the same name in Greek and English.

Re-opening, after a complete renovation, of the Banknote Museum of the Bank in the listed building that housed the first Branch of the Ionian Bank in Corfu.

''Alpha Mutual Fund Management Company'' absorbs ''Alpha Asset Management''.  

The subsidiary Company Alpha Insurance is sold to the AXA Group, one of the largest insurance groups in the world. The transfer of shares is completed in 2007 and the Bank signs an agreement for long-term exclusive cooperation with AXA for the provision of insurance products through its Branch network.

Inauguration of the Alpha Bank Cultural Centre at Nafplio. The specially configured floors of this building, which is owned by the Bank, house exhibitions of artworks and ancient coins taken from the Alpha Bank Collections.

The Bank is the leader among the Greek banks in the area of Business Credit. Four Commercial Centres are already operating successfully and another six are scheduled to commence operations.

The model Training Centre of the Bank in Aghios Stefanos is established, which will cover the contemporary requirements of further training for the Personnel of the Bank.

The Bank, a pioneer in the use of modern technological means, improves and extends the use of alternative banking networks in order to provide better customer services in transactions. 

Expansion into the banking market of the Ukraine through the acquisition of the majority of shares of the newly established Ukrainian bank OJSC Astra Bank.

The Network of the Bank in Greece and abroad now exceeds 1,000 Units.

Celebration of the 10th anniversary of the establishment of the Bank’s presence in Albania and Cyprus.

Celebration of the 130th anniversary of the establishment of the Bank and the proclamation of Sofia as the capital of Bulgaria. Inauguration of the exhibition ''Experience Sofia - 130 years capital''.

Alpha Bank proceeds, as of October 2009, to a restructuring of its organisational model, in order to adapt to changes in the economic environment and be better positioned to pursue the opportunities that will arise. 
The changes brought about through the new organisational model of the Bank are centred on three main pillars: 

• Enhancement of the structure by the establishment of the position of Chief Operating Officer aiming to the further strengthening and prospective development of the Bank.
• Establishment of a new operational model for international activities.
• Streamlining and simplification of hierarchical levels.

After ten years as a Grand Sponsor, Alpha Bank concludes its support of the Athens Classic Marathon, which in 2010 celebrated the 2,500th anniversary of the Battle of Marathon.

ALPHALIFE commences operations in the field of insurance.

On February 1, 2013, pursuant to the acquisition agreement of October 16th, 2012, with regards to the sale of Emporiki Bank S.A. from Crédit Agricole S.A. to Alpha Bank A.E., and the approvals by the Greek and Cypriot Central Banks and anti-trust authorities, the entire share capital of Emporiki has been transferred to Alpha Bank by Crédit Agricole.

Alpha Bank completes its successful recapitalisation, on May 31, 2013, with oversubscription of the required private – sector participation in the Rights Issue, which resulted in the preservation of the Bank’s private character.

On June 28, 2013, Alpha Bank announces the completion of the legal merger by absorption of Emporiki Bank by Alpha Bank.

Alpha Bank announces the completion of a share capital increase of Euro 1.2 billion through a private placement with qualified investors.

On May 2014, the Board of Directors of the Bank elected, in replacement of Mr. Yannis S. Costopoulos, Professor of University of Athens Mr. Vassilios T. Rapanos. The annual Ordinary General Meeting of Shareholders of Alpha Bank, conferred upon the outgoing Member and Chairman of the Board of Directors, Mr. Yannis S. Costopoulos, the title of Honorary Chairman of the Board of Directors of Alpha Bank.

On April 17, 2014, Alpha Bank announces the redemption of the Hellenic Republic’s Preference Shares, issued by the latter by the Bank.

On September 30, 2014, Alpha Bank announces the acquisition of the Greek Retail Banking Business of Citibank, including Diners Club of Greece.

On October 2014, Alpha Bank successfully completed ECB’s Comprehensive Assessment.

In October 2015, Alpha Bank affirmed its strong capital position, as it posted the lowest capital requirements, under the baseline scenario, among all Greek banks reviewed in the framework of the European Central Bank’s Comprehensive Assessment. In November 2015, Alpha Bank was the first of the four Greek systemic banks to successfully complete a Euro 2.563 billion Share Capital increase, with no use of State aid, exclusively through private placement to Greek and foreign private
investors.

On July 17, 2015, Alpha Bank A.E. and Eurobank Ergasias S.A. announced the main business terms of the agreement on the transfer of the operations of Alpha Bank’s Branch in Bulgaria to Eurobank’s subsidiary in Bulgaria, Eurobank Bulgaria AD.

The key projects involving the operational integration of the former Citibank Network in Greece with the Network of Alpha Bank and the migration of the Diners Club cards to the Bank’s Systems, were successfully completed in the second half of the year.

On January 23, 2015 the entire share capital of “CARDLINK Societe Anonyme for the Management and Operation of Electronic Transactions Networks” (Cardlink S.A.), held by Alpha Bank A.E. and Eurobank Ergasias S.A. at 50% each, was sold to a company of the Quest Holdings Group.

Alpha Bank fully upgraded its Alpha Web Banking and Alpha Mobile Banking services receiving four major distinctions in the 2016 Lighthouse e-volution awards.

In May 2016, an agreement with KKR Credit was reached pertaining to the active management of selected Wholesale Non-Performing Exposures.

In May 2016, the sale of 100% of Alpha Bank A.D. Skopje to Silk Road Capital, was completed.

In December 2016, the Bank concluded the sale and transfer to Home Holdings S.A., of its approximately 7.3% stake in the share capital of the Athens Exchange-listed company “Ionian Hotel Enterprises S.A.” .

In December 2016, Alpha Bank successfully completed an SME securitisation transaction, achieving medium term funding of Euro 320 million, by placing Senior Notes to the European Investment Bank, the European Bank for Reconstruction and Development (EBRD) and an International Investment Bank.

Alpha Bank was one of the four Greek systemic banks to sign an agreement with the European Investment Bank for the support of SMEs and Mid Cap Enterprises.