EBRD has invested in a follow-on equity investment in Alpha Services and Holdings SA in the amount of EUR 7 million.
The Project is part of a EUR 800 million capital increase, which will be utilised in the context of Alpha's recent business plan announcement to (i) accelerate NPE clean up and improve balance sheet strength, (ii) improve operational efficiency, (iii) drive fee and commission income recovery, (iv) capitalise on the significant lending growth opportunity in the Grek banking sector and (v) help with international expansion in Romania.
ETI score: 60
Transition impact stems from the following TI qualities:
- Resilient: Demonstration of successful restructuring
- Well governed: Setting standards for corporate governance and business conduct
ALPHA SERVICES AND HOLDINGS SA
Alpha Services and Holdings is a universal bank operating in Greece. On a consolidated basis it is the third largest bank in Greece out of the four systemic banks with total assets of EUR 70.1 billion at YE2020.
EBRD Finance Summary
Up to EUR 8 million follow-on investment (EUR 65 million investment in 2015).
Total Project Cost
EUR 800 million capital increase.
The aim of the proposed investment is threefold: (i) continue supporting Alpha Bank in its transition from a NPE laden bank to becoming a sustainbly profitbale institution through growth in both Greece and Romania, (ii) send a strong signal to the market that EBRD is supportive of Alpha and its new strategic plan and (iii) safeguard the Bank's investment and avoid significant dilution.
Environmental and Social Summary
Technical Cooperation and Grant Financing
Company Contact Information
0030 210 326 2437
Stadiou 40, 102 52 Athens
PSD last updated
20 Sep 2021
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
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