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Wednesday, April 17, 2024

New beginning of Alpha Bank in Cyprus

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Νέο ξεκΙνημα της Alpha Bank στην ΚΙπρο

Greek banks are consolidating their presence in Cyprus, providing a vote of confidence in the Cypriot economy, as they see opportunities and perspectives created on the island, so that it becomes an international business center and gateway from the East to Europe.

Alpha Bank Cyprus, which has been active in Cyprus since 1998 and is now starting a new period of extroversion, is now more strongly present in the Cypriot market. /strong>in the domestic market, which was marked by the meeting of the top management of the Greek parent group with the political leadership of Cyprus.

As it turns out, Cyprus is for the subsidiaries of the Greek banks a strong pillar of growth and is a key part of the strategies of the parent groups, which have gone through a period of extroversion due to the moves made to consolidate their balance sheets, mainly by selling non-performing loans and reducing staff and stores.

The great importance that the Alpha Bank Group attaches to the possibilities of development and the positive prospects of the economy of Cyprus was highlighted by the series of meetings held by the chairman of the Board of Directors. Vasilios Rapanos, the managing director of the Group, Vassilis Psaltis, executives from Greece and Cyprus, from February 12 to 14, with the President of the Republic, Nikos Christodoulidis, the Minister of Finance, Makis Keraynos and the Governor of the Central Bank, Konstantinos Herodotou.

According to a statement from the bank, Mr. Psaltis emphasized that Alpha Bank Group believes in the significant potential and positive prospects of Cyprus and its economy, which is achieving high growth rates and demonstrating great resilience, in a period of increased international challenges.

He expressed the group's support for the Government's efforts to promote Cyprus as an international business center. At the same time, he praised the catalytic role of Mr. Christodoulidisand of his Government in the positive course recorded by the Cypriot economy and thanked him for the constructive dialogue achieved in the discussions on non-performing loans (NPLs).

“For Alpha Bank Group, Cyprus is a important market, not only because of the unbreakable ties that connect it with Greece, but also because it has all the potential to become an international business center, developing into a gateway from the East to Europe.

We are here to emphasize our will to contribute to this development narrative through the further strengthening of Alpha Bank Cyprus, leveraging our experience as an entrepreneurial bank in Greece and our strategic partnership with UniCredit, which allows us to open a window to the world for Cypriot businesses and offer high-quality products and services to our customers,” said the group's CEO.

Source: www.philenews.com

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