The fourth largest Greek bank by assets, Alpha Bank was founded in Kalamata in 1879. The company changed its name to Bank of Kalamata in 1918, later moving to Athens and being renamed Banque de Credit Commercial Hellenique in 1974. Another name change, this time to Commercial Credit Bank, followed in 1947; then Credit Bank, in 1972, before the name settled on Alpha Credit Bank in 1994.
Alpha began expanding outside Greece in the early 1990s, with a focus on Southeastern Europe. Banca Bucaresti was established in Romania in 1994 (in partnership with the European Bank for Reconstruction and Development). The name was changed to Alpha Bank Romania in 2000. Four Albanian branches were opened in 1998. Alpha Bank acquired 65% of Skopje-based Kreditna Banka in 1999 and became the sole shareholder three years later.
Alpha also has subsidiary branches in Moldova and Serbia, plus an extensive branch network in Bulgaria. The UK branch, based in London, opened in 1994 after Alpha acquired the Commercial Bank of London from the Commercial Bank of Greece and renamed it Alpha Credit Bank London.
In early 2015, Alpha requested emergency liquidity assistance from the Bank of Greece. As of September that year, the bank had received almost 30 billion Euro in assistance.
Alpha Bank Products and Services
In the UK, Alpha is focused on property lending and private banking services, with expert teams providing tailor-made solutions. These products are mostly designed to meet the needs of Greek or Greek-Cypriot customers with an international presence and high net worth.
Wealth management services include portfolio management (tailored to the client) and specific online and telephone banking services only accessible by private banking customers.
Alpha Bank Security
Alpha Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority. Deposits of up to £85,000 are covered by the Financial Services Compensation Scheme (FSCS).