“Best Bank in Greece” for the 2nd consecutive year was named Alpha Bank at the “Awards for Excellence 2021” awards of the international financial edition “Euromoney”.
This year’s distinction is based on the successful completion of the Galaxy landmark transaction, the Bank’s progress in implementing its Strategic Plan and the strong financial resilience it has demonstrated throughout the Covid-19 pandemic.
According to the relevant announcement of the bank, the award is given annually to banking institutions that stand out from their competitors thanks to their dynamic presence in international and domestic markets, after an extensive analysis of their quantitative and qualitative indicators.
This is the 4th time in the last six years that Alpha Bank has won this award from Euromoney, as this year’s award follows previous respective awards of 2016, 2018, and 2020.
According to the “Euromoney” rating committee, Alpha Bank stood out this year due to its excellent progress in reducing Non-performing Exposures (NPLs), after the completion of the Galaxy transaction worth 10.8 billion euros, which is the second largest securitization of Non-performing Exposures in Europe and the largest ever held in Greece, following a binding agreement with American investment company Davidson Kempner in February 2021.
The completion of Project Galaxy was a turning point for Alpha Bank and the Greek banking system in general, significantly consolidating its balance sheet and contributing to resolving the issue of red loans in Greece.
During 2020, Alpha Bank successfully completed a number of other strategically important projects, including an emphasis on fund management and bank insurance, through a long-term partnership agreement with Generali.
Alpha Bank stood out for its financial resilience as well as its strong performance in implementing its strategy throughout 2020, despite the pressures due to the pandemic. Also, its renewed Strategic Plan “Project Tomorrow” and the successful Share Capital Increase of 800 million euros place Alpha Bank in a significant position in the national effort to accelerate the growth of the Greek economy in the post-pandemic era.