A message of confidence and optimism about her path Alpha Bank sent by the chairman of the Board of Directors, Vasilios Rapanos and the managing director of the group, Vassilis Psaltis from the floor of the Ordinary General Meeting of Shareholders that took place today and which approved the distribution of a total amount of 122 million euros for the payment of dividends and the repurchase of shares, which corresponds to a dividend yield of 3%.

Alpha Bank is returning to its long tradition of rewarding its shareholders, which was interrupted due to the financial crisis, marking, as Mr. Psaltis mentioned, the beginning of a new cycle of growth and profitability. “Today is a very special day for our group. Following the approvals of the supervisory authorities, it is with great pleasure that I propose to you from the floor of our Ordinary General Assembly, the approval, after 16 years, for the distribution of a dividend of 61 million euros and an equivalent amount for the repurchase of shares, i.e. we distribute total value 122 million euros to our shareholders”, underlined Mr. Psaltis and added: “Looking back at what we have been called to face from 2010 until today, I have strong faith in the prospects of this bank and in our capabilities. The recent recovery of investment grade for our credit securities by Moody’s reinforces my optimism, as well as my determination, to persist on the path of modernization and strengthening the efficiency of Alpha Bank, ensuring high recurring profitability and a stronger dividend yield next years”.

For his part, Mr. Rapanos emphasized: “With the kind cooperation of the Board of Directors and the Bank’s Executive Team, we were able to exceed, in many dimensions, our goals. However, this does not make us complacent. We are aware of the challenges and that is why we need to further improve our performance (…) by deepening the reforms we have started, by further improving our internal operations and by making more effective use of the opportunities they offer us the skills, hard work and dedication of our staff.”

The next day for the Greek economy and Alpha Bank

Referring to the prospects of the Greek economy and the role that the business world and Alpha Bank are called to play, Mr. Psaltis underlined that “we now have the opportunity to change the course of the Greek economy”. He highlighted, as conditions for overcoming the problems of the past, the fair distribution of development to those who contributed to its achievement as well as the demonstration of courage by the business world in the field of international competition. Referring to Alpha Bank in particular, he noted: “We are proud to be leading today both in the field of giving back and in the field of extroversion. As for retribution:

• We recognize the support of our shareholders, return value directly and indirectly to them and, above all, remain fully committed to our plan to further strengthen returns.

• We reward the efforts of our staff, through an enhanced variable remuneration program based on an objective and merit-based evaluation system.

• We give back to our customers, with new products, consulting support and better service.

• We return value to society, as helpers in the national effort for better health, education, but also in dealing with emergencies. Of course, we also play a leading role in the field of extroversion, opening up the European market for our clients, through our strategic relationship with UniCredit, and decisively supporting the modernization and expansion plans of Greek businesses”.

Addressing the business world and the State, he said: “In this context, we will not tire of urging our clients to set higher goals and contribute to the formation of a new business culture, characterized by innovation, strengthened institutions corporate governance and higher added value products. We will also not tire of highlighting, as mentioned by the President, the imperative need for the State, taking advantage of the positive situation, to speed up its reform work, as a condition for an economy of sustainable growth, which will distribute wealth fairly to its members”. A catalyst for change is the strategic partnership with UniCredit – base year in 2023 for the bank.

The CEO of the group pointed out that 2023 was a milestone year for Alpha Bank and that “from now on, both we and the markets should know that the crisis period has finally passed and that 2023 is the base year for the position of our bank, and what we are called to be compared to.”

“The acquisition of the Financial Stability Fund’s interest in Alpha Bank by UniCredit is undoubtedly a success, the result of the long-term and painstaking effort to consolidate and transform Alpha Bank, as well as the positive course of the Greek economy”, commented the president of the .S. of Alpha Bank, adding that the strategic cooperation of the two groups dramatically improves the possibilities of further value creation for the shareholders, customers and staff of Alpha Bank, as well as for the Greek economy.

“We have successfully privatized our bank, restoring our image as the bank of the private sector, and for the private sector. We did not just seek to sell the shares held by the HFSF. We secured the entry into our shareholding of one of the largest banking organizations in the world, UniCredit, a foreign strategic investor who highlighted our bank as a signpost of developments for the entire Greek banking system”, underlined the CEO of the Alpha group Bank and clarified: “This is not just a stock and trade agreement. It represents a historic opportunity for change, further accelerating transformation, renewing the culture of work and performance within our bank. The collaboration with UniCredit gives us the opportunity to become an innovation agent in the Greek market, to be exposed to international competition and to be at the forefront of European banking developments, as a member of a very broad pan-European network. And this is an opportunity, which I will not allow to pass unexploited”.

Mr. Psaltis expressed his optimism about the prospects of the strategic relationship with UniCredit, explaining that “this optimism is based on two axes: First, in the close cooperation between our teams and the rapid implementation of what has been agreed upon. In just 8 months since the announcement of the agreement, the part of the agreement for the sale in Romania has already been completed, while the distribution framework for the family of UniCredit onemarkets Mutual Funds, which are already available to our clients through our network, has been finalized . Secondly, to the fact that with the management of UniCredit we share the same vision for the organizations we represent, aiming to promote entrepreneurship and innovation, to cultivate a culture of teamwork and high performance, to our dedication to creating value for Shareholders, through the development of new jobs and sustainable profitability”.

Strong financial results and further strengthening of profitability

Mr. Psaltis made extensive reference to the financial results of the bank that have already been announced (almost double, compared to the previous year, adjusted profits after taxes, which amounted to 780 million euros in 2023) and all the positive performances the bank’s. The bank’s achievements would not have been possible without its organizational modernization and the actions for the development of employees in the group and the creation of an environment of innovation and efficiency, based on a new culture of meritocracy and opportunities, emphasized Mr. Psaltis. “I want my message to be clear: in our Bank, the competent and pioneers are recognized! They are the ones who help the bank to progress, deal with malfunctions and create a competitive advantage. They are the ones who deserve respect, personal reward and recognition,” he said. At the same time, the CEO of the group confirmed the commitment of Alpha Bank to undertake actions for an inclusive society, with practical solidarity towards all its members, presenting the relevant actions epigraphically.

Concluding his speech at the Annual General Meeting, Mr. Psaltis shared with the shareholders of Alpha Services & Participations his optimism for the bank’s course, saying: “We are in a stronger position than ever before in the last many years and this fills us with confidence , but also determination for new higher goals

B. Rapanos: “The surplus is not a means to increase expenses”

“The Greek economy has returned to a regime of normality, but it is necessary to return to a trajectory of convergence with Europe, in terms of GDP per capita. But this presupposes the continuation and deepening of the reform project, with the aim of increasing investments, reducing production and distribution costs, increasing productivity”, said the chairman of the Board of Directors. of Alpha Bank, who also highlighted the need to maintain fiscal discipline. “The return to the past of fiscal deficits must be avoided, in any way. Greece’s surplus position must be preserved and we must proceed on the principle that the surplus is not a means to increase spending, but to reduce the high public debt,” he said. Mr. Rapanos also argued that “a great improvement in the business culture is required in our country, as well as for the demonization of profit to disappear so that long-term investors come to Greece with the aim of reaping a dividend from the strong growth”. With regard to the banking sector, he emphasized that “Greek banks have strengthened their position, in recent years, with a significant improvement in their financial sizes, in the midst of an unstable international geopolitical and economic environment” and concluded: “With enhanced liquidity, the Greek banks are able to expand, with prudent risk management, their loan portfolio, supporting the development of the Greek economy”.