Alpha Bank shareholders are being asked to approve, among other things, a cash dividend distribution, a new share buyback program, and the allocation of 19.9+1.1 million euros to eligible employees at the ongoing Annual General Meeting of Shareholders.
“We achieved record profitability and completed seven acquisitions. A new chapter is now beginning,” emphasized Alpha Bank CEO Vasilis Psaltis.
“We are living in an era where uncertainty has become the norm,” he stated, emphasizing that Alpha Bank is not merely observing the rapid developments on the international stage but is taking a leading role. According to Mr. Psaltis, Greece has made a comeback, but there is still a long way to go. “Is our current growth sufficient?” he asked.
The country lags behind in productivity, the bank’s CEO pointed out, emphasizing the need for stronger businesses. “We must strengthen the production model; if we don’t, we will pay the price for inaction,” he stated.
In Greece, “the crisis was not caused by the banks,” he said. “Responsibility must be shared fairly,” he emphasized.
Investment Gap
The Greek economy is at a critical turning point, stressed Dimitris Tsitsirangos, chairman of Alpha Bank, placing particular emphasis on the major challenge of bridging the investment gap. The Greek economy is entering a phase of maturation. The country has regained fiscal stability. It has growth prospects. It is improving its position. The economy is showing clear signs of resilience.
Investment is a key pillar of growth, he said, adding that monetary policy in the eurozone remains restrictive and interest rates are at high levels.
In Greece, GDP will hover around 1.8%; the effects of the geopolitical crisis are evident. However, there are factors contributing to stability, including our country’s banking system.
He stated that maintaining investment activity is now critical. Starting in 2027, the Greek economy will have to stand on its own two feet as the absorption of the Recovery Fund comes to an end. A better business climate is needed to attract foreign direct investment. We are on the right track, but high-value-added investments are required.
Inflation is a major challenge, as it affects income and, by extension, consumption. Other challenges include the current account balance and demographic trends. Therefore, there is a need to increase productivity.
Artificial Intelligence can support growth momentum, he noted, and referred to Alpha Bank’s competitive advantage, which is none other than its alliance with UniCredit.
* See the speeches in the “Related Materials” section.