Alpha Bank poised for organic growth

Over the next two years Alpha Bank Romania will invest more than 35 million euros in the development of its territorial network and in implementing a new IT system, the bank’s chairman of the Board of Directors, Eleftherios Ioannou, said on Tuesday. The investment is part of the bank’s development plan devised by the new executive management. Alpha Bank went through a management reorganisation, whereby the executive and administrative positions were separated. The executive chairman position went to Christos Giampanas, former head of Alpha Bank Greece’s Corporate Division. The Corporate Division of the Romanian branch will be headed by Evangelos Kalamkis, who is the executive vice-president. The other members of the Board are Radu Gratian Ghetea, first executive vice-president and Sergiu Oprescu, executive vice-president. Giampanas announced the goal of the new management was to continue developing the bank. “We have a growth target, yet it this is harder and harder to achieve, given the increasingly fierce competition in the system. We will grow organically, as we have in the last ten years. We’re not planning any acquisitions, but will keep paying attention to what happens on the market as the Romanian banking system consolidation is in full swing,” Giampanas says. ZF