Alpha Bank presents its 2030 strategy for Cyprus

On Wednesday, during its Investor Day in Athens, Alpha Bank CEO Vassilis Psaltis unveiled the new 'Alpha Accelerated' strategic plan, which designates Cyprus as a primary growth market for the group. The bank aims to increase its Cyprus operations' contribution to net profit from the current level of approximately 6% to 10% by 2030. To achieve this, the institution plans to implement an annual loan growth target of 13%, leveraging the increased scale provided by the acquisition of AstroBank.

The strategy marks a shift from a traditional credit-based model to a holistic, client-centric approach. By applying the business model currently used in Greece, the bank intends to meet all customer needs rather than just selling individual financial products. The group focuses on offering advanced transaction banking, treasury management solutions, and strategic advisory services to enterprises in both Greece and Cyprus.

This plan follows a three-year recovery trajectory. During the 2023 Investor Day, the bank’s management introduced a roadmap focused on restoring profitability and strengthening its balance sheet. Under the 'Alpha Accelerated' initiative, the bank aims to solidify its position as a key pillar for economic development in the Eastern Mediterranean region.