Alpha Bank unveils ambitious strategic plan for Cyprus by 2030

At the recent Investor Day in Athens, Alpha Bank CEO Vassilis Psaltis unveiled the "Alpha Accelerated" strategy, aiming to transform the bank's operations in Cyprus by 2030. The group intends to increase the contribution of its Cypriot activities to net profits from approximately 6% today to 10% by 2030. To achieve this, the bank is shifting from a traditional lending model to a holistic, client-centric approach, leveraging the increased scale gained through the acquisition of AstroBank.

Key targets include an aggressive annual loan growth of 13%, significantly outpacing the broader market's projected growth of 4–5%. As of 2025, the bank holds €2.2 billion in loans against €5.9 billion in deposits, with a non-performing exposure ratio of less than 1%. This strategy seeks to position Cyprus as the group's second-most important market, utilizing the bank’s surplus liquidity to offer advanced transaction banking, treasury management, and strategic consulting services.

This initiative follows the group's 2023 recovery roadmap aimed at balance sheet strengthening. With Cypriot operations now serving as a key profit driver alongside other Greek banking institutions like Eurobank, Alpha Bank aims to secure its position as a major regional player.