Alpha Bank made its first appearance in Cyprus in 1998 with the acquisition of Lombard Natwest Bank. It was renamed Alpha Bank Limited and later Alpha Bank Cyprus Ltd.
Alpha Bank has grown considerably over the years and managed to establish its presence and claim the position of third largest bank in Cyprus. Beyond providing competitive products and services, the Bank’s success was reinforced through continuous and pioneering strategic moves.
In 1999 Metropolitan insurance company was acquired by the Alpha Bank Group and began to operate under the name of Alpha Insurance Ltd.
On the 8th of February 2001, Alpha Bank was appointed Grand National Sponsor of the Olympic Games of 2004 in the banking category. Before the end of 2001, the bank introduced Alpha Express Banking, an electronic banking service, which enables customers to perform banking transactions through the internet.
During the year of 2002, Alpha Bank started the gradual improvement and expansion of the branch network based on the new philosophy of the Bank that concentrates on continuously adapting to customers’ needs. The branches changed internally, becoming more friendly and operational with the abolition of the traditional counter partitions. The same year, Alpha Bank Cyprus Ltd acquired 82% of the shared capital of Alpha Insurance. At the same time, Alpha Bank A.E. acquired 100% of the shared capital of Alpha Bank Cyprus Ltd, by purchasing the shares owned by the minority of shareholders.
In April 2004, Alpha Bank Cyprus Ltd, successfully launched a new banking system that efficiently integrated all banking services, providing a user friendly environment and simplifying system procedures. In August 2004, Alpha Bank organised missions of students and volunteers to visit Athens during the Olympic Games ATHENS 2004.
By 2006, Alpha Bank Cyprus Ltd had managed with strength and constant drive for growth to make a major leap in the Cyprus Banking Industry, capturing a market share in excess of 10% and increasing the total number of branches to 28. In February 2006, two years before entering the Eurozone, Alpha Bank was the first bank to launch a Nationwide awareness campaign on the Euro to educate the Cypriot public.
In 2007, Alpha Bank established its presence even further by moving to its own 4.600 sq. m., premises in the Center of Nicosia. All the major Divisions of the Bank as well as the Main Branch of Nicosia were relocated to the new building. Further by the end of 2007, Alpha Bank Cyprus Ltd operated with 33 branches throughout Cyprus and managed to increase its market share to 12%, thus improving its ranking of third among all the Banking Institutions operating in Cyprus.
In 2008 Alpha Bank Cyprus Ltd celebrated its 10 th year of operation in the Cypriot market and inaugurated its new Headquarters. As part of the celebrations a series of events were organized with special focus on a touring art exhibition titled “Greek Art from 1950 until today”. The e