Alpha Bank Absorbs Alpha Holdings – Meeting with Mitsotakis and UniCredit

In the merger by absorption of Alpha Services and Holdings into Alpha Bank, shareholders have made their decision. During the opening of the extraordinary general meeting, Alpha Bank’s president, Dimitris Tsitsiragos, stated that this merger signifies a full return to normalcy and the beginning of a new era for the Group, focused on growth, transparency, and simplification. According to Tsitsiragos, the corporate structure of recent years was dictated by the needs of crisis management and capital challenges faced by Alpha Bank. ‘Today, we leave that chapter behind and establish a more unified, stronger, and efficient bank with clear future goals,’ he said. The merger occurs at a 1:1 ratio, meaning each share of Alpha Services and Holdings will be exchanged for one new share in Alpha Bank AE, without affecting the group’s capital adequacy or dividend policy. Trading of Alpha Services and Holdings shares will be temporarily suspended from Wednesday, June 24, until Friday, June 27, 2025, while new Alpha Bank shares will begin trading on Monday, June 30, 2025. This decision comes during a period of strong performance for the Alpha Bank Group, presenting record profits and consistent progress in its strategic implementation. It is also supported by a strong vote of confidence from UniCredit, one of Europe’s leading banking groups, which has chosen to further enhance its stake in Alpha Bank. Notably absent from the shareholder meeting was Chief Advisor Vassilis Psaltis, who was attending a meeting with Prime Minister Kyriakos Mitsotakis and UniCredit Group CEO Andrea Orcel at the Maximos Mansion. Earlier, Psaltis and Orcel had a working lunch with Bank of Greece Governor Yannis Stournaras. It should be noted that UniCredit announced it would increase its stake in Alpha Bank’s share capital to 20% from approximately 9%, and to 30% within the year.