Alpha Bank Cyprus Announces Management Reorganization and Expansion

Alpha Bank Cyprus has recently undergone a reorganization of its management structure and expanded its executive committee, with the goal of accelerating the implementation of its development plan. The bank aims to actively support the economic and social growth of Cyprus and swiftly achieve strategic objectives.

The reorganization includes an increase in executive personnel and an enhancement of the senior management team's capabilities. Two experienced professionals with a significant presence in the Cypriot banking market have joined the bank as part of this expansion. Christoforos Stylianides will take on the role of General Manager Wholesale, while Kyriacos Michaelides will assume the duties of Chief Wealth and International Banking Officer.

A key focus of Alpha Bank Cyprus' new strategy is on customer service, which involves process automation to make customer service faster and more efficient, providing solutions to customers' needs.

The bank is also dedicated to increasing productivity and developing its human resources, emphasizing the importance of an effective and profitable organization.

Miltos Michaelas, the CEO of Alpha Bank Cyprus, emphasized the bank's commitment to providing outstanding services to customers while supporting Cyprus's economic growth as a crucial partner in the business world and broader community. He noted that the new management team is intensifying its efforts to implement the bank's strategic plan.

In September of this year, Fitch Ratings upgraded Alpha Bank SA's Long-Term Issuer Default Ratings (IDRs), the parent company of Alpha Bank Cyprus, to 'BB-' from 'B+'. Fitch cited improvements in Alpha's profitability, which drive organic capital generation and result in stronger capital ratios, as a key reason for the upgrade. The bank's continued reduction in non-performing exposure, stable funding, and improved access to the wholesale debt market also factored into the upgrade.

These developments reflect Alpha Bank's commitment to its strategic goals and its role in supporting Cyprus's economic development.

By fLEXI tEAM