ALPHA SERVICES & HDS-SP ADR Business Summary

Alpha Services and Holdings S.A. (ALBKY) is the parent holding company of Alpha Bank, one of Greece's four systemically important financial institutions. The company generates revenue through a diversified mix of net interest income from lending, transaction-based fees, and commissions from its bancassurance and asset management partnerships. Its operations are organized into five primary business segments: Retail Banking, which serves individuals and small businesses; Wholesale Banking, focusing on corporate lending and investment banking; Wealth Management; International Operations, primarily in Cyprus and Luxembourg; and a dedicated unit for managing Non-performing Assets (NPA). Positioned as a market leader in Greek corporate and affluent retail banking, Alpha Services and Holdings competes directly with the National Bank of Greece, Piraeus Bank, and Eurobank, distinguishing itself through a strategic focus on digital transformation and high-value cross-selling within its wholesale franchise. Leadership is currently directed by Group CEO Vassilios E. Psaltis, a seasoned banker with an MBA and PhD from the University of St. Gallen, who has spearheaded the group’s post-crisis restructuring since 2019. The executive team includes Deputy CEO Lazaros Papagaryfallou, CFO Vassilios Kosmas, and Chief Digital and Technology Officer Michalis Tsarbopoulos, who oversees the bank’s AI-driven modernization. The institution traces its origins to 1879, founded by John F. Costopoulos, and remains a cornerstone of the Greek financial system. Notable institutional backing includes a strategic 9% equity stake held by UniCredit S.p.A., following a landmark 2023 partnership agreement. The Board of Directors, chaired by Dimitris Tsitsiragos, was recently strengthened by the July 2026 appointment of Dirk L. Marzluf, a former Banco Santander executive, to enhance the group's technological and cybersecurity governance.