The Bank’s task of rebuilding from its base, with a focus on human resources, customer focus and the ultimate goal of financing the economy with new loans of € 14 billion by 2022, is being implemented by Alpha Bank management.

As the Greek economy is on a recovery track, Alpha Bank is targeting new € 14bn loan disbursements in Greece between 2019 and 2022. From 2020 to 2022, the Bank’s new lending will move to € 11bn, with the bulk of them go to business.

Specifically, in Corporate Banking, Alpha Bank plans to disburse about € 9 billion over the next three years. Disbursements will primarily target areas that are expected to contribute to economic growth, namely the energy, infrastructure, real estate, hotel / tourism, retail and industrial sectors. At the same time, Alpha Bank will seek to enhance its digital product portfolio and increase customer-centric products to businesses through a customer profitability management program.

At Retail Banking, Alpha Bank plans to disburse about € 2 billion over the next three years, building on its broad customer base of 3.1 million active customers. This objective will be achieved on the basis of the recovering real estate market and the increase in disposable income, which are expected to boost demand for mortgage and consumer loans, as well as through better customer service on physical and digital channels.

Through increased lending and business activity and strong demand for investment and banking products, Alpha Bank expects to increase its annual commission income by approximately € 110 million.

New human resources management strategy

Claiming market shares in the new environment shaped by the economy’s recovery environment, however, cannot be achieved without the Bank’s overall redefinition of a new and innovative customer-centric operating model.

The proactive approach of the client and the building of a modern and extroverted profile for Alpha Bank starts from the inside, as the human resources are top priority of the Bank’s management. According to reports, as early as May, management has conducted extensive internal demographic research on its staff to draw conclusions about how employees view their work and evolution in the Group. Management received 9,000 responses leading to a new human resources management strategy.

This strategy aims at developing a strong and merit-based culture, “bottom-up” innovation and employee empowerment. The aim is not only to satisfy the Bank’s employees, but also to attract and retain capable executives. According to Alpha Bank’s Managing Director, Vassilis Psaltis, a new efficiency management infrastructure is being created at all levels of the organization to enhance accountability and further develop a performance culture.

An effective organizational structure will be a key catalyst for the implementation of Alpha Bank’s new management strategy, following the announcement of a new management team. In order to implement the Bank’s overall transformation strategic plan, Alpha Bank CEO Vas Psaltis announced last week the creation of a Transformation Bureau responsible for implementing the Bank’s new Strategic Plan. In this context, the appointment of Chief Transformation Officer (CTO), who will be a member of the Executive Committee, will be supported by 10-15 specialized executives, contributing to the successful implementation of the Bank’s objectives.

The above article is owned by Nena Malliaras and published in on Tuesday, November 26, 2019 (08:00 am).