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Alpha Bank Acquires Citi Greece's Retail Banking Services

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Today, Citi Greece confirmed its retail banking services sale to Alpha bank, that includes its Diners Club Greece sector.

The purchase encompasses 480,000 clients and gross assets that amount to $600 million dollars, $1.4 billion dollars worth of deposits, and $540 million dollars worth of loans and card values.

The bank's 730 retail banking and branch employees will begin working at Alpha Bank, while the merger is scheduled to finalize within the last six months of the year. Citi Greece stated that it will now center on enlarging Hellenic enterprise efforts, monetary institutions and public sector, private banking, and shipping sector clients. The bank will carry on its multinational services to clients in the nation.

As reported by ANA-MPA, Citi Greece Chief Executive Grant Carson stated of the act, "Τhe sale is another step of Citi's strategy to focus its resources to sectors in which the bank has competitive advantage, which in the case of Greece is large enterprise banking...Citi is operating in Greece for the last 50 years and plans to invest in the organization to better service its domestic and international corporate clients".