Alpha Bank aims to raise €800 million for its development plan

Alpha Bank said on Friday it was examining plans for a share capital increase worth 800 million euros to fund its development plan.

In an announcement, Alpha Services and Holdings SA, a 100% parent of Alpha Bank, said it has hired JPMorgan and Goldman Sachs Banks Europe SE to examine a plan to raise 800 million euros in new capital to fund its development plan.

“The suggested capital raise seeks to take advantage of the current favorable conditions in capital markets and Alpha Bank’s strong financial position, at the same time defending the investment value of existing shareholders,” the announcement said.

“Alpha Bank considers the outlook of the Greek economy as extremely positive and wants to contribute in support of the Greek government’s efforts to boost the growth of the national economy and to attract foreign investments in the country,” it added.

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