Alpha Bank: 20% increase in youth recruitment by 2025

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By Leonidas Stergiou

Alpha Bank recently communicated the quantitative and qualitative objectives, as well as the course of the Alpha Blueprint transformation program and the Tomorrow strategic planning to foreign analysts, on the occasion of the Group’s corporate governance briefing.

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Alpha Bank has given specific goals for the implementation of the ESG (Environment, Social, Government) criteria with a horizon until 2025. These are the criteria-principles of sustainable development that include an environmental and social footprint with rules of transparency and accountability (governance).


These goals are part of the strategic goals to improve productivity by 25%, with a simultaneous reduction in net operating costs by 60 million euros per year or by 40% by 2023. For the staff, the main quantitative goals are as follows:

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    Increase recruitment of new employees by 20% by 2025.

  • Attracting new talent (brain-gain)

  • Percentage of women among all employees at 56%. The percentage of women in managerial positions increases to 37%.

  • Training 24 hours a year per employee.

  • Increased employee participation and accountability.

Attracting talent

As stated by the CEO of Alpha Bank, Mr. Vassilis Psaltis several times with his public interventions, the attraction and promotion of talent is a key pillar, adding that in this context the Bank has attracted and repatriated dozens of Greek executives from abroad from the so-called “brain drain”

Number of personnel

The renewal of human resources, alongside the voluntary and natural departures, is reflected in the number of employees in Greece and in the Group which includes the subsidiaries abroad. From the data presented to foreign analysts, the number of workers in Greece remains almost constant compared to the end of 2021.

In particular, at the end of 2021, Alpha Bank was the first systemic bank to reduce the number of employees below 6,000, to 5,925 people. It was preceded by the separation of Cepal (where personnel were transferred to the new structure) and the voluntary exit in October 2021. Then follows a new voluntary exit in March 2022 and at the end of June the number of employees stands at 5,923 people (slightly lower than 5,939 people in March).

At group level, the number of employees fell below 10,000 in June 2021 and below 9,000 in December 2021. Following the March 2022 voluntary exit and the sale of the Albania subsidiary, the total number of employees at the end June was 8,476 (from 8,512 in March and 8,529 in December 2021). It is recalled that within the next period the completion of the sale of the subsidiary in London, which has already begun, is expected, with an expected benefit of 200 million Euros.

Green growth

For green growth and environmental footprint, the main quantitative targets are:

  • 5% of the new allocations until 2025 will concern loans to the agricultural sector. In this direction, tools and financial tools are being developed, in collaboration with European institutes.

  • Increase by 5% per year or 25% overall by 2025 of investments in ESG investments, such as green bonds.

  • Increase of financing by 40 million euros towards renewable energies until 2025 corresponding to an energy production of approximately 70 MW. RES investment projects of 170 million euros in 2021 have already been financed.

  • 100% use of electricity from renewable sources.

  • Lower operating costs by reducing energy use.

Social footprint

  • Access by disabled people to 67% of stores

  • Social investments of 2.7 million euros

  • Full application of the principles of responsible banking to all investment portfolios (besides loans).

Governance (transparency and accountability)

  • Dealing with regulatory processes and policies

  • Reducing legal risks and reputational risks

  • Strengthen internal ESG governance

  • Further improvement of corporate ESG disclosures, such as adoption of the TCFD and SASB frameworks (already almost met).

  • 23% the percentage of women participating in the boards of directors, 76.92% the percentage of non-executive members and 64% of non-executive and independent members. Already, the goal for sustainable board-level oversight has been achieved and

Alpha BluePrint/Tomorrow Designs

It is recalled that the Alpha BluePrint transformation program provides for:

• 430 million euros total investment and restructuring costs for the financing of the Transformation Program and the achievement of the business plan. Completion in 2023

• 120 million euros investments in technology.

• 25% improvement in productivity, while reducing average turnaround time and operational risk.

• 60 million euros net annual reduction in operating costs, from all interventions, the utilization of technologies, the improvement of efficiency and the rationalization of the operating model.

• 260 million euros additional income from interest in 4 years.

• 100 million euros additional income from commissions in 4 years.

• 50% and above the rate of automatic credit decision making.

• 1 day maximum for consumer loan approval.

• 1 hour maximum for car loan approval.

• 15 actions, at least, to enhance efficiency, reduce mean turnaround time and operational risk using Robotic Process Automation

• 2 new Business Centers in Athens and Thessaloniki for the most rational distribution of the clientele and the improvement of the Customer Experience.

• 3 strategic pillars, 200 planning employees, 100 actions, 23 workstreams.

Read also:

AlphaBank: Net profit of 117.3 million euros in the second quarter – MEA index at 8.2%
What the analysts asked about the economy, businesses, households and its new goals AlphaBank
AlphaBank: At METRO AEVE the first investment financing in netmetering
Vassilis Psaltis: “H AlphaBankagent of development and progress”
The transformation program of Alpha Bank in numbers
Alpha Bank: Investment 430 million. euro in the transformation program the bank’s

Source: Capital

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