Alpha Bank to boost presence in Albania after merger with Eurobank.

By bne IntelliNews September 21, 2011
The merger between the two leading Greek financial groups EFG Eurobank and Alpha Bank will bring significant benefits to activities of Alpha Bank Albania, its general director Andreas Galatoulas told news agency Lajmeshqip. A large part of liquidity available to the new group will also be a strong support for Alpha Bank Albania, which is expected to strengthen its market position. The bank plans to improve the quality of services and the expand the range of products it offers on the local market. Alpha Bank Albania posted a pre-tax loss of EUR 3.8mn in the first half of 2011, compared to a EUR 4.1mn profit a year ago. The bank's share on Albanias loan market fell to 8.6% at end-June 2011 from 14.9% a year ago.

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