Business Review 2015 - page 18-19

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AlphaBank has alsobeendemonstrating inpractice, formany
years now, its keen interest inArts andCulture. Thus, in2013
it developed and launched theprogramme “Thedefacements
that hurt” for the restorationof sculptures indowntown
Athens. TheProgrammewas continuedduring2015 andwas
alsoexpanded to the cityof Thessaloniki.
TheBank contributed substantially to theefforts tomitigate
the impact of the capital controls andmaintain confidence
in theGreekEconomy. A realistic assessment of the current
circumstances, taking also into account thegradual imple-
mentationof theobligations that the countryhas undertaken,
gives rise tooptimism for a relaunchof theGreekEconomy
in2016.
Our strong capital position and themore supportive legal and
institutional framework, togetherwithour increasedbusiness
capacity to address nonperforming loans, will allowus to
provideour Customerswith long term solutions, with a view
to increasing the recoverable valueof the arrears portfolio.
In2016, wewill seek to improveour operatingprofitability
through initiatives to containoperating costs and further
reduce funding costs.
As theeconomy is expected to return topositivegrowth
rates in the secondhalf of the year andenter a sustainable
path thereafter, AlphaBankwill aim to lead theeffort to
ensure that the country’s recoverywill takeplacewithin the
Europeanenvironment.Weowe this toour Customers, toour
Shareholders and toour Personnel, whodemonstratedonce
again their diligence anddedicationunder severely adverse
conditions.
Athens, June30, 2016
Demetrios P.Mantzounis
BUSINESS REVIEW 2015
Letter from the Managing Director - CEO
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