Alpha Bank made its first appearance in Cyprus in 1998 with the acquisition of Lombard Natwest Bank. It was renamed Alpha Bank Limited and later Alpha Bank Cyprus Ltd. Alpha Bank Cyprus Ltd is an Alpha Bank Group Company with a participation percentage of 100%.
In 1999 the Alpha Bank Group acquired Metropolitan insurance company which began to operate under the name of Alpha Insurance Ltd.
During 2002, 82% of Alpha Insuranceís shares passed to Alpha Bank Cyprus Ltd. At the same time Alpha Bank A.E. bought the rest of the shares owned by a minority of Alpha Bank Cyprus Ltd shareholders and acquired 100% of the share capital.
In April 2004, Alpha Bank Cyprus Ltd successfully launched a new and comprehensive banking system that offers users a friendly and functional working environment with simplified procedures.
In 2007, Alpha Bank established its presence even further by moving to its own 4.600 sq. m. premises in the Centre of Nicosia. All the major Divisions of the Bank as well as the Main Branch of Nicosia were relocated to the new building.
In 2008 Alpha Bank Cyprus Ltd celebrated its 10th year of operation in the Cypriot market and inaugurated its new Headquarters.
In 2010 Alpha Bank launched Alpha Mobile Banking, a new system of electronic banking which comes into operation through the Alpha Express Banking platform for the provision of banking services via mobile phone.
On February 1, 2013, pursuant to the acquisition agreement of October 16th, 2012, with regards to the sale of Emporiki Bank S.A. from Credit Agricole S.A. to Alpha Bank A.E., and the approvals by the Greek and Cypriot Central Banks and anti-trust authorities, the entire share capital of Emporiki was transferred to Alpha Bank by Credit Agricole.
The Bankís primary aim during its years of operation in Cyprus is the satisfaction of the needs of its customers and their financial well being. The products offered adjust to their demands and the marketís condition, with the aim of offering a comparative advantage in relation to the competition so that they can gain a real benefit and experience value from their association with Alpha Bank.