Deutsche Bank has been appointed as successor depositary bank for the Level I ‘OTC’ American Depositary Receipt (ADR) program of Alpha Bank A.E. (“Alpha Bank”).
Alpha Bank, founded in 1879, is one of the largest banks in Greece holding the leading position in the domestic corporate lending market. With a network of more than 1,000 branches in Greece and abroad, Alpha Bank offers a comprehensive range of financial products and services to private and corporate customers. The activity of the Alpha Bank group extends through southeastern Europe, mainly in Romania, Bulgaria, Serbia, Albania, the Former Yugoslav Republic of Macedonia, Ukraine and Cyprus. With approximately Euro 65 billion in assets and about Euro 4 billion in equity at 31 December 2008, Alpha Bank generated Euro 513 million in net income in 2008. Alpha Bank is listed on the Athens Exchange and is a constituent of the DJ Eurostoxx Index.
“We welcome Alpha Bank’s decision to transfer its ADR program to Deutsche Bank’s depositary receipts platform,” says Akbar Poonawala, head of global equity services at Deutsche Bank. “Our broad range of customised services will be used to assist Alpha Bank to enhance the visibility of its ADR program with the United States investor community.”
D.C.