Alpha Bank announces the acquisition of the 24.41% stake of Alpha Insurance's share capital held by the Palaiologos family. Following the completion of this transaction, Mr. Doukas Palaiologos, Managing Director of Alpha Insurance, will leave management.

Furthermore, the Bank, which already owns 75% of the share capital of Alpha Insurance, intends to proceed with acquiring the remaining shares under the same conditions.

The acquisition agreement is subject to authorities' approval and is in line with Alpha Bank's strategy to focus on further developing the bankassurance business.