During 2005, the Albanian branch of Alpha Bank reported gross revenue of 141%, Alpha Bank of Greece announced during an activity for investors recently. Meanwhile, during 2005, profits through its Albanian branch reached EUR7 million as compared to EUR2.9 million for 2004. Such profits were a result of strong growth in its lending accompanied with a rather soft increase of deposits, the bank reported.

The performance of the Albanian branch was very good compared to the average profit levels of the Alpha Bank group; however, they were comparatively lower for its deposits.

Alpha Bank operates in six different countries in the Southeastern region of Europe. During 2005 its outside Greece activity saw an average growth of 33.8% in loans, 38.6% in deposits and 64% in profits. Meanwhile, its Albanian branch makes up 3.8% of its activity abroad, however in this same group is also the branch of Cyprus, which makes up more than half of its entire foreign activity. Its operation in Albania also makes up 6.6% of all total foreign deposits.

2008 objectives
Presently, Alpha Bank in Albania has nine branches with a total 85 employees, however 2008 projections foresee the establishment of 16 branches and an increase to about 150 employees. Alpha Bank’s market share portion for 2005 in Albania was estimated at 11.2%, meanwhile its 2008 objectives are to gain 13%, according to Alpha Bank report.

As far as its regional market share, Alpha Bank covers 0.7% of the Bulgarian market, and up to 6.2% of that in Serbia.

Alpha Bank results in Albania
Million EUR	2004	2005	Change in %
Loans	81	109	34.80%
Deposits	144	177	22.90%
Profit	2.9	7	141.40%