The transaction will result in the merger of AXIA with Alpha Finance Investment Services S.M.S.A. ("Alpha Finance"), the investment services subsidiary of Alpha Holdings, along with the Bank's Investment Banking unit (the "Unified Entity"). This Unified Entity will become the leading provider of Investment Banking & Capital Markets ("IBCM") services in Greece and Cyprus. In this transaction, AXIA's management team has committed to leading and guiding the Unified Entity on a long-term basis.
AXIA is a prominent regional investment bank that offers financial advisory and capital markets services to corporations, governments, and institutional investors. Its leading position is evident from a series of major transactions over recent years, as well as its recognition as "Best Investment Bank in Greece" and "Market Leader in Greece" by Euromoney on four occasions in recent years. AXIA possesses extensive expertise in transactions across a wide range of sectors, products, and clients, supported by a skilled team of professionals with international experience and deep knowledge of the local market.
Alpha Finance is a pioneering company in providing services to a wide range of clients, from individuals to professional investors, offering flexible investment solutions for capital markets, alternative trading mechanisms, and over-the-counter transactions, both in Greece and internationally. Furthermore, as part of its strategy to strengthen the services it provides, Alpha Finance has formed a strategic partnership with Kepler Cheuvreux, a leading European financial services firm with a strong presence in research and analysis, trade execution, as well as fixed-income and credit solutions.
The Unified Entity will leverage its extensive experience in mergers & acquisitions (M&A) and capital markets to support companies in Greece and internationally, institutional investors, and shipping companies in achieving their strategic growth and global expansion goals. Investment banking in Greece is currently undergoing a phase of dynamic growth, driven by strong GDP performance and a steady inflow of foreign direct investments. A new generation of Greek companies is emerging with significant potential for geographical expansion and growth, both organically and through mergers and acquisitions, while also seeking access to international markets. These trends create a dynamic environment for investment banking and capital markets services (IBCM), and the demand for support in these developments is expected to rise substantially. Consequently, a strong growth trajectory is anticipated, which the Unified Entity can effectively capitalize on and further enhance.
The Unified Entity will provide comprehensive, top-tier, and client-tailored investment banking and capital markets services (IBCM), including advisory and investment services in the areas of capital markets, financing, M&A advisory, and intermediation services. It will leverage the Group’s robust position in Greek capital markets and its established relationships with the vast majority of large and medium-sized enterprises (SMEs) in Greece, while incorporating AXIA’s entrepreneurial spirit and specialized team of professionals. Additionally, the Unified Entity will expand internationally through the Group’s strategic partnership with UniCredit, which spans several European countries.
Transaction Alignment
The transaction fully aligns with the Group's criteria for mergers and acquisitions (M&A), accelerating the implementation of its strategic objectives and bolstering its revenue generation from fees. It further diversifies the Group’s revenue streams while significantly improving the services offered to corporate clients. Specifically, the transaction is expected to enhance the Group’s revenue from related Investment Banking and Capital Markets activities, increase earnings per share (EPS) by approximately 1.4%, and deliver a return on invested capital (RoI) exceeding 20%, while also positively contributing to the RoCET1 ratio. Furthermore, the transaction is expected to have a limited impact on the Group’s CET1 ratio, under 20 basis points, and will not affect the Group’s future capital distribution commitments.
Completion of the transaction is anticipated in the third quarter of 2025, subject to the finalization of the contractual documents and terms and conditions, including the price, and the satisfaction of customary conditions, including obtaining all necessary regulatory approvals and licenses. Alpha Services and Holdings S.A. will keep investors informed regarding the progress and final terms and conditions of the transaction, in compliance with all applicable laws.
Mr. Vasilis Psaltis, CEO of Alpha Bank, stated:
"We are thrilled to welcome the talented team at AXIA to the Alpha Bank family. AXIA and Alpha Bank share a common passion for delivering top-tier services and creating exceptional value for our clients.
The merger of AXIA and Alpha Finance under one roof will make us the first in the Greek market to offer such a robust and integrated Investment Banking and Capital Markets platform. The benefits for our corporate clients are unparalleled, as we will be able to support their growth plans with a comprehensive offering of financing and advisory services, not only in Greece and Cyprus, but also in other European markets, leveraging our continued collaboration with UniCredit. This acquisition is fully aligned with our commitment to pursue attractive investment opportunities that support our strategic growth and enhance our revenue from fee-based services, ultimately creating long-term value for our shareholders and clients."
Mr. Georgios Linatsas, CEO and Founding Partner of AXIA, stated:
"Seventeen years ago, my partners and I founded AXIA with the vision of establishing the leading investment banking institution in Greece, contributing to the recovery and long-term development of the Greek economy. Over the years, Greece regained its investment-grade status and is soon expected to be repositioned as one of Europe’s key markets. AXIA has played a strategic role in this transition.
As the landscape evolves, we remain committed to providing world-class advisory services and innovative financial solutions to our clients, guiding them through an increasingly complex and demanding environment.
By creating new opportunities for our key partners, investors, and collaborators, we are embarking on the next chapter of our journey and joining forces with Alpha Bank, a dynamic organization that shares our vision and commitment to progress. By combining our strengths with Alpha Bank and leveraging our partnership with UniCredit, we are poised to redefine Investment Banking and Capital Markets services in Southeast Europe, offering an expansive range of products and services, and positioning AXIA as the premier investment bank in the region. AXIA, reinforced by Alpha Bank’s platform, will continue to deliver high-quality services to its clients, solidifying its position as the leading investment banking organization in Greece, while enhancing its role as a catalyst for growth in the region.
