BUSINESS

Southern Aegean suspends deals with Alpha Bank

TAGS: Banking

The Regional Authority of the Southern Aegean said on Thursday it is suspending the cooperation agreements it has with Alpha Bank.

The region said the decision came after the bank announced on Tuesday it will be closing its branches on the islands of Tilos, Lipsoi and Kassos on September 14.

The decision will leave the remote islands without a bank.

According to the regional authority’s announcement, “Alpha Bank’s sudden decision intensifies the feeling among residents of these remote Aegean islands that they are treated unfairly and deprives them of basic banking services, forcing them to” resort to “long and expensive journeys [to other] islands [where services are available].”

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