BUSINESS

Alpha backs down on closure of island branches

TAGS: Banking

Greece’s Alpha Bank has rescinded its decision to shut down its branches on the remote islands of Kassos, Lipsoi and Tilos, a Shipping Ministry statement said on Tuesday, according to the state-run ANA-MPA news agency.

The bank made its decision following talks with Deputy Prime Minister Yiannis Dragasakis and Deputy Shipping and Island Policy Minister Nektarios Santorinios, the ministry said. It added that the residents of the three islands will continue to be served by the existing bank branches on the islands without interruption.

The controversial decision earlier this month that would have left the three eastern Aegean islands without any bank services was condemned by the Region of North Aegean, which suspended any collaboration with the bank, and the mayors of the North Aegean.

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