Alpha Bank in Bulgaria

Alpha Bank plans to bolster its branch network in Bulgaria to 45 branches by the end of 2007, bank officials said at the opening of a new branch in the center of Sofia yesterday. «Our development plan in Bulgaria is quite ambitious, as we feel we are lagging behind the size we would wish to have in the country,» said Alpha’s head of international operations, Vassilis Karaindros. «Our expansion plan is proceeding very quickly, and we believe we shall have a network of 10 to 15 branches in about half the country by the end of the year,» said Alpha’s managing director in Bulgaria, Yiannis Iordanidis. He said the bank will see a rise in profits this year despite the lending restrictions imposed by the Bulgarian government. «Bulgaria has immense prospects for economic growth. It is a country worth investing in,» he added.

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