Alpha Bank Hydra Branch Closes

After more than 2 decades (if I remember correctly) the Hydra branch of the Alpha Bank has closed and today were vacating the premises. I understand the business reasons for the branch closing. Still, all the same, as it's 'my' bank, I shall sincerely miss the Alpha Team who have over the years consistently provided such excellent, friendly service. I wish them all the very best at their new jobs.

Hydra still has two other banks, the Piraeus Bank (the newcomer) and the National Bank of Greece, which seems to have been established on the island beyond living memory.

All the Alpha clients still have their online account access and bank cards. But if they need to have a face-to-face meeting, they will have to visit Piraeus. I understand that an Alpha ATM machine will stay on the island, but I have yet to discover where and if this is definite. Similarly, I am not sure which rumours about who and what business will take over the building are actually definite!

People on Hydra are disappointed that the Alpha Bank has made this decision. They provided career employment on the island, which is now lost. Going into the branch and speaking to someone you actually knew was much more comfortable than having to deal with a computer screen that doesn't chat or make suggestions. Hydra's other-worldliness was one of the last refuges from computerisation.

Because of changes forced on us because of the Covid crisis, globalisation digitally has sped up, and Hydra is no longer immune to its impact.

Greece has accelerated digital implementation across all areas of life. Imposed preventative restrictions have compelled people to conduct their banking online and at ATM points without entering the branches. This rapid shift to machine banking, replacing in-branch activity, has almost 'obliged' the Alpha bank to close the Hydra branch. It no longer has enough face-to-face business to justify the staff and rent overhead.

Similarly, for the island to have had three banks, was even in 'normal life' a little excessive. If analysed from a strictly financial accounting perspective, Hydra simply didn't have enough clients to generate enough profits to sustain three banks. Only time will tell whether there is enough for two.

Again, I hope the smashing Hydra Alpha branch staff will soon be settled with new jobs. And I thank them again for all their friendly help. They will undoubtedly be missed.