The Inter-Alpha Group of Banks was created in 1971 by six banks in the European Community to provide a platform for the regular exchange of ideas and to explore areas for cooperation between its member banks. The group is a non-hierarchical association and is maintained by mutual agreement with each bank retaining full autonomy and independence.
It was one of the banking clubs set up during the 1960s and 1970s when a number of European banks attempted to cooperate at an international level.
The group’s function has evolved to:
Provide a platform for the regular exchange of ideas at the executive and senior management level
Allow specialists to meet and discuss topics of particular interest
Establish areas of cooperation, particularly in international trade
Train bank management through annual Inter-Alpha Banking School and annual Inter-Alpha Banking Management Programme at INSEAD at Fountainbleau near Paris
Create a framework for individual banks within the Group to work together
Membership of the group has grown to eleven banks, representing 15 European countries:
AIB Group, Ireland
Novo Banco, Portugal
Commerzbank, Germany
ING Group, Netherlands
Intesa Sanpaolo, Italy
KBC Bank, Belgium
Nordea, Denmark, Finland and Sweden
National Bank of Greece, Greece
Royal Bank of Scotland Group, UK (Williams & Glyn's Bank was one of the original founding members but it's membership was later taken over by The Royal Bank of Scotland)
Santander, Spain
Société Générale, France