Alpha Bank impact study highlights gains in financial literacy
Alpha Bank’s IQonomy initiative delivered measurable social value in 2024 by strengthening financial literacy among vulnerable groups, according to social impact measurement studies conducted by HIGGS.
The studies assessed the implementation of four educational programmes during 2024, drawing on qualitative and quantitative data collected through interviews and online questionnaires involving partner NGOs, Alpha Bank and direct beneficiaries.
Financial literacy is a strategic pillar of Alpha Bank’s sustainability agenda, with the impact studies designed to ensure that interventions generate long-term and measurable value for society.
IQonomy brings together four major programmes targeting groups identified by the OECD as socially vulnerable in financial and digital literacy.
The Financial Literacy Primer, delivered with ActionAid Hellas, targeted primary and secondary school students and teachers across Greece with the aim of supporting informed economic decision-making.
During 2024, the programme was implemented in 227 schools across 12 regions, reaching 6,614 students and 593 teachers.
According to the HIGGS study, 91 per cent of teachers said the programme helped familiarise students with economic concepts, while 73 per cent observed more responsible behaviour in consumption, saving and civic participation.
The programme generated social value of 7.35 euros for every 1 euro invested.
The Circular Economy in Practice programme, implemented with SciCo, focused on sustainability and circular economy education within the school community.
In 2024, it involved 21 schools, 411 students and 22 teachers, while digital training reached an additional 15,755 students and 214 teachers.
HIGGS found that 93 per cent of teachers reported improved student knowledge on environmental and economic issues, with social value of at least 8.94 euros per euro invested.
The Economics Lessons programme, run with WHEN, supported women’s financial empowerment through monthly interactive seminars.
A total of 242 women participated in 2024, with 89.5 per cent reporting improved financial knowledge and social value reaching 12.83 euros per euro invested.
The e-conomy for all programme, delivered with People Behind, supported people over 55 in using digital banking safely.
In 2024, 233 participants took part, with 86 per cent improving their financial knowledge and social value reaching 7.41 euros per euro invested.
“The IQonomy initiative was created from the belief that knowledge can change lives when put into practice,” said George Terzis.