Alpha Bank announces the successful completion of the acquisition of substantially all of the assets and liabilities of AstroBank Public Company Ltd ("AstroBank"), through its subsidiary Alpha Bank Cyprus Ltd ("Alpha Bank Cyprus") and other subsidiaries of the Group, following receipt of all required supervisory approvals ("Transaction").
The transfer was carried out in accordance with the Law on the Transfer of Banking Activities and Securities (N.64(Ι)/1997), and from October 31, 2025, Alpha Bank Cyprus takes over the assets and liabilities transferred in the context of the Transaction, successfully completing the agreement signed on June 24, 2025.
With the completion of the Transaction, Alpha Bank Cyprus becomes the third largest bank in Cyprus, with total assets exceeding €6.6 billion, a loan portfolio of over €2 billion and deposits exceeding €5.6 billion, drastically increasing its ability to offer integrated banking services to individuals, businesses and institutional clients.
The Transaction substantially strengthens Alpha Bank's capital and operational base in Cyprus, creating an even more resilient and competitive organization, capable of supporting households, small and medium enterprises and large corporate Clients. With the integration of AstroBank's Staff and Branch Network into Alpha Bank Cyprus, the Bank significantly upgrades its capabilities in terms of service, know-how and human resources and, utilizing the dynamics and experience of the Alpha Bank Group, further invests in innovative solutions, technological investments and operational excellence with the aim of providing services and products of high added value.
This development confirms Alpha Bank's strategic priority to take advantage of organic and non-organic growth opportunities in the south-eastern Mediterranean markets and, through the strategic partnership with UniCredit, to act as a bridge to Europe, enhancing the flow of capital, investment and business opportunities. In this way, Alpha Bank creates substantial and lasting value for its Customers, Shareholders and the societies where it operates.
The CEO of Alpha Bank Cyprus, Miltos Michaelas said: "The completion of the transaction with AstroBank is a strategic milestone for Alpha Bank Cyprus and a new beginning for the country's banking landscape. We are creating an organization with a substantial size, a strong capital base and a clear strategy: to be the most reliable, modern and efficient Bank for our Customers.
With the support and knowledge of the Alpha Bank Group, we strengthen the role of Cyprus as a financial hub in the Southeast Mediterranean, acting as a gateway between Europe and the Middle East. Our aim is to actively contribute to the financing of growth, the promotion of innovation and the support of any healthy business endeavor that creates value for the economy and society.
I want to warmly thank all the teams of Alpha Bank Cyprus and AstroBank for their dedication, cooperation and professionalism. Together, we shape our common course for a Bank with trust, a people-centered approach and an eye on the future."
