Filenews 3 November 2025
Alpha Bank announced the completion of the acquisition of all banking activities of AstroBank Public Company Ltd, through its subsidiary Alpha Bank Cyprus Ltd, significantly strengthening its position in the Cypriot market. The transaction was completed following the receipt of all required regulatory approvals and was carried out in accordance with the Law on the Transfer of Banking Operations and Collateral (Law 64(I)/1997).
As of October 31, 2025, Alpha Bank Cyprus assumes all assets and liabilities of AstroBank, concluding an agreement signed on June 24, 2025. Following the transaction, Alpha Bank Cyprus becomes the third largest bank in Cyprus, with assets of more than €6.6 billion, loans of more than €2 billion and deposits exceeding €5.6 billion.
The agreement substantially strengthens Alpha Bank's capital and operational base in Cyprus, creating a more resilient and competitive banking organization. The integration of AstroBank's staff and branch network offers increased service and know-how capabilities, while the Bank plans new investments in technology, innovation and operational excellence in order to offer high value-added services to individuals, businesses and institutional customers.
This development is part of the Alpha Bank Group's growth strategy in the southeastern Mediterranean, with the aim of strengthening its activities through organic and non-organic growth. At the same time, the partnership with UniCredit strengthens Alpha Bank's role as a bridge between Europe and the Mediterranean, facilitating the flow of capital, investments and business opportunities.
The CEO of Alpha Bank Cyprus, Miltos Michaelas, described the completion of the acquisition as a strategic milestone for the country's banking system. As he stated, "we are creating an organization with substantial size, a strong capital base and a clear strategy: to be the most reliable, modern and efficient Bank for our customers."
He also stressed that, with the support of the Group, Alpha Bank Cyprus strengthens its role as a financial hub in the Southeastern Mediterranean, acting as a gateway between Europe and the Middle East. The goal, he added, is to actively contribute to the financing of development, the promotion of innovation and the support of entrepreneurship that creates value for the economy and society.
