12° Nicosia,
28 March, 2023

Former Finance Minister Michalis Sarris new president of AstroBank

A renowned economist and former World Bank official


Mr. Michalis Sarris, former Minister of Finance, assumes the chairmanship of the Board of Directors of AstroBank. Mr. Sarris succeeds Dr. Shadi Karam, who has been the President of AstroBank for five years, since January 2017.

During the last five years, AstroBank has established itself in the Cypriot market through a significant increase of its capital (in the amount of approximately €150 million), expansion of its presence with the acquisition of the former USB and the systematic provision of financing and flexible products.

Mr. Sarris, a renowned economist, was elected to the Board of Directors of AstroBank in May 2021 and brings with him significant banking and financial experience, having been, among others, a senior official of the World Bank and Minister of Finance of the Republic of Cyprus in 2005- 2008.

Dr. Karam contributed his significant experience and know-how to the Bank and played a key role in shaping its strategic thinking and future vision. The Board of Directors of AstroBank would like to wholeheartedly thank Dr. Shadi Karam for his contribution to the development of the Bank throughout his successful five-year term.

Cyprus  |  banks

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