Press Release
Alpha Bank announces the successful completion of the acquisition of substantially all assets and liabilities of AstroBank Public Company Ltd (“AstroBank”), through its subsidiary Alpha Bank Cyprus Ltd (“Alpha Bank Cyprus”) and other Group entities, following the receipt of all required regulatory approvals (the “Transaction”).
The transfer was executed in accordance with the Cyprus Transfer of Banking Business and Securities Law (N.64(I)/1997), and as of 31 October 2025, Alpha Bank Cyprus assumes the assets and liabilities transferred under the Transaction, successfully completing the agreement signed on 24 June 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 surpassing €5.6 billion., significantly enhancing its capacity to offer comprehensive 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 institution capable of supporting households, small and medium-sized enterprises, and large corporate clients. With the integration of AstroBank’s staff and branch network into Alpha Bank Cyprus, the Bank significantly upgrades its customer service capabilities, technical expertise, and human capital, while leveraging the Alpha Bank Group’s experience and resources to further invest in innovation, technology, and operational excellence, with a view to delivering high value-added products and services.
This Transaction also reaffirms Alpha Bank’s strategic priority to pursue both organic and inorganic growth opportunities across the markets of the Southeastern Mediterranean, and, through its strategic partnership with UniCredit, to act as a bridge to Europe, fostering the flow of capital, investments, and business opportunities. In doing so, Alpha Bank creates sustainable, long-term value for its Customers, Shareholders, and the communities it serves.
The CEO of Alpha Bank Cyprus, Mr. Miltos Michaelas, stated: “The completion of the transaction with AstroBank marks a strategic milestone for Alpha Bank Cyprus and a new chapter for the country’s banking sector. We are creating an institution with meaningful scale, a solid capital base, and a clear strategic direction — to be the most trusted, modern, and efficient Bank for our Customers.
With the support and expertise of the Alpha Bank Group, we strengthen Cyprus’ role as a financial hub in the Southeastern Mediterranean, acting as a gateway connecting Europe and the Middle East. Our goal is to actively contribute to financing growth, promoting innovation, and supporting every sound business initiative that creates value for the economy and society.
I would like to sincerely thank all teams from Alpha Bank Cyprus and AstroBank for their dedication, collaboration, and professionalism. Together, we are shaping a shared path toward a Bank built on trust, a human-centric approach, and a forward-looking vision.”
