AstroBank announced yesterday the signing of an agreement for the sale of essentially all of its banking assets and liabilities, including the transfer of its personnel, to Alpha Bank Cyprus.

With the integration of AstroBank’s operations into the Alpha Bank Group, the Greek banking group significantly strengthens its strategic presence in Cyprus.

According to the announcement, upon completion of the transaction—expected in the fourth quarter of 2025, subject to the required regulatory approvals—Alpha Bank Cyprus will become the third-largest bank in the country.

This acquisition opens new opportunities for AstroBank’s employees and customers through Alpha Bank’s international network, which is one of the largest and most established banking groups in Greece and Southeastern Europe.

The agreement acknowledges the steady growth trajectory AstroBank has maintained over the past four years under the leadership of CEO Aristidis Vourakis and his team.

At the same time, it reflects confidence in the Cypriot economy and its banking system.

“The signing of the agreement marks a significant milestone for AstroBank, its people, and the Cypriot economy overall,” commented Mr. Vourakis.

He added that the deal creates a strong banking institution capable of “responding more effectively to market needs and contributing meaningfully to the development of the Cypriot economy.”

“The expanded bank,” Mr. Vourakis noted in his written statement, “will have increased lending capacity, a broader network, and advanced expertise, enabling it to offer modern, competitive, and reliable services to both individuals and businesses.”