Following up on its announcement dated September 11, 2023, regarding a potential acquisition of the Cyprus Development Bank (CDB), Astrobank disclosed that an agreement between the two parties had not been reached.

AstroBank "remains dedicated to its business plan, which, over the past three years, has led to significant operational improvements, high-quality customer service, and increased profitability," the statement said. Additionally, it notes that as part of its strategy, AstroBank will continue to explore non-organic growth opportunities.

Astrobank was reportedly in advanced discussions to acquire CDB Bank. The two financial institutions were engaged in negotiations, with Astrobank having had tabled a formal offer to CDB Bank. While representatives from both banks had declined to comment due to the sensitive nature of the negotiations, the potential merger was seen as a strategic move for Astrobank to solidify its position in the market.