AstroBank CEO and Cyprus Bankers Association Chairman Aristidis Vourakis is set to step down on October 1, 2025, following a pivotal chapter for both himself and Cyprus’s banking sector. Vourakis oversaw the agreement for Alpha Bank to acquire a majority stake in AstroBank in a deal worth over €200 million — a move that will establish Alpha as the third largest bank in Cyprus by boosting its loan portfolio, deposits, and branch network.

Vourakis, who has led AstroBank since December 2020 and also chairs the Association of Cyprus Banks since May 2024, played a central role in ensuring a smooth path for the acquisition, which still requires final regulatory approvals. Until the transaction is fully concluded, he will continue his duties at AstroBank to guarantee a stable transition.

His next professional step has already been confirmed: Vourakis will assume the role of Chief Executive Officer of Aegean Baltic Bank (AB Bank), officially starting on October 1. AB Bank’s board described his appointment as part of a broader strategy to expand operations in Greece and the surrounding region.

With more than 25 years in international banking, Vourakis brings extensive experience to his new role, having previously held senior positions at JPMorgan in London, overseeing institutional clients across Central and Eastern Europe, Africa, and the Middle East, as well as serving as Deputy CEO of Bank Audi Group in Lebanon. He holds an MSc in Accounting and Finance from the London School of Economics and a Finance degree from the University of Piraeus.