Alpha Bank Cyprus is reportedly moving to acquire AstroBank’s operations and branches in Cyprus.

According to the same sources, it is acquiring selected performing loan portfolios as well as selected deposits.

Announcements are expected soon. Alpha Bank Cyprus is the third largest bank in Cyprus, and with this acquisition, Alpha Bank’s management further strengthens its position in the Greater Cyprus region. It will be recalled that a few weeks ago, the bank had proceeded with the acquisition of ABC Factors.

It is noted that the bank will announce its financial results for 2024 tomorrow, February 28, in the morning.

AstroBank is a licensed credit institution in Cyprus, established in 2008 and supervised by the Central Bank of Cyprus. Based in Nicosia, the bank has a network of 15 branches and business centres across Cyprus, offering innovative and technologically advanced products and services that meet the needs of its local and international clientele.