Alpha Bank announced tonight that it has reached a binding agreement to acquire Astro Bank in Cyprus.
The transaction, valued at at least €205 million, is expected to be completed in the fourth quarter of 2025, pending regulatory approvals and other conditions.
The acquisition will solidify Alpha Bank’s position as the third largest bank in Cyprus, increasing its market share to approximately 10% of assets.
The bank also expects to double its profitability, exceeding €100 million per year in recurring net profits.