New major bank deal: Alpha Bank to acquire AstroBank for €205m

09:39 - 28 February 2025

Financial Services

Alpha Bank has announced a binding agreement to acquire the total assets and liabilities of AstroBank Public Company Ltd for €205 million, a move strengthening its presence in the Cypriot market.

The transaction will be executed through Alpha Bank Cyprus Ltd, a subsidiary of Alpha Holdings. The acquisition is expected to be a key factor in enhancing Alpha Bank Group’s profitability, with the integrated operations projected to contribute over €100 million annually in recurring net profits.

Alpha Bank said the deal is expected to generate a 5% increase in Earnings Per Share (EPS), a 60-basis-point improvement in Return on Tangible Equity (RoTE), and a 40% return on regulatory capital. On completion of the acquisition, Alpha Bank Cyprus will hold a market share of approximately 10%.

The deal is expected to be finalised in the fourth quarter of 2025, subject to regulatory approvals, Alpha Bank said.

"With its strong economic outlook and expected real GDP growth to exceed that of the wider euro area, Cyprus is an attractive market for increasing market share," it added, pointing out that this particular investment confirms Alpha Bank's long-term commitment to the Cypriot market.

New major bank deal: Alpha Bank to acquire AstroBank for €205m

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