Alpha Bank Cyprus Set to Acquire AstroBank
Negotiations between the two parties took place under conditions of absolute confidentiality, with information confirming that the deal has now been finalized, as the final details have been arranged. This development significantly strengthens Alpha Bank Cyprus's position in the local banking market, both in terms of customer base and geographic presence.
After the acquisition, the consolidated banking organization will have:
26 branches
31 ATMs
700+ employees
Alpha Bank Cyprus, which previously had 12 branches and 16 ATMs, is now acquiring AstroBank, which had 16 branches and 15 ATMs. This move is expected to enhance the capital base of the new banking entity, improving competitiveness and offering expanded options to customers. At the same time, the integration of the two banks' infrastructures may lead to operational synergies and increased efficiency.
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