Alpha Bank’s Bold Cyprus Expansion: €205 Million AstroBank Acquisition Sparks Growth

by News Editor

February 28, 2025

Alpha Bank is set to acquire AstroBank for a total of €205 million, significantly boosting its foothold in the Cyprus market.

This transaction will be carried out through Alpha Bank Cyprus Ltd, enhancing the Alpha Bank Group’s profitability prospects. It’s estimated that the acquisition will add over €100 million annually to recurring net profits. Furthermore, Alpha Bank anticipates a 5% boost in Earnings Per Share (EPS), a 60-basis-point rise in Return on Tangible Equity (RoTE), and a stellar 40% return on regulatory capital, making it a pivotal moment in its growth strategy.

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Market Impact and Future Prospects

On completion, expected in Q4 2025 pending regulatory approvals, Alpha Bank Cyprus will command around 10% of the market share.

Cyprus’ promising economic landscape, with a real GDP growth projected to outpace the wider euro area, positions it as an attractive market for expansion. This acquisition underscores Alpha Bank’s dedication to cementing its presence in Cyprus.

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Cyprus Starts Selection Process For Board Roles In Semi-Public Organisations

by THEFUTURE.TEAM

April 2, 2026

Strategic Transition Ahead Of 2026

The Government of Cyprus has launched a process to appoint new board members across semi-public organisations and advisory councils ahead of term expirations in 2026. The selection is conducted through the Expert Advisory Council mechanism, which is used to evaluate candidates and support appointment decisions.

Robust Application Process

Konstantinos Letympiotis said that 1,241 applications were submitted during the first implementation of the process in 2023. Applications covered board positions across 13 organisations, reflecting interest from professionals in public sector governance roles.

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Expanding Opportunities Across Leading Institutions

The current process includes 94 board positions across 12 organisations. Institutions involved include the Public Gas Company (DEFA), THOK, the Licensing Authority, the Urban Planning Council, RIK, HA EK, the Cyprus Symphony Orchestra Foundation, ATHEK, KOA, the Port Authority, the Cyprus Land Development Organisation, and the Construction and Technical Contractors Council. These roles cover sectors such as energy, culture, infrastructure, and public administration.

Clear Timelines And Evaluation Criteria

Applications will open on April 3, 2026, with submissions accepted until April 24, 2026, through an online platform. The Expert Advisory Council will assess candidates based on defined criteria and prepare a shortlist with three candidates per position. That shortlist will be submitted to the Cabinet for final selection. Interviews may also be conducted as part of the evaluation process.

An Invitation To Qualified Professionals

Authorities invited eligible candidates to submit applications for the available positions. The process is aimed at filling upcoming vacancies and maintaining governance structures across public organisations.

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