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 Construction Price Index Rises Amid Cost Pressures

by THEFUTURE.TEAM

February 19, 2026

The latest data from the Cyprus Statistical Service (Cystat) shows that the Price Index of Construction Materials in Cyprus reached 118.89 points in January 2026, based on a 2021 average of 100. Compared with December 2025, the index increased by 0.12%, indicating gradual price adjustments across the sector.

Year-Over-Year Growth

On an annual basis, the index recorded a 1.09% increase compared with January of the previous year. The rise reflects ongoing changes in contractor costs and highlights evolving market conditions within the construction industry.

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Commodity-Specific Movements

The report provides a detailed breakdown by material category. Minerals recorded the strongest annual increase at 2.91%, followed by electromechanical products at 2.55%. Products made from wood, insulation materials, chemicals and plastics rose by 1.19%, while mineral products increased by 0.97%. In contrast, metallic products declined by 0.49%.

Volatility In Sub-Categories

More pronounced changes were observed within specific sub-categories. Mineral aggregates rose by 8.34%, while stones increased by 4.97% compared with January 2025. Electrical fixtures posted a 4.65% increase. Iron and steel products declined by 1.73%, and ceramics and cement continued to trend lower, falling by 1.47% and 1.38% respectively.

Methodological Insights

The index is calculated as a weighted average based on the expenditure share of sampled materials during the 2021 base year. Prices are collected monthly from a range of suppliers, using the 15th of each month as the reference date and excluding VAT. The Construction Costs Index applies specifically to new residential buildings.

This detailed analysis not only sheds light on current market trends but also offers stakeholders a robust framework for understanding the underlying cost dynamics in Cyprus’s construction materials market.

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