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AstroBank’s Merger Ushers In Cyprus’ Third Largest Banking Powerhouse

by THEFUTURE.TEAM

June 29, 2025

Strategic Merger Redefines Cyprus’ Banking Landscape

AstroBank has executed a definitive agreement to transfer nearly its entire portfolio of banking assets and liabilities to Alpha Bank Cyprus, including the transition of its workforce. This decisive move lays the foundation for the emergence of Cyprus’ third largest bank, significantly reinforcing Alpha Bank’s strategic presence in the region.

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Enhanced Financial Capabilities And Market Expansion

Once the process concludes in the fourth quarter of 2025, subject to the required regulatory endorsements, Alpha Bank Cyprus will capitalize on increased financial robustness, an expanded service network, and advanced technical expertise. The integration positions the bank to offer innovative, competitive, and trustworthy services to both retail and corporate clients.

A New Horizon For Employees And Clients

The merger not only augments the bank’s market reach, but also opens up broader opportunities for AstroBank’s staff and customers. Leveraging Alpha Bank’s extensive international network—one of the most esteemed banking groups in Greece and Southeast Europe—this alliance promises enhanced value for all stakeholders.

Steadfast Growth And Economic Confidence

This transaction underscores the strong developmental trajectory of AstroBank over the past four years under the leadership of CEO Aristeidis Bourakis and his team, reinforcing confidence in Cyprus’ banking system and broader economy. Mr. Bourakis highlighted the significance of this milestone, noting that the enlarged bank will possess superior financing power, an enhanced network, and the operational rigor necessary to effectively support market demands and contribute to the nation’s economic progress.

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Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

by THEFUTURE.TEAM

September 12, 2025

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

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Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.