Alpha Bank said on Thursday it has reached a binding agreement to buy small Cypriot lender AstroBank for just over 200 million euros.
The transaction will take place through Alpha Bank Cyprus, which is Alpha Bank’s unit in Cyprus, and is expected to be concluded in the last quarter of 2025. It will be financed via Alpha Group’s capital and will not affect its dividend policy, the lender said.
The deal is expected to drive a 5% increase in earnings per share, a 60-basis point improvement in return on tangible equity, and a 40% return on regulatory capital.
AstroBank has 15 branches, €2.2 billion in deposits and €800 million in loans, Alpha Bank said.
Upon completion of AstroBank’s acquisition, Alpha Bank Cyprus will hold a market share of approximately 10%, strengthening its position as a modern and robust banking choice for households, for small and medium-sized enterprises, and for large corporate clients.
The transaction aligns with Alpha Bank’s growth strategy, which is focused on targeted investments with strict financial criteria and a focus on high-potential markets.