Astro Bank has been fully absorbed by Alpha Bank, marking one of the most significant developments in Cyprus’s financial sector in recent years. Following the completion of the deal, Alpha Bank Cyprus’s assets exceeded €6.6 billion, with a loan portfolio over €2 billion and deposits surpassing €5.6 billion. This positions the bank as the third-largest financial institution in the country.
The merger has strengthened Alpha Bank’s position in the Cypriot market and is expected to contribute to further consolidation of the banking sector, which has been undergoing active restructuring in recent years due to financial crises and stricter EU regulations.
What Changes for Astro Bank Clients
For now, no action is required from former Astro Bank clients. All accounts, loans, cards, and online services continue to operate as usual. The bank has emphasized that any future changes will be announced in advance — through notifications in mobile and online banking, SMS messages, letters, and official announcements on the website and in branches.
Account numbers and IBANs remain unchanged. If any technical updates become necessary later, Alpha Bank Cyprus will inform clients ahead of time.
Branches and ATMs
Clients of both banks can now access services at all Alpha Bank Cyprus and former Astro Bank branches without restriction. The bank guarantees continuity of service and stated that any future optimization of the branch network will only occur after careful assessment. Customers of Astro Bank, Alpha Bank Cyprus, Euronet, and JCC can withdraw cash without fees. However, Alpha Bank Cyprus clients will continue to enjoy free withdrawals only from Alpha Bank’s and former Astro Bank’s ATMs.
Online Banking and Personal Managers
The Astro Bank Online Banking service remains fully operational for both private and corporate clients, allowing all online transactions without limitations. Personal relationship managers also remain unchanged, and clients can continue working with the same staff members as before.
Fees and Charges
Currently, the fees and charges of both banks remain unchanged. A unified fee structure is planned for the future, but it will be introduced gradually and strictly in line with the laws and regulations of the Republic of Cyprus. Alpha Bank Cyprus has already begun integrating internal systems, a process expected to be completed by the end of 2025. Once finalized, clients will gain access to an expanded range of products and services, including new digital tools and improved lending terms. This merger marks the beginning of a new chapter in Cyprus’s banking system, making it more resilient, technologically advanced, and customer-focused.