Alpha Bank Cyprus presents future strategy at Limassol event

Alpha Bank Cyprus presented its future strategy, including initiatives that solidify its position as a leading force in the country's banking sector, at an event held at the Four Seasons Hotel in Limassol, attended by representatives of the business community.

The event was attended by Alpha Bank Group’s management, the Board of Directors of Alpha Bank Cyprus, as well as senior executives from the bank’s Wholesale, Retail, Wealth, and International divisions. They engaged with the business community, exchanged ideas, and explored ways to strengthen collaborations with the aim of fostering the growth of the Cypriot economy.

The event marked the strong momentum that Alpha Bank Cyprus has gained after 18 months of intensive transformation. In his speech, the CEO of Alpha Bank Cyprus, Miltos Michaelas, said that the bank has now laid solid foundations for a new era of growth, with its serious and methodical efforts yielding tangible results.

He added that with this new momentum, "we are investing in innovation, customer service, and the development of strong partnerships with the business community. Alpha Bank Cyprus is not just a bank; it is a strategic partner, an ally standing by businesses and individuals, offering innovative solutions and support at every step of their economic growth."

Referring to the acquisition of AstroBank, Michaelas highlighted that it represents a landmark move for Alpha Bank Cyprus. Upon its completion, expected in the fourth quarter of 2025, Alpha Bank Cyprus will become the third-largest bank in the country, with a market share of approximately 10%. The acquisition is projected to increase the loan portfolio by 60%, deposits by 70%, and total assets by 65%.

"This is a strategic move that establishes Alpha Bank Cyprus as a key player in the market, strengthening our financial footprint and creating even greater value for our customers," said Michaelas.

The CEO of the Alpha Bank Group, Vassilis Psaltis, also addressed the event: "The transformation taking place is not just about strengthening Alpha Bank Cyprus—it reflects our ambition to drive momentum in the Cypriot economy itself. We are here to support businesses in fully leveraging their potential. We are here to help households secure their financial future and achieve their dreams. We are here to contribute to shaping a more dynamic and resilient economy."