Alpha Bank Cyprus this week presented its future strategy during a corporate event held at at the Four Seasons Hotel in Limassol.
According to an announcement released on Tuesday, the bank said that it is “shaping the country’s banking landscape, strengthening the national economy, and solidifying its position as a rising force in the sector“.
It added that the event “confirmed its dynamic trajectory and reinforcing its status as a leading player in Cyprus’ banking industry“.
The event brought together the leadership of the Alpha Bank Group, the board of directors of Alpha Bank Cyprus, and senior executives from the wholesale, retail, wealth, and international banking divisions.
The announcement noted that “attendees engaged in discussions with members of the business community, exchanging ideas and exploring new avenues for collaboration aimed at driving economic growth in Cyprus”.
The event, the bank explained, marked a key milestone in Alpha Bank Cyprus’ transformation, which has been underway for the past 18 months.
In his speech, CEO of Alpha Bank Cyprus Miltos Michaelas pointed out that the bank has “laid a strong foundation for a new era of growth”.
He stated that “through serious and methodical work, we are now seeing tangible results”.
In addition, he stressed that the bank is “committed to innovation, customer service, and fostering strong partnerships”.
“We are investing in innovation, customer service, and the development of strong collaborations with the business sector,” he said.
“Alpha Bank Cyprus is not just a bank,” he continued. “It is a strategic partner, an ally standing alongside businesses and individuals, offering innovative solutions and support at every step of their financial journey.”
Michaelas also addressed the acquisition of AstroBank, calling it a “landmark move” for Alpha Bank Cyprus.
He noted that once completed in the fourth quarter of 2025, the acquisition would position Alpha Bank Cyprus as the country’s third-largest bank, with a market share of approximately 10 per cent.
What is more, the bank’s loan portfolio is expected to grow by 60 per cent, deposits by 70 per cent, and total assets by 65 per cent.
“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,” Michaelas stated.
The event also featured remarks from Vassilis Psaltis, CEO of the Alpha Bank Group, who stressed the bank’s broader mission to empower the Cypriot economy.
“The transformation taking place is not just about strengthening Alpha Bank Cyprus—it is about our ambition to give momentum to Cyprus’ economy itself,” Psaltis said.
“We are here to support businesses in fully realising their potential,” he continued. “We are here to help households secure their financial future and achieve their dreams”.
“We are here to contribute to the creation of a more dynamic and resilient economy,” Psaltis concluded.