Cyprus: Astrobank rumored to take over USB bank

By in

According to the sources, Astrobank is very close to taking over USB bank, which will help consolidate the banking system of Cyprus. The take-over will be completed when the Central Bank of Cyprus gives the go ahead.

Executive Director of Astrobank Mr George Appios refused to confirm or deny the information, noting that among the bank’s top priorities is to increase the balance, including through acquisitions.

He recalled that the consolidation of the EU banking sector is one of the goals set by the Single Mechanism for Supervision of the Activities of EU Banks, while the consolidation of the banking sector of Cyprus is among the goals set by the Central Bank of Cyprus.