AstroBank acquires banking operations of USB Bank
As a result of the transaction, USB Bank’s personnel, with the exception of certain properties, have been transferred to AstroBank. Additionally, USB Bank has ceased to perform banking operations.
The deal was announced in 2018 and has been funded from AstroBank’s own resources and was backed by a capital increase of EUR 54 million, primarily from its current shareholders.
The acquisition is expected to help AstroBank consolidate its position in the Cyprus market. The bank particularly said that its balance sheet will surge by more than 50% to reach EUR 2.1 billion
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright