AstroBank will acquire the branch of ARAB JORDAN INVESTMENT BANK S.A that operates in Cyprus
ASTROBANK PUBLIC COMPANY LIMITED (“AstroBank”) wishes to inform you that it has entered into an agreement dated 28 February 2020 (the “Agreement”), by which AstroBank shall acquire the banking business of the branch of ARAB JORDAN INVESTMENT BANK S.A that operates in Cyprus, including customer deposits (the “Transaction”).
The Transaction shall be completed and will come into effect upon the satisfaction of a number of conditions, which are included in the Agreement, and such completion date shall be announced in newspapers and at AstroBank’s Official Website www.astrobank.com.
AstroBank is a member of the Deposit Guarantee Fund for Credit Institutions (the “Deposit Guarantee Fund”), which forms part of the Deposit Guarantee and Resolution of Credit and other Institutions Scheme (the “DGS”), operating pursuant to the provisions of the Deposit Guarantee and Resolution of Credit and other Institutions Scheme Law of 2016, L.5(I)/2016 (as amended). In this regard, we hereby notify you that pursuant to Regulation 23 of the Regulations on Deposit Guarantee and Resolution of Credit and Other Institutions Scheme of 2016 and 2020 (the “Regulations”), that as from the date of notification of the completion of the Transaction, you are given a four month period to, if you wish, withdraw or transfer to another credit institution your eligible deposits as these are determined pursuant to regulation 6(1) of the Regulations, including all accrued interest and benefits, without incurring any penalty, in so far as they exceed, at the time of completion of the Transaction, the amount of one hundred thousand euro (Euro 100.000) which constitutes the coverage level provided pursuant to the Regulations.
For more information, you can refer to any Astrobank Branch, or to the Customer Call Center at: 800 11 800 (local calls) or at +00 357 22575555 (international calls).
Yours Sincerely,
AstroBank Public Company Limited
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