The Board accepted the resignation for personal reasons of the CEO of the Bank

The Board of Directors of AstroBank Public Company Limited (“AstroBank”) convened today 27 August, 2020.

The Board accepted the resignation for personal reasons of the CEO of the Bank, Mr. Constantinos Loizides and appointed Mr. Aristidis Vourakis to replace Mr. Loizides as CEO. This appointment is subject to the consent of the Central Bank of Cyprus. In the meantime, the Board of Directors and Mr. Loizides have agreed that Mr. Loizides will remain as CEO and Director of the Bank, thus ensuring a seamless transition and an uninterrupted, harmonious continuation of the major projects in progress.

Mr. Vourakis is a prominent international banker and brings to the fore, at the age of 45, an already distinguished career with eminent successes at JP Morgan and Bank Audi as well as a number of large successful deals. He will enrich AstroBank with a profound knowledge of investment and transaction banking coupled with experience in restructuring, in credit, in risk and in governance.

The Board thanked Mr. Loizides for his significant contribution to the growth and development of AstroBank. The Board has underlined the noteworthy added-value that the experience of Mr. Loizides has contributed to AstroBank.

The Board wishes Mr. Loizides every success in his new endeavors and warmly welcomes Mr. Vourakis to the AstroBank family.

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