CyprusEconomy

Hellenic Bank and Eurobank Cyprus merge on the way

By: SigmaLive English

Date:

Hellenic Bank has announced the receipt of all necessary regulatory approvals for its long-anticipated merger with Eurobank Cyprus, marking a new era for the island’s banking sector.

According to the Transfer of Banking Business and Assets Law of 1997, the full transfer of Eurobank Cyprus’ assets and liabilities to Hellenic Bank will take place on 1 September. This milestone consolidates the two institutions into a single, strong and modern financial entity.

The merger will enable the unified institution to deliver upgraded banking and insurance services, while supporting the broader development of the Cypriot economy. At the same time, the process for changing the name of Hellenic Bank Public Company Ltd to Eurobank Limited is already underway.

The new name reflects the shared vision, dynamism and innovation of the Eurobank Group, and highlights the strategy of the merged institution—centred on sustainable growth and a client-first approach.

Chief Executive Officer Michalis Louis commented, “This development marks a historic milestone for the banking sector in Cyprus and for all of us in the Group. The unification of Hellenic Bank with Eurobank Cyprus creates a strong, integrated organisation with deep experience, expertise and potential.

“With an enhanced presence in both banking and insurance, we are now in a position to offer more comprehensive and innovative secure solutions to our customers, aligned with modern societal and economic needs.

“The new Eurobank Ltd is not just a name change—it represents a shared vision for sustainable development, technological progress and people-centred service. We are not merely forming the largest bancassurance organisation in Cyprus, but also a strong pillar for the country’s emergence as an international financial hub and a bridge for economic and business cooperation between the EU and our wider region.

“Our priority remains the smooth and seamless transition into this new era, with full respect for the needs and expectations of our clients, partners and the society that has continuously placed its trust in us.”

Feature photo source: Business voice

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