The position that 2025 was “a landmark year for Eurobank in Cyprus” was supported by Michalis Louis, Executive Board Member and CEO of Eurobank, while emphasising that “2026 will not be business as usual, but business unusual.” Louis was speaking at a Fireside Chat entitled “The beginning of a new era in banking in Cyprus”, as part of the Banking, Payments and Fintech Forum and Expo, presented by Logicom.
Louis referred extensively to the defining developments that marked the year for Eurobank, focusing on the acquisition and subsequent merger of Hellenic Bank. As he noted, this is an investment of approximately 1.3 billion euros in cash, the largest ever made in Cyprus, which led to the creation of one of the largest banking organisations on the island. He underlined that such a move is accompanied by increased responsibility and obligation, so that the vision and objectives of the investment are implemented in practice.
In the second part of his statement, the CEO of Eurobank highlighted the Group's international strategy, referring to the fact that the bank is opening offices in Israel, Saudi Arabia and India, markets in which it sees significant growth prospects. He made particular reference to India, pointing out that there are many common points with Cyprus, both in terms of business culture and cooperation opportunities, an element that was one of the main reasons for its inclusion in the international expansion strategy.
Referring to the challenges of 2026, Louis explained that Eurobank is called upon to manage multiple and complex projects simultaneously. On the one hand, there is the full integration and merger of two banks, with an emphasis on the alignment of systems, processes and corporate structures. On the other hand, there is the need to integrate and adapt the insurance activities, following the relevant acquisitions, which further increases the complexity of the project.
Despite the pressures, the CEO of Eurobank underlined that the core of the strategy remains the customer. As he stated, businesses and individuals who choose to invest and operate in Cyprus expect efficient services, immediate response and a banking partner that is constantly by their side. The challenge, according to him, is to achieve the right balance between internal transformation, increased operational requirements and continued support for the real economy.
In closing, Louis acknowledged that the next period will be demanding, with significant pressure on the people and structures of the organisation, but he expressed the certainty that through proper planning, commitment to the goal and collective effort, Eurobank can meet the challenges and play a leading role in shaping the new banking reality in Cyprus.
The moderator was the Managing Director of Logicom Solutions, Chrysostomos Kritiotis.
(Source: InBusinessNews)
