Hellenic Bank confirms thoughts of expansion in the insurance sector, does not deny interest in CNP

Through an announcement to the Cyprus Stock Exchange (CSE), Hellenic Bank has left open the possibility of expanding its operations in the insurance sector, including, if deemed appropriate for its interests, the acquisition of existing insurance companies.

In the announcement, which was issued on the occasion of a news report about the bank's discussions related to a Cypriot insurance company, which is a subsidiary of a foreign group (CNP Cyprus), Hellenic Bank states that:

"The bank often explores possibilities to expand its operations in the insurance sector, including, if deemed appropriate for its interests, the acquisition of existing insurance businesses.

If and when there is a specific development for the realization of such an eventuality, the investing public will be properly informed."

It is noted that information that has seen the light of day suggests that Hellenic Bank showed interest in acquiring CNP Cyprus, a subsidiary of the French insurance giant CNP Assurances.

According to the same information that saw the light of day, the discussion process for the sale of the CNP subsidiary in Cyprus began approximately two months ago while the period of time by when it will be concluded is currently unknown.

(Source: InBusinessNews)

Read More

CySEC roundtable: Technologies, legislation the biggest challenges facing European markets
EIB Vice President in Cyprus for contacts
Artemis Credit Bureau to launch corporate ESG certification platform in March
€365m profit reported in Hellenic Bank Group financial results for 2023
Bank of Cyprus Group generated profit after tax of €487m in 2023
The current Central Bank Governor has been tried and tested
Consulco’s London Credit Fund surpasses target returns
Competition watchdog greenlights Eurobank-Hellenic deal
Annita Pavlou: "Bank of Cyprus leads the way in shaping a sustainable future"
AstroBank: The top choice for investment services