Eurobank revealed as the name of Eurobank Cyprus and Hellenic Bank’s new consolidated entity

The die has been cast and the decision has been made regarding the name under which the consolidated bank that will result from the upcoming merger of Hellenic Bank with Eurobank Cyprus will operate as a now consolidated entity in the Cypriot market.

As InBusinessNews has been informed, the new consolidated bank will make its official debut and will operate under the commercial name Eurobank upon the completion of the legal merger of the two banks, Hellenic Bank and Eurobank Cyprus.

Its appearance on the market as Eurobank is scheduled for 1 July, with the decision on the name being made based on the findings of a major strategy study conducted on behalf of the group by one of the leading organisations in the field of market research and strategic consulting in Cyprus.

The findings of the study were presented last week to the executives of the Eurobank group by the organisation that conducted it, while the final decision on the name was taken on 20 May.

The name of the consolidated banking organisation, Eurobank, is considered to provide great momentum and with the potential to act as a driving force for the new bank, representing and reflecting precisely the enormous momentum that accompanies the brand as a banking group of pan-European prestige and reach.

However, sources from the bank, speaking to InBusinessNews, without confirming or denying our information, stated only that any decision is subject to the organisation's internal procedures, as well as the supervisory authorities.

"The best and largest bank"

It is recalled that the objectives of the merger of Hellenic and Eurobank Cyprus, as repeatedly stated by both the CEO of Eurobank SA Fokion Karavias and the CEO of Hellenic Bank Michalis Louis, are summarised as the creation of the best and largest bank on the island.

As has been emphasised in this regard, the fact that the business models of the two banks are complementary is expected to further strengthen the products and customer service provided.

(Source: InBusinessNews)