Hellenic Bank and Eurobank Cyprus becoming one and reshaping the banking map

Two of Cyprus' most important financial institutions are combining their history, experience and know-how as part of a long-term strategic merger.

Hellenic Bank and Eurobank Cyprus are becoming one and reshaping the chessboard of the country's banking system, as well as the wider region.

Eurobank, as the new bank will be called from 1 July, is the largest and strongest player in the Cypriot banking sector, aspiring to act as a bridge for businesses wishing to invest and operate in emerging markets.

With enhanced capital adequacy and a stronger market position, the new bank offers an expanded range of services.

By bringing together the decades-old established presence of Hellenic Bank and the infrastructure of a large international financial institution such as Eurobank, a single and strong bank is being created, one that covers every need of its customers, whether businessmen or individuals, and who are gaining access to even more competitive products.

New name, stronger momentum

Eurobank Group is making a huge €1.3 billion investment in Cyprus, demonstrating its confidence in the Cypriot economy and the country's potential as a regional financial and investment hub. The weight given to this investment is also reflected in the name of the new banking "giant" being created.

The management of the banking groups conducted in-depth research and discussions before arriving at the Eurobank brand, opening up a new era for Hellenic Bank, whose name carries a deep relationship of trust in the Cypriot market.

The name may change, the bank's momentum and size may increase, but the its executives are committed to ensuring that the commitment to shared values, the customer-centric culture and the dedication to the Cypriot market remain unchanged.

The promise to customers is that they are remaining by their side, maintaining what established them as a top choice: excellent service, safety, innovation and a range of competitive products and services.

The numbers demonstrate strong foundations

The new Eurobank is the strongest financial institution in the country and is based on the strong foundations laid by Hellenic Bank, as confirmed by the numbers: €27 billion in total assets (loans, cash, investments, real estate), €8.6 billion in loans, €23 billion in deposits, 42% market share in deposits, 36% market share in loans.

Furthermore, in 2024 the Bank actively supported the Cypriot economy, contributing over €61.5 million in taxes and contributions, while it is one of the largest employers in the country, employing more than 3,000 employees.

Nothing is changing for customers

The integration process is progressing in defined stages, with the aim of the full legal integration of the two organisations in early July. Throughout the transition period, the bank's main priority is the uninterrupted and seamless service of its customers, who will be immediately informed of developments and changes that concern them.

For now, no action is required on the part of customers.

More specifically, cards and checkbooks, IBANs and account numbers, card PINs and Online Banking and mobile application codes remain valid. Standing orders and transfers are not affected, while the terms of the accounts and the service operator remain the same.

The creation of joint branches for customers (branch-in-branch) will gradually begin, so that if they have an account at both banks they can be served in one visit. However, for the time being, customers will continue to be served normally from their branch.

The creation of the strongest bank in Cyprus creates new prospects for customers.

Combining local experience with the international know-how of the Eurobank Group, the new Bank offers an upgraded banking experience in an expanded branch network, with a wider range of products and services, innovative banking solutions, enhanced stability and security, an upgraded service experience, great potential for digital transformation and technological development.

The merger creates an organisation that is more resilient, more competitive and with a greater ability to respond to the needs of households and businesses in an ever-changing environment.

A smooth transition with seamless customer service is an absolute priority for all parties involved.

The integration process has been carefully designed to ensure continuity and reliability in service. The change is not happening overnight, but steadily, responsibly and with respect for the customer.

(Source: InBusinessNews)