Hellenic Bank announced it has received all regulatory approvals for its merger with Eurobank Cyprus.
Under the Transfer of Banking Business and Securities Act of 1997, the transfer of all assets and liabilities from Eurobank Cyprus to Hellenic Bank will take place on 1 September.
The merger creates a unified financial organisation aimed at providing enhanced banking and insurance services whilst supporting the Cypriot economy. Hellenic Bank Public Company Ltd will simultaneously change its name to Eurobank Limited, reflecting the group’s sustainable development strategy and customer-centric approach.
Asset transfer scheduled for 1 September
Managing Director Michalis Louis stated: “Today’s development marks a historic milestone for Cyprus’s banking sector and for all of us in the Group. The consolidation of Hellenic Bank with Eurobank Cyprus creates a strong, unified organisation with deep experience, expertise and dynamism.”
Louis stressed the significance of the transformation: “The new Eurobank Ltd is not simply a name change. It is the expression of a common vision for sustainable development, technological progress and human-centred service.”
The managing director highlighted continuity as a priority: “Our priority remains the smooth and seamless transition to the new era.”
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