Filenews 23 June 2025
The strategic merger created Eurobank, the strongest financial institution in Cyprus.
Two of Cyprus' most important financial institutions combine their history, experience and expertise in a long-term strategic merger. Hellenic Bank and Eurobank Cyprus become one and reshape 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 presence of Hellenic Bank and the infrastructure of a large international financial institution such as Eurobank, a single and strong Bank is created that covers every need of its customers, entrepreneurs or individuals, who gain access to even more competitive products.
New name, stronger dynamics
Eurobank Group is making a huge investment in Cyprus of €1.3 billion, demonstrating its confidence in the Cypriot economy and the country's prospects as a regional financial and investment hub. The weight given to this investment is also reflected in the brand name of the new banking "giant" that is being created. The management of the banking groups conducted in-depth investigations and discussions before coming up with the Eurobank brand, opening a new era for Hellenic Bank, whose name bears a deep relationship of trust in the Cypriot market.
The name may change, the dynamics and size of the Bank may increase, but the Bank's executives are committed that the commitment to common values, the customer-centric culture and the dedication to the Cypriot market remain unchanged. The promise to customers is that they stay by their side, maintaining what established them as a top choice: excellent service, safety, innovation and a range of competing products and services.
The numbers show the strong foundations
The new Eurobank is the strongest financial institution in the country and is based on the strong foundations that Hellenic Bank has laid, as confirmed by the figures: €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. In addition, in 2024, the Bank actively supported the Cypriot economy, yielding more than €61.5 million. It is one of the largest employers in the country, employing more than 3,000 workers.
Nothing changes for customers
The consolidation process is proceeding in defined stages, with the aim of the full legal unification of the two agencies at the beginning of July. Throughout the transition period, the Bank's main priority is to provide uninterrupted and uninterrupted customer service, who will be immediately informed about developments and changes that concern them.
For the time being, there is no need to take any action on the part of the customers. In particular, cards and chequebooks, IBANs and account numbers, card PINs and codes of Online Banking and mobile applications remain valid. Standing orders and transfers are not affected, while the terms of the accounts and the service officer remain the same. Gradually, the creation of joint branches for customers (branch-in-branch) will begin, so that if they have an account with both banks they can be served in one visit. However, for the next period, customers will continue to be served normally from their store.
The creation of the strongest Bank in Cyprus creates a new perspective 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 network of branches, with a wider range of products and services, innovative banking solutions, enhanced stability and security, upgraded service experience, great potential for digital transformation and technological development. The merger creates an organization that is more resilient, more competitive and with a greater capacity to meet 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 is carefully designed to ensure continuity and reliability in service. Change does not happen overnight – but constantly, responsibly and with respect to the customer.
