Hellenic Bank’s branch network will be renamed Eurobank following the merger of Hellenic Bank with Eurobank Cyprus, with the combined entity operating as a single organisation in the market.
As previously indicated by Hellenic Bank’s CEO Michalis Louis, an external consultancy firm was commissioned to study potential names for the new unified entity.
It appears the chosen name, based on the firm’s research, will be Eurobank – the name of the group that acquired 100% of Hellenic Bank’s shares. Any final decision remains subject to approval by the relevant supervisory authorities and the bank’s internal procedures.
The first milestone in the process concerns the legal merger, for which relevant approvals are awaited, followed by operational integration (including systems).
The operational merger process is expected to be time-consuming and could take up to two years, as Mr Louis highlighted during a recent media briefing.
In the announcement of the first quarter 2025 results, Louis stated: “Following the successful completion of the mandatory public takeover bid, the Eurobank Group has increased its participation to approximately 98% and is now proceeding with securing full ownership.”
“As a member of the Eurobank Group, we are focusing on the integration of Hellenic Bank with Eurobank Cyprus, further improving our customers’ experience, supporting economic development and creating value for our customers.”
He added: “Furthermore, the acquisition of CNP Cyprus Insurance Holdings has been completed. These developments represent significant milestones in our pursuit to become one of the leading financial service providers in Cyprus.”
