Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., announced the receipt of all required regulatory approvals for the merger of its wholly owned subsidiaries in Cyprus, i.e. Hellenic Bank and Eurobank Cyprus, marking the beginning of a new era for the banking sector in Cyprus.
In accordance with the Cypriot Transfer of Banking Business and Collateral Law of 1997, on September 1, all assets and liabilities of Eurobank Cyprus will be transferred to Hellenic Bank. The merger of the two organizations creates a single, strong and modern financial institution, which will be able to provide upgraded banking and insurance services to its customers, contributing to the development of the Cypriot economy.
At the same time, the process of renaming Hellenic Bank to Eurobank Limited is progressing. The new name expresses the common vision, dynamism and innovation of the Eurobank Group, reflecting the consolidated organization’s strategy for sustainable development and customer-centric approach.
