Newsroom
The new bank that will emerge from the much-anticipated merger between Hellenic Bank and Eurobank Cyprus will operate under a single name: Eurobank.
This was the outcome of a brand study commissioned by Hellenic Bank, as revealed two months ago by CEO Michalis Louis. The bank hired a consulting firm familiar with the Cypriot retail and business banking market to look into possible names for the merged entity.
According to Kathimerini's Panayiotis Rougalas, the choice was straightforward. Since Eurobank Group now owns 100% of Hellenic Bank, it made sense for the unified brand to carry the name already recognized across the region, Eurobank.
However, the final decision is still subject to approval by regulatory authorities and the internal governance of the two banks.
The merger is being rolled out in phases, starting with the legal unification of the two institutions. This is on track to be completed by the end of June, according to Hellenic Bank executives.
Once that’s done, attention will shift to the operational integration, combining systems, policies, and processes. This is expected to be a much longer process, likely taking up to two years, according to CEO Louis in comments made before Easter.
Speaking at Eurobank S.A.’s General Assembly, CEO Fokion Karavias emphasized the strategic importance of the Hellenic acquisition, describing the new bank in Cyprus as a gateway to Europe for investments coming from India, the Middle East, and the Gulf.
He also framed the merger as part of a broader regional strategy, with Cyprus becoming a key hub for growth and prosperity in the southeastern Mediterranean.
According to Hellenic Bank’s latest financial results, the post-merger bank is set to become one of the largest financial institutions in Cyprus.
“The bank is continuing to implement its strategy as it moves towards full legal and operational integration,” Louis said. “Once the transition is complete, we’ll reassess our strategic plan to align it with the vision of a unified entity.”
The goal, he said, is to ensure a smooth transition and build a strong, forward-looking bank under a single name and a shared vision.
