Eurobank Group acquires additional 37.5% stake in Hellenic Bank, reaching 93.47% ownership

10:16 - 11 February 2025

Financial Services Reporter

Eurobank Group has completed the acquisition of an additional 37.5% stake in Hellenic Bank by Eurobank Group, bringing its total shareholding to 93.47%.

Additionally, according to a related announcement, a public offer has been submitted to the remaining shareholders of Hellenic Bank.

According to the announcement, the acquisition marks another significant milestone for Hellenic Bank as Eurobank Group completes the acquisition of shares previously held by Demetra Holdings Plc, Logicom, and Cyprus Union of Bank Employees (ETYK).

With a 93.47% ownership stake, Eurobank Group is now the majority shareholder of Hellenic Bank, the announcement also notes, “ushering in a new chapter in its successful and long-standing journey.”
“This investment reinforces the stability of Cyprus’s banking sector, promotes growth and innovation, and highlights the attractiveness of the Cypriot market to international investors,: the announcement went on to say.

It also noted that, “This acquisition will position the newly formed entity as the largest bank in Cyprus, enhancing its ability to drive financial progress in the country.”
As part of a major regional financial group, Hellenic Bank will now have access to expertise and best practices, leading to enhanced service quality, stronger customer relationships, and significant digital transformation, the announcement said.
“This marks the beginning of an exciting new phase for Hellenic Bank and its customers, as it leverages Eurobank Group’s capabilities to deliver superior banking experiences in Cyprus,” it concluded.

Eurobank Group acquires additional 37.5% stake in Hellenic Bank, reaching 93.47% ownership

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