The bank Eurobanksubsidiary of Eurobank Ergasias and participation SA announces the receipt of all the required supervisory approvals for the merger of its 100% subsidiaries in Cyprus, namely the Hellenic Bank Public Company Limited (“Hellenic Bank”) and Eurobank Cyprus, which also marks the start of a new era for its banking sector Cyprus.
According to the Cyprus issue on the transfer of banking and collateral law of 1997, on 1 September the transfer of all Eurobank Cyprus assets and liabilities to the Hellenic Bank will be transferred.
The merger of the two organizations creates a single, powerful and modern financial organization, which can provide upgraded banking and insurance services to its customers, supporting the growth of the Cypriot economy.
At the same time, the process of changing the brand of the Hellenic Bank to Eurobank Limited. The new name expresses the common vision, dynamics and innovation that characterize the Eurobank group, reflecting the consolidated organization’s strategy for sustainable development and a customer -centric approach.