Eurobank Cyprus and Hellenic Bank have officially begun operating today, 1 September, as a single institution, following the completion of all regulatory approvals and the transfer of Eurobank Cyprus’s assets and liabilities to Hellenic Bank.
The merger, long in preparation, was formally confirmed earlier this year, when executives said the consolidation would create a stronger, modern financial organisation capable of supporting the Cypriot economy. Today, that plan has moved from paper to practice, with the two banks now functioning under one roof.
Eurobank gets to work – The new headquarters building
From the very first day, changes are already visible. New signage is being introduced across branches, beginning with two to three in each city this week, while all external branding is expected to be completed within six weeks.
Mobile banking applications are scheduled to transition later this week, although account numbers and IBANs remain unchanged to minimise disruption. The bank has underlined that uninterrupted service to clients remains its top priority.
The merged entity will also adopt a new corporate identity, with Hellenic Bank Public Company Ltd rebranded as Eurobank Ltd. Executives say the new name represents a shared vision of sustainable growth, technological progress and customer-focused service.
Group CEO Michalis Louis described the merger as “a historic milestone for the Cypriot banking sector and for all of us within the Group.” He added that the consolidation creates “a strong, unified organisation with deep expertise and capacity,” positioning Cyprus as both a major bancassurance market and a financial bridge between the EU and its wider region.
Eurobank Group’s deputy CEO, Stavros Ioannou, previously signalled that the new institution will expand into asset and wealth management, bancassurance products, real estate and syndicated lending abroad, while also exploring new markets such as Saudi Arabia, the UAE and India. The bank recently opened a representative office in Mumbai, aiming to establish Cyprus as a hub connecting Europe and India.