Eurobank Plans Complete Ownership of Hellenic Bank by 2025

Deal News | Feb 28, 2025 | EIN

Eurobank Holdings has announced plans to complete its merger with Hellenic Bank by the first quarter of 2025. Eurobank currently holds a 93.5% stake in Hellenic Bank, with sights set on full ownership via a squeeze-out of the remaining 6.5% stake. The delisting of Hellenic Bank is anticipated to occur by the second quarter of 2025, pending regulatory approvals. This merger is expected to form one of the largest banking institutions in Cyprus, leveraging complementary business models. As of 2024, Hellenic Bank contributes significantly to Eurobank's assets and profits, reinforcing Eurobank's growth strategy focused on credit expansion, wealth management, and synergies within Cyprus. The operational merger is projected to occur over two years following the legal merger.

Sectors

Banking and Financial Services
Mergers and Acquisitions

Geography

Cyprus – The merger will create one of the largest financial institutions in Cyprus, involving local banking operations and synergies.
Greece – Eurobank Holdings is a major banking institution based in Greece, influencing its operations in regional markets such as Cyprus.

Industry

Banking and Financial Services – The merger involves major banks Eurobank and Hellenic Bank, focusing on expanding their banking operations and financial services in Cyprus.
Mergers and Acquisitions – The article discusses Eurobank's intended acquisition and merger with Hellenic Bank, involving stake acquisition and operational integration.

Financials

27.5 billion – Hellenic Bank's assets, contributing to Eurobank's total assets.
485 million – Hellenic Bank's contribution to Eurobank's net profits in 2024.
93.5% – Current stake Eurobank holds in Hellenic Bank.
383 million – Preliminary profits of Hellenic Bank for 2024.

Participants

Name	Role	Type	Description
Eurobank Holdings	Bidding Company	Company	A major banking institution in Greece aiming to complete the acquisition of Hellenic Bank to expand its operations in Cyprus.
Hellenic Bank	Target	Company	Hellenic Bank is being acquired by Eurobank and will be integrated to form one of the largest banks in Cyprus.
Fokion Karavias	CEO of Eurobank	Person	CEO of Eurobank, promoting the merger as a strategic expansion to leverage synergies and growth in Cyprus.
Michalis Louis	CEO of Hellenic Bank	Person	CEO of Hellenic Bank, highlighting 2024 as a pivotal year for the bank’s financial performance and ownership structure.