40 h. ago Cyprus Business Now: Building permits, Hellenic Bank, Tourism, House prices

The number of building permits issued in Cyprus during October 2024 fell to 470, marking a 25.6 per cent decline compared to the 632 permits issued in October 2023, according to data released by the state statistical service. The total value of these permits reached €177.8 million, covering a total area of 147,000 square metres. […]

Economics

61 h. ago Hellenic Bank shares set for delisting as Eurobank nears full ownership

Eurobank has outlined its strategic objectives following the acquisition of 100 per cent of Hellenic Bank in its public offer document, which details the roadmap for the acquisition process. The bank intends to proceed with the necessary steps to delist Hellenic Bank’s shares from the Cyprus Stock Exchange (CSE) upon completion of the offer. The […]

Politics

3 d. ago Cyprus Business Now:  tourist units without licence, EU’s Energy, Eurobank, Hellenic Bank

The European Union has taken a significant step towards ensuring affordable, efficient, and clean energy for its citizens through its newly announced Action Plan for Affordable Energy. The plan, revealed on February 26, 2025, by European Commission President Ursula von der Leyen, is designed to highlight the true value of the EU’s Energy Union while […]

Economics

4 d. ago Hellenic, Eurobank volunteers take part in Cape Greco green actions

Aware of its own responsibility and the important role all are called upon to play in protecting the environment, Hellenic Bank, a member of the Eurobank Group, is doing its part for a greener Cyprus. On the initiative of the Commissioner for the Environment and Animal Welfare Antonia Theodosiou, and in cooperation with the Cyprus […]

Politics

6 d. ago Our View: Is it the end of the line for voluntary exit schemes?

There is an unwritten law in Cyprus by which banks and semi-governmental organisations cannot make staff redundant. They can only offer a voluntary exit scheme by which it is up to an individual worker to decide whether he or she will take the ultra-generous pay-off and leave, while the employer has no real say in […]

Politics

7 d. ago Cyprus Business Now: Bank of Cyprus, Cyprus’ airports, Eurobank, Hellenic bank

The Bank of Cyprus on Thursday announced that it has received the Quality Recognition Award from global financial services firm JP Morgan Chase. The award, which the Bank of Cyprus has won for the fourth year running, is given in recognition of excellent funds transfer processes under SWIFT. In its statement, the bank noted that […]

Economics

8 d. ago Cyprus regulator approves Eurobank’s takeover offer for Hellenic Bank

The Cyprus Securities and Exchange Commission (CySEC) has approved Eurobank’s public offer document for the acquisition of up to 100 per cent of Hellenic Bank’s issued share capital. The approval allows the publication of the document, which was officially released on March 5, 2025. Eurobank currently holds 385,847,001 shares in Hellenic Bank, representing 93.47 per […]

Politics

8 d. ago Cyprus Business Now: Cyprus as an investment destination, Hellenic Bank, Fintech investment

Konstantin Zapolianski, Senior Investment Director at Zubr Capital, recently spoke to the Cyprus Mail about Cyprus’ growing potential as a destination for technology and digital industries. With the ICT sector contributing up to 15 per cent of the country’s GDP and generating approximately €4 billion in revenue in 2024, Cyprus is positioning itself for further growth.  Zapolianski shares […]

Economics

1 week ago Hellenic Bank’s voluntary exit scheme nears deadline with limited uptake

The deadline for Hellenic Bank employees who wish to accept the bank’s latest, and reportedly last, voluntary exit scheme ends today, after being announced in mid-February. However, interest in the scheme has not reached the levels desired by the bank, according to reports that emerged on Tuesday. Hellenic Bank aimed to reduce its workforce by […]

Events

1 week ago Cyprus Business Now: Alpha Bank, mall property sale, Hellenic Bank, startups

The legal merger between Eurobank and Hellenic Bank is expected to be completed within the first quarter of 2025, with the final step, the operational merger, scheduled to take place over the following two years. According to Eurobank Holdings’ latest financial results, the bank recorded a €99 million contribution to its net profits from acquiring […]

Economics

2 w. ago Cyprus Business Now: Hellenic Bank, tourism, unemployment, startup ecosystem

Hellenic Bank on Thursday reported a net profit of €383 million for the full year 2024, highlighting its strong financial performance and solid capital position. “2024 was a landmark year for Hellenic Bank in terms of financial performance and ownership structure,” said chief executive officer Michalis Louis. “The bank achieved strong financial performance in 2024 […]

Economics

2 w. ago Logicom received €13.7m from Hellenic Bank for IT services in 2024

Hellenic Bank made payments totalling €13.7 million in 2024 to Logicom Solutions Limited and its subsidiary, NewCytech Business Solutions Ltd, according to an announcement following the bank’s preliminary financial results for the year. The payments were made under agreements between Hellenic Bank Public Company Ltd and the firms Logicom Solutions Limited, NewCytech Business Solutions Ltd, […]

Politics

2 w. ago Hellenic Bank posts €383 million profit for 2024 — Eurobank merger imminent

Hellenic Bank on Thursday reported a net profit of €383 million for the full year 2024, highlighting its strong financial performance and solid capital position. “2024 was a landmark year for Hellenic Bank in terms of financial performance and ownership structure,” said chief executive officer Michalis Louis. “The bank achieved strong financial performance in 2024 […]

Economics

2 w. ago Hellenic Bank expresses support for Cyprus hospitality sector

Hellenic Bank reaffirmed its commitment to Cyprus’ hospitality industry with its participation at the 46th Cyprus Hotel Summit and Horeca Expo in Limassol, where sector challenges and opportunities were brought to the forefront. The conference, organised by the Cyprus Hotel Association (Pasyxe), focused on innovation and growth, sending a strong message of optimism, resilience, and […]

Politics