Hellenic Bank

What Hellenic Bank does

Hellenic Bank was a Cypriot banking and insurance group founded in 1976 and headquartered in Nicosia, supervised under the European Central Bank's Single Supervisory Mechanism and listed on the Cyprus Stock Exchange. The bank operated a full-service retail and commercial banking franchise spanning deposit accounts (basic, current, savings, fixed deposit, notice, youth), lending products (housing, car, consumer, professional, student loans), card products (credit, debit, prepaid), and digital wallets. It served personal banking, business banking (SMEs and corporate), wealth management, and international client segments across Cyprus through an extensive branch network and digital channels (online banking, mobile app, open banking APIs).

Following its 2025 transformation, Hellenic Bank completed the EUR 182 million acquisition of CNP Cyprus from CNP Assurances in April 2025, creating the largest insurance group in Cyprus through ERB Cyprialife (life) and ERB Asfalistiki (general). In June 2025, Eurobank S.A. completed the full acquisition of Hellenic Bank in a transaction valued at approximately EUR 1.3 billion, and in late 2025 Hellenic Bank was merged with Eurobank Cyprus to form Eurobank Limited, Cyprus' largest financial institution with assets exceeding EUR 28 billion, 65 branches, and the country's largest ATM network. The combined entity operates digital banking, digital signatures, open banking third-party connectivity, and an AI project in partnership with Microsoft, EY, and Fairfax Digital Services. Hellenic Bank Public Company Ltd no longer exists as an independent operating company; its operations are now part of Eurobank Limited under Greek parent Eurobank S.A.

Name

Hellenic Bank

Legal name

Hellenic Bank Public Company Ltd

Website

https://hellenicbank.com

Company type

Private

Founded year

1976

Operating status

Acquired

Headcount range

1,001–5,000 employees

Short description

Hellenic Bank was a Cypriot banking and insurance group serving retail, SME, corporate, and wealth clients across Cyprus through deposits, lending, cards, and insurance. Following its 2025 EUR 1.3 billion acquisition by Eurobank S.A., it merged with Eurobank Cyprus to form Eurobank Limited.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (522110)

SIC

Commercial Banks, Nec (6029), State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Retail banking
• Business banking
• Wealth management
• Insurance products
• Consumer lending

Headquarters

HQ city

Nicosia

HQ country

Cyprus

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Banking Services: Traditional banking revenue including interest income from lending activities (housing loans, car loans, consumer loans, professional loans, business loans) and fee income from account services, transactions, and credit cards.
2. Insurance Services: Following the EUR 182 million acquisition of CNP Insurance Group's Cyprus operations, the bank generates revenue through life insurance (ERB CYPRIALIFE) and general insurance (ERB ASFALISTIKI) products.
3. Wealth Management: Wealth management services including investment products and portfolio management for high-net-worth individuals.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Hellenic Bank is a Cypriot banking and insurance group offering retail banking (current accounts, savings, mortgages, consumer loans, payment cards), business and corporate banking, wealth management, and insurance products. Following its 2025 acquisition by Eurobank S.A., it merged with Eurobank Cyprus to form Eurobank Limited, operating as the largest bank in Cyprus with assets over EUR 28 billion, 65 branches, and the country's largest ATM network.

Product overview

Hellenic Bank, now operating as Eurobank Limited following the merger with Eurobank Cyprus, offers a unified banking platform providing comprehensive retail and corporate banking services. The product portfolio centers on core deposit accounts (Basic, Current, Joint, Savings, Fixed Deposit, Notice, and youth accounts), card products (Credit, Debit, Prepaid with digital wallet support), lending solutions (Housing, Car, Consumer, Student, and Professional loans), and digital banking channels (Online, Mobile, and API-based Open Banking). Insurance offerings are delivered through sub-brands ERB CYPRIALIFE (life insurance) and ERB ASFALISTIKI (general insurance), created from the integration of CNP Cyprus operations. The bank operates Cyprus's largest ATM network and provides digital signature capabilities for paperless banking.

Differentiator

Problem solved

Functional benefit

Products and services

• Retail Banking Services
• Business and Corporate Banking
• Insurance Products
• Wealth Management
• Digital Banking Services
• ATM Network Services

Quantifiable outcome

• Created Cyprus' largest bank with assets exceeding EUR 28 billion following merger
• +1 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Four partnerships are on record, tiered major and core.

• CNP AssurancesmajorStrategic or Co-development Partner · 16 April 2025CNP Assurances completed the sale of CNP Cyprus to Hellenic Bank for EUR 182 million. The merger unified CNP Cyprus' operations with Hellenic Bank's insurance subsidiaries, forming ERB Cyprialife and ERB Asfalistiki.
• Fairfax Digital ServicescoreTechnology or Integration · 1 January 2025Eurobank launched a new AI project in partnership with Fairfax Digital Services, EY, and Microsoft. This represents a significant technology investment for digital transformation of banking operations.
• MicrosoftcoreTechnology or Integration · 1 January 2025Microsoft is a key technology partner in Eurobank's AI project and digital transformation initiative, providing cloud infrastructure and AI capabilities.
• EYcoreImplementation/ SI/ Consulting Partner · 1 January 2025EY serves as consulting partner in Eurobank's AI project and digital transformation, providing advisory and implementation services.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bank of Cyprus: Bank of Cyprus is the largest Cypriot bank by market capitalization and Hellenic Bank's primary domestic competitor. Both offer comprehensive retail, business, and wealth banking services across Cyprus and compete directly for mortgage, deposit, and corporate banking customers.
• Alpha Bank Cyprus: Alpha Bank Cyprus is a subsidiary of Alpha Bank Group (Greece) operating in Cyprus with retail and business banking services. It is a direct peer competing for the same customer segments with mortgage rates (2.27%) among the most competitive in Cyprus.
• AstroBank: AstroBank is a Cypriot bank formed from the former Cyprus Cooperative Bank, offering retail and business banking services across Cyprus. It is a direct peer competing for the same domestic customer base with similar product portfolios.
• RCB Bank: RCB Bank is a Cypriot commercial bank offering retail, business, and wealth banking services with a focus on international clients. It is a direct peer competing for the same corporate and high-net-worth customer segments in Cyprus.

Broad incumbents

• Eurobank S.A. Eurobank S.A. is the Greek parent bank that acquired Hellenic Bank for EUR 1.3 billion. It is a systemic Greek bank with EUR 108 billion in total group assets operating across Greece, Cyprus, and Bulgaria, making it the ultimate parent and a broader incumbent peer.
• National Bank of Greece: National Bank of Greece is a major Greek systemic bank with historical ties to Cyprus through the Cypriot banking sector. It is a broader incumbent peer with similar product offerings in retail, business, and wealth banking.
• Alpha Services and Holdings: Alpha Services and Holdings is the parent of Alpha Bank, one of the four systemic Greek banks. It is a broader incumbent peer with comparable retail, business, and wealth banking services across Greece and Cyprus.

Regional players

• Piraeus Bank: Piraeus Bank is a major Greek systemic bank with operations spanning Greece and Southeast Europe. It is a regional peer with comparable corporate banking, retail, and wealth management services in the broader Greek-Cypriot banking ecosystem.
• Cyprus Development Bank: Cyprus Development Bank is a Cypriot development finance institution focused on supporting business and economic development. It serves as a regional peer in the Cypriot banking ecosystem with overlapping business banking customers.

Others

• CNP Assurances: CNP Assurances is a major French insurance group that sold its Cyprus operations (CNP Cyprus) to Hellenic Bank for EUR 182 million. It is a comparable insurance and bancassurance peer, particularly relevant for the ERB Cyprialife and ERB Asfalistiki insurance subsidiaries.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hellenic Bank