Insider Business Hellenic reassures co-op customers as it readies for take-over

Hellenic reassures co-op customers as it readies for take-over

Hellenic Bank has assured clients of the Cyprus Co-operative Bank that nothing will change as regards their banking transactions when Hellenic absorbs the good part of the CCB.

The assurances was given by Irena Georgiadou, who heads the committee set up at Hellenic to oversee the integration of the co-op into Hellenic.

She told Radio Active on Wednesday that the CCB’s banking licence expires on Friday and it will therefore not be in a position to carry out any transactions. On Monday, a new era dawns for Hellenic, she added.

The CCB branches that are to close will be announced by Friday noon, after which Hellenic will review the combined branch network over a period of a few months and decide which will be upgraded, which merged or renovated.

Co-op clients will in the next few days receive letters about the 40 branches that will close. Clients will have the right to choose their branch and whether they want to continue to cooperate with Hellenic.

As from Monday, loans, interest rates and loan instalments will remain unchanged. Transactions will continue with the same credit cards. CCB cheque books and passwords for internet access remain in force.

Hellenic will take over only performing loans, with non-performing loans to be transferred to the new asset management agency,

On Monday Hellenic will also welcome the new employees who will join it from the co-op.

The time schedule for the completion of the transition is 15 months, in line with undertakings made to the European Commission, supervisors and HB shareholders.


Top Stories

12-new covid cases at the same levels, nothing from abroad or schools

  12 new cases of Covid-19 were detected in Cyprus over the past 24 hours out of a total of 3 thousand 338 diagnostic tests. The...

Cyprus extends support to Armenia as FM calls counterpart

  Cyprus has expressed its deep concern over the escalating situation in Nagorno Karabakh over the past 48 hours and condemned 'the Azeri violation of...

International concern over Karabakh, as energy corridor is threatened (latest)

  Clashes erupted between Armenia and Azerbaijan over the volatile Nagorno-Karabakh region, reigniting concern about instability in the South Caucasus, a corridor for pipelines transporting...

38 C on Monday, close to 40 C on Tuesday, cooler on Wednesday

The warm air current affecting the island will take temperatures a touch under August levels over the next 48 hours, with 38 C on...

War fears in Karabakh as Armenia and Azerbaijan clash with civilian casualties

  Armenia declared martial law and mobilised its male population after clashes with Azerbaijan over the breakaway Nagorno-Karabakh region in which sources on both sides...



Sheftalies, a very tasty dish from the charcoal grill, are minced meat shaped into small sausages and wrapped in “panna” (suet). Panna is a...

Spicy grilled soutzoukakia

Place all ingredients for soutzoukakia in a bowl and mix well, preferably using a food processor, until well combined. Using the mixture, form cigar-shaped...


Pork souvlaki: Put the meat and all the other ingredients in a bowl (not metal) and mix well. Cover the bowl and keep in...

Pastelli (Carob Toffee)

The nutritional sweet of Pastelli is made with the syrup of carob pods, produced by boiling their pulp until it forms a thick, sticky...