InsiderEconomyGreek lender Eurobank ready to purchase more shares in Cyprus' Hellenic Bank

Greek lender Eurobank ready to purchase more shares in Cyprus’ Hellenic Bank

Greek lender Eurobank S.A. is ready to proceed with the acquisition of over 30 percent of shares in Hellenic Bank and become the main shareholder in Cyprus’ second largest lender.

This is what Philenews reported on Tuesday citing Stavros Ioannou, Deputy CEO of Eurobank, Group COO & international operations.

Subject to regulatory approvals, Eurobank’s total holding in Hellenic Bank will soon amount to 29.2 percent following the conclusion of a share purchase agreement with Wargaming Group Limited. This was announced on December 30, 2022.

Ioannou disclosed that Eurobank is now one step away from acquiring more than 30% of the lender as it still lacks 0.8% of shares until it acquires full control in Hellenic Bank.

Ioannou also said Eurobank is steadily and consistently implementing a strategy to strengthen its presence outside Greece.

“We are always two steps ahead and remain open to new opportunities,” he said.

The pre-election period in Cyprus did not allow any moves by the Greek group since any shareholding expansion, apart from the agreement of remaining shareholders, requires briefing and approval of political and institutional stakeholders.



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