Eurobank S.A. has been honoured at the 13th Invest Cyprus International Investment Awards for its decisive contribution to the Cypriot economy through its strategic investment in Hellenic Bank and its vote of confidence in the country’s banking system and economy.

The award ceremony was held at the annual awards organised by Invest Cyprus in collaboration with GOLD magazine, in the presence of the President of the Republic of Cyprus.

With an investment of €1.3 billion, Eurobank has made the largest foreign direct investment ever recorded in Cyprus, enhancing the country’s international profile as an international financial hub and marking a new chapter for the domestic banking market.

Receiving the award, Chairman of Eurobank’s Board of Directors George P. Zanias warmly thanked the organisers for the distinction “Our investment in Cyprus is not just about acquiring a bank. It represents a strategic positioning at the heart of the Cypriot economy and demonstrates our long-standing commitment to creating long-term value and positive impact for society and the customer,” he said.

For his part, Eurobank Deputy CEO Stavros Ioannou, underlined the Group’s growth vision and the dynamic prospects of Cyprus in the international environment.

“This honorary distinction confirms our strategic consistency and long-term vision for Cyprus as a pillar of regional development. With the merger of Hellenic Bank and Eurobank Cyprus, we are forming the largest banking organisation in the country and we are investing substantially in technology, innovation and specialised services, with the aim of providing high quality services and deepening trusted relationships with our clientele,” he noted.

“Cyprus is taking on an enhanced role in the Group as a hub for wealth management, fintech, real estate and international Finance, being at the core of our strategic vision as a regional financial hub and bridge between Europe, the Middle East and North Africa,” he continued. “Our investment is a vote of confidence in the future of Cyprus and, at the same time, a long-term commitment to stable, sustainable and inclusive growth.”

The acquisition of Hellenic Bank and its pending merger with Eurobank Cyprus usher in a new era of growth, innovation and value for customers. The resulting new entity, Eurobank Ltd, with assets of €28 billion, consolidates the Group’s leading presence in Cyprus and strengthens the country’s position as a centre of banking and financial activity in the region.

With expected synergies of €120 million, most of which are expected to be realised during the year, Eurobank is actively strengthening sustainable growth and the real economy, confirming its commitment to value-creating strategies that create lasting value.