Hellenic Bank has received all necessary supervisory approvals to complete its merger with Eurobank Cyprus on September 1, according to the announcement, marking what it described as a new chapter for the country’s banking sector.

Under the transfer of Banking Business and Collateral of 1997, all assets and liabilities of Eurobank Cyprus will be transferred to Hellenic Bank on that date.

The consolidation will create a strong and modern financial institution, which the lender said will be able to offer upgraded banking and insurance services while supporting the development of the Cypriot economy.

At the same time, the bank confirmed that the process of changing its name from Hellenic Bank Public Company Ltd to Eurobank Limited is progressing.

It is mentioned in the statement that the new brand reflects the vision and strategy of the Eurobank Group, combining dynamism, innovation and a customer-centric approach.

Michalis Louis, chief executive, said the merger represents “a historic milestone for the banking sector in Cyprus and for all of us in the Group.”

He noted that the integration creates a unified organisation with “deep experience, know-how and momentum.” With a stronger presence in banking and insurance, the bank aims to provide “comprehensive and innovative secure solutions” tailored to modern needs.

“The new Eurobank Ltd is not just a change of name. It is the expression of a shared vision for sustainable development, technological progress and people-centered service,” Louis said, adding that the group is creating the largest bancassurance organisation in Cyprus and a strong pillar for the island’s role as an international financial centre.

He concluded that the priority remains a smooth and seamless transition “with absolute respect for the needs and expectations of our customers, our partners and the society that has trusted us over time.”