A new chapter began in the Cypriot banking market on September 1, 2025: Hellenic Bank officially ceased to exist, becoming part of Eurobank Limited. This merger is the largest in Cyprus's financial history in recent years and marks the end of the Hellenic Bank brand after nearly half a century.
The bank's signs will gradually be replaced with Eurobank ones. The Hellenic Bank sign has already been removed from the main building in Nicosia. Over the next two months, the exteriors of all 52 branches will undergo complete renovations, followed by interior modernizations. Full integration of digital and operational systems is expected to be completed within two years.
What can Hellenic Bank customers expect?
The main question for thousands of Cypriot customers is, "What has changed since Monday?" In fact, there will be no radical changes for the time being. All existing accounts, IBANs, and numbers will remain the same. Bank cards, PIN codes, online banking, and the Hellenic Bank mobile app will continue to function as usual.
Credit and debit cards will eventually be replaced with new cards bearing the Eurobank logo, but this process will be gradual. Customers do not need to take any action until they receive a notification. All limits, credit card expiration dates, and terms of service will remain the same.
An important note for business and personal customers is that transfers between Hellenic Bank and Eurobank Cyprus are now free, as they are now one entity. However, the terms and conditions for domestic transfers and international payments remain unchanged.
Deposit and loan guarantees
All existing contracts, including deposit and loan terms and interest rates, are legally valid. Loan agreements will not change, even if the loan was approved before the legal completion of the merger but has not yet been issued. This rule applies to both individuals and corporate customers. The storage of valuables in safe deposit boxes also continues unchanged.
Here's what Eurobank Cyprus customers need to know
The situation is stable for Eurobank Cyprus customers as well. Their cards and the Eurobank Cyprus mobile app continue to work as usual, and their logins and passwords remain the same. Cash withdrawals from ATMs are still free, and the terms and conditions for loans and investment products remain the same.
The only caveat is that Eurobank Cyprus customers will not be able to participate in the Blue Card cashback bonus program for the time being. However, the bank is already working on expanding its loyalty program.
Long-Term Changes and Impact on the Market
Experts note that the merger of Hellenic Bank and Eurobank Cyprus creates the second-largest player in the Cypriot banking market, behind Bank of Cyprus. This will increase competition in the mortgage lending, business services, and digital services segments.
The merger is also seen as a step toward consolidating the Cypriot banking sector further, in line with general EU trends. Regulators are seeking more sustainable and capitalized financial institutions.