Eurobank Expands Its Dominance In Cyprus, Acquiring 93.47% of Hellenic Bank

by THEFUTURE.TEAM

February 11, 2025

Eurobank Group has completed its acquisition of a further 37.5% stake in Hellenic Bank, elevating its total ownership to a commanding 93.47%. This move solidifies Eurobank’s position as the dominant force in Cyprus’s banking sector.

In conjunction with this acquisition, Eurobank has made a public offer to buy out the remaining shareholders of Hellenic Bank, signaling its intent to consolidate control.

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The deal represents a significant turning point for Hellenic Bank, as Eurobank takes over shares previously owned by Demetra Holdings Plc, Logicom, and the Cyprus Union of Bank Employees (ETYK). With this substantial stake, Eurobank has officially become the majority shareholder, marking the start of a new era for the bank.

This acquisition is seen as a boost for the Cypriot banking industry, promoting stability and fostering growth and innovation. It also emphasizes Cyprus’s growing appeal to international investors. Eurobank’s acquisition is set to make the combined entity the largest bank in Cyprus, enhancing its capacity to drive economic progress and financial development across the nation.

Now part of a larger regional financial powerhouse, Hellenic Bank is poised to benefit from Eurobank’s expertise and operational excellence. This partnership will not only improve service quality but also foster stronger customer relationships and drive a major digital transformation.

For both Hellenic Bank and its customers, this acquisition marks the start of an exciting new phase—one that promises enhanced banking experiences backed by Eurobank Group’s powerful resources and capabilities.

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Lithuania And Cyprus Forge Enhanced Partnership In Tourism And Defence

by THEFUTURE.TEAM

May 22, 2026

Expanding Cooperation Beyond The Surface

Kristupas Vaitiekūnas highlighted opportunities for closer cooperation between Lithuania and Cyprus during his visit to Nicosia for the informal ECOFIN meeting. Speaking to the Cyprus News Agency, the Lithuanian finance minister said both countries share common challenges and could expand collaboration in areas including tourism, defence and financial services.

Addressing Shared Challenges

Finance Minister Kristupas Vaitiekūnas said Lithuania and Cyprus face similar security and economic pressures despite their geographic differences. Particular attention was given to emerging security threats, including drone-related risks, alongside the importance of maintaining resilient financial sectors. According to Vaitiekūnas, stronger coordination in those areas could deliver long-term economic and strategic benefits for both countries.

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Focus On Fiscal Stability And Energy Security

Discussions at the ECOFIN meeting are expected to focus on Europe’s economic outlook, energy market volatility and fiscal stability. Kristupas Vaitiekūnas warned that instability in the Middle East could continue affecting oil markets and broader economic performance across Europe. Housing affordability was also identified as a growing challenge, with rising property prices in cities such as Vilnius reflecting broader pressures seen across European markets.

Coordinated Energy Strategy And Future Investments

The Lithuanian finance minister also called for a more coordinated European approach to energy and economic resilience. Vaitiekūnas suggested that targeted and temporary policy measures could prove more effective than large-scale structural reforms in addressing short-term pressures. Lithuania continues to increase investment in renewable energy generation and storage infrastructure as part of efforts to strengthen energy independence and begin producing surplus electricity by 2028.

Support For Ukraine And Enhancing Defence Funding

Finance Minister Kristupas Vaitiekūnas reaffirmed Lithuania’s support for Ukraine, describing the war as a broader struggle tied to European security and democratic values. He also backed accelerating Ukraine’s accession process to the European Union, arguing that deeper integration would strengthen regional stability and economic prosperity. Vaitiekūnas welcomed the EU’s SAFE programme, which is expected to support Lithuania’s defence capabilities while contributing additional assistance to Ukraine.

Looking Ahead To A More Unified Europe

Addressing the European Union’s future budget framework, Kristupas Vaitiekūnas said increased funding for security and defence represented a positive development. At the same time, he warned that reductions in cohesion funding and agricultural support could negatively affect purchasing power and long-term European unity. Lithuania is expected to place continued emphasis on Ukraine and regional security ahead of its upcoming EU Council Presidency in early 2027.

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