Hellenic Bank And Eurobank Cyprus: Ushering In A New Era For Cypriot Finance

by THEFUTURE.TEAM

August 29, 2025

Hellenic Bank has secured all essential supervisory approvals to finalize its merger with Eurobank Cyprus on September 1. This pivotal consolidation marks the beginning of a transformative chapter in Cyprus’ banking sector.

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Regulatory Endorsement And Seamless Asset Transfer

In accordance with the Transfer of Banking Business and Collateral of 1997, all assets and liabilities of Eurobank Cyprus will be seamlessly transferred to Hellenic Bank on the designated date. This strategic move ushers in a robust financial institution poised to offer upgraded banking and insurance services, supporting the broader economic growth of Cyprus.

Strategic Consolidation And Enhanced Market Position

The merger represents more than a structural consolidation; it is a visionary leap towards creating a modern entity capable of responding to evolving market dynamics. With integrated banking and insurance operations, the newly formed institution is expected to deliver comprehensive solutions to meet contemporary financial needs.

Rebranding To Reflect A Forward-Thinking Vision

In parallel with the merger, the bank is progressing with a rebranding initiative from Hellenic Bank Public Company Ltd to Eurobank Limited. This change is emblematic of the Eurobank Group’s strategic vision, characterized by dynamism, technological innovation, and a customer-centric focus. The new brand identity is set to reinforce the group’s reputation for sustainable development and forward-thinking financial services.

A Vision For Sustainable Growth And Technological Advancement

Chief Executive Michalis Louis has described the merger as a historic milestone for Cyprus’ banking landscape. By integrating deep industry expertise, advanced technological capabilities, and a commitment to customer service, the new Eurobank Limited is poised to become the largest bancassurance organization on the island. This strategic consolidation reinforces Cyprus’ status as an international financial hub and signals a renewed focus on sustainable, technology-driven growth.

In conclusion, the merger and rebranding initiative articulate a clear commitment to delivering secure, innovative financial solutions, all while maintaining a seamless transition that honors the trust placed in the institution by customers, partners, and the wider community.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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