Hellenic Bank’s Bold Steps in 2025: A Dive into Their Financial Strategies

by News Editor

May 9, 2025

In a noteworthy first quarter of 2025, Hellenic Bank disbursed new loans amounting to €404 million, of which €75 million were dedicated to green financing, marking a significant 19% of their total loans. This strategic focus on sustainable finance highlights Hellenic Bank’s commitment to environmentally conscious lending.

Breakdown of New Loans

During the quarterly review (Read more), it was revealed that retail loans reached €123 million, with €87 million directed towards housing. Corporate loans totaled €105 million, while commercial loans and shipping/international credits accounted for €48 million and €127 million, respectively. Hellenic Bank’s dedication to solvency and prudence is evident as 99.6% of the loans issued post-2018 remain serviced.

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Performance Highlights and Market Position

CEO Michalis Louis noted a dynamic start to 2025 with the bank achieving €45 million in profits after voluntary exit plan expenses. Their market share in new lending increased to 25.2% as of March 31, 2025, from 20.3% at the end of 2024, underscoring their growth strategy. The bank also maintains a robust liquidity coverage ratio (LCR) of 493% with €5 billion in the European Central Bank, demonstrating financial stability.

Strategic Growth and Acquisitions

Hellenic Bank is poised for strategic integration with Eurobank Cyprus, reinforcing its financial service capabilities post the acquisition of a significant stake by Eurobank. Additionally, the completion of the CNP Cyprus Insurance Holdings acquisition sets the stage for increased market leverage (Explore more). This integration aligns with the goal to become a leading financial service provider in Cyprus.

Challenges and Interest Revenue

While net interest income fell by 9% due to reduced interest from loan portfolios and ECB rate cuts, Hellenic has offset this through enhanced income from repurchase agreements and decreased borrowing costs, as elaborated in their recent financial statements.

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Evel Elects New President As Maria Theocharous Takes Over For 2026–2029 Term

by THEFUTURE.TEAM

November 12, 2026

Maria Theocharous has been elected president of the Limassol Chamber of Commerce and Industry (Evel), taking over from Yiannis Tsouloftas for a three-year term covering 2026–2029. Theocharous previously served as the chamber’s vice-president for tourism.

The leadership transition marks a new chapter for one of Cyprus’ main regional business organisations, with the new board set to represent the district’s key economic sectors.

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New Leadership Emphasises Cooperation

The chamber’s annual meeting brought together government, business and local authority representatives, including Energy, Commerce and Industry Minister Michael Damianos, Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou, Limassol district local government organisation president Yiannis Tsouloftas and Limassol mayor Yiannis Armeftis.

Speakers highlighted the importance of closer cooperation between public authorities and businesses in supporting Limassol’s economic development.

Representatives of the Cyprus Shipping Chamber (CSC) also congratulated Theocharous on her election and thanked the outgoing president for his cooperation. The CSC described Evel as a longstanding partner, noting the chamber’s contribution to Limassol’s business development over more than six decades.

Tsouloftas Reviews Six Years As President

In his final address, Tsouloftas reviewed the chamber’s work between 2020 and 2026, highlighting its advocacy for major infrastructure projects and efforts to address development challenges across the district.

He also outlined initiatives to remove obstacles facing local businesses, accelerate development plans and improve the conditions for economic activity.

Tsouloftas will remain involved as immediate past president, providing continuity during the transition.

New Board Covers Key Business Sectors

The new board includes representatives responsible for the chamber’s main portfolios:

Ilikos Charalambous, vice-president for commerce
Vasos Demetriades, vice-president for industry
Christos Nicolaou, vice-president for services
Nicolas Agiomamitis, vice-president for tourism
Ilias Theodorou, vice-president for finance
Demosthenes Mavrellis, vice-president for innovation and technology
Ilias Neocleous, honorary secretary

Other board members are Minos Agathocleous, Marios Antoniou, George Demetriou, Anastasios Kounoudis, Marios Constantinou, Xanthos Nemptsas, Antonis Pappas, Charalambos Pattichis, Chrysis Petousis, Farah Shammas, Andreas Tsouloftas and Kyriacos Hadjiathanasiou.

Costas Ioannides, Agathi Katsi, Anna Petraki, Filippos Filis and Tonis Hadjiloucas have been appointed members by distinction. The chamber also highlighted the growing participation of women in business leadership and decision-making.

Chamber Recognises Longstanding Contributions

The annual meeting also recognised businesses and individuals for their contributions, including members who have maintained continuous membership for 50 years.

Tributes were paid to three former contributors to the chamber, Tonis Antoniou, Dimi Mavropoulos and Andreas Laou, in recognition of their service.

Under Theocharous’ leadership, Evel begins its 2026–2029 term with a board covering commerce, industry, services, tourism, finance and innovation. Its priorities include continuing to represent Limassol businesses and advocating for the investment and cooperation needed to support the district’s economic growth.