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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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Cypriot Government Employment Sees Modest Growth in April

by THEFUTURE.TEAM

May 12, 2025

Total government employment in Cyprus increased by 237 persons, a rise of 0.4 per cent, in April, compared to the same month in 2024, reaching a total of 55,490 employees, according to the state statistical service.

Employment in the civil service and the security forces decreased by 1.2 per cent and 1.1 per cent respectively, while the educational service saw an increase of 3.8 per cent.

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Civil Service and Educational Service Breakdown

In April 2025, the civil service employed 11,960 permanent staff, 4,141 employees with contracts of indefinite duration, 1,458 with contracts of definite duration, and 5,798 hourly paid workers.

Permanent employees represented the highest proportion of the civil service workforce at 51.2 per cent, while employees with contracts of definite duration made up the lowest proportion at 6.2 per cent.

In the educational service, there were 12,461 permanent employees, 947 with contracts of indefinite duration, 4,824 with contracts of definite duration, and 141 hourly paid workers.

Permanent staff formed the majority of the educational workforce at 67.8 per cent, while hourly paid workers accounted for only 0.8 per cent.

Security Forces Breakdown

Within the security forces, 8,430 were permanent employees, 4,304 held contracts of indefinite duration, 267 were on definite-duration contracts, and 759 were hourly paid workers.

Permanent employees again made up the largest group in the security forces at 61.3 per cent, with definite-duration contracts representing just 1.9 per cent.