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Hellenic Bank’s Transformative Year: A Look at 2024 Achievements and Future Plans

by News Editor

February 27, 2025

In a remarkable financial year, Hellenic Bank (HB) announced a landmark €383 million profit for 2024, highlighting a pivotal transformation in its operations and ownership structure. Michalis Louis, CEO of Hellenic Bank, emphasized the year’s significance, pointing to robust financial performance and strategic growth.

With its integration into the Eurobank Group, HB is on track to become one of Cyprus’s leading financial powerhouses. The merger will strengthen its position, creating a formidable banking entity. Further bolstering its market influence, Hellenic Bank is set to finalize the acquisition of CNP Cyprus Insurance Holdings, solidifying its status as a top insurance provider in the region.

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The bank reported a CET1 ratio of 28.7% and a Total Capital ratio of 32.2%, far surpassing the regulatory minimums. Its de-risked balance sheet is noteworthy, with a non-performing exposure ratio of 2.4% and coverage of 63%. These metrics reflect a strategic focus on stability and growth.

Hellenic Bank’s financial achievements are underscored by a 10% year-over-year net profit increase and a 23% return on tangible equity. With €1.1 billion in new lending, the bank remains committed to propelling the domestic economy forward. The liquidity coverage ratio of 519% indicates strong fiscal health and readiness for future expansion.

Looking ahead, Eurobank Group’s anticipated complete acquisition of HB will cement the bank’s influence in the sector. Michalis Louis expressed optimism about the upcoming merger with Eurobank Cyprus, seeing it as a strategic alignment to enhance customer services and product offerings.

As Hellenic Bank grows, it remains dedicated to supporting the Cypriot economy, fostering economic growth, and ensuring a sustainable banking system. This commitment extends to the impending acquisition of CNP Cyprus Insurance, expected to conclude in early 2025.

In other notable figures, the 2024 financials reveal a 12% rise in net interest income to €599 million, alongside a solid cost-to-income ratio of 40%. Additionally, ample liquidity is demonstrated by the maintenance of €5.6 billion in the European Central Bank and a 36.6% net loans to deposits ratio.

Anchored by Eurobank Group’s extensive assets, Hellenic Bank is poised for continued growth, aiming to deliver unparalleled customer experiences in Cyprus.

For more on regional economic improvements, read about the New Tax Era in Cyprus and its implications.

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Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

by THEFUTURE.TEAM

August 15, 2025

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

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Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.