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Strategic Merger Transforms Cyprus Banking Landscape With the Launch of Eurobank

by THEFUTURE.TEAM

June 26, 2025

New Era In Cyprus Banking

Two of the most influential financial institutions in Cyprus have united in a long-planned strategic merger that combines decades of expertise and a celebrated history. The integration of the Hellenic Bank with Eurobank Cyprus has reshaped the nation’s financial landscape while expanding its influence throughout the region.

Building A Formidable Financial Powerhouse

Rebranded as Eurobank, the newly merged entity is set to become Cyprus’s largest and most robust banking institution. With enhanced capital reserves and an elevated market position, Eurobank is uniquely positioned to act as a gateway for companies looking to invest in emerging markets. This innovative merger melds the established local presence of the Hellenic Bank with the expansive international reach of Eurobank, delivering a comprehensive suite of competitive financial services.

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A Bold Investment In Cyprus’s Future

The Eurobank Group’s groundbreaking €1.3 billion investment in Cyprus demonstrates its strong confidence in the island’s role as a regional financial and investment hub. After extensive research and deliberations, the name Eurobank was chosen to signal a new era of reliability and trust in the market. While the institution’s name, scale, and capabilities evolve, its unwavering commitment to client service, innovation, and security remains intact.

Impressive Financial Foundations

Eurobank’s robust financial metrics underscore its strength. The institution reports €27 billion in total assets—including loans, cash, investments, and real estate—€8.6 billion in loans, and €23 billion in deposits. With a commanding 42% market share in deposits and 36% in loans, the bank has also contributed over €61.5 million in taxes and social contributions in 2024 while employing more than 3,000 people, underscoring its vital economic role.

A Seamless Transition For Clients

The integration process is progressing in well-defined stages, with full legal unification scheduled for early July. Throughout this transition, ensuring uninterrupted support for clients remains a top priority. Essential banking credentials, such as account numbers, IBANs, card PINs, and online banking details, will remain unchanged. Combined branch operations will eventually offer enhanced convenience, while current in-branch services continue without disruption.

Looking Ahead: Resilience And Innovation

The creation of Cyprus’s most powerful bank marks a significant milestone that blends local expertise with international know-how. Eurobank is set to provide an enriched banking experience—featuring an expansive branch network, innovative banking solutions, and enhanced digital capabilities—geared toward meeting the evolving needs of businesses and households in an ever-changing economic landscape.

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Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

by THEFUTURE.TEAM

September 12, 2025

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

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Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.