Our History


The Bank has entered into an agreement to sell a non-performing loan portfolio of predominantly non-retail secured and unsecured exposures to B2Kapital Cyprus Ltd, a wholly owned subsidiary of B2Holding ASA, a Norwegian corporation listed on the Oslo Stock Exchange. The gross outstanding balance of the assets which are being sold pursuant to the Transaction is €145m comprising of 1.158 borrowers and 1.977 facilities (in each case as at September 2017). The transaction was completed on the 6th of June.

2018 was a landmark year for Hellenic Bank. On 3 September, the Bank announced the completion of the acquisition of certain assets and liabilities of the Cyprus Cooperative Bank. The transferred balance sheet comprises of a portfolio of primarily performing loans, Cyprus Government Bonds, cash and customer deposits. Through the acquisition, the Bank achieved a significant improvement in the quality and structure of the Bank's assets and hence in its financial profile, establishing it the leading retail and SME bank in Cyprus.

Group Milestones

  • 1976-1990
  • 1991-2000
  • 2001-2010
  • 2011-2016
  • 2017


Operations begin with a branch in Nicosia and 33 employees. The subsidiary company, Hellenic Bank (Finance) Ltd, is founded, providing asset finance.

The subsidiary company, Hellenic Bank (Investments) Ltd, is founded, providing investment services.The Card Services Department is established and the first Hellenicard Visa is launched.

The Telebank service is introduced for the first time in Cyprus.The Insurance Services Department is founded. The first International Business Centre of its kind in Limassol.


Network of Automatic Teller Machines (ATMs) is established, providing a 24-hour service.

Α new International Business Centre begins operations in Nicosia. Acquisition of the operations of the onshore facilities of Barclays Bank PLC in Cyprus.

The Card Services Department launches the first credit card in association with MasterCard.Hellenic Bank (Investments) Ltd forms a business alliance with Merrill Lynch International.

Our first branch opens in Greece, in the Kolonaki area.Opening of Representative Offices in Sandton, South Africa and Moscow, Russia. Hellenic Bank (Finance) Ltd offers asset finance in the form of leasing facilities. Acquisition of the Ledra and Pancyprian insurance companies by our Bank Group.

Creation of the Hellenic Bank (Factors) Ltd subsidiary. A new insurance company is launched called  Hellenic Alico Life Insurance Company Ltd. Expansion of the Hellenic Bank branch network in Greece continues with the opening of six new branches, including the 1st in Thessaloniki.


Hellenic Alico Life provides bancassurance products through the Bank's branch network across Cyprus. Opening of the Larnaca International Business Centre.

Launch of Hellenic Net Banking. Launch of the Hellenic Bank Customer Service Line. Opening of the Paphos International Business Centre. Hellenic Bank Greece launches operation of new company Hellenic Trust AEPEY. 

Adoption of the Corporate Governance Code. Implementation of the new organizational structure of the Bank. Integration of the group’s subsidiary insurance companies “Pancyprian Insurance Ltd” and “Ledra Insurance Ltd” under Pancyprian Insurance Ltd. Hellenic Bank Investments Ltd obtains a license from the Securities and Exchange Commission to operate as a Cyprus Financial Services Company.

Expansion of the branch network in Greece with nine new branches. Adoption of EFQM (European Foundation for Quality Management). Promotional campaign adopting the Hellenic Bank's slogan: Evolution is in our nature. Design and introduction of the Quality Evolution Program.

Expansion of the branch network in Greece with two new branches. The Ukrainian Central Bank grants approval for the opening of a Representative Office in Kiev. Creation of Representative Office in St. Petersburg, Russia. Public offer made for 100% acquisition of the share capital of Athena Cyprus Investment Fund Ltd.

Expansion of our branch network in Greece continues with two new branches in Patra, the Peloponnese and Chania on the island of Crete. The Representative Office in Kiev, Ukraine commences operations.

The Central Bank of the Russian Federation grants Limited Liability Company Commercial Bank HELLENIC BANK, a fully owned subsidiary of the Group, a banking license for the Moscow region. Our Private Banking Unit was recognized by the Euromoney Magazine as the Best Private Banking Unit in Cyprus. Creation of green loan Eco Autoloan” for the purchase of hybrid/electric cars. Our Net Banking is awarded from the Global Finance magazine as the Best Integrated Consumer Bank Site in Europe. Signature of agreement between Hellenic Bank and European Investment Bank for concession of loans with favorable terms to small and medium-sized enterprises in Cyprus and Greece. Buckets placement in all Hellenic Bank branches in Cyprus, for the collection and recycling of domestic batteries, in collaboration with AFIS CYPRUS LTD.

We successfully passed the European Union Banking Stress Test Exercise. Signed the petition against Climate Change, in order to contribute towards the national targets of Cyprus to safeguard the environmental balance. Our Net Banking for Business has been acclaimed as one the best electronic banks for companies operating in Europe, through the contest of the International Magazine Global Finance. We were awarded the Citi Performance Award of the Citi Bank for our fully automated swift transactions towards Citi Bank.


Operated our 1st branch in Moscow, the Russian capital, offering full banking operations as from the 11th of January 2011.

Opened our 2nd International Business Centre in Nicosia.

Opened the Shipping Business Centre, the first of its kind in Cyprus, dedicated to exclusively serving the shipping business community of the island and capitalising on the Bank's longstanding affiliation with the shipping industry sector. Announced that we are following the bilateral agreement between Cyprus and Greece and as dictated by the Troika, on 26 March 2013 we agreed to sell its branch network in Greece to Piraeus Bank according to the indications of the Ministry of Finance and the Central Bank of Cyprus. Granted the Corporate Social Responsibility Award in Environmental Issues at the 3rd Environmental Awards of Green Dot Cyprus. Secured our autonomous course and played an important role in boosting the Cyprus economy.

Hellenic Bank becomes the first bank to be certified with the environmental quality mark Green Key for our Head Office and Green Offices.

Sale of the Group’s Russian Subsidiary as part of the Group’s continuous efforts for more effective management of available resources, capital planning, active risk management and risk-weighted assets and to focus on key markets.

Our Net Banking Service is awarded, in a competition of the international magazine Global Finance, as The Best Consumer Internet Bank in Cyprus and The Best Corporate/Institutional Internet Bank in Cyprus.

Ranked the Safest Bank in Cyprus for 2014 in a survey of the internationally reputable Global Finance Magazine carried out in more than 100 countries worldwide.

Raised €201m capital through the successful completion of the Subscription and Presubscription phase. The European Bank for Reconstruction and Development (EBRD) enters into an agreement to acquire an equity stake of 5.4% in Hellenic Bank, investing €20 million in newly-issued shares. Hellenic Bank emerges as the Best Bank in Cyprus for 2015, according to the «Global Finance Magazine». The Group is awarded the Best Corporate Governance Award for 2015 by the prestigious Capital Finance International magazine.

In 2016 the European Bank for Reconstruction and Development (EBRD) steps up its support to Cypriot exporters and importers with a €20 million trade facility to Hellenic Bank under the EBRD’s Trade Facilitation Programme (TFP).
A simple, smart and practical banking experience, the Hellenic Bank Mobile App, is made available to Hellenic Bank customers through the App Store and Google Play


In June 2017 we proceeded with the creation of the first debt servicing platform in Cyprus, through the sale of the non-performing loan and real estate management business to APS Cyprus. Through this platform, we will be able to effectively tackle our NPEs in an accelerated way and with higher recoveries, leveraging on the knowhow, proven expertise and technical experience of APS Holding a.s.

Building on the release of six public APIs for developers to use during April 2017, Hellenic Bank has taken a new step towards making Open Banking a real commercial opportunity. Now developers are able to take their products live via the API Developers’ portal and promote them through a Marketplace built into the business web banking channel.