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Invest Cyprus 30/04-30/03/2019
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HB Exceeds 150,000 Transactions Daily After CCB Acquisition

HB Exceeds 150,000 Transactions Daily After CCB Acquisition

Hellenic Bank exceeded 150,000 transactions per day after it officially acquired the operations of the state-owned Cyprus Cooperative Bank (CCB) on September 3.

According to data given to the Cyprus News Agency by Hellenic Bank, the unified banking network serves more than 65,000 clients daily while transactions has exceeded 150,000 on a daily basis.

Hellenic Bank acquired a balance sheet amounting to €10.3 billion with 400,000 CCB clients transferred to Hellenic, rendering the bank the second largest lender and the largest retail bank in Cyprus.

The bank will close 43 CCB branches in October, whereas an additional 100 branches are expected to close in the next 15 months, while two mobile banking which are expected to become operational serving clients in rural communities.

A total of 1,100 employees of the CCB have transferred to Hellenic Bank as part of the deal.

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