Nicosia, Cyprus. Eurobank set out its strategy for the evolving banking environment in Cyprus at the 13th Banking, Payments and Fintech Forum and Expo in Nicosia earlier this week. The bank said it focused on digital transformation, consolidation and international expansion.
Focus on a changing banking landscape
Eurobank said the event focused on a new banking landscape shaped by accelerated digitalisation, enhanced customer experience and wider sector developments. The bank said it participated with a strong and upgraded presence.
Merger described as milestone and major investment
Speaking at the forum, Chief Executive Officer Michalis Louis said the creation of Eurobank through the acquisition and merger of Hellenic Bank with Eurobank Cyprus “represents a milestone not only for the banking sector but for the Cypriot economy as a whole”.
He said it is the largest investment ever made in Cyprus, amounting to approximately €1.3 billion in cash, confirming the Eurobank Group’s confidence in Cyprus’ long-term prospects and creating one of the largest and strongest financial organisations on the island.
Integration priorities and customer service
Louis said the investment comes with a strong sense of responsibility, with priority placed on the smooth and effective integration of banking operations and the group’s four insurance companies. He said the objective is uninterrupted, immediate and high-quality customer service.
Consolidation expected to continue into 2026
Louis said the consolidation of the banking system in Cyprus aligns with the directions of the European Central Bank and is expected to continue into 2026 due to rising regulatory and supervisory requirements.
Geopolitical uncertainty and investment framework
Louis said geopolitical uncertainty presents both challenges and opportunities for Cyprus, which he described as emerging as an attractive destination for businesses and investors seeking a stable financial and institutional environment. He said a stable and predictable regulatory and tax framework is critical for attracting quality foreign investment.
What do you think will be the biggest factor shaping Cyprus’ banking sector through 2026?
