Hellenic Bank
| File:Hellenic Bank.gif | |
| Company type | Public |
|---|---|
| Industry | Finance |
| Founded | 1976 |
| Headquarters | Nicosia, Cyprus |
Area served | Cyprus, Greece and UK |
| Products | Banking |
| Website | http://www.hellenicbank.com/ |
Hellenic Bank (CSE: HB ), is the third largest bank on the island of Cyprus with a 10.47% share of deposits and 7.92% of the loans market. Its shares are listed on the Cyprus Stock Exchange.
It was founded in 1976 and in 1996 it bought the local operations of Barclays Bank. A major shareholder (29%) is the Cypriot Orthodox Church.[1] The Church of Cyprus increased its stake in Hellenic Bank through big block trading passed through the Cyprus Stock Exchange on October 10, 2007. Specifically, Athena Cyprus Investments, which was successfully acquired by Hellenic Bank earlier in the year sold 2.8 mln shares of HB at EUR 5.40 amounting to EUR 15.3 mln.
The enlarged Hellenic Bank Group now employs over 1,700 employees. It's first subsidiary, Hellenic Bank (Finance) Ltd, offers short-term asset finance in the form of hire purchase and leasing facilities.
Hellenic Bank (Investments) Ltd provides investment services in the Cyprus Capital Market to institutional investors, corporations and private clients. The company provides Cyprus Stock Exchange [CSE] investment services, portfolio management services, company listings, underwriting and strategic development services, as well as international capital market investment services. HBI eTrade offers customers the option to trade on the CSE through the internet. Furthermore, the Research and Analysis Unit prepares daily and weekly stock market performance reviews and technical reports of public companies listed on the CSE.
Hellenic Bank (Investments) Ltd also manages the 'Athena' Cyprus Investment Fund Ltd, a public company listed on the Cyprus Stock Exchange.
Hellenic Bank Trust and Finance Corporation Ltd, provides special services for custodianship and acts as trustee for a number of insurance companies.
The Hellenic Bank Group dynamically expanded its operations in the insurance sector, with the acquisition of the Pancyprian and Ledra Insurance Companies. Hellenic Bank and Alico AIG Life have commenced the provision of insurance banking services (Bancassurance) through Hellenic Bank's branch network in Cyprus, with the establishment of the Hellenic Alico Life Insurance Company Ltd. With a 72.5% and 27.5% share capital in the new company respectively, the agreement is considered innovative by Cyprus standards, and constitutes the first initiative for the provision of insurance banking products through a Banking Organisation.
Hellenic Bank (Factors) Ltd, which commenced operations in 1999, offers a full spectrum of debt collection and total sales management services. By participating in the International Factors Group, it additionally serves customers engaged in international trade. Hellenic Bank offers "Hellenic Net Banking." In addition, the Hellenic Bank offers a range of credit/debit cards catering for any needs, as well as Automated Teller Machines (ATMs). The ATM network has expanded to cover all branches in Cyprus, 24 hours a day.
Hellenic Bank introduced for the first time in Cyprus, the innovative Platinum Mastercard card. This is aimed at high income customers and professionals and includes a broad spectrum of luxury and comfort services and benefits, in both Cyprus and abroad. The has over 80 branches in Cyprus and an estimated 25 branches in Greece (by 2005), provide comprehensive banking services including insurance and investments.
Hellenic Bank, after firmly establishing its presence in Cyprus and Greece, now operates Representative Offices in South Africa and Russia.
The purpose of establishing Representative Offices abroad, is to offer Cypriots living abroad and foreign nationals a connection with operations in Cyprus and Greece, as well as to provide information on the products and services offered by the Bank. Additionally, they provide information regarding the Cyprus and the Greek banking systems, and offer advice on investment opportunities in both countries.
External links
Hellenic Bank group Hellenic Bank (Greece)
References
- ^ "Church of Cyprus Increases Stake in Bank". Yahoo! Finance. Associated Press. Feb 1, 2007. Retrieved 2007-02-02.
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