Hellenic Bank Public Company Ltd (Greek: Ελληνική ΤÏάπεζα Î"ημόσια ΕταιÏία Λτδ) (CSE: HB) is in Cyprus.
The bank was founded in 1976 with technical assistance from Bank of America and in 1996 it bought the local operations of Barclays Bank. A major shareholder (29%) was traditionally and for many years, the Church of Cyprus. Between November 2013 and December 2014, the Church's shareholding shrank to 3.9% making it the sixth largest shareholder after US based CPB FBO Third Point Hellenic Recovery Fund LP holding 26.2%, Belarus owned video game company Wargaming Group Limited holding 24.9%, Cyprus based Demetra Investments Public Ltd holding 10%, the European Bank for Reconstruction and Development holding 5.4% and Canadian based Senvest International LLC/ Senvest Masterfund LP holding 5%. The board is composed of representatives of the top two shareholders.
In January 2011, Hellenic Bank started operating in Russia but later, in 2014, sold the Russian operation The bank also has representative offices in Kiev, St Petersburg, Moscow and South Africa. It is also opening a representative office in Athens, Greece in 2017.
On 25 March 2013 Hellenic Bank sold its Greek branches to Piraeus Bank. As of 27 March 2013, former Hellenic Bank customers could use the ATMs of all Piraeus Bank Group banks (Piraeus Bank & ATEbank, Geniki Bank and former Bank of Cyprus and CPB Bank networks) free of charge. The process of merging the operations of the former Hellenic Bank network in Greece into Piraeus Bank was completed in mid-July 2013. This was followed by the closure of the vast majority of the former Hellenic Bank branches and the dismissal of its personnel.
In 2015 EBRD acquired a 5.4% share in Hellenic Bank.
In 2016, Hellenic Bank received a Global Finance Magazine award for the third consecutive year as the Best Digital Bank in Cyprus and was upgraded to B rating by Fitch.
In July 2017, Hellenic Bank sold 51% of its Arrears Management Division (2.3bn Euro in Non Performing Exposures and 150mn Euro in property), including its Debt Recovery Unit and Property Management Unit to Czech specialised firm APS Holdings a.s and created a new company in which it is a minority 49% shareholder: APS Debt Servicing Cyprus Ltd. 129 Hellenic Bank employees will move to the new company.
References
External links
- Hellenic Bank Group
