CNP Cyprus

Hellenic Bank Q1 profits up, landmark deals in 2024

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Hellenic Bank Q1 profits up, landmark deals in 2024

Hellenic Bank announced first quarter profits of €93.3 million, up 34% year on year, but 25% below the previous quarter. Net interest income rose to €151 million, up 40% year on year. The bank has reached agreements for the renewal of a labor collective agreement and to strengthen its insurance operations. New lending in the first quarter reached €208 million, with a focus on retail customers. The bank has a liquidity coverage ratio of 580%.

Moody, ’s gives thumbs up to HB’s CNP deal

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Moody, ’s gives thumbs up to HB’s CNP deal

Hellenic Bank’s takeover of CNP Assurances’ regional operations will allow it to dominate the local insurance market, giving it a 30% share of the life insurance market and a 23% share of the general insurance sector.

Moody, ’s welcomes Hellenic Bank acquisition of CNP Cyprus

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Moody, ’s welcomes Hellenic Bank acquisition of CNP Cyprus

– Moody’s has given a positive assessment on Hellenic Bank’s move to acquire CNP Insurance in Cyprus and Greece.
– The acquisition will position Hellenic Bank Group as the leader in the Cypriot insurance market.
– The acquisition price of €182 million is expected to be recovered through retained earnings.
– The agreement is likely to include the 330 CNP employees.
– The potential acquisition will strengthen Hellenic Bank’s activities in the life insurance and general insurance sectors.
– The transaction will enhance the diversification and sustainability of Hellenic’s profitability.
– The combination of insurance activities will result in synergies and create opportunities for product distribution.

HB eyes insurance crown with CNP deal

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HB eyes insurance crown with CNP deal

Fact: Hellenic Bank’s takeover of CNP’s local operations in Cyprus is worth €182 million and will boost its market share to 30% in the life insurance sector and 23% in the general insurance sector.