Hellenic widens Greek spread

THE HELLENIC Bank spread its wings further to the port of Piraeus this week, opening its 20th branch in Greece and following closely the trail of the other main banks in Cyprus, Bank of Cyprus and Laiki.

The Cyprus-based Hellenic Bank increased its presence in Greece with the opening of another branch in the port area of Piraeus on Polytechnic Heroes Avenue on Wednesday. The latest branch is the 20th to open in Greece while the Hellenic Group aims to have another five open by July this year.

Central Bank Governor, Christodoulos Christodoulou, opened the bank in the presence of Piraeus mayor Christos Agrapides and the Bishop of Piraeus Kallinikos.

Christodoulou referred to the historical, commercial, and financial relationship between Greece and Cyprus. He said that that new challenges faced Cyprus with EU accession and the opening of a larger European market, adding that it could learn from Greece’s experience.
He highlighted the important role played by Hellenic Bank in the economic and social development of Cyprus.

Executive Chairman of the Hellenic Bank, Panos Galanos referred to the dynamic extension of the Hellenic Group in Greece and its future ambitions to have a geographic presence in the country. The new branch is located in the naval heart of Athens, in Piraeus, a powerful commercial and financial centre, he added.

Galanos stated that the Cypriot owned public company’s assets in Greece reached €812m at the end of 2003, counting for 19 per cent of total assets.

Hellenic bank started out in 1976. It now employs over 1,700 staff, has over 80 stores in Cyprus and total assets worth €4.3b. Its venture into Greece started five years ago. It has Representative Offices in the UK, Ssouth Africa and Russia.

The Bank hopes for a strong presence in Greece, focusing on its consumer-centric approach. Hellenic card users have access to 5,000 ATMs throughout Greece.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.