Hellenic Bank staff to strike 31 May

Cyprus’ banking system is facing disruption after Hellenic bank staff announced they would stage a 24-hour warning strike next week over redundancies. The strike, scheduled for 31 May by the banking employees

Banking sector faces industrial action

The banking sector is in choppy waters after employees backed their union to strike over Hellenic Bank’s intention to make 350 staff redundant, while Bank of Cyprus is also cutting branches. The

Hellenic Bank to make 350 staff redundant

Hellenic Bank, Cyprus’ second-largest commercial bank, is reducing its staff by some 300-350 people to bring down operating costs. According to news site Stockwatch, Hellenic’s CEO Oliver Gatzke has sent letters to

Ex-Hellenic chair joins RCB Cyprus board

Irena Georgiadou, the former chairperson of Hellenic Bank, has joined the board of RCB Bank, following changes at the Limassol-based bank, including the announcement last week of its shareholding restructure. Georgiadou, 46,

Eurobank acquires 12.6% of Hellenic Bank

Greece’s Eurobank Ergasias announced it had completed the acquisition of 12.6% of Hellenic Bank, Cyprus’ second-largest lender. The Greek bank said it completed the acquisition of a 2.7% stake of Hellenic Bank’s

Hellenic Bank profits halved to €21 mln

Hellenic Bank saw its nine-month after-tax profits halved to €21 mln, from €40 mln in the same period last year, following a flat third quarter. It reported €8.2 mln in after-tax profits