Hellenic Bank

Hellenic Bank Public Company
*(Ελληνική Τράπεζα)*

Native name	Ελληνική Τράπεζα Δημόσια Εταιρεία Λτδ
Type	Public limited company
Traded as	CSE: HB
Industry	Banking, Financial services
Founded	1976
Headquarters	Nicosia, Cyprus
Number of locations	57 branches (Q4 2015)
Area served	Cyprus
Key people	Bert Pijls (CEO), Irena Georgiadou (Chairwoman)
Products	Credit cards, mortgage loans, consumer banking and business banking, corporate banking, factoring, insurance, private banking, wealth management, asset management, brokerage, investment banking.
Revenue	€256 million (Q4 2015)
Operating income	€104 million (Q4 2015)
Profit	€12.1 million (Q4 2015)
Total assets	€7.4 billion (Q4 2015)
Total equity	€640 million (Q4 2015) Common equity Tier 1: 13.5% (fully loaded Basel III)
Number of employees	1519 (1 Feb 2016)
Subsidiaries	Pancyprian Insurance, Hellenic Alico Life, Hellenic Bank (Investments) Ltd
Website	www.hellenicbank.com

Hellenic Bank Public Company Ltd (Greek: Ελληνική Τράπεζα Δημόσια Εταιρία Λτδ) (CSE: HB), is the second largest bank on the island of Cyprus with a 13.5% share of deposits (6.1 billion Euro) and 7% of the loans market (3.1 billion Euro) as of December 2015. By market capitalisation of 210 Million Euro as at 4 May 2016 it is the second largest Cypriot bank. Its shares are listed on the Cyprus Stock Exchange.

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 4.2% making it the sixth largest shareholder after US based CPB FBO Third Point Hellenic Recovery Fund LP holding 26.2%, Belarus owned Wargaming Public Co Ltd 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^[1] The bank also has representative offices in Kiev, St Petersburg, Moscow and South Africa. It has also opened a representative office in Athens, Greece in 2016.

Group Milestones

1976: The Bank begins operations with a branch in Nicosia and 33 employees.
1985: The subsidiary company, Hellenic Bank (Finance) Ltd, is founded, providing asset finance.
1986: The subsidiary company, Hellenic Bank (Investments) Ltd, is founded, providing investment services.
1988: The Telebank service is introduced in Cyprus, enabling an innovative method of electronic information and money management from a personal computer.
1990: The Insurance Services Department is founded, representing a number of insurance companies offering a wide choice of insurance products. The first of its kind International Business Centre is founded in Limassol.
1991: Network of Automatic Teller Machines (ATMs) established, providing a 24-hour service.
1994: The Bank Marketing Association of the USA, a subsidiary organisation of the American Bankers Association, grants three awards to the Group.
1996: The Group dynamically expands its operations by acquiring the onshore facilities of Barclays Bank PLC in Cyprus. Hellenic Bank (Investments) Ltd acts as advisor for the founding and public shares offering of a new public limited company, 'Athena Cyprus Investment Fund Ltd'. The company is established as a closed end approved investment fund. Recognising the ongoing evolution of the internet, the Group takes its first step in the World Wide Web with the launch of its own website.
1997: The Limassol International Business Centre acquires the ISO 9002 international certificate of service quality - the only centre of its kind in Cyprus to do so. Hellenic Bank (Investments) Ltd forms a business alliance with Merrill Lynch International.
1998: Hellenic Bank opens its first branch in Greece in central Athens. Hellenic opens representative offices in Sandton, Johannesburg, South Africa and Moscow.
1999: Acquisition of the Ledra and Pancyprian insurance companies by the Hellenic Bank Group. Creation of the Hellenic Bank (Factors) Ltd subsidiary.
2000: Creation of Hellenic Alico Life Insurance Company Ltd for the provision of bancassurance products, following an agreement between the Hellenic Bank and the American Life Insurance Company (Alico AIG Life-now MetLife Alico). Hellenic Bank opens six new branches in Greece.
2001: Hellenic Bank (Investments) Ltd launches the electronic brokerage service, HBI eTrade. It also enters into an agreement with Bloomberg LP for providing daily market data on the Cyprus Stock Exchange to foreign investors.
2002: Launch of Hellenic Online banking and Customer Service Line.
2003: Adoption of Corporate Governance Code and implementation of the new organizational structure. Integration of the group’s subsidiary insurance companies “Pancyprian Insurance Ltd” and “Ledra Insurance Ltd” under Pancyprian Insurance Ltd. Hellenic Bank Investments Ltd obtains a license from the Cyprus Securities and Exchange Commission to operate as a Cyprus Financial Services Company. Launch of Online banking for Business.
2004: Hellenic Bank opens nine more branches in Greece. Opening of the new Head Office building in Nicosia. Adoption of EFQM (European Foundation for Quality Management). Adoption of the Bank’s promotional campaign slogan: “Evolution is in our nature.”
2007: Hellenic Bank acquires “Athena Cyprus Investment Fund Ltd”, making it a subsidiary company of the Group.
2009: Hellenic Bank opens a representative office in Kiev, Ukraine, and establishes a subsidiary in Moscow.
2010: Hellenic Bank succeeds the European Union Banking Stress Test Exercise. With this exercise, carried out on Bank’s initiative, it is assured that it enjoys a healthy financial position, maintaining its strong capital adequacy even in the worst-case scenarios.
2011: Hellenic Bank operates its first branch in the Russian capital, Moscow, offering full banking operations 11 January 2011.
2013: On 25 March 2013 Hellenic Bank sells 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.
2014 Hellenic Bank sells its Russian operation to concentrate on the key Cyprus market.
2015 Non performing exposures peak at 59% based on the strict European Banking Authority definition with provision coverage at 50%.

References

↑ http://www.themoscowtimes.com/business/article/cypriot-bank-to-enter-russian-market-in-2011/409049.html

External links

Hellenic Bank Group

Members of Euro Banking Association

Austria	Allgemeine Sparkasse Oberosterreich Bank für Tirol und Vorarlberg AG BKS Bank AG Erste Group Bank AG Oberbank AG Oesterreichische Nationalbank Raiffeisen Zentralbank Österreich AG Raiffeisenlandesbank Oberösterreich AG Raiffeisen-Landesbank Tirol AG Steiermärkische Bank und Sparkassen AG

Belgium	Dexia Bank NV KBC Bank NV Bank van De Post

Cyprus	Bank of Cyprus Hellenic Bank

Denmark	Amagerbanken A/S Arbejdernes Landsbank A/S Danske Andelskassers Bank A/S Danske Bank A/S DiBa Bank A/S Djurslands Bank A/S Jyske Bank A/S Nordjyske Bank A/S Nørresundby Bank Østjydsk Bank A/S Ringkøbing Landbobank Roskilde Bank A/S Skjern Bank Spar Nord Bank Sparekassen Sjælland Sydbank A/S Vestfyns Bank A/S Vestjysk Bank

Finland	Aktia Bank PLC Bank of Åland PLC Pohjola Bank PLC S-Bank LTD. Tapiola Bank LTD

France	Banque Michel Inchauspé - BAMI Banque Palatine BNP Paribas SA BPCE BRED Banque Populaire Crédit Agricole SA Crédit Coopératif Crédit du Nord Crédit Mutuel Arkéa Credit Mutuel CIC Banque HSBC France La Banque postale Natixis Société Générale

Germany	Berenberg Bank BHF Bank Bremer Landesbank Commerzbank AG Deutsche Bank AG Deutsche Bundesbank Deutsche Postbank DZ Bank AG Europe Arab Bank Frankfurt Hamburger Sparkasse AG J.P. Morgan Chase Bank AG Landesbank Baden-Württemberg Landesbank Berlin Holding Landesbank Hessen-Thüringen Oldenburgische Landesbank SECB Swiss EURO CLEARING Bank GmbH The Bank of New York Mellon, Frankfurt Branch VTB Bank (Deutschland) AG

Greece	Alpha Bank SA Eurobank Ergasias SA National Bank of Greece SA Piraeus Bank SA

Hungary	Magyar Nemzeti Bank OTP Bank FHB Mortgage Bank Merkantil Bank Kereskedelmi és Hitelbank Magyar Takarékszövetkezeti Bank MKB Bank Porsche Bank Hungaria Kinizsi Bank MagNet Bank Hanwha Bank Budapest Hitel- és Fejlesztési Bank

Ireland	Allied Irish Banks Bank of Ireland

Italy	Banca Agricola Popolare di Ragusa Banca del Fucino Banca del Piemonte Banca delle Marche Banca di Imola Banca Monte dei Paschi di Siena Banca Nazionale del Lavoro Banca Popolare del Lazio Banca Popolare dell'Emilia Romagna Banca Popolare di Milano Banca Popolare di Sondrio Banca Popolare di Vicenza Banca Sella Banca Tercas Banco Popolare Cassa di Risparmio della Provincia di Chieti Cassa di Risparmio di Cesena Cassa di Risparmio di Fermo Cassa di Risparmio di Ferrara Cassa di Risparmio di Loreto Cassa di Risparmio di Ravenna Credito Emiliano Credito Valtellinese ICCREA Banca Intesa Sanpaolo Istituto Centrale delle Banche Popolari Italiane Raiffeisen Landesbank Südtirol – Cassa Centrale Raiffeisen dell'Alto Adige Südtiroler Volksbank – Banca Popolare dell'Alto Adige UBI Banca UniCredit Veneto Banca

Luxembourg	Banque et Caisse d'Épargne de l'État Banque Raiffeisen Banque Internationale à Luxembourg SA KBL European Private Bankers Société Générale Bank & Trust

Netherlands	ABN Amro Bank NV De Nederlandsche Bank ING Bank NV Rabobank Nederland

Poland	Bank BPH SA Narodowy Bank Polski

Portugal	Banco BPI SA Banco Comercial Português Crédito Agrícola Caixa Geral de Depósitos Novo Banco

Slovenia	Banka Slovenije

Spain	Banco Bilbao Vizcaya Argentaria, S.A. Banco Popular Español, S.A. Banco Sabadell, S.A. Bankinter, S.A. Banco Santander, S.A. CaixaBank, S.A. (La Caixa) Catalunya Banc, S.A. (CatalunyaCaixa) Kutxabank, S.A. ABANCA Corporación Bancaria, S.A. (Abanca) Caja Laboral Popular, Cooperativa de Crédito (Caja Laboral) Banco Cooperativo Español, S.A. (Caja Rural) CECABANK, S.A.

Sweden	Skandinaviska Enskilda Banken Svenska Handelsbanken Swedbank AB Nordea Bank AB

United Kingdom	Bank of Tokyo-Mitsubishi UFJ Ltd. Barclays Bank PLC Citibank NA DNB Bank (NOR) HSBC Bank PLC JPMorgan Chase Bank, N.A., London Branch Kookmin Bank International Ltd. Lloyds Bank PLC MashreqBank psc (UAE) Royal Bank of Scotland PLC UBS AG Wells Fargo Bank NA

Non-EU	Bank of China (CHN)

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