After receiving the green light from the Competition Protection Commission on the proposed banking sector consolidation, Eurobank is moving forward with its capital increase in Hellenic Bank. The bank has announced that it is now waiting for approvals from the Central Bank of Cyprus, the European Central Bank, and the Insurance Companies Supervisory Service.

On February 2, 2024, the Competition Protection Commission sanctioned Eurobank's plan to increase its stake in Hellenic Bank's equity. 

Eurobank's acquisition of a 26.1% share in Hellenic Bank, formalized through agreements with Poppy S.à r.l, Senvest Management LLC, and Wargaming Group Limited, along with the Wargaming Executive Directors' and Senior Management Provident Funds on August 23, 25, and 30, 2023, is now pending further approval from key financial regulatory authorities.

Currently, Eurobank holds 29.2% of Hellenic Bank. The completion of these transactions will elevate Eurobank's stake to an influential 55.3%, marking a significant consolidation in the banking sector.