Developments regarding the Hellenic Bank's relationship with Eurobank, which intends to transfer senior executives to manage the Cypriot bank, are expected to unfold in mid-September during the upcoming General Meeting of shareholders. Eurobank already holds a 55.5% stake in Hellenic Bank.

Eurobank will propose the appointment of new board members at Hellenic Bank's Annual General Meeting of Shareholders, anticipated to take place in mid-September. This move aims to mark its influence and leave a significant imprint on the bank's future.

The Public Offer document issued by Eurobank to Hellenic Bank explicitly states: "Following the completion of the Public Offer, the Offeror intends to exercise its rights as provided by the legal and regulatory framework and propose the replacement of board members." It further clarifies that "no special benefits will be granted to the board members of the company under acquisition." It is worth noting that the Public Offer expires on July 30.

Additionally, Eurobank will further signal its intentions by transferring four senior executives from both Eurobank Cyprus and the broader group to Hellenic Bank. This relocation might also result in changes within the leadership structure of Eurobank Cyprus.

Although Eurobank has made it clear in its public offer that it does not intend to alter the business activities of the company under acquisition, it has indicated potential strategic moves. The document mentions that "the Offeror believes there are opportunities to expand the operations of the company under acquisition in certain areas, such as corporate banking and, by extension, in related sectors like treasury services and transactional banking." Similarly, "there is significant scope for growth in the company's retail banking services, including transactional banking, bancassurance, and investment services."