The Commission for the Protection of Competition (CPC) has approved the merger resulting from Hellenic Bank's acquisition of CNP Cyprus Insurance Holdings Limited, according to an announcement by the bank.

In a statement released via the Cyprus Stock Exchange, Hellenic Bank Public Company Limited referred to its previous announcement dated July 10, 2024, regarding its agreement with CNP Assurances to acquire CNP Cyprus Insurance Holdings Limited.

The CPC’s approval was granted during a meeting held on November 27, 2024.

The transaction remains subject to additional regulatory approvals and is expected to be completed by the end of the first quarter of 2025, the bank stated.