The Cyprus Stock Exchange (CSE) on Monday released a statement formally welcoming Eurobank Group’s intention to pursue a dual listing of its shares on the CSE.

The CSE described the move as a sign of trust in both the Cypriot economy and the island’s capital markets.

“We at the Cyprus Stock Exchange (CSE) welcome the Eurobank Group’s intention for a dual listing of its shares on the Cyprus Stock Exchange, as announced by the group on Friday, June 27, 2025, at the Athens Stock Exchange, where its titles are currently primarily listed,” said CSE council chairman Marinos Christodoulides.

“This declaration of intent by Eurobank demonstrates the high level of trust that the Eurobank Group has in the Cyprus Stock Exchange, as well as in the Cypriot economy,” he added.

The announcement follows the successful completion of Eurobank’s acquisition of Hellenic Bank, in what the bank described as the largest foreign investment ever implemented in Cyprus.

Eurobank officially acquired all remaining Hellenic Bank shares on June 10, 2025, paying €4.843 per share in cash, following the approval by the Cyprus Securities and Exchange Commission on May 8 and the transfer of over 8.27 million shares.

With full control of Hellenic Bank, Eurobank exercised its squeeze-out rights and now intends to consolidate Hellenic Bank with Eurobank Cyprus, after which the entity will be renamed Eurobank Limited, pending final supervisory approvals.

The planned dual listing was announced ahead of the delisting of Hellenic Bank’s shares from the CSE, scheduled for June 30, 2025.

In its June 27 announcement, Eurobank stated that it is evaluating the listing of its shares in Cyprus to reaffirm its “strategic commitment to the Cypriot economy” and to support the “development and strengthening of the local capital market”.

The bank emphasised that the final decision is still subject to the necessary corporate approvals.

If approved, the listing is expected to take place following the admission of Eurobank’s shares to trading on the Athens Stock Exchange through the merger by absorption of Eurobank Holdings, which is anticipated in the final quarter of 2025.

Eurobank also explained that the listing forms part of its long-term strategic plan to consolidate its regional presence and deepen its role in Cyprus, while promoting greater integration between the Greek and Cypriot markets “in an environment of enhanced geoeconomic convergence”.

The chairman of the CSE explained that “the stock exchange looks forward to the completion of the required procedures under the legislation, as described in Eurobank’s statement, so that this intention can move forward to completion as soon as possible”.

“We believe this development will add increased value and future prospects to the Cyprus Stock Exchange,” he added.

Meanwhile, a similar statement was released by the Cyprus Chamber of Commerce and Industry (Keve) last week.

“The Cyprus Chamber of Commerce and Industry, as an institutional body and the organisation from which the stock market institution in Cyprus was initiated, warmly welcomes Eurobank’s intention to list its shares on the Cyprus Stock Exchange (CSE),” Keve said.

“This development represents a vote of confidence in the Cypriot capital market and marks the beginning of a new phase of growth and deepening of the institution,” it added.

Keve concluded by stating that it will “continue to support initiatives that enhance transparency, trust, and participation in the domestic capital market”.