Hellenic Bank’s acquisition of CNP to boost and diversify revenue, Fitch says

The acquisition of CNP’s insurance operations in Cyprus and Greece is expected to lead to increased and more varied revenue streams for Hellenic Bank, according to a report released this week by international rating agency Fitch.

Hellenic Bank has entered into exclusive negotiations and has signed a put option agreement with CNP Assurances for the acquisition of its subsidiary, CNP Cyprus Insurance Holdings Limited, which operates in Cyprus and Greece, for a price of €182 million.

In its report...