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Hellenic Bank acquires remaining 27.5% stake in Hellenic Alico Life

Hellenic Bank PCL acquired the remaining 27.5% stake in its Hellenic Alico Life Insurance Co. Ltd. subsidiary from Metlife Services Cyprus Ltd.

The Cyprus-based bank now owns 100% of the share capital of Hellenic Alico Life.

The consideration for the sale, announced in October, is €5.9 million, payable in cash. The transaction is not expected to have a material impact on the bank's capital ratios or its financial position.