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Chania Cooperative Bank agrees with strategic partner

Chania Cooperative Bank agrees with strategic partner

Chania Cooperative Bank agrees with strategic partner

Chania Cooperative Bank on Tuesday said it has reached an initial agreement with a domestic institutional investor to cover around 50 pct of the capital needed to raise the bank's capital adequacy rate in the framework of a recapitalization process of the bank.  

Chania Cooperative Bank said the participation of the institutinal investor will have a long-term horizon while the bank's partners will have to secure the capital needed to ensure the bank's satisfactory capital base. The institutional investor will have a participation in the bank's board and will play the role of strategic partner.

 

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