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.
