The Co-operative Bank

On July 31, Pancreta Bank absorbed the Greek assets of global banking colossus HSBC, taking in a highly complementary business and, in effect, creating a new bank, far from its 1993 origins as a cooperative bank named Credit Development Cooperative of Heraklion.

In an interview with Kathimerini, CEO Antonis Vartholomeos explains that upcoming mergers will further expand the bank.

The shareholders of Thrivest, which will participate with 30 million euros in the Attica Bank capital increase by acquiring, in this phase, 4.93% of its share capital, aim to create a single bank.

The plan for the acquisition of Praxia Bank by the Pancretan Cooperative Bank has failed. The two lenders had been locked in negotiations since mid-December, but on Friday the Crete-based bank announced that "the due diligence has been completed without the two sides coming to an agreement."

Pancretan Cooperative Bank announced on Tuesday that former Piraeus Bank president and founder Michalis Sallas is entering the share capital of the Iraklio-based lender with the purchase of a 15 percent stake.