The Cooperative Bank of Chania is making steady progress in implementing its strategic transformation and growth plan, having appointed PwC to provide advisory support and coordinate the process of attracting a strategic investor as part of its planned share capital increase.

Investor interest is significant, with several investment institutions from Greece and abroad participating in the process of exploring potential investment opportunities in the Bank.

Under the current timetable, non-binding offers are expected to be submitted by the end of November, while interested parties may contact PwC directly. No restrictions have been imposed on the ultimate size of their shareholding.

The proposals will subsequently be evaluated with the advisory support of PwC, taking into account the financial strength of prospective investors, their strategic approach and their ability to make a meaningful contribution to the Bank’s long-term growth. The selection of the strategic investor and the terms of their participation will be determined through this process.

Strategic Planning and Capital Strengthening

Attracting a strategic investor is a key pillar of the Bank’s broader transformation plan, which encompasses strengthening its capital position, further improving the quality of its balance sheet and creating the conditions for robust lending growth.

In this context, a share capital increase is being planned, with its final size to be determined in light of progress on parallel initiatives involving asset realisation and the management of non-performing exposures.

Prioritising Growth and Financing for Small and Medium-sized Enterprises

Having obtained a nationwide banking licence, Cooperative Bank of Chania is also moving forward with plans to convert into a public limited company, laying the foundations for its next phase of growth.

The Chairman of the Board of Directors of Cooperative Bank of Chania, Mr Michalis Marakakis, stated:

“Our aim is to attract investors and partners who believe in the capabilities and prospects of Cooperative Bank of Chania. We aspire to build a modern, financially strong bank with a nationwide presence, dynamic growth and a meaningful role in financing small and medium-sized enterprises and the real economy.”

A Strong Foundation for the Future

With the advisory support of PwC and the implementation of its strategic initiatives, Cooperative Bank of Chania aims to create the right conditions for the entry of a strategic investor, strengthen its capital base and accelerate its operational transformation.

Cooperative Bank of Chania remains firmly committed to building a modern banking institution with strong growth prospects, responsible management and an enduring commitment to supporting Greek businesses.