Candia bank to be listed on stock exchange

The listing of Candia bank, the new bank that will be created after the merger with the Bank of Chania, on the Athens Stock Exchange, the increase of its share capital by 100 million euros and the absorption of HSBC operations in Greece, was announced by its strategic investor, President of Lyktos Group Mr. Michalis Sallas.

Speaking at an event organized by the bank last weekend in Crete, he stressed, among other things, that at a time when the banking system is shrinking in the wake of a decade-long financial crisis, his group is investing.

According to Mr. Sallas, the new bank, Candia Bank, will be properly capitalized after the increase of 100 million euros that will be implemented, with 110,000 shareholders after the merger with the Cooperative Bank of Chania, with human resources that have strong know-how after the absorption of HSBC operations in Greece and with network of 100 branches.

The new Group, according to Mr. Sallas will target small and medium business that want to grow, export, and innovate, while also announcing its listing on ATHEX in a year.