As announced by the Bank, Wenger Capital Sicav—a Czech-origin investment fund headquartered in Malta—has joined forces with the Chania Cooperative Bank, bringing capital, technical expertise, and international financial experience to strengthen the Bank's strategic position.
During the Annual General Assembly, the Bank’s management emphasized that:
“This strategic alliance is part of Chania Cooperative Bank’s broader effort to strengthen its capital base, expand its financial tools, and enhance its presence in the Greek market—with a continued focus on Crete and support for the local economy.”
The Chairman of the Board of Directors, Mr. Michail Marakakis, stated:
“The participation of international investment capital in our shareholder structure confirms the confidence that global investors place in our vision, stability, and future prospects. This is a long-term, strategic collaboration that will allow us to respond even more effectively to the needs of our members and clients.”
Mr. Karel Hlaváček, Director of Wenger Capital Sicav, added:
“On behalf of Wenger Capital Sicav, I would like to thank Chairman Michail Marakakis for the excellent cooperation. We believe the Chania Cooperative Bank represents a significant investment opportunity, and we are working together with a forward-looking perspective.”
The Annual General Assembly took place at the Cooperative’s headquarters in Chania, where several key decisions were discussed and approved by a broad majority. These include:
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Approval of the 2024 financial statements and annual results
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Increase of the Cooperative’s capital
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Issuance of new cooperative shares, with terms to be determined by the Board of Directors
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Issuance of €10 million in subordinated bonds (simple registered, lower-tier capital instruments)
The Bank’s leadership reaffirmed its commitment to transparency and consistency in protecting the interests of shareholders and the broader community, while also reinforcing the Bank’s developmental role in the modern economic environment.
At the same time, procedures are advancing for securing a nationwide banking license and transitioning the Bank’s legal form into a Société Anonyme (S.A.), with the relevant application being prepared for submission to the Bank of Greece.
