ECONOMY

Hania Cooperative Bank reaches deal with investor

hania-cooperative-bank-reaches-deal-with-investor

Cooperative Bank of Hania LLC announced it has reached a preliminary agreement with a domestic institutional investor who will invest 9 million euros in the Cretan lender’s ongoing 23-million-euro share capital increase.

An increase of at least 18.2 million euros needs to be reached by the end of the week for the bank to satisfy the minimum capital adequacy ratio of 8 percent.