Thrivest enters Pancreta Bank

Thrivest Holding, which belongs to Dimitris Bakos, Yiannis Kaimenakis and Alexandros Exarchou, invested 65 million euros and acquired all of the unallocated new shares of Pancreta Bank from the first round of its share capital increase to become its largest shareholder with a 32.38% stake. At the same time, sources close to the three businessmen note that the investment interest they have expressed in the former Cooperative Bank of Serres and now of Central Macedonia has not waned.

With the participation of Thrivest, the total amount raised by Pancreta comes to €98.7 million, meaning it now has the funds required to implement its business plan. The former cooperative bank, now an anonymous company, has acquired the Bank of Chania, while discussions are ongoing for the acquisition of HSBC’s Greek activities.

Senior Bank of Greece sources, who closely followed the whole process and positively evaluated Thrivest’s initiative, tell Kathimerini they are particularly satisfied with the development, noting the new roads opening for Pancreta and for the Greek banking system in general, as in conjunction with the upcoming developments at the Bank of Central Macedonia, a new pole is being formed, capable of strengthening competition in the Greek market.

Sources with knowledge of what preceded the move explain to Kathimerini that “the prospect of their entry into Pancreta also came to the attention” of Bakos, Kaimenakis and Exarchou shortly after they expressed an interest in the Bank of Central Macedonia. “Moving quickly and methodically, they secured and gained control of the bank,” the same sources say.

Earlier this year the three businessmen also acquired 31.7% of listed construction company Intrakat (where on Monday they launched a capital increase of €100 million), while they control energy company Volton too; they now form a group with activities spanning from shipping, construction, property and concessions to tourism, renewables and banking.

They state that their investment in Pancreta, completed in under two months, reflects their confidence “in the prospects of the bank to claim an important role in the new banking environment with the aim of supporting the Greek business community, in Crete and the whole of Greece.”