Pancretan Bank in talks to merge with Central Macedonia Bank

Greek lender Pancretan Bank said on Thursday it had signed a memorandum of understanding (MoU) with cooperative Bank of Central Macedonia to explore the possibility of a merger.

Pancretan, based on the island of Crete, has a network of 54 branches, mostly in Crete, plus a small presence in Athens and Thessaloniki. It said the merger talks will focus on Pancretan acquiring the Bank of Central Macedonia.

“The two parties will come to a negotiation and exert every effort to reach a binding agreement by Jan 31, 2023,” Pancretan said. 

[Reuters]