ATE Bank increases stake in Mindbank

ATE Bank – Greece’s Agricultural Bank, has increased its interest in Mindbank to 73.3% by acquiring stakes from various shareholders. The ATE Bank management also agreed to contribute a 68.17 million-RON (20.4 million-euro) capital increase for Mindbank. The bank’s capital will therefore increase to 116 million RON (34.7 million euros). Mindbank shareholders approved the appointment of Sergiu Manea, former vice-president of the bank, as general manager, at the end of last month. Dimitros Miliakos, ATE Bank’s Governor was designated as Chairman of the Board of Directors. Alina Pascu and Epameinondas Papanikolaou were also included in the executive management team, on the positions of deputy general managers. Both are also members of the Board of Directors. Alina Pascu was formerly vice-president of UniCredit Romania, in charge of retail operations, and also worked in a similar field at Raiffeisen Bank.