ATE Bank to increase Mindbank's share capital

The Agricultural Bank of Greece, ATE Bank, intends to start operations soon to increase Mindbank’s share capital, reorganise the bank, implement a state-of-the-art IT system and rapidly expand its branch network, aiming to triple its market share within the next three years, announced the Greek bank in Athens. ATE Bank has just completed a transaction by means of which it took over 55.82% of Mindbank’s shares from 335 shareholders, after being granted the necessary licences to do so from the central banks in Greece and Romania. According to the Greek bank, another 26 shareholders who own 0.76% in Mindbank’s capital have signed the contract for the sale of shares to the Greek bank and are to be paid the price agreed upon. As a result, ATE Bank’s stake will grow to 57%. ATE Bank is the seventh Greek bank to have entered the Romanian market, helping consolidate the presence of Greek capital.