Pancretan Bank gets extension

The Pancretan Cooperative Bank has been granted an informal extension, having already secured 70 million euros out of the 100 million required by the adverse scenario of the lender’s stress test.

However, some sources note that the Heraklion-based cooperative will retain its autonomy even if it does not collect all the funds required by the adverse scenario, as the 70 million euros it has collected suffices to cover all the necessary requirements regarding its capital adequacy.

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