The management plans to expand the activities of the Cooperative Bank outside Epirus, with the CEO, Ioannis Vougioukas, focusing on the significant reduction of "non-performing loans" to 31%, from 75% (2023), which was achieved without the sale of the portfolio and inclusion in the "Hercules" program.

The annual results showed a 14.48% increase in profit before provisions (PBR) and a 70.38% increase in net profit. It is worth mentioning that Epirus is a hybrid cooperative bank: on the one hand, TEA-EAPAE, as a strategic investor, has held about 40% of the capital since 2015, essentially rescuing the bank, and on the other hand, the voting rights of the shareholders are proportional to the number of their units, as in a joint stock company.

The interesting thing about the Cooperative Bank of Epirus is that a strong business player (a Greek from abroad) is very close to a strategic entry, with €30 million in capital in the m.k., a development that, if and when confirmed, could unlock up to the prospect of obtaining a nationwide license.

A special mention, by the Governor of the BoG himself, has been made of the Cooperative Bank of Karditsa, which not only emerged unscathed from the long-term crisis, but also their performance to date remains upward, recording, at the same time, continuous profitable operations and also a generous dividend policy to unitholders. With Panagiotis Tournavitis as CEO, it recorded (2023) an operating profit of €5.56m (28.4%), assets of €243.5m (17.4%), and the NPLs ratio decreased to 9.94% (from 14.03% in 2022). 

With an increase in deposits of over €208m (from €178.2m/2022), the Karditsa Cooperative has built a relationship of trust with the local community; moreover, over the last two years, the number of members and cooperative shares has increased by 15%, while the Belgian fund Helenos has entered its share capital. It is the first private equity fund in the inclusive finance category in Europe, supporting the development of small and medium-sized financial institutions that finance small and medium-sized enterprises and have a social character. Its management is implementing a program to expand its network with the opening of new branches (Tuesday, 8 October, it opened in Larissa).

With the Chania and Thessaly branches, the... frame of cooperatives that have stayed within reach, even for the former interest, was expressed by the Czech Wenger Capital Sicav (for 20%), and the latter to show an increase in all quality indicators.