Economy · Cyprus
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The public offering of shares for the establishment of the Pancyprian Cooperative Bank is set to begin on July 22, 2026, and will continue until November 17, 2026. The initiative aims to raise €42 million through the issuance of up to 42 million shares, which have a nominal value of €1 each. The plan has received approval from the Cyprus Securities and Exchange Commission.
The inaugural ceremony for the public offering took place on July 10, 2026, marking a significant milestone in the re-establishment of a cooperative banking institution in Cyprus. This event was held at the headquarters of the teachers union, Poed, in Nicosia, where the official launch of the capital raising process occurred. The establishment of the new cooperative bank aims to revive the cooperative banking sector in Cyprus, which has undergone significant changes in recent years.
Panikos Hampa, the chairman of the cooperative company promoting the initiative, expressed optimism about the future of the new cooperative bank. The public offering is positioned as a crucial step towards realizing the vision of a renewed cooperative banking system in the country.
13 July
Details emerge on who can buy shares in the new cooperative bank, facing potential capital and licensing risks.
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