Cooperative Bank of Chania

What Cooperative Bank of Chania does

Cooperative Bank of Chania (Συνεταιριστική Τράπεζα Χανίων, "ChaniaBank") is a Greek cooperative bank founded in 1995 in Chania, Crete, operating under Greek Law 2515/97 and regulated by the Bank of Greece. It runs 21 branches — concentrated across Crete (Chania, Rethymno, Iraklio, Ierapetra, Agios Nikolaos) and expanded into the Attica region (Athens, Peristeri, Agia Paraskevi, Kalithea, Pagrati, Marousi, Glifada) — alongside an award-winning mobile banking application, a web-based eBanking platform, PSD2-compliant APIs (Developer Portal and production APIs launched March/May 2019), and integrations to Greek (DIAS, IRIS Payments, IRIS Commerce, IRIS POS Pay) and European (SEPA Instant Payments, 3D Secure) payment infrastructures. It owns two wholly-owned subsidiaries — Kritika Akinit A.E. (real estate in Crete) and Kritikes Simmetohes S.A. — used for venture and renewable-energy investments.

The bank serves retail individuals and small/medium enterprises with deposit products (Premium Time Deposits offering up to 3.10% on ≥€250,000, tiered savings, payroll/pension, online time deposits), an array of loan products (consumer, mortgage, student, energy-efficiency subsidized programs such as Exoikonomo and "Spiti Mou II", business working capital, open revolving credit, commercial mortgages, fixed-asset financing), card services (Visa debit, credit cards with chip and 3D Secure), insurance distribution (vehicle, property, health, life/borrower, and cyber insurance), and government/EU development programs (TEPIX II/III, EIF InvestEU, EaSI, EGF). Revenue is generated primarily through interest income on lending, deposit intermediation, transaction and service fees, card interchange and POS services, insurance commissions, and investment/advisory services.

Operationally, the bank is structured as a cooperative of limited liability with over 20,000 members/shareholders; it has executed cooperative capital increases in 2007 (€15M), 2015 (€12.5M), 2018, and 2023, and reduced its Emergency Liquidity Assistance dependency from €83M in June 2017 to zero by March 2019. The General Assembly in July 2023 approved conversion into a Société Anonyme, and a memorandum of understanding with Pancretan Bank (October 2021) for a merger of the two largest Cretan cooperative banks was ratified at 98.39% in May 2022, pending regulatory approvals. Distribution relies on the branch-led model supplemented by digital self-service channels and ATM coverage, with CSR programs (Digital School, Green School) and FEBEA ethical-banking membership reinforcing community positioning.

Name

Cooperative Bank of Chania

Legal name

Συνεταιριστική Τράπεζα Χανίων Συνεταιρισμός Περιορισμένης Ευθύνης

Website

https://chaniabank.gr

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

Cooperative Bank of Chania is a Greek cooperative bank founded in 1995, operating 21 branches across Crete and Attica to serve retail individuals, SMEs, and agricultural customers with deposits, loans, cards, insurance, and digital banking under the ChaniaBank brand.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (522110), Credit Unions (522130)

SIC

State Commercial Banks (6022), National Commercial Banks (6021)

akta.pro primary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

akta.pro secondary industries

SBA/Government-Backed & Development Finance Loans (FSAKAGAI), Community Development Credit Unions (CDCUs) (FSABAEAC)

Keywords

• Retail banking services
• Cooperative banking
• Consumer lending
• Business banking
• Digital payment services

Headquarters

HQ city

Chaniá

HQ country

Greece

HQ region

Europe

Offices23 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Traditional banking interest revenue from consumer loans, mortgages, business loans, and credit facilities to retail and corporate customers. The bank offers personal/consumer loans, student loans, housing loans, and business financing products.
2. Deposit Interest: Interest paid to depositors on savings accounts, time deposits, and current accounts. Premium time deposits offered for amounts starting from 250,000 EUR with rates up to 3.10%.
3. Transaction and Service Fees: Fees from banking transactions including payments, transfers, standing orders, foreign exchange, safe deposit boxes, and interbank collections.
4. Card Services: Revenue from debit and credit card transactions, processing, and related services including merchant POS services.
5. Insurance Products: Commission income from insurance products offered including vehicle, property, life/health, business insurance, and credit life insurance.
6. Investment Services: Financial advisory and investment product distribution services for customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

The Cooperative Bank of Chania is a Greek cooperative bank that provides retail and commercial banking services through a network of 21 branches in Crete and Attica and digital channels including an eBanking platform and award-winning mobile app. Its offerings span deposit accounts (savings, checking, time deposits), consumer and mortgage loans, business financing, debit/credit cards, payment services (IRIS, SEPA instant, 3D Secure), insurance distribution, and trade finance. It also participates in EU/Hellenic development programs (TEPIX, InvestEU, EIF guarantees) to channel subsidized financing to SMEs and the agricultural sector.

Product overview

Cooperative Bank of Chania offers a comprehensive banking platform with both traditional branch-based services and digital banking channels. The core digital offering includes the ChaniaBank Mobile App (award-winning, recognized at Mobile Excellence Awards 2022 and Ermis Awards) and eBanking platform. Payment services encompass IRIS Payments (instant transfers), IRIS Commerce, IRIS POS Pay, and SEPA Instant Payments for cross-border euro transfers. Deposit products include Premium Time Deposits (up to 3.10% for €250,000+), Online Time Deposits, and Monthly Income accounts. Loan products span personal/consumer loans, mortgages (including government-subsidized programs like Spiti Mou II, Exoikonomo 2021, and Anavathmizo to Spiti Mou with 100% interest subsidy), student loans, and business financing (working capital, commercial mortgages, fixed assets). Business banking services include POS terminals, eCommerce payment gateway, bulk transfers, letters of guarantee, and international trade services. The bank participates in development programs including TEPIX III, InvestEU, and European Investment Fund initiatives. Insurance products cover vehicles, property, health, life/borrower protection, and cyber insurance. The bank's Developer Portal offers PSD2-compliant APIs for third-party integration.

Differentiator

Problem solved

Functional benefit

Brands

• ChaniaBank Mobile App: Award-winning mobile banking application of the Cooperative Bank of Chania, winner of bronze award at Mobile Excellence Awards 2022 in Digital Innovation through Mobile category.

Products and services

• ChaniaBank Mobile App Award-winning mobile banking application enabling customers to perform transactions, payments, transfers, and account management from iOS and Android smartphones.
• eBanking (Web Banking Platform) Online banking platform enabling customers to perform transactions, payments, transfers, standing orders, and account management via web browser with enhanced security features.
• IRIS Payments Instant payment service enabling real-time money transfers between accounts at different Greek banks with immediate settlement.
• IRIS Commerce Payment service allowing purchases at physical or online stores without card usage, with immediate credit to the beneficiary's account.
• IRIS POS Pay Point-of-sale payment acceptance service for merchants to receive contactless card payments through the bank's terminal network.
• SEPA Instant Payments European instant payment service enabling real-time cross-border euro transfers within the Single Euro Payments Area.
• Bank of Chania Visa Debit Card Debit card with chip technology offering secure transactions in Greece and internationally, with 3DSecure protection for online purchases.
• Premium Time Deposits High-interest time deposit product offering up to 3.10% annual interest rate for deposits starting at EUR 250,000 with 12 or 24-month terms.
• Online Time Deposit Digital channel for placing time deposits with competitive rates, available through eBanking platform.
• Monthly Income Deposit Time deposit product that pays monthly interest income to the depositor's account.
• Payroll/Pension Account Specialized account for receiving salary or pension payments with associated banking benefits.
• Tiered Savings Account Savings account with tiered interest rates that increase based on deposit balance levels.
• Individuals Checking Account Standard current account for everyday banking transactions and payments for individual customers.
• Business Checking Account Current account designed for business banking needs including payments and cash management.
• Personal Consumer Loan Unsecured personal loan for individuals to cover various financial needs with flexible repayment terms.
• House Loan (Mortgage) Mortgage loan product for purchasing or renovating residential property with long-term repayment options.
• Upgrading My Home (Energy Efficiency Loan) Energy efficiency upgrade loan with 100% interest rate subsidy, part of government energy saving programs for residential properties.
• Spiti Mou II Housing Programme Government-subsidized housing loan program for energy efficiency improvements and renovations.
• Save Energy 2021 (Exoikonomo 2021) Government energy saving program loan for residential energy efficiency upgrades, co-funded by European resources.
• Energy Saving and Autonomy (Exoikonomo-Avtonomo) Government program combining energy savings and energy autonomy through renewable systems installation.
• Student Loan (Spoudastiko Danio) Education loan product designed to help students finance their studies.
• Business Working Capital Loan Financing product for short-term operational capital needs of businesses.
• Business Open Revolving Credit Account Flexible credit line account allowing businesses to draw and repay funds as needed.
• Business Commercial Mortgage Loan for financing commercial real estate purchases and property investments by businesses.
• Business Fixed Assets Loan Loan for financing business equipment and fixed asset purchases.
• Vehicle Insurance Insurance coverage for automobiles and other vehicles, available for both individual and business customers.
• Property Insurance Insurance coverage for residential and commercial properties against damage and loss.
• Health Insurance Health coverage insurance products for individuals and families.
• Loan Borrower Life Insurance Life insurance protecting loan borrowers and securing loan repayment in case of death.
• Cyber Insurance (My Cyber Protection) Cybersecurity insurance product protecting individuals and businesses from digital threats and online fraud.
• Letter of Guarantee Bank guarantee service for businesses to secure contracts and obligations.
• Import/Export Services International trade services including import and export documentation, foreign exchange, and documentary collections for business customers.
• Foreign Currency Services Foreign exchange services for individuals and businesses for international transactions.
• eCommerce Payment Gateway Service Online payment gateway service enabling businesses to accept card payments through their websites.
• Bulk Transfers for Businesses Batch payment service allowing businesses to process multiple transfers simultaneously through eBanking.
• TEPIX III (Business Entrepreneurship Fund III) Business Entrepreneurship Fund III administered by Hellenic Development Bank, providing subsidized loans to SMEs through the Cooperative Bank of Chania as a participating bank.
• InvestEU SME Competitiveness Financing European Investment Fund program providing guarantees for SME competitiveness and growth financing, channeled through the Cooperative Bank of Chania.
• PSD2 Developer Portal and APIs PSD2-compliant APIs and developer sandbox for certified third-party payment service providers to access account information and initiate payments through secure interfaces.

Quantifiable outcome

• Zero ELA dependency achieved from 83 million EUR dependency in June 2017, demonstrating capital strength

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature7 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Pangcretia Bank (Παγκρήτια Τράπεζα Α.Ε.)coreStrategic or Co-development Partner · 22 October 2021Merger discussions initiated with Memorandum of Understanding signed in October 2021, following up on April 2022 private agreement. The merger would combine Crete's two largest cooperative banks. Extraordinary General Assembly approved the merger framework in May 2022 with 98.39% approval. Pending regulatory approvals and economic/legal due diligence.
• FEBEA (European Federation of Ethical and Alternative Banks and Financiers)coreStrategic or Co-development Partner · 4 June 2019Full member of European Federation of Ethical and Alternative Banks and Financiers since June 2019. The bank co-hosted the FEBEA Annual General Assembly and Congress in Athens in September 2023, focusing on ethical banking as response to contemporary challenges.
• National Research Foundation 'Eleftherios K. Venizelos' (Εθνικό Ίδρυμα Ερευνών και Μελετών Ελ. Βενιζέλος)coreOthersFounding member and major benefactor. The bank contributes 1% of its net (after-tax) profits annually to the foundation. Foundation focuses on research and studies named after Eleftherios Venizelos, the prominent Cretan statesman.
• Hellenic Development Bank (Ελληνική Αναπτυξιακή Τράπεζα / ΕΑΤ ΑΕ)coreStrategic or Co-development PartnerParticipating bank in Hellenic Development Bank programs including TEPIX II, TEPIX III, Guarantee Funds, Innovation Guarantee Fund, Micro Agri-Fund, Business Growth Fund, and DeLFI GF. Provides subsidized financing for SME investment projects.
• European Investment Fund (EIF) - European Investment Bank GroupcoreStrategic or Co-development PartnerChannel for InvestEU SME Competitiveness, EaSI Microfinance, and Pan-European Guarantee Fund (EGF) programs. Provides guarantee-backed financing to support SME competitiveness and micro-credit access.
• OTE Group (Όμιλος ΟΤΕ)coreTechnology or IntegrationTelecommunications infrastructure partnership. New project announced in April 2021 for upgrading telecommunications infrastructure and cybersecurity. Provides higher connection speeds, improved functionality, better service quality, and enhanced security for banking systems.
• Prime Energy A.E.minorStrategic or Co-development PartnerVenture capital partnership through subsidiary Kritikes Simmetohes (30% stake). Renewable energy investment company focused on photovoltaic systems. First joint projects include 7 photovoltaic parks in Laconia (Molaoi), with additional parks planned in Crete and Kilkis.
• Solarise A.E.minorStrategic or Co-development PartnerEPC (Engineering, Procurement, Construction) contractor partnership for photovoltaic system installations. Collaborating on joint ventures including Energeiaki Kritis A.E. for photovoltaic development in Crete.
• Energeiaki Kritis A.E. (Ενεργειακή Κρήτης Α.Ε.)minorStrategic or Co-development PartnerJoint venture between Kritika Akinita S.A. and Solarise A.E. for photovoltaic system development in Crete. Bank supports through subsidiary equity and financing.
• Bank of Greece (Τράπεζα της Ελλάδος)coreOthersPrimary banking regulator and supervisory authority. Bank operates under regulatory oversight and participates in interbank systems (DIAS, SEPA) through central bank infrastructure.
• Youth Entrepreneurship Club (YEC) - SEE GR InitiativeminorStrategic or Co-development PartnerSigned memorandum of cooperation in September 2018 for pilot project supporting social enterprises in Greece. Part of broader ecosystem supporting youth entrepreneurship and social business development.

Scale indicators5 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Pancretan Bank (Pangretia Trapeza): The other major cooperative bank operating on Crete. Subject to a 2021 MOU for merger with Cooperative Bank of Chania, approved by 98.39% of members in May 2022. Most directly comparable peer given identical cooperative structure, regional Cretan focus, and pending consolidation.
• Panehellenic Bank: Cooperative bank in which Cooperative Bank of Chania holds a 16% equity stake. Comparable as a Greek cooperative bank network participant focused on inter-bank cooperative activities and serving member institutions.
• Cooperative Bank of Karditsa: Greek regional cooperative bank with similar member-owned structure, retail and SME focus, and physical-branch-led distribution model. Comparable as a peer cooperative bank serving a defined Greek regional market.
• Cooperative Bank of Epirus: Greek cooperative bank operating in Epirus with comparable business model of deposit-taking, SME lending, and regional community focus. One of the surviving Greek cooperative banks following sector consolidation.
• Cooperative Bank of Thessaly: Regional cooperative bank in Thessaly serving retail, SME, and agricultural customers with similar member-owned governance and product set. Closely comparable in scale and regional orientation.
• Cooperative Bank of Pieria: Greek cooperative bank with similar profile — regional, member-owned, retail/SME-focused. Comparable as one of the remaining small cooperative banks navigating Greek sector consolidation.

Broad incumbents

• Optima bank: Mid-sized Greek bank (formerly Attica Bank) targeting SMEs and retail with digital channels and corporate banking. Comparable as a mid-tier Greek bank competing for similar SME and retail customers but without cooperative ownership.
• National Bank of Greece: Largest Greek systemic bank with universal retail, SME, and corporate offerings plus extensive digital banking. Comparable as a competing incumbent against which the cooperative bank differentiates on community focus and personal service.
• Piraeus Bank: Major Greek systemic bank with broad retail, SME, and corporate banking plus strong digital offering. Comparable as the dominant Greek bank whose stake in BIOCHYM was previously acquired by Cooperative Bank of Chania's VC arm.
• Alpha Bank: Large Greek systemic bank providing retail, SME, and corporate banking with extensive digital channels. Comparable as a national competitor for SME and retail deposits in Crete and Attica.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cooperative-bank-of-chania-llc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cooperative Bank of Chania