Learn more about the companies of the Cooperative Bank of Chania Group
The Cooperative Bank of Chania, aiming to further support and develop the local economy and entrepreneurship, has invested in some of the most important sectors of the Cretan economy, such as the development, utilization, and exploitation of real estate, the creation of new infrastructure for businesses, the processing, promotion, and marketing of agricultural products, as well as renewable energy sources.
KRITIKA AKINITA S.A., founfed in 2000 and operating in the real estate sector and providing services covering the entire spectrum of the real estate market and development in Crete, the Cooperative Bank of Chania holds a 74.4% stake.
Recently, the company, together with Chania Bank, after receiving the necessary approval from the Capital Market Commission and the Bank of Greece, established and operate the Chania Real Estate Investment Company (AEEAP CHANION), with an initial share capital of 36 million euros, contributing income-generating investment properties. The benefit will come from the favorable regime governing companies of this legal form and the possibility of their listing on the stock market within two years.
In collaboration with the Chania Chamber of Commerce and Industry, Cretan Properties participates in the Epixeirimatiko Parko Chanion A.E. (Chania Business Park S.A.). The company is completing the construction of a new business park for medium and low-disturbance enterprises on a privately-owned 515-acre plot in the Malaxa area of Chania. This project addresses the need for a modern and organized business hub for local entrepreneurship. It is a vital project for Crete, co-financed by the European funding program “Jessica.”
The Bank holds a 71.7% stake in Anatoli Industrial Company S.A. (ABEA), one of the country’s oldest companies in the sector, founded in 1889. The company is active in the collection, standardization, and trade of Cretan olive oil, the processing of olive kernels, and the production of soap products. It continuously invests in outward expansion, strengthening its export orientation, and in the constant qualitative upgrading of its products. The company has returned to significant profitability in recent years.
The Bank also holds a 95% stake in VIOCHYM S.A., another historic Chania-based company that has been producing high-quality juices from fresh Cretan citrus fruits for decades. After completing its share capital increase, the company is planning its merger with ABEA, with the clear aim of achieving economies of scale and improving its financial performance.
The Bank holds 49% of the share capital of Chiotakis Bros S.A., a company that produces and markets dough products, traditional Cretan delicacies, and bakery products, highlighting the benefits of the Cretan diet. The company has completed its relocation to a modern 5,500 square meter factory near Chania airport. Particular emphasis is placed on implementing a reorganization plan and a business plan that will allow for increased sales, reduced production costs and administrative expenses, the qualitative improvement of products, the restoration of liquidity, and ultimately the return of the company to profitability.
Finally, in the renewable energy sector, the Bank owns 100% of Prime Energy Single-Member S.A., a company active in the study, licensing, construction, and maintenance of photovoltaic parks in and outside of Crete. The company currently operates privately-owned photovoltaic parks with a capacity of 2.1 MW and holds two biogas licenses in the region of Crete.