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Cooperative Bank of Karditsa (CBK)

Website www.bankofkarditsa.com
Location Greece
Key figures Impact story

Mission

Cooperative Bank of Karditsa (CBK) is geared towards financing real economy, supporting local entrepreneurship and social economy projects and improving access to finance for vulnerable social groups. Being part of a wider ecosystem of stakeholders in its region, CBK undertakes and supports initiatives providing business development services to new and existing businesses, trying to stimulate their extroversion and tackle social problems such as youth unemployment and improve financial literacy level of the community. Deeply engaged with real economy ventures in the local and regional productive system, has set as its vision to facilitate and promote the sustainable future of its members and local society.

History

Cooperative Bank of Karditsa (CBK) was founded in 1994 upon the initiative of the Chamber of Commerce and Industry of Karditsa. In 1996, CBK opened the main branch of the Bank in the city of Karditsa. In April 1998, CBK fulfilled all the requirements laid down by the Bank of Greece to start functioning as a fully regulated Financial Institution and over the years has evolved to an important development tool with solutions for all investment, deposit and borrowing needs of local community. Today, CBK has a network of 4 branches and 40 employees.

Structure

CBK is a fully regulated financial institution retaining primarily its cooperative nature, which true power arises from the participation and involvement of its members. Following a model of transparent and inclusive governance the Bank today counts 9,000 members from different stakeholders group.

Board of Management

Committed to the cooperative principles members elect their Bank’s governance representatives in a democratic way during its General Assembly. The current Board of Management consists of the following members of CBK:

  • George Boukis (Chair of the Board)
  • Makis Deligiannis (Vice President)
  • Aristotelis Milonas (2nd Vice President)
  • Orestis Psachoulas
  • Apostolis Kandylas
  • Kostas Gaitanidis
  • George Papakostas
  • Panos Tournavitis – Executive Member
  • Charalampos Fyllos – Executive Member

Market Focus, Products and Services

CBK is open for collaboration with any enterprise that respects and adheres to its ethical and social principles and its code of conduct. Its main interest and focus is on financing organizations, cooperatives and social economy enterprises and offers a wide range of products and services, such as savings accounts, current accounts, debit and credit cards, payment services online and mobile banking, addressing the needs of businesses, entrepreneurs and individuals. Moreover, CBK works actively to catalyze initiatives and support projects that would facilitate the emergence of a social finance ecosystem in Greece and Europe to benefit in an ethical and transparent way organizations and enterprises that work to tackle environmental, social and societal challenges.

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Key figures for Cooperative Bank of Karditsa (CBK)

* Figures in USD million
** Based on local currency
 20182017201620152014
Total Assets1201159291120
Funds Under Management00000
Total Assets and Funds Under Management1201159291120
Total Assets and FUM Growth (One Year)**9.88%8.95%5.71%-16.30%13.47%
Loans (net)6159505257
Loans to Total Assets50.7%51.4%54.3%57.6%47.4%
Loan Growth (One Year)**8.37%3.11%-0.37%1.72%1.21%
Client Funding104977877106
Client Funding to Total Assets86.1%84.8%84.8%84.8%88.2%
Client Funding Growth (One Year)**11.53%8.94%5.70%-19.52%16.56%
Equity1516131313
Equity to Total Assets12.3%13.6%14.0%14.0%10.9%
Tier 1 Capital Ratio21.0%18.8%17.9%18.1%16.4%
Total Revenue4.23.33.33.14.2
Net Income1.10.70.30.6-1.2
Return on Assets1.00%0.63%0.36%0.62%-0.96%
Return on Equity7.35%4.96%2.60%5.02%-8.11%
Cost to Income Ratio57.1%64.0%58.0%60.3%48.0%
Co-workers3634313127
Clients17,26716,74514,93614,45413,577

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