The merger of the Cooperative Credit Institutions of the free region of Famagusta was successfully completed on Saturday, January 11, 2014.
According to an announcement, the Paralimni SEE accepted the Famagusta Regional SEA, the Sotiras Famagusta SEE, the Ayia Napa SE, the ST. Achnas, SPE Xylofagou, SPE Avgorou, SPE Liopetriou, SPE Ormidias and SEE Xylotympos.
The new entity is called SPE Kokkinochorion and is the only Cooperative Credit Institution in the free area of Famagusta.
The total assets of the company amount to 845 million euros and have more than 139 thousand customers.
The next merger will take place on Saturday, January 18, 2014, with SPE Ledra accepting SPE Kaimakliou and ST. Employees of Cyprus.