The approvals of the mergers of all the Cooperative Credit Institutions by their General Assemblies have been successfully completed, according to an announcement of the Cooperative Central Bank (CCB).
The merger process starts on the second weekend of October.
The meetings of the last 41 cooperative companies took place in the week 23/9 / 13-29 / 9/2013. The merger approval process started on 1 September and was completed on 29 September 2013.
According to SKT, the merger process starts on the second weekend of October and is expected to be completed by the end of March 2014. The first merger is expected to take place on October 12, 2013 with the Nicosia Cooperative Savings Bank accepting the Cooperative Western Credit Union, Kokkinotrimithia Credit Company, the Kakopetria-Galata Cooperative Credit Company, the Solia Cooperative Savings Bank, the Marathasa Cooperative Savings Bank and the Agia Marina, Kormakiti, Karpasia, AsKomatos Cooperative Savings Bank (AS).
The list with the names of the 18 new cooperative companies which shows the Cooperative Credit Institutions that are merging:
MERGERS - 18 SPI
Name: SPE Kokkinochorion Ltd
1 SPA Paralimni
2 Famagusta Regional SEA
3 SPE Sotiras Famagusta
4 SPE Ayia Napa
5 F Achnas
6 SPE Xylofagou
7 SEA Avgorou
8 SPE Liopetri
9 SPE of Ormidia
10 SPE Xylotympou
Name: SPE Strovolou Ltd
1 SPE Strovolos
2 F Professional Branches and Entrepreneurs of Cyprus (STEKEK)
3 F Multi-children
Name: SPE Ledra Ltd
1 SPE Ledra
2 SPE of Kaimakli
3 F Cyprus Employees (STEK)
Name: Nicosia Regional SEA
1 Regional SEA of Nicosia
2 SPE Latsia
3 SPE Geriou
4 SEA Agios Ambrosios (Kyrenia)
Name: ST Nicosia Ltd
1 F Nicosia
2 SEA of Western L / sia
3 SPE Kokkinotrimithias
4 SEP Kakopetria-Galatas
5 F Solias
6 F Marathas
7 F Agia Marina, Kormakiti, Karpasia, Asomatou (AMKKA)
Name: SPA Tamassos - Mountainous and Pitsilias Ltd
1 SPA Tamassos & Knives
2 ΣΠΕ Πίστεως
3 F Pitsilias Nicosia
4 SPE Orini
5 SPA Palaichori
6 SPE Madaris
Name: SPE Lakatamias - Defteras Ltd
1 SPE Lakatamias
2 SEA Defteras-Anagyas
3 Private Employees of Cyprus Cooperative Savings Bank (SYTIEK)
Name: Cyprus Police & Military Cooperative Savings Ltd
1 F Cyprus Police
2 F Members of the Cyprus Army
Name: Cooperative Savings Bank for Energy and Banking Telecommunications Employees
1 F Employees of the Cyprus Telecommunications Authority
2 F Employees of the Cyprus Electricity Authority
3 F Bank Employees of Cyprus
Name: Cyprus Cooperative Construction & Civil Servants Savings Ltd
1 Cooperative Construction & Civil Servants Savings Bank of Cyprus (SOTADYK)
2 F Limassol Civil Servants
3 F Government Workers of Cyprus (STAKEK)
4 F Larnaca Civil Servants
Name: Cyprus Teachers' Cooperative Savings Ltd
1 F Teachers of Cyprus
2 Cooperative Savings Bank of Greek Secondary Education Officers (STELMEK)
Name: SPA Makrasykas - Larnaca - Famagusta District Ltd
1 SPE Makrasykas
2 SPE Vasilikos Pentaschinos
3 RIA of Rural Development
4 F Karpasia
5 SPE Akanthou
6 F Solution
Name: Solidarity SPA Ltd
1 Solidarity SA
2 ΣΠΕ Αθηαίνου
3 SEA of Stavrovouni, Lefkara
4 SPA Livadia Larnaca
Name: ST Famagusta - Larnaca Ltd
1 F Famagusta
2 SPE Konteas
3 SEA of Kiti-Pervolia Cooperation - Tersefanou - Meneou
4 F Larnaca
5 Cyprus Women's Cooperative Initiative
Name: SPE Troodos Ltd
1 SPE Kyperountas
2 SEA of Limassol
3 SPE Orini Pitsilias
4 SPA of Limassol Mountain Resorts
5 SPA Krasohorion
6 F Pelendriou
7 SPE Agros
Name: Limassol Regional SA Ltd
1 SPA Mesa Geitonias
2 SPE Kourion
3 SPE Ypsona - Hill
4 SEA East Limassol
5 SPE Pissouri
6 SPE Morphou
7 SPE Trachonios Kolossiou
Name: ST Limassol Ltd
1 F Limassol
Name: ST Paphos Ltd
1 Greek F Paphos
2 SEA Geroskipou and East Paphos
3 SEA of the City of Chrysochous Region
4 SEA Chlorakas - Kissonergas
5 SPE Pegeia
6 SEA Kato Paphos
7 SPE Stroumbiou
8 SPE Pomou - Tillirias
9 SPE Stavros Minthis
10 SPE Giolou
11 ΣΠΕ Σιμου
12 SPE Laonas
13 SPA Amargetis and Surroundings
14 SEA of Chrysorogiatissa Region
15 SPE Polemiou
16 SPE Kouklia