Greek shipping magnate Peter Nomikos has acquired a majority stake in the Cooperative Bank of Epirus through a €30 million investment by Capstone Capital. The transaction, structured as a share capital increase, gives Nomikos control of 51% of the bank. With this move, the Cooperative Bank of Epirus aims to obtain a nationwide banking license and transform into a public limited company.

This investment, priced at the book value of €0.60 per share, highlights growing interest in the Greek banking sector, which still shows significant growth potential despite being heavily concentrated among systemic banks. The Bank of Greece has been informed of the transaction, though final regulatory approval remains pending under the “fit and proper” criteria.

Who is Peter Nomikos?
Hailing from the historic Nomikos family of Santorini, Peter Nomikos is a London-based entrepreneur with deep ties to Greece. His grandfather, Markos Nomikos, was a pioneering MP for the Cyclades and founder of the family’s namesake shipping company. The Nomikos family has long contributed to Santorini’s development, funding infrastructure such as schools and clinics after the 1956 earthquake.

Beyond shipping, Peter Nomikos is known for his philanthropic and cultural efforts tied to Greece and is also the founder of Volkan Beer—a Santorini-based brand that celebrates the island’s unique character.

The Investment Deal
On April 11, a deal was officially signed between the Cooperative Bank of Epirus and Capstone Capital, backed by the bank’s main shareholder, the Insurance Employees’ Auxiliary Pension Fund (TEA-EAPAE). The agreement includes a €30 million capital injection, which will be completed once the bank is converted into a public limited company and secures a nationwide banking license.

Capstone will become the bank’s majority shareholder upon completion. A separate agreement between Capstone and TEA-EAPAE ensures support for the transaction at all shareholder meetings and TEA-EAPAE’s continued participation until the deal is finalized.

This development marks a turning point for the bank, reinforcing its capital base (set to become one of the strongest in the EU), accelerating growth, and paving the way for national expansion. It also reaffirms investor confidence in the bank’s business model.

With steady commitment, the Cooperative Bank of Epirus has achieved a healthier portfolio and strong profitability, while maintaining deep trust among its partners, staff, businesses, and clients.

The investment now clears the path for the bank’s transformation into a nationwide financial institution.