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XM.com CEO to Acquire Majority Stake in Ancoria Bank

5/2/2025

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Summary

Story summary

Costas Cleanthous, CEO of XM.com, is set to acquire a majority stake in Ancoria Bank, Cyprus.
The acquisition awaits approval from the Central Bank of Cyprus, with a request anticipated shortly.
Post-acquisition, Cleanthous will own 55%, while Charalambos Panayiotou will hold 25% of the bank.
This investment aims to bolster Cypriot entrepreneurship and support SMEs, benefiting the local economy.

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Story summary

Costas Cleanthous, CEO of XM.com, is set to acquire a majority stake in Ancoria Bank, Cyprus.
The acquisition awaits approval from the Central Bank of Cyprus, with a request anticipated shortly.
Post-acquisition, Cleanthous will own 55%, while Charalambos Panayiotou will hold 25% of the bank.
This investment aims to bolster Cypriot entrepreneurship and support SMEs, benefiting the local economy.