Our story

Pancreta Factors, founded in 2021, has transformed into a Financial Institution, specialized in providing factoring services as of December 2023. Its operations strictly adhere to the regulatory framework stipulated in Law 1905/1990 for Factoring, ensuring compliance with industry standards under the supervision of Bank of Greece.


Our vision

Our vision is to offer Factoring products in line with contemporary market trends while leveraging the latest digital applications, aiming to modernize our services and consistently satisfy our customers.

The Group

Pancreta Bank has started its operations in 1993 as a cooperative bank, and was transformed into a Société Anonyme in 2020, expanding its presence throughout Greece.

Since 2021, it has been implementing an ambitious corporate transformation plan with the aim of developing and establishing itself as a modern and competitive financial institution, with reliable and strong prospects for the future.

After the successful completion of the absorption of HSBC in Greece on July 31st 2023, the Bank operates as a new organization, keeping advisory banking and the provision of high-quality service for its entire clientele at the core of its operating model.

It actively supports businesses, individuals and organizations, with personalized and flexible solutions as well as innovative products and services, by successfully combining personal communication with digital technology tools.

Today, it employs more than 800 people and serves over 300,000 customers through an extended branch network, with the aim of further strengthening its presence and clientele in dynamic markets throughout Greece.

Learn more about Pancreta Bank.


Corporate Governance

Corporate governance ensures that the company operates with reliability, accountability and transparency. It applies Greek legislation as well as international best corporate governance practices to safeguard the interests of shareholders, customers, and the company's human resources.


Board of Directors

The company's Board of Directors is elected by the General Assembly. The current Board of Directors has as follows:

  1. Georgios Kourletakis, Chairman, Executive Member 
  2. Michael Michaelides, CEO, Executive Member
  3. Georgios Xifaras, Non Executive Member
  4. Serafim Chryssikos, Non Executive Member
  5. Antonios Vourakis, Non Executive Member
  6. Iordanis Chatzikonstantinou, Independent Non Executive Member 

The Board of Directors term of office expires on 06-12-2027.


Organizational Structure

The company's organizational structure has as follows:



According to the Board of Directors decision, the tasks of the below mentioned functions, have been outsourced to Pancreta Bank S.A. in accordance with the provisions of Bank of Greece Governor Act 2577/2006:

  1. Risk Management
  2. Regulatory Compliance *
  3. Internal Audit 
  4. Information Systems Support

* The duties of Money Laundering Reporting Officer have been assigned to the Director of Operations