European banking regulators have cleared the planned takeover of a majority stake in small Greek shipping lender Aegean Baltic Bank (ABBank) by the UK-based billionaire investor Aristotelis (Telis) Mistakidis.
The former Glencore commodity trader has successfully completed the “fit-and-proper assessment” by the Bank of Greece and the European Central Bank (ECB), ABBank said in a statement.
Under ECB rules, “fit-and-proper assessments” look into “whether members of the management body of a supervised credit institution (and key function holders where relevant under national law) are suitable for their roles”.
