Bob Diamond Builds Online Greek Bank as Investors Flee Rivals
- Praxia gets $115 million-plus commitment from Diamond’s Atlas
- CEO, former head of Hellenic stability fund, seeks SME lending
Bob Diamond
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Bob Diamond, a rare bull on European lenders, is building up his Greek bank to challenge the nation’s stumbling, established players.
The ex-Barclays Plc boss’s Atlas Merchant Capital LLC has committed to invest more than 100 million euros ($115 million) in Praxia Bank, according to the Greek lender’s chief executive officer, Anastasia Sakellariou. The online-focused lender was created in 2017 after Atlas acquired the banking license of Credicom Consumer Finance Bank SA.