A draft bill foreseeing the merger of mostly state-owned Attica Bank with Pancreta Bank was ratified by a majority vote in Parliament on Thursday evening. Deputies from the smaller opposition PASOK party and the ruling New Democracy (ND) party voted in favor.

A deal involving Pancreta Bank, and more especially its parent company Thrivest Holding Ltd., and the Hellenic Financial Stability Fund (HFSF), which owns most of Attica's share capital, calls for the merger-cum-acquisition of non-systemic Attica Bank.

All of the other opposition parties voted against the draft bill.

Economy and Finance Minister Kostis Hatzidakis indicated that JP Morgan carried out due diligence for HFSF for Attica Bank and not Pancreta, "since the state is a shareholder in the latter," in response to a query from a rapporteur for the left-leaning Plefsi Eleftherias party.