Following its announcements on July 24 and July 26, Attica Bank noted in a relevant announcement that the Bank of Greece had approved the merger of Attica Bank and Pancreta through the absorption of Pancreta by Attica Bank yesterday.

According to the current timetable, the Merger is expected to be completed in early September, subject to the necessary approvals of the competent authorities and the General Assemblies of the two credit institutions. In any event, the timetable for the Merger is subject to unpredictable factors and is subject to change.

The capital of the increase is expected to be €735 million, of which €475.1 million will be contributed by the HFSF and a maximum of €200 million by Thrivest while share purchase rights will be issued.

This creates the precondition for the creation of the 5th banking pole with assets of €10.2 billion.

The aim of the bank's management is to focus on small and medium-sized enterprises by financing the backbone of the national economy.

It is noted that the Competition Commission is also expected to give its approval given that the new bank's share compared to the systemic banks will not complicate the relevant procedure on the part of the Commission.