The managements of Pancreta Bank and Attica are working on the business plan ahead of the upcoming merger between the two entities which is expected to be ready by February, Pancreta CEO Antonis Vartholomeos said.  

Also, the due diligence process is scheduled to start in the coming weeks, which will define the terms of the merger and the swap ratio between the banks.

“The government and the shareholders are ready for the creation of the country’s fifth largest bank,” Vartholomeos said. 

The assets of the two banks are estimated between 4 and 5 billion euros.