The Greek Deal.com
ATTICA BANK
Main terms and timetable of the merger
In a statement, Attica Bank declares the commencement of its merger procedures with Pancreta Bank and provides an indicative timeline along with the basic terms.
The merger of Attica Bank with Pancreta is the optimal solution for the Greek State
The proposed solution for the Attica Bank and the Pancreta is the optimal solution both for financial stability and for the Greek taxpayer, assured the Governor of the Bank of Greece, Yannis Stournaras, speaking recently at the Standing Committee on Economic Affairs of the Parliament.
Lack of agreement for Attica Bank will lead to a €1.6 billion haircut on deposits
Minister of Finance Kostis Hatzidakis referred to a loss of savings of over €1.6 billion if the uncovered deposits (909 million for Attica Bank and 726 million for Pancreta) would be lost.
Deal for the fifth banking pole is sealed
After Attica Bank and Pancreta Bank signed a legally binding agreement, the fifth banking pole was formed.
Started review of Attica Bank and Pancreta ratings for possible upgrade
Attica Bank and Pancreta Bank will have their long-term ratings revised by Moody's to an upgraded status.
The conclusion of the DBRS on non-performing loan portfolio
Attica Bank said on Tuesday that the initial evaluation of its non-performing loan portfolio by rating agency DBRS Morningstar was finished, meaning that the total loss from a possible sale of this portfolio through securitization under the Hercules III state guarantee program would not exceed €400 million.
Supports the merger of Attica Bank - Pancreta Bank
At today's Attica Bank General Meeting, Christina Papakonstantinou, the Deputy Governor of the Bank of Greece, emphasized that the Bank of Greece supports the merger of Attica Bank and Pancreta.
5th banking pillar with €10 billion in deposits
It is only a matter of time until the fifth banking pillar in the Greek market is established, as the heads of the two major project shareholders, Alexandros Exarchou of Thrivest and Ilias Xirouhakis of the Hellenic Financial Stability Fund, have met numerous times to work out the last, formal details.
Confirms shareholders' agreement in principle
Attica Bank attests that the shareholders have come to a basic understanding on a widely recognized agreement that encompasses the essential conditions of the planned merger with Pancreta Bank.
Operating profit of €8.7 million in the first quarter
Attica Bank reported organic profitability for the fifth consecutive quarter in the period January - March. The business growth achieved in 2023 continues with another quarter of positive credit expansion and growth in 2024, according to the update.
Next five years will be decisive for Greece's future
CEO of Intrakat Alexandros Exarchou stressed that Greece must change its productive structure in the next few years.