Greece's Attica Bank successfully concludes capital increase

CrediaBank SA

06/11/2024 09:37

ATHENS, Nov 6 (Reuters) - Greece's small
state-controlled Attica Bank  BOAr.AT  said on Wednesday it had
successfully concluded a capital increase of 672.2 million
euros, part of a privatisation plan that also includes a merger
with Pancretan Bank. 
    The capital increase in cash and pre-emptive rights in
favour of existing shareholders will cover the capital needs of
the new bank, and is expected to reduce its non-performing loan
exposure to 3% of its total loan portfolio from about 54%
currently.
    Private company Thrivest, Pancretan Bank's main shareholder,
will raise its stake in Attica to more than 50% from about 5%
currently.
    The stake held by state-controlled bailout fund the Hellenic
Financial Stability Fund in the new entity will be reduced to
35% from 72.5%.    

 (Reporting by Lefteris Papadimas; Editing by Jan Harvey)
 ((lefteris.papadimas@thomsonreuters.com; +30 6944 248134;
Reuters Messaging: lefteris.papadimas.reuters.com@reuters.net))