Attica Bank

Hello there! It took Nikos A.A. (Leader of the Opposition) a while to meet Mitsotakis, but as far as I’ve gathered from my sources at M.M. (Maximos Mansion), once he got going, the leader wasn’t just official… he was ultra-official. From what I hear, he came across well—serious and composed (for PASOK, that is). He didn’t go to extremes, nor did he turn the one-on-one with K.M.

The Athens Chamber of Commerce and Industry (EBEA) and Attica Bank signed a memorandum of understanding on Monday.

The aim of the cooperation between the two parties is to support Greek entrepreneurship by promoting actions to enhance the competitiveness, productivity and sustainable development of EBEA members, according to the announcement.

Attica Bank, Greece's fifth largest lender, has raised 672.2 million euros in the context of the share capital increase that was completed and covered to the tune of 86.94% by existing shareholders.

As part of the increase, 359,469,360 shares were issued and the same number of share purchase certificates, which were made available to the participants in the increase.

Two major US investment funds are expected to participate in Attica Bank's share capital increase, which takes place from October 21 to 30 and aims to raise 672.2 million euros.

Shareholders of Attica Bank approved a share capital increase (SCI) of 735 million euros, during an extraordinary general meeting on Wednesday.

The bank's shareholders approved a SCI of €672.1 million in cash payment for existing shareholders and by exercising warrants of €62.9 million.

The merger of Attica Bank and Pancreta Bank was finalized on Wednesday, creating the fifth largest bank in Greece by estimated assets.

According to the official announcement, the merger was completed within demanding timelines and at unprecedented speed - just weeks after the shareholders' agreement - signaling a new era for the unified bank and the country's financial system.

The bank that will result from the merger of Attica Bank and Pancreta Bank is aiming at becoming a strong fifth pole in Greek banking, besides the current "big four" (Alpha, Eurobank, National, Piraeus).

The Greek stock market began Monday’s (29/7) session down, in a week that starts with the National Bank’s dividend cut, followed by crucial announcements on the results of heavyweight listed companies.

Construction group Avax is expected to secure multiple benefits from the liquidity of 300 million euros through the issuance of a loan with a duration of seven years. The loan will be concluded between Avax Concessions and Piraeus Bank, Alpha Bank, National Bank, Bank of Cyprus and Attica Bank.

With an increased majority, the ruling party ND (New Democracy) and PASOK-KINAL voted for the Ministry of Finance and National Economy’s bill “Ratification of the 18.7.2024 Merger and Investment Agreement between the Hellenic Financial Stability Fund and the limited liability company THRIVEST HOLDING LTD” for the merger of Attica Bank with Pancreta Bank in the plenary session.