Attica Bank: Measures for the protection of households and SMEs

The Executive Committee of Attica Bank, meeting on Monday, November 10th 2008, decided to take the following measures to facilitate and support its customers, both  households and small and medium enterprises.

More specifically:

  1. Attica Bank does not change its deposit interest rates, despite the fact that the interest rates of many types of loans have fallen because they are automatically adjusted to the changes of the ECB rate and Euribor.
  2. It freezes foreclosure procedures for 6 months. The measure applies only to mortgages for the purchase of houses that serve as first residences (dania protis katikias) whose value does not exceed 300,000 euros.
  3. It freezes 50% of the amount of mortgage payments for loans taken for the purchase of houses that serve as first residences (dania protis katikias) until the end of 2009. The measure applies only for non-securitised loans to unemployed customers who fill in the relevant application to the Bank and submit copies of the documents issued by the Greek Manpower Employment Organisation confirming their unemployed status. The amount of the mortgage cannot exceed 200,000 euros. Under no circumstances, can the repayment period of the loan be extended.
  4. Attica Bank is contemplating co-operating with the European Investment Bank to finance SMEs under favourable terms.
  5. The Bank participates in the programme for the enhancement of liquidity of SMEs through the subsidised and guaranteed schemes of the Credit Guarantee Fund of Small and Very Small Enterprises (TEMPME).
  6. The Bank returns interest equal to 2% to credit card holders with no payments in arrears. The measure applies for credit cards with limits up to 1,500 euros and for the period from 12/12/2008 to 12/12/2009.