Attica Bank initiating a share capital increase process to meet the capital shortfall identified by the Bank of Greece
Attica Bank S.A. (the “Bank”) announces its intention to proceed with a share capital increase of approximately 750 million euros to meet the capital shortfall identified in the Comprehensive Assessment performed by the Bank of Greece (BoG).
The above amount was defined on the basis of the capital plan submitted by the Bank and assessed by the Bank of Greece, following the announcement of the results of the 2015 Comprehensive Assessment (CA) performed by the BoG.
With regard to articles in the press referring to a supposed insolvency of Attica Bank which allegedly places the Bank under a resolution status and leads to its split into a ‘good’ and a ‘bad’ bank, Attica Bank informs the public that such articles are entirely untrue and misleading.
Attica Bank will successfully go ahead with the process of its recapitalisation with the support of its main shareholder, ΕΤΑΑ/TSMEDE, which will continue to hold a package of shares and with the possible participation of new private investors, with whom the Bank is currently discussing.
However, if in the end, a part of the share capital increase remains to be covered, according to the recent law on the recapitalization of the Greek banks, the Bank will be entitled along with the other banks to request the participation of the Hellenic Financial Stability Fund (HFSF).
Attica Bank S.A.
Attica Bank announces that today Mr. Polyvios Onoufriou assumed the duties of the Head of Credit and Risk Management unit of the Bank.
Mr. Onoufriou has long experience in the banking sector, having worked for sixteen years at the Bank of Cyprus (later Piraeus Bank), and having held various positions among which Head of the Large Corporates and Factoring Department and Head of the Internal Audit Department. From 2013 to 2015 Mr. Onoufriou served as Group Financial Transactions Manager at the Hellenic Petroleum Group, whereas before being employed in the banking sector he had worked for audit firms abroad.
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