Attica Bank ready to focus on development, chairman says

Cooperation with PIMCO, a financial firm approved as preferred investor for the management of a second securitisation of non-performing loans by the bank, is a new and decisive step towards fortifying the bank and opens new prospects for wider synergies in the future, Panagiotis Roumeliotis, Attica Bank’s chairman said on Wednesday.

Addressing a general shareholders’ meeting, Roumeliotis stressed that the bank safeguarded all necessary capital, including 140 million euros in cash and 100 million euros from the purchase of its preferential shares held by the Greek state with the issue of a bond loan. He noted that Attica Bank achieved a goal to raise its Core Equity TIER I rate at 15 pct and its Core TIER II rate at 18 pct and drastically reduced its non-performing exposures from 37 pct to around 20 pct.

Roumeliotis said Attica Bank was able now to focus on its development through its digital transformation, offering high-quality digital services to clients and depositors and focusing on small- and medium-sized enterprises and households.