Attica Bank will enter a recovery and profitability course

Attica Bank will enter a recovery and profitability course based on its restructuring plan, Panagiotis Roumeliotis, the bank’s chairman told ANA.

Roumeliotis said that following completion of procedures to issue two bond loans and securing an investor to cover the bank’s capital needs, Attica Bank finally resolved its capital adequacy issue and stressed that all NPLs indexes will be drastically reduced “below the average rate of the Greek banking system currently”. The Greek banker said Attica Bank was “improving its image”.

He underlined that the bank was implementing measures, from January 1, to reduce its operating costs and said there was a plan to seek partnerships with foreign banking institutions to boost the bank’s liquidity and to finance business activity in the country, particularly extrovert and innovative companies.

Roumeliotis said Greece and its partners needed to complete a second review of the Greek program.