Attica Bank in talks on new capital increase plan

Attica Bank on Friday said it was in preliminary talks for a new capital increase plan. In an announcement, the bank’s board said talks were at a very preliminary stage and covered the height of the capital increase plan, the way of covering it, examining the intentions of existing shareholders and the view of supervisory authorities (Finance ministry, Bank of Greece, DG Comp).

Attica Bank said it was examining also other solutions, beyond issuing a bond loan to repay the bank’s preferential shares to the Greek state (around 100 million euros) to minimize capital costs. The board said it was also seeking to establish a capital reserve to support the bank’s growth course.

The announcement said Attica Bank will continue efforts to further reduce its NPEs, along with its modernization, reducing operating costs, boosting profitability, safeguarding the interests and create value for shareholders and its executives.