Attica Bank: Full coverage of the share capital increase of 240 million euros

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The full coverage of the increase of its share capital, amounting to 240 million euros, was announced today by the management of Attica Bank, while expressing its satisfaction for the successful outcome of its efforts. At the same time, through the shareholders’ agreement, it became possible for a strategic investor to enter the bank.

The CET1 capital adequacy ratio is now, after the completion of the current share capital increase, at pro forma level and based on the published data of June 30, 2021, at around 11%, significantly above the current minimum levels.

With the completion of the exercise of the pre-emptive rights in favor of the old shareholders in the increase of the share capital, followed the distribution of the unallocated shares that resulted from this process, following a special meeting of the Board of Directors of the bank.

Also, through the process of share capital increase and implementation of the shareholders’ agreement, one of the main business objectives of Attica Bank was achieved, which was the entry of a strategic investor, thus validating the bank’s strategy and its capabilities to contributes to the development of the Greek economy.

According to the announcement, the year 2022 will be a milestone year for Attica Bank, as the action plan includes the inclusion of senior notes of securitization in the “HERACLES 2” program, as provided by the basic terms of the shareholders’ agreement. . In this way, the complete consolidation of the balance sheet is achieved and supervisory funds are released, which will be channeled for the development of the bank’s operations and the significant increase of its loan portfolio. At the same time, the agreement between the shareholders of TMEDE, Ellington Solutions SA and HFSF, shields the bank during the implementation of these actions.

The strengthening of the supervisory funds but also the increased liquidity of the bank, are the guarantees of the dynamic credit expansion of Attica Bank in the coming years and its repositioning in the Greek and European banking system, the announcement states.

HFSF – Starting point of Attica Bank’s HFSF agreement with private investors TMEDE and Ellington

In a statement, the HFSF states: “The completion of the process of exercising rights in the capital increase of Attica Bank A.T.E. is the starting point of the course of reform and development of the bank. the Fund of Engineers and Public Works Contractors (“TMEDE”) and the companies “Ellington Solutions SA” and “ES GINI Investments Limited”, which describes the general framework of the terms of participation and investment in Attica Bank ATE. further specialize in the shareholders agreement.

This is the first transaction in which the HFSF enters into a shareholder agreement, acting simultaneously with its institutional role and as a private shareholder. He jointly agreed with private investors, the terms concerning the operation and the business plan of the bank and its implementation. With its participation in the share capital increase, which was successfully completed, the HFSF contributes catalytically to the sustainable transformation and development of the bank, as well as to the protection of its investment for the benefit of its shareholder, the Greek State. After the completion of the share capital increase, the HFSF participation rate in the bank’s share capital will now amount to 62.93% compared to its initial percentage of 68.24%.

“The HFSF, in the case of the non-systemic bank, Attica Bank, has reaffirmed its commitment to shielding the viability of the banking system for the benefit of our national economy.”

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