Attica Bank’s shareholders approved a board plan for a share capital increase worth up to 198 million euros in a move aimed to strengthen the bank’s capital base, to repay the Greek state’s preference shares worth 100 million euros, to cover any needs from the implementation of new accounting standards from January 1, 2018 and to maintain the bank’s solvency rate to its current high levels.
Attica Bank said details of the share capital increase scheme will be announced later but according to existing information, existing and new shareholders will be allowed to participate.
The main shareholder will keep its significant participation in decision making while the bank will be allowed to offer outstanding shares to existing shareholders and new strategic investors.
Attica Bank, following its return to profitability in the January-September period this year, completion of a recapitalization scheme and two securitizations of non-performing loans, will focus -fully restructured- on its main task which is funding small- and medium-sized enterprises in Greece.
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