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Attica Bank receives three offers for management of an NPEs portfolio

Attica Bank’s board will meet early next week to decide on the buyer of an NPEs loan portfolo worth 700.5 million euros and on a potential participant in the bank’s equity capital, covering a gap from a recent share capital increase scheme.

According to sources, the three candidates in a tender to buy Attica Bank’s NPEs portfolio – which was concluded on Thursday – have submitted offers of 60-75 million euros. Aldridge, a US fund that purchased Attica Bank’s previous package of loans worth 1.3 billion euros, the consortium Pimco-Qualco-Oak Tree and the UK fund Buet are the three candidates.

Attica Bank on Friday announced that a deadline for the submission of binding offers for the management of the NPEs portfolio worth 700.5 million euros ended on Thursday.

Attica Bank, in an announcement, said three offers were submitted, that will be assessed by the advisor and the bank, before the bank selects the most suitable candidate among the interested parties, so that all the necessary contractual documents are signed by the end of June, along with the continuous effort to strengthen the bank’s capital base with the support of foreign and domestic investors.

“Consequently, from July 2018 onwards, restructured, adequately capitalised and with high solvency ratio, Attica Bank will be able to proceed efficiently to fulfill its purpose for the best service of its clientele, SMEs and freelancers in particular, in the interests of its shareholders and aiming at increasing its profitability,” the bank noted.

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