ECONOMY

Attica Bank share increase fully covered

attica-bank-share-increase-fully-covered

Attica Bank has fully covered its 240-million-euro share capital increase, it said on Tuesday.

In addition, shareholders approved a strategic investor for the bank, it added in a statement.

Following the share capital increase, the capital adequacy ratio CET1 comes to the bank’s pro forma level and, based on published results of June 30, 2021, to nearly 11%, significantly higher than the minimum rate in effect at present.

In a statement, the bank noted that 2022 will be a landmark year for Attica Bank, as its timetable includes incorporating its securitization’s senior notes in the Heracles 2 program.

This will rationalize the balance sheet and free regulatory capital, which will be funneled into developing the bank’s projects and increasing its loan portfolio.