ECONOMY

Attica Bank has share capital increase successfully covered

Attica Bank became on Friday the first entirely private bank to be fully recapitalized following the completion of its share capital increase and the issue of a convertible loan.

It announced that the capital increase required to reach 399 million euros was covered by over 100 percent by private investors, thereby covering the full amount of its capital needs as determined by the Bank of Greece.

Attica was not deemed a systemic bank but rather a medium-sized lender, and did not require any contribution from the Hellenic Financial Stability Fund (HFSF) for its recapitalization, remaining private.