General assembly of Attica Bank shareholders clears way for 490-mln€ share capital increase

An extraordinary general assembly of Attica Bank shareholders on Friday approved and validated a share capital increase of 490 million euros, aimed at restructuring the non-systemic lender and ensuring future growth.

In addressing shareholders, Attica Bank president Konstantinos Makedos said the decision comprises a final step for implementing an agreement, in principle, of the ATHEX-listed lender’s primary shareholders. He also cited the prospect of issuing and offering share certificates, with or without a right of first preference by current shareholders, something he said will allow for the full coverage of the share capital increase, in tandem with steps to further privatize the bank.

The goal, according Makedos, is for previously troubled Attica Bank to firmly emerge as the fifth biggest lender in the country.