Reports: Thrivest to participate in Attica Bank share cap increase

The Thrivest group will, after back-and-forth wavering over the recent period, apparently participate in a closely watched share capital increase by non-systemic Attica Bank, following a wide-ranging meeting by all interested parties on Tuesday at the Bank of Greece (BoG).

The development means that after a successful share capital increase ATHEX-listed Attica Bank will move towards a merger with smaller Pancreta Bank, controlled by Thrivest’s three major investors.

If the strategic plan pans out, a newly capitalized and merged Attica Bank will emerge as the fifth biggest credit institution in the country.

Banking sources in the Greek capital on Tuesday referred to an, in principle, mutual understanding over a “road map” for Attica Bank’s restructuring on the part of its major shareholders, namely, the new civil engineers’ fund (TMEDE) and Hellenic Financial Stability Fund (HFSF), on the one hand, and the looming major investor, Thrivest.