The Hellenic Financial Stability Fund (HFSF), special-purpose entity created to stabilize the sector during the bailout era, on Wednesday announced the successful completion of a 473-million-euro share capital increase by non-systemic Attica Bank.
An agreement reached this month between HFSF and now major Attica Bank shareholders Pancreta Bank, Thrivest Holdings and Greece’s four systemic banks, opens the way for the creation of a fifth major credit institution in the country.
Pancreta Bank and Thrivest Holdings participated in the share capital increase with 34 million and 30 million euros, respectively, acquiring unsold shares of Attica Bank, while the four systemic banks invested 10 million euros each, thereby covering a previous “gap” in the share capital increase scheme.
HFSF dolled out 329 million euros in its participation in the share capital increase.
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