Greek lender Attica bank denies reports it is under liquidation

2 November 2015
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Greek lender Attica Bank dismissed on Monday media reports it is under liquidation, following the results of the ECB’s stress tests, saying it will continue with its recapitalization process as planned.

“Reports claiming the bank is insolvent and is thus entering into liquidation by creating a ‘good bank’ and ‘bad bank’, are totally untrue and misleading,” the bank said in a press release.

“Attica Bank will proceed successfully with the recapitalization process, with the support of its main shareholder [the social security fund] TSMEDE / ETAA which will continue to hold in the future the same shares, but with the possible addition of new private investors with whom it is at the consultation stage,” it added.

Any capital that may be missing after the above actions are completed will be covered by the Hellenic Financial Stability Fund (HFSF), as the recent law on bank recapitalization stipulates.

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