Attica Bank begins recapitalization plan
Attica Bank on Wednesday launched a share capital increase plan worth up to 750 million euros to meet the capital requirements resulting from a stress test conducted by the Bank of Greece.
Under the base scenario, Attica Bank needs a capital boost of 584 million euros, while under the adverse scenario the bank will need 784 million euros. The bank said it planned to complete the share capital increase plan by the end of the year through a rights’ issue and offering any unsold shares to interested investors.
The bank’s main shareholder, holding 50.67 pct of the bank’s common shares, has pledged to participate in its recapitalization.
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