χώνευση της Παγκρήτιας Τράπεζας από την Attica Bank είναι ένα σημαντικό βήμα για την ενίσχυση του χρηματοπιστωτικού τομέα στην Ελλάδα. Με τη συγχώνευση αυτή, η Attica Bank θα ενισχυθεί στην περιφέρεια της Κρήτης και θα μπορέσει να προσφέρει περισσότερες χρηματοοικονομικές υπηρεσίες στους κατοίκους και επιχειρήσεις της περιοχής.
Attica Bank και Παγκρήτια Τράπεζα: Η Συγχώνευση
Το διοικητικό συμβούλιο της Attica Bank και της Παγκρήτιας Τράπεζας ενέκριναν το σχέδιο σύμβασης για τη συγχώνευση με απορρόφηση της Παγκρήτιας Τράπεζας από την Attica Bank. Αυτό το βήμα έχει ως στόχο την ενίσχυση του χρηματοπιστωτικού τομέα στην Ελλάδα και την προσφορά περισσότερων υπηρεσιών στην περιφέρεια της Κρήτης.
Τα Οφέλη της Συγχώνευσης
Με αυτήν τη συγχώνευση, η Attica Bank θα ενισχύσει την παρουσία της στην Κρήτη και θα μπορέσει να προσφέρει πιο πολλές χρηματοοικονομικές υπηρεσίες σε κατοίκους και επιχειρήσεις. Αυτό θα οδηγήσει σε μια βελτίωση της οικονομικής κατάστασης της περιοχής και στην υποστήριξη της τοπικής οικονομίας.
Merging two banks: Attica Bank and Pankritia Bank
The merger of two banks, Attica Bank and Pankritia Bank, will result in the consolidation of their assets and liabilities. Specifically, this will involve the transfer of assets and liabilities from Pankritia Bank to Attica Bank, as shown in the transformation balance sheet of Pankritia Bank as of December 31, 2023, and as they will be shaped by the completion of the merger.
The proposed exchange ratio is 0.0292156343836978 new common shares of Attica Bank for each common share of Pankritia Bank.
Attica Bank Announces Merger with UBS Europe SE
Attica Bank has recently announced its merger with UBS Europe SE, a move that will create a stronger financial institution in the market. Shareholders of Attica Bank will maintain the same number of shares they held before the merger, ensuring continuity and stability in ownership.
According to Attica Bank, the merger is subject to various approvals, including the approval of the Merger Agreement by the General Assemblies of the shareholders of the merging companies, as well as obtaining all necessary licenses and approvals from the competent authorities, in accordance with the current legislation.
Merger Agreement Approved by Greek Parliament
Attica Bank announced that the merger agreement has been approved by the Greek Parliament, with votes from the New Democracy and PASOK parties. The financial advisor and legal counsel for the merger, as well as the auditing company, have been appointed according to current legislation.
The bank will keep the investing public informed about the progress of the merger process, ensuring transparency and accountability throughout the transition.
The Merger of Attica Bank and Pancretan Bank
In a move to strengthen the stability of the financial sector, the National Economy and Finance Committee approved the merger of Attica Bank with Pancretan Bank. The agreement, signed on July 18, 2024, between the Financial Stability Fund and the company THRIVEST HOLDING LTD, aims to create a stronger and more resilient banking institution.
The New Democracy and PASOK-KINAL parties voted in favor of the bill, while all other opposition parties opposed it both in principle and in its entirety. Minister of Finance, K. Hatzidakis, questioned if there was any Minister of Finance who would reject this agreement, highlighting the importance of the merger for the Greek economy.
Minister of Finance rejects merger agreement
The Minister of Finance, Kostis Hatzidakis, rejected the agreement for the merger of Attica Bank with Pancretan Bank during his speech at the Parliament for the ratification of the relevant contract. He stated that the Bank of Greece’s governor had warned that if the merger did not proceed, there would be dramatic consequences for depositors, the banking system, and the economy. He questioned why one of the largest investment banks assured that there was no other interested investor.
Government Officials Discuss Financial Agreement
Government officials are currently in talks about a new financial agreement that could have a major impact on the country’s economy. The Parliament Commission has expressed their support for the agreement, but there are still some doubts among certain Ministers.
Minister Stournaras stated, “I wonder if there would be any Minister of Finance who would reject this agreement.” The potential merger of Attica Bank and Pancretan Bank is causing concern, as it could lead to legal issues and instability in the banking system.
Minister Hatzidakis presented all the official documents related to the transaction to the Parliament, including a letter from the Governor of the Bank of Greece, Mr. Y.
The Warning Report on the Capital Deficit of Banks
On July 16, 2024, a report was submitted to the Minister of National Economy and Finance, highlighting the capital deficit of two major banks. The report also warned about the potential consequences for depositors, including the possibility of deposit haircuts, as well as the risks to the banking system such as mass withdrawals and the collapse of vulnerable banks. The economy was also at risk if an agreement was not reached.
Investigating Potential Investment Interest
Following instructions from the Financial Stability Council, a report was conducted to explore potential investment interest under similar or better terms as presented by JP Morgan. This was seen as a crucial step to address the financial challenges faced by the banking sector and to stabilize the economy.
Transparency in Financial Transactions
It was noted that there was no other interested party in the transaction. The reports of two independent financial advisors (EU and JP Morgan) that are required by law to be submitted were discussed. Additionally, a letter of opinion from Rothschild (not required by law but requested by the Treasury) was presented, stating that the process followed was appropriate based on international practices in similar transactions. The minutes of the Treasury Board meeting on 18-7-2024 for the approval of the Fund’s participation in the transaction were also reviewed.
“Everything with transparency, everything is at your disposal,” emphasized the Minister.
Handling Criticism in the World of Finance
So, what would you do if you were in my place? With all this information, if I or any Minister of Finance were to adopt the superficial criticism that was heard today, then we could be accused of betrayal. I wish you to someday handle a similar situation and reject the solution. Let’s see what would happen then to your party but also mainly to the banking system and the economy.