Bank of Attica estimates that losses from bad loans will not exceed €400 million
The Bank of Attica announced that it does not expect additional losses exceeding €400 million from the possible securitization of its non-performing loans under the Hercules III state guarantee program. This estimation comes after a preliminary evaluation by the DBRS agency.
According to DBRS, the total accounting value of the bad loans is approximately €2.3 billion. The Bank stated that it will keep investors informed about how it plans to cover its capital needs arising from this.
Support for Attica Bank and Pancreta Bank Merger
The anniversary of 100 years coincides with the full transformation of the Bank. The Bank’s merger with Pancreta Bank is supported by the Hellenic Financial Stability Fund, taking into account the deadline extension for the submission of the shareholders’ agreement to the Bank of Greece until July 18, 2024.
Furthermore, any information or developments related to its activities are issued by the Bank itself and constitute a unique, reliable, and valid source of information.
Attica Bank: Ready to Face the Challenges of Tomorrow
Commitment to Excellence
Attica Bank, a healthy, efficient, and profitable bank, is ready to meet the challenges of the future. This was the message conveyed during today’s Annual Regular General Meeting of Shareholders.
A Century of Service
Attica Bank was founded in 1924, and in 2024 it will celebrate 100 years of service. This milestone coincides with the restructuring of the Bank. “For a century, we have been by the side of businesses and customers, showing resilience during crucial periods for the country and the economy,” stated Mr. Giannis Zografakis, the President of Attica Bank’s Board of Directors.
The Evolution of Modern Banking Culture
As we celebrate the 100th anniversary of our annual general meeting, we reflect on the achievements of the past year and look towards the future with renewed optimism. Mr. Zografakis emphasized that the year 2023 laid the foundations for a modern banking culture, based on values of transparency, good corporate governance, and reliability as fundamental and non-negotiable characteristics for the Bank.
Corporate governance principles are essential for building customer trust and loyalty. They ensure that the Bank operates with integrity and accountability, maintaining the highest ethical standards in all its operations.
Attica Bank: Ensuring Shareholder Rights
Attica Bank is now at the forefront of protecting shareholder and investor rights in the banking sector. With significant liquidity and capital adequacy, Attica Bank fulfills its role in the Greek banking market, focusing on flexibility, customer needs, and small and medium-sized enterprises.
The President of the Board of Directors commended the executive management of Attica Bank, noting that they have succeeded in a very short period of time in achieving this important goal.
Transforming Attica Bank: A Year of Challenges and Success
Attica Bank’s CEO, Eleni Vrettou, recently spoke about the challenges and transformations that the bank faced in 2023. She highlighted the shift in narrative that led to the bank’s return to profitability, bringing it closer to its 100-year journey.
Throughout the year, Attica Bank worked tirelessly to achieve its goals with limited resources, ultimately producing tangible and measurable results. Vrettou emphasized the importance of adapting to change and embracing challenges as opportunities for growth.
As she stated in her address, “We have responded to the practical and unwavering support of our stakeholders, transforming Attica Bank and positioning it for a successful future.” The bank’s journey towards sustainability and profitability reflects its commitment to excellence and innovation in the financial sector.
Revitalizing Attica Bank: A New Beginning
After years of hard work and dedication, Attica Bank has managed to regain the trust of its shareholders and customers. Building a strong relationship with regulatory authorities, we have successfully reestablished our credibility and are now looking towards the future with our complete restructuring.
100 Years Anniversary and Transformation
As we celebrate our 100-year anniversary, Attica Bank is also undergoing a complete transformation. Through our planned merger with Pancretan Bank, we are creating a powerful, fully revitalized, dynamic new organization. This marks a new beginning for us and sets the stage for a promising future.
The benefits of a 24-hour business
Running a business that operates 24 hours a day can bring numerous advantages. Firstly, it allows you to cater to customers who have different schedules and preferences. Whether someone needs your services in the middle of the night or early in the morning, they can count on your business being open.
Another benefit is the potential for increased revenue. By staying open around the clock, you have the opportunity to serve more customers and generate more sales. This can lead to higher profits and a stronger bottom line for your business.
Additionally, a 24-hour business can help you stand out from competitors. If your industry typically operates on a 9-5 schedule, offering 24-hour service can set you apart and attract customers who value convenience and accessibility.
In conclusion, running a 24-hour business has numerous benefits including increased customer satisfaction, higher revenue potential, and a competitive edge in the market. Consider the advantages of operating around the clock when planning the future of your business.
