Attica Bank presents three-year plan for bad-loan reduction

The management of Attica Bank is expected by mid-January to have finalized its plan to reduce the lender’s bad loans – which amount to approximately 2.5 billion euros (approximately 65% of its portfolio) – in order to then launch the process to increase its share capital by a total of €490 million. 

The strategic plan to reduce nonperforming loans should be approved by the Bank of Greece and will be an integral part of the prospectus for the capital increase, which last Friday received the approval of the bank’s general meeting of shareholders and should be completed within the first four months of 2023. 

Kathimerini understands that the plan for the consolidation of the bank from the considerable – in relation to its balance sheet – amount of bad loans foresees the gradual – within the next three years – reduction of the nonperforming exposures index by approximately half through sales and of more assertive management combined with the increase of Attica’s informed portfolio.