The Bank of Greece (BoG) approved the merger between Attica Bank S.A. and Pancreta Bank (Pancreta S.A.). The merger is scheduled to finish in September, once the competent Authorities and the general assemblies of both banks are obtained.
According to the current schedule, the merger is expected to be completed in early September, provided the necessary approvals from the relevant Authorities and the General Assemblies of both credit institutions are obtained.
Attika Bank based the merger on the following:
The creation of a unified financial institution through the absorption, with universal succession, of all Pancreta Bank’s assets by Attica Bank.
The more effective achievement of the bank’s corporate purpose, which will be realized through its growth as a result of the merger.
The achievement of economies of scale in administrative expenses and the general reduction of operating costs, maximize the efficiency of the administrative organization of the merging credit institutions.
The creation of a unified corporate entity that provides a stable, fair, and friendly environment for employees, suppliers, creditors, and customers of the merging credit institutions, resulting in opportunities for high-level growth and progress on competitive terms, with the aim of better serving customers and meeting their needs.
