A recapitalization of non-systemic lender Attica Bank is scheduled for late January 2017, with a capital infusion of 70 million euros expected to come from an investor that will participate in the management of the bank’s non-performing loans (NPL) portfolio.
By A. Doga
A recapitalization of non-systemic lender Attica Bank is scheduled for late January 2017, with a capital infusion of 70 million euros expected to come from an investor that will participate in the management of the bank’s non-performing loans (NPL) portfolio.
A securitization of the bank’s NPLs, worth 1.2 billion euros, is expected to take place at the end of this month, with the selection of the investor coming around the same time.
The bank’s management has pointed to 2018 as the goal for a return to profitability.