TMEDE stand still backing Attica Bank up
TMEDE stand still backing Attica Bank up
  Economy  |  Greece

TMEDE stand still backing Attica Bank up

The engineers' fund will retain approximately 5% of the Bank's share capital after the completion of the increase.
RE+D magazine
20.04.2023

"TMEDE, as the successor of TSMEDE, has supported and will continue to support the long-term investment of the Engineers in ATTICA BANK, having made a decisive contribution to the Bank winning the critical battle for survival" the fund states in its announcement.

As he typically says, "in this context, TMEDE has participated in all of the Bank's share capital increases to date, we have consistently contributed to the efforts of recent years for the consolidation and treatment of its chronic pathologies and supported the Management in the implementation of its policies transformation of ATTICA BANK.

In addition, TMEDE systematically supported the strategic goal of privatizing the Bank, on market terms, through the attraction of a strategic investor. In recent months, TMEDE strongly supported the entry of Thrivest Holding Ltd, believing that the vision of creating the fifth banking pillar will work positively for ATTICA BANK and its shareholders.

Today the Bank leaves behind a long period of uncertainty and can successfully proceed to its next steps. TMEDE will not participate in the current share capital increase, but will retain a percentage of around 5% of the Bank's share capital, after the completion of the increase. He will continue to support ATTICA BANK's growth role and its ambitious transformation program."

The President of TMEDE, Konstantinos Makedos, said: "Today ATTICA BANK is turning a page. As TMEDE, we feel justified because we made a decisive contribution to the rescue of the Bank and launched its recovery. The priority in the coming years is the development of the Bank's synergies with the technical world of the country, which plays a leading role in the new production model of our country. We welcome the new shareholders and continue to support the Bank's Management with the aim of its evolution for the benefit of all its shareholders, its employees, its customers and the Greek economy".