Michalis Andreadis, new CEO of Attica Bank

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By Leonidas Stergiou

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Administrative changes in Attica Bank are expected to be announced within the day, after the completion of the Board of Directors of the Bank that is meeting now.

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According to his information Capital.gr, for the position of the current managing director, Theodoros Pantalakis, has been proposed by the Financial Stability Fund, Michalis Andreadis, who was chairman of the Bank’s Audit Committee. Also, Michalis Andreadis is supported for the position of CEO by the outgoing director Theodoros Pantalakis.

In addition, two new Ellington-backed members will be added to the new Board of Directors. It is recalled that the main shareholder of the Bank is the HFSF, with a percentage of 62.93%, while Ellington, through TMEDE and Rinoa Ltd (14.7% and 9.87%) controls 24.6% of Attica Bank.

Market sources estimate that after the administrative changes, the time set until March for the Bank to proceed with new capital increase moves is approaching, including the share capital increase, where the HFSF rate is expected to decrease.

Source: Capital

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