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Attica Bank S A : SECURITIZATION OF “OMEGA” PORTOFOLIO


Athens, 27/04/2021

Securitization of “Omega” portfolio

Attica Bank S.A. informs its investors that, pursuant to the resolution of today’s Board of Directors, the Bank decided to proceed with the securitization “Omega”, which includes the loans/credits of the existing securitization under the name “Artemis” of the almost total portfolio of the non-performing exposures of the Bank as at 31.12.2020.

Upon the completion of the aforementioned transaction and the sale of up to 50% of the mezzanine and junior notes, the Bank could proceed, following the approval of the supervisory authority, with the de-recognition of this portfolio that will manage to further shield its Balance Sheet.

Following the “Omega” transaction Attica Bank has concluded successive securitizations (starting from December 2016) of a total amount of approximately €3 bln. Upon the successful completion of the transactions “Omega”, “Astir” 1 and “Astir” 2 (Bank’s Announcement of 18/12/2020) and following the approvals of the supervisory authority, the Bank’s non-performing exposures will amount to just €8 mln., while Attica Bank’s NPE ratio will reach, on a pro-forma level less than 1%, which is below the European average.

Finally, the Bank’s Management remains committed to its goals of ensuring capital adequacy at levels above the minimum threshold, which will allow the loan’s portfolio growth and the expansion of its΄activities. In this context, Attica Bank, among other capital enhancement actions, intends to include the aforementioned securitization in the State Guarantee Program in bonds of high repayment priority (senior notes) of securitized loans, “HERCULES II”. Upon the successful inclusion of the senior note into this program, the capital adequacy ratios (CET1 and CAD) on a pro-forma level are estimated to increase by more than two percentage points.

ATTICA BANK S.A.

Disclaimer

Attica Bank SA published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 15:36:07 UTC.



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