Attica Bank announced that it signed an agreement with investment funds managed by AB CarVal Investors, L.P. for the sale of the entire portfolio of Astir I securitization, with a book value of 312 million euros.
According to the Bank, the transaction is carried out as part of its strategy for the management of Non-Performing Exposures (NPEs). It is, as it noted, an important development in the context of the transformation and the development path that leads for the first time to the definitive derecognition of non-performing loans from Attica Bank’s balance sheet.
The transaction is expected to have a positive effect on Attica Bank’s results, while at the same time it will strengthen its regulatory capital by approximately 60 basis points, with the total capital adequacy ratio standing at 17.8% (pro-forma) in the first half of 2023. The transaction is expected to close within the third quarter of the year.
