Attica Bank SA

TATT

Equity

ISIN GRS001003052 / Valor 139193242

Athens Exchange S.A. Cash Market (2025-12-23)

EUR 1.57+0.13%

Attica Bank SA
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About company

Attica Bank SA, established in 1924, is a financial institution based in Greece that primarily focuses on business financing, particularly supporting small and medium-sized enterprises (SMEs), while also catering to individual customers. The bank offers a comprehensive suite of financial services, including deposit accounts, investment products, insurance offerings, mutual funds, and brokerage services. The Attica Bank Group comprises the parent company along with a subsidiary and an affiliated company, all operating within Greece. Through its diverse range of services, Attica Bank aims to address the financial needs of both businesses and individual clients, leveraging its long-standing presence in the Greek banking sector.

Summarized from source with an LLMView SourceSector: Finance

Profitability

Core revenues improved sharply: FY24 NII €106.7m (+44% YoY) and total recurring operating income €142.3m (+53% YoY). Recurring pre‑provision income (PPI) was €43.9m for FY24 (proforma FY24 recurring PPI €48.8m) and reached a record quarterly level in Q4 2024 (€16.6m reported, €18.8m proforma). Cost‑to‑income improved to 69.1% from 76.5% and NIM was c.2.14% (slight QoQ/YoY movement).

Credit quality

Significant clean‑up completed: NPE ratio 2.8% post‑transactions and NPE coverage 47.8% after the HAPS securitisation. Management highlights that NPE contribution to interest income fell to 15% (from 23%), signalling effective deleveraging of legacy problem exposures.

Capital & liquidity

CET1 capital stood at 11.9% (reported as clean of deferred tax credits). Liquidity ratios are robust: LCR ~301% and NSFR ~147%. Securities and excess liquidity include ~€1.7bn placed in sovereigns/other bonds, and client deposits remain the principal funding source (core deposits sizable).

Balance sheet and deposits

Group deposits €6.1bn (report cites a strong increase — headline +39.4% and +6.2% QoQ in the disclosure), with retail/individual deposits representing ~69% of the total. Assets under management and mutual funds grew (AuM +22% YoY; mutual funds +28% YoY).

Lending activity

Net credit expansion c.€952m in 12M 2024 (reported as ~€1bn target achieved). New loan disbursements reached €2.286bn for the year, with Q4 disbursements accelerating to €624m. Growth was concentrated in SMEs, corporate/project finance, structured finance and shipping.

One‑offs and reported loss

Reported profit before tax was -€367.6m for FY24. This large negative PBT reflects one‑off losses related to the HAPS securitisation, restructuring and merger costs and very large provisions (report shows provisions for expected credit losses around -€398m line‑item), rather than the underlying recurring operating performance which was positive and improving.

Merger & proforma context

Results reflect the creation of the “New Bank” following the August/September 2024 merger with Pancreta (PCB). The presentation includes proforma adjustments (aligning PCB IFRS9 accounting) — proforma FY24 recurring PPI reported €48.8m and Q4 proforma €18.8m. The bank has also completed recapitalisation measures and attracted strategic private capital (Thrivest ~55% stake noted in the report).

Summarized from source with an LLMView Source

Key figures

137%1Y

%3Y

%5Y

Performance

44.1%1Y

99.1%3Y

99.1%5Y

Volatility