With an elevated majority, ND and PaSoK voted on the Authority and as an entire, the draft regulation of the Ministry of Finance of the Nationwide Financial system and Funds “Sanction of the 18.7.2024 Merger and Funding Settlement between the Monetary Stability Fund and the restricted legal responsibility firm with the identify THRIVEST HOLDING LTD” for the merger of Attica Financial institution with Pankritia Financial institution by the Plenary within the Parliament.
All different Opposition events voted towards the Authority and your complete invoice.
The Minister of Nationwide Financial system and Finance Kostis Hatzidakis concluding the dialogue by answering a query from the particular purchaser of Plefsis Eleftheria if the market analysis he did for an investor and carried out on the order of the HFSF by JP Morgan additionally involved Pankratria Financial institution he stated that “it involved the Financial institution Attica as a result of he had a shareholding there and never in Pankritia”.
Yiannis Stournaras spoke in favor of the settlement within the Parliament
The disastrous results that the failure to achieve an settlement on Attica Financial institution would trigger to the State had been listed by the Governor of the Financial institution of Greece, Yiannis Stournaras, throughout his presentation to the Financial Affairs Committee within the Parliament yesterday, declaring that the proposed answer with Pankritia Financial institution is the perfect answer each for monetary stability and for the Greek taxpayer.
Mr. Stournaras significantly targeted on the potential for a possible lack of financial savings of over 1.6 billion Euros (haircut) in non-guaranteed deposits of 1.6 billion Euros and the losses of 1.7 billion Euros of TEKE that ought to cowl the systemic banks as a way to compensate the lined deposits of the 2 banks.
He additionally underlined that with out an settlement, the participation of the HFSF could be annihilated and the State would lose 1.8 billion euros, whereas on the identical time a brand new era of “pink loans” could be created from the beleaguered depositors who wouldn’t have the ability to meet their obligations.
He additionally emphasised that as a result of “it is going to be the primary time for the reason that starting of the disaster that deposits can be ‘lower’ in our nation, it’s nearly sure that savers’ confidence can be shaken and it’s attainable that we are going to see a ‘financial institution run’ (mass withdrawals of deposits) in much less necessary or “susceptible” banks, with out having the ability to exclude results on the liquidity of necessary banks as properly”.
The sizes of the 2 banks
In response to the monetary knowledge of the banks for the monetary yr 2023:
Attica Financial institution has:
- Belongings: 3.77 billion euros.
- Grants (after provisions): €2.68 billion.
- Deposits: 3.15 billion euros.
- Fairness: 446 million euros.
Pankritia Financial institution has:
- Belongings: 3.45 billion euros.
- Grants: (after provisions): €2.04 billion.
- Deposits: 2.6 billion euros.
- Fairness: 251 million euros.
Shareholders of Attica Financial institution at this time are:
- the HFSF with a charge of 72.5%,
- e-EFKA with a charge of seven.6%,
- the Financial institution of Greece with a proportion of 5.0%,
- Thrivest Holding with a proportion of 4.4%,
- the TMEDE with a charge of 4%
- and different shareholders and systemic banks with a complete proportion of 6.5%.
Shareholders of Pankritia Financial institution at this time are:
- Thrivest Holding with a proportion of 43.8%,
- Alfa Ocean Developments with 4.0%,
- the Nationwide Financial institution with a charge of three.6%
SOURCE: ot.gr
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