New Era for Greek Banking: Attica Bank, Pancreta Bank Merger Complete, New Era for Greek Banking

Greece’s Attica Bank and Pancreta Bank have completed their merger, giving rise to the country’s fifth-largest bank.

The merger, finalized with unprecedented speed just weeks after the Shareholder Agreement was signed, received the necessary approvals from the Bank of Greece, the Competition Commission, and the General Assemblies of both banks.

Attica Bank has absorbed Pancreta Bank, creating a consolidated entity with a strong commitment to strengthening competition in the financial market.

The newly formed bank aims to achieve this through the introduction of innovative products, more competitive service pricing, and a dedicated focus on fulfilling customer needs.

Customers of the merged bank will start experiencing benefits immediately.

They will enjoy free withdrawals from ATMs of both Attica Bank and Pancreta Bank, regardless of their original account’s bank. Moreover, all fees for transferring funds between customer accounts have been eliminated, whether transactions are conducted at branches, through online banking, or via mobile apps.

Eleni Vrettou, the CEO of the newly formed bank, expressed her enthusiasm for the merger.

“We are opening a new chapter in the history of these two banks, one that we hope will set a new standard in the Greek financial system, “ she said. “Our goal is to create a large, strong, and dynamic bank that will serve as a model for customer service and financing needs.

“The challenge is significant, but we are fully committed to meeting it.”

She further emphasized the dedication of the teams from both banks and the support of their shareholders in making this shared vision a reality.

The successful merger not only signifies a new era for the two banks involved but also highlights the ongoing consolidation trend in Greece’s banking sector.

The move aims to build stronger and more competitive financial institutions, ultimately contributing to a more robust and customer-centric banking landscape in the country.