Attica Bank Sells Non-Performing Loans

1 minute read | October.11.2023

Attica Bank S.A. has sold a portfolio of securitised non-performing loans that formed part of its Astir I securitisation portfolio, with a total book value exceeding €300 million.

Orrick acted as international counsel for the bank.


Established in 1925, Attica Bank provides a range of financial services to individuals and businesses in Greece. 


The transaction involved the sale to a special purpose vehicle established by funds under the management of AB CarVal Investors L.P. and it represents a key milestone for Attica Bank in the context of its strategy for the divestment of non-performing loans.

The transaction has a positive impact on the Bank's results, while at the same time it strengthens the Bank's capital by approximately 60 basis points, the bank said.


Orrick’s Madeleine Horrocks and Annalisa Dentoni-Litta led the team that advised Attica Bank. The team also included Franco Lambiase and Noemi Biagini.


Attica Bank announcement

Read More Orrick Client Results