Attica Bank is on the lookout for a strategic investor

The holding of the Single Social Security Entity (EFKA) in Attica Bank remains strong, at 46.16 percent, while the second biggest stakeholder in Greece's fifth largest lender is now the Engineers' Fund (TMEDE), with a 32.5 percent share.

The bank's aim is to see EFKA's stake reduced further, to 33 percent, so that it constitutes a minority stake ahead of the lender's privatization. This is seen happening after a strategic investor has been found, a process anticipated in September.

A Pimco-led consortium's recent acquisition of securitized nonperforming exposures worth 700.5 million euros, managed by Qualco, will be added through Pimco's participation in Attica Bank's share capital.

TMEDE has seen its stake in Attica rise from 11.8 percent following the decision by Labor and Social Security Minister Effie Achtsioglou to transfer a significant stake from EFKA to...