MIRA INFORM REPORT

Report Date :

24.12.2013

IDENTIFICATION DETAILS

Name :	ATTICA BANK S.A.

Registered Office :	23 Omirou 10672 Athens Attiki

Country :	Greece

Financials (as on) :	31.12.2012

Date of Incorporation :	01.01.1925

Com. Reg. No.:	006067

Legal Form :	Societe Anonyme

Line of Business :	Subject is engaged as Miscellaneous Business Credit Institutions

No. of Employees :	988

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Slow

Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March, 31^st,2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Greece

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

greece - ECONOMIC OVERVIEW

Greece has a capitalist economy with a public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by nearly 4% per year between 2003 and 2007, due partly to infrastructural spending related to the 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending. But the economy went into recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing budget deficit. The economy contracted by 2.3% in 2009, 3.5% in 2010, 6.9% in 2011, and 6.0% in 2012. Greece violated the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP from 2001 to 2006, but finally met that criterion in 2007-08, before exceeding it again in 2009, with the deficit reaching 15% of GDP. Austerity measures reduced the deficit to about 8% in 2012. Deteriorating public finances, inaccurate and misreported statistics, and consistent underperformance on reforms prompted major credit rating agencies to downgrade Greece's international debt rating in late 2009, and has led the country into a financial crisis. Under intense pressure from the EU and international market participants, the government adopted a medium-term austerity program that includes cutting government spending, decreasing tax evasion, overhauling the health-care and pension systems, and reforming the labor and product markets. Athens, however, faces long-term challenges to push through unpopular reforms in the face of widespread unrest from the country's powerful labor unions and the general public. In April 2010 a leading credit agency assigned Greek debt its lowest possible credit rating; in May 2010, the International Monetary Fund and Euro-Zone governments provided Greece emergency short- and medium-term loans worth $147 billion so that the country could make debt repayments to creditors. In exchange for the largest bailout ever assembled, the government announced combined spending cuts and tax increases totaling $40 billion over three years, on top of the tough austerity measures already taken. Greece, however, struggled to meet 2010 targets set by the EU and the IMF, especially after Eurostat - the EU's statistical office - revised upward Greece's deficit and debt numbers for 2009 and 2010. European leaders and the IMF agreed in October 2011 to provide Athens a second bailout package of $169 billion. The second deal however, calls for Greece's creditors to write down a significant portion of their Greek government bond holdings. In exchange for the second loan Greece has promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, these massive austerity cuts are lengthening Greece's economic recession and depressing tax revenues. Greece's lenders are calling on Athens to step up efforts to increase tax collection, privatize public enterprises, and rein in health spending, and are planning to give Greece more time to shore up its economy and finances. Many investors doubt that Greece can sustain fiscal efforts in the face of a bleak economic outlook, public discontent, and political instability.

Source : CIA

IDENTIFICATION DETAILS

Name ATTICA BANK S.A.

TRADING STYLE: 'ATTICA BANK'

ADDRESS: 23 OMIROU

10672 ATHENS

ATTIKI

GREECE

TELEPHONE: 30 2103669000

TELEFAX: 30 2103669431

E-MAIL ADDRESS: info@atticabank.gr

WEB ADDRESS: www.atticabank.gr

FURTHER INFORMATION

ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS OTHERWISE STATED

STARTED: 1925 SALES: 216,152,417

YEAR INC: 1925 PROFIT: -191,949,543

LEGAL FORM: SOCIETE ANONYME NET WORTH: 91,827,103

REG NO: 006067 NOM CAPITAL: 410,101,917

GOVT GAZ NO:00030 / 1925 ISS CAPITAL: 410,101,917

EMPLOYS: 988

SIC: 6159 6159

ACTIVITY: ENGAGED AS MISCELLANEOUS BUSINESS CREDIT INSTITUTIONS

PRINCIPALS

John Petros Gamvrilis

chairman

Antonios Sellianakis

vice-chairman

John Petros Gamvrilis

Executive Director

Elias Panagiotis Pertzinidis

member

Dimitrios Nikolaos Voganatsis

member

Efthymia Deli

member

Alexandros Theodoros Antonopoulos

member

Konstantinos Nikolaos Gouvalas

member

Aikaterini Dimitrios Zevgoli

member

John Ioannidis

member

Athanassios Evangelos Presvelos

member

Athanassios Dimitrios Stathopoulos

member

George Evangelos Hortareas

member

Periklis John Karaiskos

member

Evangelos Panagos Delis

member

TRADE PAYMENTS

Trade Payment Summary

EXP. DATE PAYING RECORD HIGH CREDIT NOW OWES PAST DUE TERM LAST SALE

31/1/2013 PROMPT 54,495 0 0 30 31/10/2012

31/1/2013 PROMPT 54,495 0 0 30 31/12/2012

31/12/2012 PROMPT 54,495 54,495 0 30 30/11/2012

PAYMENTS REPORTED

Informants report that subject's payments are prompt.

HISTORY

PRINCIPALS ANTECEDENTS

NAME: John Petros Gamvrilis

Also a director of ATTICABANK PROPERTIES S.A., ATTICA BANKASSURANCE

AGENCY S.A., ATTICA WEALTH MANAGEMENT MUTUAL FUND MANAGEMENT CO. S.A..

NAME: John Petros Gamvrilis

Also a director of ATTICABANK PROPERTIES S.A., ATTICA BANKASSURANCE

AGENCY S.A., ATTICA WEALTH MANAGEMENT MUTUAL FUND MANAGEMENT CO. S.A..

NAME: Alexandros Theodoros Antonopoulos

Also a director of GREEK PROGRESS FUND THE S.A..

BACKGROUND

Business started Jan 1, 1925.

Subject acquired the business of ATTIKIS LEASING S.A., a Societe anonyme

which started in 2001 with effect from Dec 21, 2007.

LEGAL FORM

Societe anonyme registered on Jan 1, 1925 for a period ending Dec 31, 2075.

Registration Number: 006067

Government Gazette Number: 00030 / 1925

Tax Registration Number: 094014170

On 21/12/2007 (Gov. Gaz. No. 14357/2007) subject absorbed the firm(s) ATTIKIS LEASING S.A. On 9/1/2009 (Gov. Gaz. No. 00101/2009) the company's name was changed. SUPPLEMENTARY DATA ON THE ABOVEMENTIONED EVENTS PUBLISHED IN THE GOV.GAZ.: Prior to the change that was published in the Gov.Gaz.No.:101/09 subject's name was ATTICA BANK SA., Listed in ASE as of: 6,2,1964

SHARE CAPITAL

Nominal capital: 410,101,917. Issued capital: 410,101,917.

Issued/paid-up capital was last increased on Sep 23, 2013.

PARENT COMPANY

The company is a subsidiary of ENGINEERS - PUBLIC WORKS PUBLIC ORGANIZATION, ATHENS, GREECE, which holds 51.30% interest.

Parent began operations 1 Jan 1940. CONSIGNMENTS AND LOANS FUND holds 0.96% of the voting capital.

NEW TT HELLENIC POSTBANK S.A. holds 1.12% of the voting capital.

NAME: ENGINEERS - PUBLIC WORKS PUBLIC ORGANIZATION

TOWN: ATHENS

COUNTRY: GREECE

SHARES HELD: 51.30%

SUBSIDIARIES

ATTICA WEALTH MANAGEMENT MUTUAL FUND MANAGEMENT CO. S.A. Societe Anonyme,

Athens, Greece

Year started: 2001.