The inspection of Attica Bank, Greece’s fifth largest bank, conducted jointly by the Bank of Greece and European Central Bank’s Single Supervisory Mechanism led to scandalous findings that have been submitted to the prosecuting authorities. Administration mismanagement has come under the microscope with Technical Chamber of Greece President Giorgos Stasinos calling on Bank of Greece Governor Yannis Stournaras to clamp down on any activity that could hurt the interest of the bank, its shareholders and funds.
Stasinos’ letter to Stournaras comes 24 hours ahead of the General Assembly of the Attica Bank where it will be decided as to whether a board of directors will be appointed or if Stasinos will place a commissioner in charge — something that will have a dramatic effect on its shareholders. Stasinos is calling on Stournaras to publicize the findings gathered regarding the bank’s management malfunctions such as problems in internal governance, doubtful business activities, and loans issued at unjustifiably low rates.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
