1 st. Annual Greek Roadshow. London, September 20-21, 21, 2006

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1 1 st Annual Greek Roadshow London, September 20-21, 21, 2006

2 History - Profile Founding Year Part of Emporiki Bank Group, Initial Public Offering (ASE) Major change in Shareholders stakes, Major Shareholders: T.S.M.E.D.E., L.C.F. Establishment of Financial Group Major Shareholders: T.S.M.E.D.E., Greek Postal Savings Bank, L.C.F. Company Name: Bank of Attica S.A Logo: Headquarters Address: 23 Omirou Street, 10672, Athens, Greece. Telephone Center: Web Address: -TSMEDE stands for the Engineers & Public Works Contractors Pension Fund - LCF stands for Loans & Consignements Fund

3 Major Shareholders Shareholder Number of Shares Equity Participation Figures & Description TSMEDE Engineers & Public Works Contractors Pension Fund 34,653, % TSMEDE had approximately 96,000 members and 12,500 pensioners as of December 31 st, Its total assets were 2,560 million at the end of Greek Postal Savings Bank 15,771, % State owned financial institution, listed at the Athens Stock Exchange since June Its total assets were 11,564.6 million and profits before taxes were million at the end of TPD Loans & Consignments Fund 15,798, % State owned financial institution. It holds trust funds and accepts deposits on behalf of the State.It also provides mortgages to civil servants and loans to local authorities. Its total assets were 10,245.6 million and its profits before taxes were 248 million at the end of As at August 2006: -Number of Shareholders: 24,575 -Number of Shares: 82,577,910

4 Attica Bank Group ATTIKI AEDAK S.A. ATTIKIS LEASING S.A. ATTICA VENTURES S.A. ATTICA CONSULTING AND TRAINING SERVICES S.A. ATTICA FUNDS PLC. ATTICA INSURANCE AGENCY Activity Mutual Funds Management Company and Investment Services Financial Leasing Private Equity Consulting & Training services, Project management Special Purpose Vehicle (SPV) Intermediation and Promotion of Insurance products Founded / /2005 Capital 1.97 million 9 million 0.6 million 1.32 million 12,500 GBP 0.1 million Bank s Share 58.44% (*) 99.99% 99.99% 99.99% 99.99% 99.99% Profit (before tax) - 12/2004 in (4.1) - 12/2005 in (*) Attica Consulting & Training Services holds the other 41,56% of Attiki AEDAK Capital

5 Products & Services Attica Bank, together with its subsidiaries, offers a wide range of financial services to retail customers and corporate clients. The Bank is principally active in lending to small and medium sized enterprises (SMEs) and retail consumers, and also offers a variety of investment products, mutual funds, brokerage services and bancassurance. Consumer Deposit Accounts (Current, Sight, Time, Repos, F/X) Loans (Mortgages, Consumer, Open) Credit & Debit Cards (Visa, Electron, Gift Card) Investment Products (Mutual Funds, Capital Guarantee) Bancassurance Services Standing Orders Money Transfer (Cheque processing, SWIFT transfers, foreign & domestic money orders) Import / Export (handling of shipping documents, letters of credit) Payroll and pension payment services Business Deposit Accounts (Demand, Time, Repos, F/X) Loans (Working Capital, Long Term Loans) Leasing Factoring Letters of Guarantee

6 Branch Network, Employees 8 The Bank s distribution network covers the major Greek cities and consists of: 62 branches (28 branches in or around Athens, 8 branches in Thessaloniki, and 26 branches in other main cities) ATMs (Most of the Bank's ATMs are located at the Bank's branches although 8 ATMs are independent and are located in public entities to facilitate payroll services) YEAR EMPLOYEES M

7 Attica Bank Total Assets Evolution Total Assets (in million euros) C.A.G.R= 15.98% 2, , , ,018 2, , , M 2006 C.A.G.R: Compound Average Growth Rate Figures after 2003 are subject to IFRS methodology

8 Attica Bank Loans Evolution LOANS (in million euros) C.A.G.R= 25.21% 1, , , , , M 2006 C.A.G.R: Compound Average Growth Rate Figures after 2003 are subject to IFRS methodology

9 Loans Portfolio

10 Attica Bank Deposits Evolution DEPOSITS (in million euros) C.A.G.R= 18.9% 2,278 2, , ,527 1, , M 2006 C.A.G.R: Compound Average Growth Rate Figures after 2003 are subject to IFRS methodology

11 Deposits Portfolio

12 Attica Bank Market Shares (loans, deposits) (*) MARKET SHARES (*) 1.51% 1.52% 1.50% 1.14% 1.22% 1.26% 1.11% 1.35% 1.31% 1.23% 1.32% 1.30% M 2006 LOANS DEPOSITS (*) Market defined as Total Deposits at 1) Monetary Financial Institutions including the Bank of Greece, 2) other Credit Institutions and 3) Money Market Funds

13 Corporate Governance The Bank has set up the following supervisory bodies and transparency mechanisms: Board of Directors: Membership to the Board of Directors is in line with Corporate Governance regulations. Nine out of its eleven members are non-executive, two of which are also independent. Audit Committee: The Board of Directors has appointed non-executive members to the committee, including an independent member. The committee supports the Board of Directors monitoring the adequacy and efficacy of the internal audit system, facilitating the Board of Directors communication with internal and external auditors, as well as scrutinising the quality of published financial accounts. Internal Audit Department: The department runs systematic and continuous checks on the Bank s operations on the basis of its Corporate Statute, its internal regulation and the strategies and policies set by the Board of Directors and the Bank s senior management, in accordance with the current institutional, regulatory, and legislative framework. Shareholder Registry and Corporate Disclosure Units: The Bank has set up two units to facilitate the broader investment public and its shareholder base in relation to registry matters and corporate disclosure. The units are responsible for notifying the stock market authorities on important corporate developments and insider trades, as well as maintaining the Bank s shareholder registry and servicing its shareholders and other investors.

14 Corporate Governance Risk Management Department: The Bank views risk management as a constant concern, based on precise, demanding criteria designed to restrict risk to limits considered acceptable for the business areas and markets in which it is involved, taking into account the different nature of the risks assumed and the Bank s strategy. The Risk Management Department is specifically involved in identifying, monitoring, reporting and controlling risks with a potentially significant effect on the Bank s balance sheet. These include market risks, liquidity risks, credit risks and operational risks. ALCO: ALCO is responsible for defying the strategy regarding the balance sheet items evolution and the developments in the business environment. Moreover, ALCO is accountable of reviewing the risk exposures of the Group business units and of deciding for the proper allocation of the Bank s and the Group s funds.

15 Bank s Income Statements In thousand euros (*) One off expenses: 2,500 thousand euros based on early retirement benefits and 4,000 based on dishonest and fraudulent acts by employees The Bank has doubled its provisions for bad debts to clear its loans portfolio

16 Consolidated Income Statements In thousand euros (*) One off expenses: 2,500 thousand euros based on early retirement benefits and 4,000 based on dishonest and fraudulent acts by employees The Group has doubled its provisions for bad debts to clear its loans portfolio

17 Balance Sheet Data CONSOLIDATED BALANCE SHEET (Amounts in thousands ) 30/6/ /12/ /12/2004 ASSETS Cash and balances with Central Bank Due from other financial institutions Trading portfolio Derivative financial instrum ents - assets Loans and advances to customers (after provisions) Investment portfolio Investments in subsidiaries Intangible assets Property, plant and equipment Deferred tax assets Other assets T o ta l asse ts L IA B IL IT IE S Amounts owed to other financial institutions Deposits due to customers and similar liabilities Derivative financial instruments - liabilities Issued bonds Provisions for retirement benefits Other provisions for risks and liens Deferred tax liabilities Other liabilities T o ta l lia b ilitie s EQUITY Share capital Share premium account Accumulated profit/loss Reserves Net equity of company s shareholders Minority rights T o ta l eq u ity T o ta l lia b ilitie s a n d e q u ity

18 Financial Ratios (*) Source: The Banker, Top 1000 World Banks. (*) one-off expenses excluded (**) 64.7% (EU-12) Dec.2004 NOTES - ROE, ROA are before taxes - NPL s: The Bank considers as Non Performing Loans, the loans when either interests or capital have not been paid for the period of 6 months, regardless of the collateral held.

19 Domestic Economic Environment CREDIT EXPOSURE (% of GDP) GREECE EUROZONE December 05 December 05 Business Households mortgages consumer The evolution of the Greek banking sector is very likely to be continued as it is on average still less developed compared to the other Eurozone states banking industry CREDIT EXPANSION PROSPECTS STILL STRONG % of GDP 5,00% Real GDP Growth Households Eurozone ,00% Greece Business ,00% 2,00% Business mortgages consumer 1,00% 0,00% Greece Eurozone M 2006 GREECE OUTPERFORMS EUROZONE in GDP Growth

20 Structure of the Greek Banking System The Greek banking sector has expanded rapidly in the last 10 years as a result of deregulation and the Greece s entry into the Eurozone in The deregulation of the banking sector triggered a number of consolidation initiatives. These changes have led to a high concentration of the Greek banking sector as 5 banks account for approximately 66% of the total assets, compared to an approximately 58% in 1996.

21 SWOT ANALYSIS (*) Strengths Strong links with existing customers Strong links with specific market segments and pension funds (civil engineers, the Civil Engineers and Public Works Contractors Pension Fund -TSMEDE) Flexibility Customized products that fully satisfy the customers needs Opportunities Positive outlook for the Greek banking sector Taking full advantage of the Bank s flexibility Taking full advantage of the privileged access to specific market segments and pension funds Further development in sectors where the Bank s share is still small (e.g. consumer loans and mortgages) Weaknesses Relatively low capital adequacy ratios Small branch network Rewards are not linked to performance High Cost/Income ratio Threats Concentration tendencies in the Greek banking sector, backed by foreign capital, intensify competition in all products Profit margins generally tend to decrease Increasing cross-sales Taking full advantage of alternative networks (offsite ATMs, e-banking etc.) * KPMG Report, September 2006.

22 Attica Bank: Strategy The new management that was appointed in July 2004 had as a top priority the rationalisation of the balance sheet figures by clearing the Bank s loan portfolio and the optimum allocation of capital on a group wide basis. Over the next 3 years the Bank will seek to significantly increase its market share of loans and to substantially improve the results of other key operations. The key strategies for reaching these goals are shown below: Optimization of Organizational Structure, to enhance client focus and attain execution of our strategic goals Focus on high margin segments (SMEs, Households) Turn IT infrastructure into competitive advantage: fully functional legacy system (Globus), e-banking services Implementation of CRM system Further Exploitation of Bank s Customer Base (Engineers) Cross Selling Opportunities: Bancassurance Mutual Funds Stock Exchange Transactions Effective Risk Management (Market, Credit, Operating, Liquidity) Implementation of Employee Motivation Programs & Continuous Training Reduction of the cost/income ratio by 10% in the next years, by rationalization of the cost and increasing the income Branch Network Expansion & Rationalization

23 Attica Bank Group: Strategy Top and Bottom line Growth for all Subsidiaries Exploitation of Synergies Establishment of new Subsidiaries (capturing of new opportunities) as Asset and Liability Management Creation of One Central Investment Management Centre for the Whole Group.

24 Comparative Graph: Attica Bank vs. Indexes 170,00 160,00 AtticaBank ASE Index Bank Index Stock and Indexes Prices are modified on a 100 base Historical Data 150,00 140,00 130,00 120,00 Source: Bloomberg 110, ,00 90,00 80,00 70,00 31/8/06 30/6/06 30/4/06 28/2/06 31/12/05 31/10/05 31/8/05 30/6/05 30/4/05 28/2/05 31/12/04

25 Privatisation of Attica Bank Attica Bank is is under indirect state control, as as two two of of the the Bank s main shareholders (Greek Postal Savings Bank and and the the Loans and and Consignments Fund) are are state owned organisations. The The privatisation of of Attica Bank will will be be accomplished through the the sale sale of of the the 19.10% held held by by the the Greek Postal Savings Bank and and of of the the 19.13% held held by by the the Loans and and Consignments Fund. The The privatisation of of Attica Bank is is expected to to take take place some time time after after October 2006.

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