ATSE:TATT

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Attica Bank S.A., together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and companies in Greece.


Snowflake Analysis

High growth potential with adequate balance sheet.

Share Price & News

How has Attica Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TATT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-3.2%

TATT

-1.5%

GR Banks

0.8%

GR Market


1 Year Return

-24.0%

TATT

-50.6%

GR Banks

-14.9%

GR Market

Return vs Industry: TATT exceeded the Greek Banks industry which returned -51.3% over the past year.

Return vs Market: TATT underperformed the Greek Market which returned -15.4% over the past year.


Shareholder returns

TATTIndustryMarket
7 Day-3.2%-1.5%0.8%
30 Day11.2%10.9%8.9%
90 Day-8.8%-28.4%-2.5%
1 Year-24.0%-24.0%-50.6%-50.6%-11.4%-14.9%
3 Year-84.2%-84.2%-62.9%-62.9%-3.5%-12.5%
5 Year-98.8%-98.8%-35.9%-48.2%-67.9%-69.1%

Price Volatility Vs. Market

How volatile is Attica Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Attica Bank undervalued compared to its fair value and its price relative to the market?

21.04x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate TATT's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate TATT's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: TATT is poor value based on its PE Ratio (21x) compared to the Banks industry average (15.2x).

PE vs Market: TATT is poor value based on its PE Ratio (21x) compared to the Greek market (13.3x).


Price to Earnings Growth Ratio

PEG Ratio: TATT is good value based on its PEG Ratio (0.3x)


Price to Book Ratio

PB vs Industry: TATT is good value based on its PB Ratio (0.2x) compared to the GR Banks industry average (0.2x).


Next Steps

Future Growth

How is Attica Bank forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

74.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TATT's forecast earnings growth (74.2% per year) is above the savings rate (5.7%).

Earnings vs Market: TATT's earnings (74.2% per year) are forecast to grow faster than the Greek market (23.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TATT's revenue (32.5% per year) is forecast to grow faster than the Greek market (4.6% per year).

High Growth Revenue: TATT's revenue (32.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TATT's Return on Equity is forecast to be low in 3 years time (7.4%).


Next Steps

Past Performance

How has Attica Bank performed over the past 5 years?

60.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TATT has high quality earnings.

Growing Profit Margin: TATT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: TATT has become profitable over the past 5 years, growing earnings by 60% per year.

Accelerating Growth: TATT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: TATT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Banks industry (0.4%).


Return on Equity

High ROE: TATT's Return on Equity (1%) is considered low.


Next Steps

Financial Health

How is Attica Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: TATT's Assets to Equity ratio (7.1x) is low.

Allowance for Bad Loans: TATT has a low allowance for bad loans (33%).

Low Risk Liabilities: 89% of TATT's liabilities are made up of primarily low risk sources of funding.

Loan Level: TATT has an appropriate level of Loans to Assets ratio (44%).

Low Risk Deposits: TATT's Loans to Deposits ratio (58%) is appropriate.

Level of Bad Loans: TATT has a high level of bad loans (54.3%).


Next Steps

Dividend

What is Attica Bank's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TATT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate TATT's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TATT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TATT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: TATT is not paying a notable dividend for the Greek market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TATT's dividend in 3 years as they are not forecast to pay a notable one for the Greek market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Theodoros Pantalakis (65yo)

3.75yrs

Tenure

Mr. Theodoros N. Pantalakis serves as Managing Director, General Manager and Member of the Board of Directors of Attica Wealth Management. He has been the Chief Executive Officer of Attica Bank S.A. since  ...


Leadership Team

NamePositionTenureCompensationOwnership
Theodoros Pantalakis
CEO & Director3.75yrsno datano data
Nikolaos Koutsogiannis
Chief Financial Officer2.5yrsno datano data
Stefanos Korodimos
Chief Information Officer & Director of IT Department9.42yrsno datano data
Polyxeni Triantafyllou
Directorno datano datano data
Maria Varela
Director of Legal Department and Secretaryno datano datano data
Michail Andriotis
Head of Corporate & Retail Banking Department and Deputy General Managerno datano datano data
Ioannis Anninos
Head of Credit Department and Deputy General Managerno datano datano data
Ioannis Tsakirakis
Deputy CEO & Director3.75yrsno datano data
Georgios Triantafyllopoulos
Head of the Transformation Officeno datano datano data
Antonios Bartholomew
Deputy CEO & Executive Member of the Board0.92yrno datano data

3.8yrs

Average Tenure

Experienced Management: TATT's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Theodoros Pantalakis
CEO & Director3.75yrsno datano data
Ioannis Tsakirakis
Deputy CEO & Director3.75yrsno datano data
Antonios Bartholomew
Deputy CEO & Executive Member of the Board0.92yrno datano data
Dimitrios Tzanninis
Independent Non-Executive Member4yrsno datano data
Konstantinos Makedos
Vice Chairman of the Board0.92yrno datano data
Stavros Papagiannopoulos
Independent Non-Executive Member2.5yrsno datano data
Hariton Kyriazis
Independent Non-Executive Member0.92yrno datano data
Andreas Taprandzis
Independent Non Executive Member0.92yrno datano data
Georgios Doukidis
Independent Non Executive Member0.92yrno datano data
Konstantinos Mitropoulos
Chairman of the Board0.92yrno datano data

0.9yrs

Average Tenure

Experienced Board: TATT's board of directors are not considered experienced ( 0.9 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Attica Bank S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Attica Bank S.A.
  • Ticker: TATT
  • Exchange: ATSE
  • Founded: 1925
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €105.166m
  • Shares outstanding: 461.25m
  • Website: https://www.atticabank.gr

Number of Employees


Location

  • Attica Bank S.A.
  • 23, Omirou Street
  • Athens
  • 106 72
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TATTATSE (The Athens Stock Exchange)EUR0.30(POST CON)GREURNo data
TATTATSE (The Athens Stock Exchange)YesCommon SharesGREURJan 1992
0RCULSE (London Stock Exchange)YesCommon SharesGBEURJan 1992

Biography

Attica Bank S.A., together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and companies in Greece. The company operates through Retail Banking, Corporate Banking, and Capital Management/Treasury segments. It offers savings, current, sight deposit, sight, and tiered interest rate sight interest bearing accounts, as well as repos and time deposits. The company also provides home, consumer, green, long and short term, and special purpose business development loans; and loans to buy/renovate business premises and to finance non-materialized investment plans. In addition, it offers credit, debit, and prepaid cards; letters of guarantee; POS terminals; car insurance products; mutual funds and margin accounts; and contribution payment, foreign exchange, factoring, share trading, and cash management and treasury services. Further, the company provides intermediate services on mutual fund unit disposals; and portfolio and asset management services. Additionally, it invests in, develops, and values real estate properties, as well as provides technical assistance for real estate properties. As of December, 31, 2017, the company operated 55 branches. Attica Bank S.A. was founded in 1925 and is headquartered in Athens, Greece. Attica Bank S.A. is the subsidiary of EFKA pension fund. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/04 21:31
End of Day Share Price2020/06/04 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.