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Proton Bank is the first nationalized bank in Greece after the crisis. The Ministry of Finance announced that Proton had come to the financial stability fund the government established a year ago with funds from the International Monetary Fund and European organizations to give financial assistance to troubled institutions in the banking sector. It avhas at its disposal about € 15 billion which is intended to support banks in case of need. The price of being bailed out is through a partial nationalization within the participation rate of the fund and the state holds a golden share in the value of the aid. After rescuing the bank's finances, the state may sell its share and dispose of the institution.

The Ministry of Finance’s communication reads that all deposits of individuals, banks and public bodies and healthy bank assets as a portfolio of loans and securities are transferred to the new institution named New Proton Bank. The new bank is extremely stable and fully capitalized with capital adequacy ratio of 10.6% according to the most conservative estimates of the fund for financial stability, and it can have access to liquidity from the Euro system through the Bank of Greece. Head of the new transition board (bridge bank) of Proton Bank is Stathis Papageorgiou, a former CEO of FBB Bank. The new bank is free from the problems of the past and is in perfect health to continue normal operations in order to offer shares for sale as soon as possible, concludes the Ministry of Finance.

Proton’s old licence was withdrawn from the Athens Stock Exchange and Dimitris Delipetros was appointed as liquidator. According to the available information, loans of around € 400 million which cannot be redeemed will remain in the old Proton and will be investigated by the liquidator with the assistance of the Bank of Greece. They are expected to be paid, or for additional security to be found for them.
 
Meanwhile, it became clear that Lavrentios Lavrentiadis, who is the founder of the troubled institution, filled the € 51 million "hole" in the balance of the old Proton. He had been accused of embezzling the amount that he subsequently calmly returned in the presence of four prosecutors. The prosecutors conclusion named the companies Αlapis ΑΒΕΕ, Εlfe, Αcolab, ΜΑΚ S.A., Exelixi S.Α., Εscado Ιnvestments LΤD, Balis Ηome Car S.A. and Ρrovet S as having been involved in the embezzlment of € 51 million from Ρroton Βank from the beginning of August this year. Ρroton Βank had granted loans to them and according to the accuser, they have a direct link with Lavrentios Lavrentiadis. Doubts are circulating that the damage and possible abuse Lavrentiadis has caused to the financial institution significantly exceed the € 51 million he returned.

At the beginning of the month, a pledge was put on Lavrentiadis’ property until the investigation is completed. The Organization to combat money-laundering froze the accounts of eight people who are involved in the Proton case. The first is the owner Lavrentios Lavrentiadis, followed by former vice president and CEO Antonis Atavasoglou. The list also includes former Deputy CEO Anastasios Papaspilios, former Deputy CEO Dimitris Saramandis, former CEO Trifonas Kolinazas, CEO Dionisis Bitaris and two former executive board members, Gramatikis Arvanitis and Smaragda Liarmakopoulou.