Piraeus Bank Group
Founded in 1916, Piraeus Bank operated as a private credit institution for many decades, while it went through a state ownership for the period 1975-1991 until it was privatized in December 1991. Since then and through organic growth and a series of successful acquisitions it has rapidly grown in size and activities, representing today the leading Bank in Greece with 30% market share in terms of loans and 29% in terms of deposits. With presence in 10 counties mainly is South East Europe and Eastern Mediterranean, Cyprus and Egypt, Piraeus Bank Group offers a full range of financial products and services to approximately 7mn customers.
In June 2013, the Bank was recapitalized following PSI implementation, achieving the highest private participation among the Greek systemic banks, in both absolute and relative terms. In addition in April 2014, Piraeus Bank successfully completed a €1.75 bn capital increase. The new shares were offered to institutional and other special investors internationally and to investors in Greece, both displaying great response, demonstrating their trust towards the prospects of Piraeus Bank and the Greek economy. This capital increase has further strengthened Piraeus’ Common Equity Tier-1 ratio at 14.5%, according to the new Basel III framework.
Piraeus Bank (Cyprus) Ltd
A wholly owned subsidiary of Piraeus Bank S.A., Piraeus Bank Cyprus is licensed by The Central Bank of Cyprus and made a dynamic entrance to the Cypriot market in 2008 through the acquisition of the local Arab Bank operations. Despite the currently adverse conditions in Cyprus, the bank continues to have strong capital adequacy and liquidity.
With a network of 20 branches and business units all over Cyprus and more than 300 employees, the Bank offers a full range of banking and investment services, including: International Banking, Corporate Banking, Retail Banking, Wealth Management, Custody Services, Treasury Sales, Trade Finance, and Escrow Services.
www.piraeusbankgroup.com
www.piraeusbank.com.cy
www.piraeusbank.com.eg