Headquartered in Athens, Greece, with approximately 19,000 employees in eight countries in southeast Europe, Piraeus Bank Group offers a full range of financial products and services to approximately 6 million customers.
Piraeus Bank today leads a group of companies covering all financial activities in the Greek market. It possesses particular know-how in the areas of small and medium-sized enterprises, agricultural banking, consumer and mortgage credit, green banking and leasing. These services are offered through a nationwide network of c.700 branches and c.1,800 ATMs and through the innovative electronic banking network of winbank.
Piraeus has an international presence consisting of 280 branches mainly in southeast Europe. It operates in Romania through Piraeus Bank Romania (120 branches), in Bulgaria through Piraeus Bank Bulgaria (75 branches), in Albania through Tirana Bank (39 branches), in Serbia through Piraeus Bank Beograd (26 branches), in Ukraine through Piraeus Bank ICB (18 branches), and in London and Frankfurt through a branch of Piraeus Bank each.
Our course
Along with organic growth during the 1990s and 2000s, Piraeus Bank has made a series of strategic acquisitions and mergers aiming to establish a strong presence in the domestic market. In 1998, it absorbed the activities of Chase Manhattan in Greece, took over controlling interest in Macedonia-Thrace Bank and acquired the specialized bank Credit Lyonnais Hellas. At the beginning of 1999, the bank acquired Xiosbank and absorbed the activities of National Westminster Bank Plc in Greece. In June 2000, it absorbed its two commercial banks in Greece (Macedonia-Thrace Bank and Xiosbank). In 2002, Piraeus Bank acquired the Hellenic Industrial Development Bank (ETBAbank), which was absorbed in December 2003.
“The group’s total assets amounted to €88bn, with net loans of €51bn and customer deposits of €39bn, on December 31, 2015.”
In the context of implementing its strategy for expansion in southeast Europe and eastern Mediterranean markets, Piraeus acquired Pater Credit Bank in Romania (renamed Piraeus Bank Romania) in 2000. In 2005, it acquired the Bulgarian Eurobank (renamed Piraeus Βank Bulgaria), strengthening its 12-year presence in Bulgaria. Furthermore, in 2005, Piraeus entered the Serbian market by acquiring Atlas Bank (renamed Piraeus Bank Beograd). Finally, in 2007, it expanded its international presence in the Ukraine by acquiring the International Commerce Bank (renamed Piraeus Bank ICB) and in Cyprus by establishing Piraeus Bank Cyprus through the acquisition of the Arab Bank Cypriot network.
In 2012, Piraeus Bank acquired the “good” part of Agricultural Bank (selected assets and liabilities) and Geniki Bank, a former subsidiary of Societe Generale. In March 2013, it acquired the Greek banking operations of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank. In June 2013, it acquired Millennium Bank Greece, a subsidiary of BCP. In April 2015, it acquired part of Panellinia Bank’s healthy assets. All of these transactions represented important steps towards the restructuring of the Greek banking system, in which Piraeus Bank has participated from the very beginning as a core pillar.
Τhe recent recapitalization of Piraeus Bank increased the group’s total equity to €10.0bn at end-December 2015. The group’s Common Equity Tier-1 ratio reached 17.8% at the end of 2015 (pro-forma data), while the fully loaded Basel III Common Equity Tier-1 ratio reached 16.6%. The current capital ratios render Piraeus Bank amongst the strongest capitalized banks in Europe.
What we stand for
Piraeus Bank Group possesses a well-trained and experienced workforce. The group aims to develop an organization in which each employee works collectively and with dedication, capitalizing on diversity and creating value in every action. In the human resources selection and utilization process, objective criteria and methodology are incorporated with specific emphasis on equal opportunities and respect for people. The group invests in the continuous training and development of its c.19,000 staff with innovative measures and methods. At the same time, the group has created a work environment where innovation, the exchange of ideas, and creativity are supported and team spirit is promoted. Through concrete evaluation systems, the group ensures that the performance of its people are aligned with the group’s objectives, and it has created the necessary framework for recognition and reward both at an individual and team level. Open communication and staff support is enhanced in many different areas and different aspects of life, ensuring an organization that is both “human and dynamic”.
” The Bank has rapidly grown in size and scope, and it is now the leading bank in Greece with 30% market share in loans and 27% in deposits. “
Piraeus Bank Group, combining business development and social responsibility, systematically endorses its relations with its social partners through specific actions, while special emphasis is placed on the protection of the natural environment and preservation of cultural heritage. Piraeus has built significant expertise and market share in the field of green banking with dedicated branches and products, addressing both business and individual needs. At the same time, the Piraeus Bank Group Cultural Foundation carries out culture-related activities, which are part of the Piraeus Bank Group’s corporate social responsibility, and operates seven thematic museums around Greece, conveying to rural regions cultural activities of high standards effectively and efficiently.
Being the leading bank in Greece, Piraeus Bank takes initiatives that support sound business plans and the evolution of the Greek economy into a new model of sustainable development.
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