Piraeus Bank

Piraeus Bank is currently the largest financial organization in Greece. Founded in 1916, Piraeus Bank went through a period of private-ownership and management, while in 1975 it passed to state-ownership until 1991. Since its privatization in December 1991, Piraeus Bank Group has presented significant growth in size and activities.

Along with organic growth, Piraeus Bank has pursued a series of strategic initiatives with a goal of establishing a strong presence in the Greek market and expanding its business mainly in Southeastern Europe. Thus, in the period of 1997-1999, the Bank absorbed the activities of Chase Manhattan, Credit Lyonnais Hellas and National Westminster Bank Plc in Greece. The Bank also acquired Macedonia Thrace Bank and Xiosbank which were absorbed in 2000. In 2002, Piraeus Bank acquired the Hellenic Industrial Development Bank (ETBAbank) which was absorbed a year later.

Most recently, Piraeus Bank realized four significant strategic acquisitions that upgraded the Bank’s position and presence in the banking sector in Greece: in July 2012 the Bank acquired the “healthy” part of ATEbank, in December Geniki Bank, in March 2013 all banking operations in Greece of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank, and in June 2013 Piraeus Bank acquired Millennium Bank Greece. As at 31 March 2013, Piraeus Bank is the leading Bank in Greece with a 30% market share in loans and 29% in deposits, with the largest distribution network of 1,306 branches nationwide, servicing approximately 5.3 million customers.

Today, Piraeus Bank leads a group of companies covering all financial and banking activities (universal bank). Piraeus Bank possesses particular know-how in the areas of small and medium-sized enterprises (SMEs), agri-banking, retail banking, green banking and leasing. The Bank’s e-banking platform, winbank, is considered as the most technologically advanced, innovative and user-friendly platform in the country, having received a series of significant awards, both domestically and internationally, reflecting the high level of its services.