piraeus financial holdings

History of the Group


New Era for
Piraeus Bank

Market Recovery

Confronting the Economic Crisis

Domestic & International Expansion


The First Years
Establishment of Piraeus Bank (Cyprus) Ltd.
Completion of the €1.3 bn share capital increase.
Renew of exclusive agreement with ING in the field of life bancassurance for 10 years.
Acquisition of the operating leasing company AVIS SA in Greece, Iinternational Commerce Bank in Ukraine (now Piraeus Bank ICB) and purchase agreement for the local branch network of Arab Bank in Cyprus.
Acquisition of a) Eurobank in Bulgaria (renamed as Piraeus Bank Bulgaria), b) Atlas Banka in Serbia (now Piraeus Bank Beograd) and Egyptian Commercial Bank in Egypt (now Piraeus Bank Egypt).
Merger by absorption of Devletoglou Securities SA by Sigma Securities SA (now Piraeus Securities SA).
Acquisition of Interbank NY by the Group's subsidiary Marathon Banking Corporation in New York and merger by absorption by Marathon Bank.
Merger by absorption of ETBAbank by Piraeus Bank and ΕΤΒΑ Leasing by Piraeus Leasing.
Strategic partnership with ING on activities in the field of bancassurance.
Acquisition of 58% of ETBAbank.
Creation of the integrated e-banking platform, winbank.
Merger by absorption of Macedonia-Thrace Bank and XiosBank with Piraeus Bank.