2016 - 2009 | Piraeus Bank

Piraeus Bank’s has repaid the last remaining guarantees of the Hellenic Republic (Pillar II), issued under the framework of L. 3723/2008, used for liquidity purposes. Upon redemption of Pillar II bonds, Piraeus Bank no longer had any reliance on the measures of L. 3723/2008, and therefore was no longer subject to the restrictions of the support scheme, which, among others, required the appointment of a Greek State representative on its Board of Directors.

Piraeus Bank announces the agreement regarding the sale of shares in its subsidiary in Cyprus, Piraeus Bank Cyprus Ltd.

In November, Piraeus Bank’s Board of Directors elected Mr George Handjinicolaou as new Chairman. Mr Handjinicolaou is a highly experienced international business leader in the financial services sector. His career spans 33 years, the vast majority of which was spent at global financial institutions based in London and New York and the International Swaps and Derivatives Association (ISDA) in London.

Piraeus Bank announces the transfer of 100% of the share capital of ATE Insurance to Ergo International AG, a subsidiary of Munich Re, following the fulfilment of all the conditions under the relevant agreement.

Piraeus Bank becomes the first bank to launch into the Greek market a new model of a fully automated e-branch offering a range of full-service banking transactions and a unique banking experience.

Piraeus Bank announced that it has entered into a definitive agreement with Al Ahli Bank of Kuwait K.S.C.P. to dispose its stake (98.5%) in Piraeus Bank Egypt S.A.E., its Egyptian subsidiary, subject to Central Bank of Egypt and other regulatory approvals in Egypt, Greece and Kuwait, including the Hellenic Financial Stability Fund.

Αcquisition of the entire stake of Societe Generale

Piraeus Bank S.A. acquires the “good” part of Panellinia Bank S.A. The “good” assets and liabilities of Panellinia absorbed by Piraeus Bank refer to the acquisition perimeter identified by the BoG and comprise €645 mn in liabilities, of which €574 mn customer deposits, €372 mn in assets, of which €280 mn net loans, 26 branches and 163 employees (based on 31 December 2014 data).

Capitalizing on the Bank’s strong market position

Completion of the issue and placement in the international debt capital markets of the €500 mn three year senior unsecured bond.
Completion of capital increase that raised €1.75 bn, through contribution in cash and the issuance of ordinary registered shares and the cancellation of the pre-emption rights of the existing shareholders.

Redemption of the Hellenic Republic’s Preference Shares in the amount of €750 mn (Law 3723/2008).

Piraeus Bank S.A. announces an agreement for the sale of 100% of ATE Insurance to ERGO Insurance Group, a subsidiary of Munich Re.

On 8 December 2013, Piraeus Bank, completed successfully the integration of systems of Millennium Bank Greece, in a single environment of the Group. The aforementioned integration comprised the fifth and final stepfollowing the systems’ integration of the ex- ATEbank (25 June 2013), and the domestic branch networks of Hellenic Bank (Jul. 14, 2013), Bank of Cyprus (Oct.27,2013) and CPB Bank (Nov.17,2013).

On June 28 2013, Piraeus Bank completed a capital increase of €8.4 bn, with the amount that was drawn by private investors reaching €1.4 bn or 20% of the €7.3 bn recapitalisation increase. The remaining amount was drawn by contribution in kind (EFSF Bonds) from the Hellenic Financial Stability Fund.

The acquisition of the total participation (100%) of Millennium BCP in its subsidiary Millennium Bank S.A. was concluded after receipt of all required approvals.

Acquisition of the custody, settlement and related services in Greece of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank as well as the mutual funds distribution business of Cyprus Popular Bank.

Signing of agreement for the sale of Piraeus Bank’s stake (93.27%) of share capital of ATE Bank Romania SA for a consideration price of € 10,3 mn

Acquisition of all deposits, loans, branches in Greece of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank, including the loans and deposits of their subsidiaries in Greece (leasing, factoring and Investment Bank of Greece IBG.

Piraeus Bank successfully completed the integration in its systems of ex-ATEbank the domestic operations of Bank of Cyprus, CPB and Hellenic Bank in Greece.

Αcquisition of the entire stake of Societe Generale (99.08%) in Geniki Bank.

Sale of Piraeus Bank’s participation (98.5%) in Marathon Banking Corporation in New York tο Investors Bancorp Inc.

Acquisition by absorption of the good part of Agricultural Bank of Greece (ATEbank).

Completion of 20 years from the privatisation of Piraeus Bank.

Share capital increase by € 380 mn with the issuance of preferred non - voting shares of a nominal value in favor of the Greek State by way of in-kind contribution in accordance with the provisions of law 3723/2008.

Completion of the €0.8 bn share capital increase.

Development and launching of Winbank Direct, the first online channel for the delivery of banking services in Greece which is addressed to all banks' customers.

Agreement with Ergo Insurance - subsidiary of Ergo International in Greece and member of the German insurance Group Munich Re - for the implementation of a 10-year exclusive cooperation in the general insurance field.

Share capital increase by € 370 mn with the issuance of preferred non - voting shares in favor of the Greek State by way of in-kind contribution in accordance with the provisions of law 3723/2008 re "providing enhanced liquidity to the economy to address the consequences of the international financial crisis".

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History of the Group