History of the Group

2021-2020 New Era for Piraeus Bank	2019-2017 Market Recovery	2016-2009 Confronting the Economic Crisis	2008-2000 Domestic & International Expansion	1999-1916 The First Years

On November 2021, Piraeus Financial Holdings S.A. successfully completed the issuance of its inaugural €500 million Green Senior Preferred Bond, attracting the interest of a large number of institutional investors. With this issue, Piraeus Bank is advancing its ESG agenda, demonstrating its commitment to support the Greek economy.

In June 2021, Piraeus Financial Holdings successfully completed the issuance of its inaugural Additional Tier 1 instrument amounting to €600mn. The issue was subscribed by close to 200 institutional investors, from more than 20 countries, with a total demand reaching €2.2bn.

In late April 2021, the €1.4bn share capital increase was completed with great success, with investors’ oversubscribing by more than three times.

In January 2021, the Contingent Convertible bonds issued by the Bank during the recapitalization of 2015 and held in their entirety by the HFSF, were automatically converted into 394.4mn new ordinary shares, increasing the HFSF’s shareholding in the Bank’s share capital to 61.3%.

In January 2021, Piraeus Bank’s SA Corporate Name and Distinctive Title changed to “Piraeus Financial Holdings S.A.” and “Piraeus Financial Holdings” respectively, following the demerger of the Company by way of hive-down of its banking activity sector and its contribution into a new banking entity.

In February 2020, Piraeus Bank successfully issued a €500mn Tier 2 bond with institutional investors at a coupon of 5.50%. The bond has a maturity of 10 years and an embedded issuer call option after 5 years.

Since March 2020, Piraeus Bank acting in line with its Business Continuity Plan and responsibly as per its ESG agenda, is contributing substantially to contain the spread of COVID-19, as well as mitigate the related impact.

In September 2020, Piraeus Bank S.A. and Intrum AB signed a binding commitment letter, according to which Intrum will purchase thirty percent (30%) of the mezzanine notes of the c. €1.9bn residential mortgages NPE securitisation (“Project Phoenix”).

In September 2020, Piraeus Bank proceeded to the establishment of a Transformation & Business Strategy Unit, the responsibility of which is the planning and the successful implementation of Piraeus Bank's transformation plan and strategy, with the aim of creating additional value for its shareholders, its employees, the economy and society at large.

In October 2020, Piraeus Bank offered the incentive to employees who wished to focus on other personal and professional options to leave voluntarily, taking advantage of the benefits of the new Voluntary Exit Scheme.

In December 2020, the International Organization CDP (Carbon Disclosure Project) ranks Piraeus Bank among the leading companies that stood out internationally for their climate change management and sustainable development activity making it the only Greek company among the 270 companies with a "Leadership A" rating.

In December 2020, the corporate transformation plan was completed according to which Piraeus Group’s banking operations are hived-down to a new wholly owned banking subsidiary (Piraeus Bank S.A.). Certain non-banking sector activities remain with the parent entity of the Group (Piraeus Financial Holdings S.A.), which evolved into a financial holding company listed on the Athens Stock Exchange.