Piraeus Bank remains operational activity in regular regime

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Piraeus Bank remains operational activity in regular regime

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Piraeus Bank remains operational activity in regular regime

06 July 2015

Piraeus Bank ICB – is and independent legal entity, Ukrainian bank with foreign capital, which carries out its operations in strict accordance with the Ukrainian legislation. The Bank, like other Ukrainiane banks, is under supervision of the NBU, which closely monitors the bank’s development and always is ready to take all the necessary measures, if necessary any.
The level of liquidity and capital adequacy of the bank is much higher than the minimum requirements of the National Bank and have not changed in recent time as a result of instability in Greece. In particular, the instant liquidity of the bank in Ukraine as of July 3, 2015 equaled 300%, while the level of the minimum standard set by the National Bank, is 20%, that is at least 15 times less than the actual liquidity of the bank.
Capital control measures that were put into force in Greece do not affect Piraeus Bank in Ukraine. The bank’s investors and their funds are protected, as the liquidity of the bank is completely independent from Greece.
Banking systems of different countries are independent, so all payments are carried out in regular regime.

As the chairman of Piraeus Bank in Ukraine Sergey Naumov stated: “The default probability in Greece does not influence the activity of Piraeus Bank in Ukraine in any extent. Piraeus Bank ICB is the Ukrainian bank with paid foreign capital. This means, that all operations and transactions are localized and are carrying out in accordance with the Ukrainian legislation and NBU policy, which regulates the actions of all banks’ shareholders in the country, in particular foreign shareholders too”.

According to the banker’s statement, the bank continues operating in the normal mode, serving clients, performing all their obligations and payments on time and in full volume. “Following the June 30 inflow of deposits in the national currency was fixed”, - said S.Naumov.

Earlier, the press service of Piraeus Bank reported that according to the national media: Greek default will not have a direct impact on the subsidiaries of the Greek banks in Ukraine.

Piraeus Bank remains operational activity in regular regime

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