Despite the positive assessment by the Hellenic Financial Stability Fund, I have reached certain decisions that I would like to share with you today. I have completed a course of 25 years as Chairman of the Bank and 30 years in the development and management of banking and other financial institutions.
In these 25 years in Piraeus Bank, an exceptional task has been accomplished. Starting from December 1991 with 200 employees and a market share of 0.1% of the Greek banking market, we created a Bank with a significant size, in excess of 20,000 employees and a market share close to 30%. We have played a crucial role in the restructuring of the banking system, we developed innovative products and services, we supported the business community and contributed to the economic growth. Electronic banking, green banking and agri-banking are only a few examples.
Nevertheless, it is obvious that, after the completion of the last recapitalization, a new corporate and economic environment has emerged for the banking system and also for Piraeus Bank. In this new environment, the experience of senior executives, but mostly the dynamism of younger management is required, who will bear the responsibility to lead the Bank in this new era.
Considering the recent developments, I have informed competent authorities from the beginning of 2016 of my intention not to participate in the new organizational structure of the Group.
Subsequently, following the discussion and proposal of the BoD members, the BoD unanimously decided to award to Mr. Sallas the title of Chairman Emeritus of Piraeus Group, recognizing his contribution in the development of the Group, in which he has been the founder and Chairman for over 25 years.
On July 21st, 2022, the National Bank of Ukraine introduced changes on the transactions and operations carried out abroad (outside of the territory of Ukraine) on Hryvnia (UAH) cards and accounts. Those new limitations are only related to operations, carried out abroad from UAH cards and accounts, whilst foreign currency cards and accounts have not been impacted from those restrictions. In detail:
UAH12.500 equivalent in foreign currency per 7 days from the first time of withdrawal. The limit is not calculated cumulatively.
UAH80.000 equivalent per calendar month for transactions at POS terminals (physical presence of card or NFC technology on phone), purchases on the internet secured by full 3DSecure* and recurring payments**.
UAH20.000 equivalent per calendar month for the rest type of online transactions.