Dnipropetrovsk. April, 29 2010. – The work with small and medium businesses is one of the priority directions of Piraeus Bank in Ukraine. This was one of the main messages of Mr. Yannis Kyriakopoulos, Chairman of Supervisory Board/Piraeus Bank Group Country Manager for Ukraine on the meeting with VIP clients in the new branch of Piraeus Bank. He also mentioned: “Piraeus Bank Group has traditionally strong positions in small and medium business segment, which contributes to almost the half of the Group’s loan portfolio”.

Chairman of Supervisory Board of the Bank has informed that for successful work with Ukrainian business the bank has established all prerequisites: the European quality standards of the client service have been implemented, new banking products that are in demand in Ukraine have been launched. For example, yesterday the new VISA debit chip card that is connected to a high interest account up to 12% annualy was launched in Ukraine. Apart from that Piraeus Bank plans to undertake large scale investments into the infrastructure of the bank in Ukraine.

“In 2010 Piraeus Bank Group invests into the share capital of Piraeus Bank in Ukraine 30 mln euro as a result of which the capital of the Bank will have almost 70% increase. The first tranche of 20 mln euro or 232 mln hryvnas we received yesterday, while 10 mln more is planned to be received in the 3rd quarter of 2010. Therefore upon the state registration the share capital of Piraeus Bank in Ukraine will exceed 850 mln hryvnas”, Mr. Yannis Kyriakopoulos informed. According to him additional capitalization will be directed onto the development of the bank’s activity in Ukraine and gradual increase of credit portfolio. At present the credit portfolio of the bank exceeds 230 mln euro, while the general credit portfolio of Piraeus Bank Group is 37,7 bln euro.

According to the Board Member, Branch Network Director of Piraeus Bank in Ukraine Dmytro Musienko the bank proposes the best tariff terms for small and medium businesses. According to the terms of the tariff package “Easy Start” the private entrepreneurs and legal entities with annual turnover under 100 mln hrivnas can have a free opening of an account, free account maintenance for six months and free installation and usage of internet banking system Piraeus Online Banking.

Besides, he noted that a clear priority for Piraeus Bank in Ukraine is the bank`s reliability and high liquidity, so the bank pays particular attention to credit risk assessment which has increased significantly under the crisis. Today the bank has a very cautious approach to financing new projects but always ready to provide clients with the necessary support. Piraeus Bank top management and business representatives of Dnipropetrovsk region discussed what financial programs are needed for business first, what duration and lending rates are more acceptable today, how business can guarantee credit repayment and other topical issues for the clients.

During a meeting with VIP clients in a new office in Dnipropetrovsk Yannis Kyriakopoulos also stressed that the strategic goal of the bank is to provide high quality banking sevices in Ukraine. This will allow us to get into the consideration set of banks viewed by clients as trustworthy financial partner while selecting a bank for servicing. To achieve this goal Piraeus Bank in Ukraine, in addition to increasing the authorized capital and the launch of new highly competitive products, is optimizing its branch network. "Last year Piraeus Bank opened 10 new branches in Ukraine. The newest among them is Dnipropetrovsk branch, where we are now. At the moment new branch premises is being renovated in the heart of Kiev, which is opening in 1,5 months. In the next 2 years we will relocate about 20 branches, which have location or footage which does not meet our requirements", Dmitry Musienko said during a meeting with VIP-clients in the new Piraeus Bank branch in Dnepropetrovsk. Currently the bank's regional network includes 54 branches.

Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 53.4 bln and total equity of EUR 3.62 bln (as at 31.12.2009). Established in 1916, Piraeus Bank today has presence in Greece, Ukraine, Romania, Bulgaria, Albania, Egypt, Serbia, Cyprus as well as in the world financial centres of New York and London. Piraeus Bank S.A. leads Piraeus Bank Group, which consists of 10 banks and 21 companies covering the entire range of financial services.

In Ukraine Piraeus Bank provides a full range of banking services to individuals, small and medium enterprises and corporate clients.

Piraeus Bank is a member of Association of Ukrainian Banks, participant of the Fund of Guaranteeing the Deposits of Individuals. The Bank is also included in the list of banks authorized by the Pension Fund of Ukraine to make payments of pensions and financial assistance.

On the 26th of February, 2010 independent credit rating agency “Credit-Rating” has confirmed the highest rating of deposits reliability of Piraeus Bank provided in March 2009 (grade “5”), that shows the bank's capacity to make payments on existing deposits timely and in full.


Piraeus Bank Press Service in Ukraine
Andriy Sakhno
phone/fax: +38(044)495-8888
e-mail: asakhno@piraeusbank.ua