Public joint-stock company “Piraeus Bank ICB” announces that on September, 13 2011 The Securities and Stock Market State Commission has registered the Bank’s share capital increase by UAH 785 mio. Therefore the registered share capital of JSC “Piraeus Bank ICB” grew up to UAH 1.628 bln.
“Increase of the share capital of Piraeus Bank in Ukraine was effected with the aim of bank’s liquidity increase, growth of financial stability,creation of provisions for non-performing loans and for the further development of the banking institution, - Yannis Kyriakopoulos, head of the Supervisory Board of Piraeus Bank ICB, said . – Increase of the registered share capital of the Bank almost in twice proves the commitment of Piraeus Bank Group to the Ukrainian market and consistency of the long-term plans for the further development of Piraeus Bank in Ukraine”.
Due to the share capital increase JSC “Piraeus Bank ICB” has one of the highest reliability level among the banking institutions operating in Ukraine. In particular, Bank has the capital adequacy ratio amounting to 24,13%, that is 2,5 times more than the relevant NBU standard, the instant liquidity ratio amounting to 115,7% (that is 6 times higher than the NBU standard), and the current liquidity ratio amounting to 140,5% (3,5 times higher than the NBU standard) as of 22.09.2011.
“Today Piraeus Bank in Ukraine is very well capitalized, more than enough, I would say, – Vyacheslav Koval, Piraeus Bank in Ukraine acting Chairman of the Management Board, said. – For instance, funds invested in the Bank by shareholders (UAH 1,628 bln) significantly exceed the amount of funds obtained due to our clients (UAH 1,342 bln as of 22.09.2011). From the one hand, it increases the confidence of our clients, and from the other hand gives the great opportunities for the Bank’s loan portfolio increase. Starting from the beginning of 2011, Bank granted UAH 489 mio of new loans to corporate clients, small and medium enterprises and private individuals. We expect this figure to grow significantly till the end of the year”.
Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 57.7 bln and total equity of EUR 3.5 bln (as of 30.06.2011). 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. Business lending and mortgages are the bank’s priorities.
Piraeus Bank is a member of Association of Ukrainian Banks, Forum of Leading International Financial institutions (FLIFI) 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.
Piraeus Bank has the highest rating of deposits reliability provided by “Credit-Rating” Agency (grade “5”; last update took place on 06.09.2011), that shows the bank's capacity to make payments on existing deposits timely and in full. The Bank has «uaA» long-term credit rating with the forecast "stable" provided by “Credit-Rating” (updated on June, 21 2011). This long-term rating belongs to the group of investment ratings that is one of the highest ratings given to banks operating on the Ukrainian market.
Piraeus Bank Press Service in Ukraine
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