The Tender Committee of Pension Fund of Ukraine (PFU) extended the term of the agreement between the Pension Fund of Ukraine and Piraeus Bank on maintenance of current accounts of pensioners and recipients of financial aid till 1, 2013. It provides Piraeus Bank with the entitlement to continue opening and maintaining accounts for the payment of pensions and financial aid.
The decision on renewal of contracts with authorized banks is taken by a special Tender Committee of PFU that selects banks by estimating their financial condition and performance according to the NBU regulations for the past six months.
The main advantages of receiving pensions and social assistance through Piraeus Bank are a free opening and maintenance of current retirement accounts, charging 10% interest on the account’s balance as well as the free issuing of the international VISA payment card to the account. Also there are special conditions for placing funds on deposits for this group of customers: when placing funds on "Pension" deposit all pensioners receive a bonus to the current standard interest rate for the selected type of deposit: +0.5% per annum in UAH, USD or EUR.
Alexander Gnilenko, Piraeus Bank in Ukraine Deputy Director of retail banking department: "Piraeus Bank is a reliable partner of the Pension Fund of Ukraine, and always fulfills its obligations on time and in full"
"Piraeus Bank is a reliable partner of the Pension Fund of Ukraine, and always fulfills its obligations on time and in full. Extension of contract with the Pension Fund for 2012 shows a steady confidence in Piraeus Bank and its effective activity"- Alexander Gnilenko, Piraeus Bank in Ukraine Deputy Director of retail banking department said.
Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 55,6 bln and total equity of EUR 3,1 bln (as of 30.09.2011). 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. 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 07.12.2011), 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 22.12.2011). 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.
On December, 5 Piraeus Bank in Ukraine became one of the most dynamic banks of 2011 (among the III group of banking institutions according to the volume of assets) and one of the three best banking employers according to the UKRAINIAN BANKER AWARDS 2011 presented by the powerful business magazine "InvestGazeta".
Piraeus Bank in Ukraine Press Service
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