Piraeus Bank became the winner among the Greek leading banking institutions for absorption of the healthy assets and liabilities of Agricultural Bank of Greece (ATEbank). The absorption took place on Friday, 27 July 2012. Piraeus Bank paid EUR 95 mn in cash consideration.
Piraeus Bank acquired selected healthy ATEbank assets and liabilities: total assets for EUR 14.7 bln and total liabilities for EUR 21.4 bln. The Greek Financial Stability Fund (HFSF) will cover the funding gap of EUR 6.7 bln between the assets and liabilities. Regarding the fulfillment of the capital needs that arise from the transferred assets, the HFSF will contribute to Piraeus Bank an amount of EUR 500 mn, so that the total capital adequacy ratio will be above the minimum required level (8%).
Piraeus Bank also acquired all the ATEbank branches with commitment to save all working places. After absorption the ATEbank branches will preserve the current commercial brand name.
The assets and liabilities that were acquired from Piraeus Bank consist of the following:
As a result of the agreement Piraeus Bank became the 2nd largest banking group in Greece in terms of assets (EUR 74 bln) and the biggest Greek banking group in terms of branches’ number (814 in Greece and 1 230 worldwide). Customer deposits amount to EUR 35 bn and net loans EUR 44 bln. The Group employs 17 000 people and is operating in 10 countries.
With the acquisition of the mentioned assets and liabilities Piraeus Bank Group gains a leading position in the banking operations in Greece with market share of 19% in deposits and 16% in loans, improves its loans to deposits ratio to 124% and improves the structure of both loans (26% mortgage loans) and deposits (28% savings).
Piraeus Bank in Ukraine Press Service
Dear customers, starting today, August 16, 2022, all cardholders of Visa cards from Piraeus Bank have the opportunity to use the Apple Pay service...
Dear customers - cardholders of Piraeus Bank cards issued to accounts in UAH, please consider the following information:...
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.