Piraeus Bank in Ukraine launched a new overdraft "Unsecured" with ability to attract up to UAH 500 thousand to finance current and incidental expenses of the enterprise.

Since August 2013 small and medium enterprises can apply for an overdraft "Unsecured" with tenor up to 12 months and interest rate that is fixed and will not be changed during the term of loan agreement.

«Understanding the needs of business clients in short-term credit resources, we offered a new product - overdraft "Unsecured" with an interest rate from 22% per annum, - Pavel Grusha, Piraeus Bank in Ukraine manager of SME Division, said. - With the new product a company will be able to receive a limit up to UAH 500 thousand to make payments from current account only under financial surety from the owners of a legal entity. In addition, the bank provides a quick answer concerning financing using simplified financial analysis of the company».

Pavel Grusha, Piraeus Bank in Ukraine manager of SME division: "Understanding the needs of business clients in short-term credit resources, we offered a new product - overdraft "Unsecured" with an interest rate from 22% per annum"

The new overdraft "Unsecured" - is the best solution for those business clients who need quick and simple funds attraction in amount up to 40% of net income on current accounts even in other banks.

For customers who require covering short gaps in the working capital replenishment, Piraeus Bank offers updated overdraft "Beneficial interest"; funding is available in amount up to 75% of net income on the current account. From now the client can choose the type of interest rate: fixed rate starting from 20% which is valid for the whole term of loan agreement or differentiated rate starting from 17%, that depends on frequency of full repayment of the overdraft.

Besides the possibility to choose the type of interest rate that is the main advantage of the updated overdraft "Beneficial interest", the bank uses simplified financial analysis that allows to speed up the decision taking on the financing of up to UAH 1 mln. Furthermore absence of the obligatory monthly full debt payment allows repaying of the overdraft outstanding amount at the end of the loan agreement term.

For detailed information about loans to SME please call the call centre: 0 800 30 888 0 (calls from fixed line phones within Ukraine are free of charge).

Note. Piraeus Bank Group is one of the major banking institutions of Southern and Eastern Europe. Piraeus Group's pro-forma total assets amount to €99 bn, net loans to €65 bn and customer deposits to €56 bn (at the end of March 2013).

Piraeus Bank entered the Ukrainian market in 2007.

Piraeus Bank has the highest rating of deposits reliability provided by "Credit-Rating" Agency (grade "5"as of latest rating of 23.07.2013).

The Bank is authorized by the Pension Fund of Ukraine to make payments of pensions and financial assistance. The Bank is a member of Fund of Guaranteeing the Deposits of Individuals and Forum of Leading International Financial institutions (FLIFI).

Piraeus Bank in Ukraine Press Service
tel: +38(044)495-88-88
e-mail: press@piraeusbank.ua