Piraeus Bank Group was ranked 160 in TOP-500 of banking brands - the rating conducted by Financial Times, The Banker business edition. In its report The Banker stated that the most significant improvement on international level was performed by Greek banks.
The aggregate brand valuation of Greek banks rose a huge 101% between 2013 and 2014 to $2.1bn. In general brand values in this year’s Top 500 Banking Brands ranking have increased by 14% compared to 2013, reflecting the continuing recovery of global banks from the financial crisis.
Mr. Kyriakopoulos, Head of International Banking of Piraeus Bank Group and Country Manager Director of Piraeus Bank in Ukraine: “Representing the Group in Ukraine as well as at international level I must say that the significant improvement can be observed on both levels. The Group long-term deposit and senior debt ratings have been upgraded by Moody’s in the end of 2013. Fitch and S&P have also assigned a higher credit rating to Greece. In Ukraine local rating agencies provide the Piraeus Bank Ukraine also with the highest credit ratings. For Greece it seems that the hard times are behind. However, we should remember the lessons of the past and understand that there is still room for improvement”.
Mr. Kyriakopoulos, Head of International Banking of Piraeus Bank Group and Country Manager Director of Piraeus Bank in Ukraine: "Representing the Group in Ukraine as well as at international level I must say that the significant improvement can be observed on both levels"
Overall, developed world lenders had a good year. European institutions fared particularly well, reflecting the fact that their earnings projections and the perception of their riskiness – both important elements of their brand valuation – have improved as the Eurozone crisis starts abating and with many of them having increased their capital levels and cleansed their balance sheets of bad assets. “The brand values very much mirror banks’ share prices and market capitalizations,” says Bryn Anderson, chief operating officer of Brand Finance, the consultancy that did the research for the ranking.
What can be expected to happen over the next year? Mr. Anderson believes that banks increasingly recognize the need to enhance the value of their brands. “Over the past year, banks have really been focusing on the customer,” he says. “They are beginning to understand that their brand is a valuable asset that needs to be managed. With the focus on customer satisfaction and competitiveness of the products they are offering, I think we will see brand strengths grow.”
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