Piraeus Bank in Ukraine is part of the international banking group Piraeus, founded in Greece in 1916. This year, the Group marks 110 years of operation. To celebrate the anniversary, a special display dedicated to the history and achievements of Piraeus appeared on the iconic Nasdaq MarketSite tower in Times Square, New York. 

Founded by a group of shipowners in the port city of Piraeus, the bank has grown into one of Greece’s leading financial institutions with an international presence. 

One of the most significant chapters in Piraeus' recent history was the major transformation undertaken after the Greek sovereign debt crisis, which placed severe pressure on the country’s economy and banking sector throughout the 2010s. The bank cleaned up its loan portfolio, reduced costs, improved operational efficiency, and returned to sustainable profitability. 

As a result, reported net profit rose from €788 million in 2023 to €1.07 billion in 2024 and remained at around the same level in 2025, demonstrating a return to stable profitability. In 2025, Piraeus also provided a record €13.3 billion in new loans to businesses and households in Greece. 

This progress strengthened Piraeus’ financial position and restored the confidence of international investors. In 2024, the Greek state sold its remaining stake in Piraeus, returning the Group to full private ownership. These developments marked the completion of a major phase in the bank’s turnaround and its transition to a new period of profitable growth. 

Piraeus’ transformation has also received international recognition. In 2024, the financial magazine Euromoney recognised Piraeus with The World’s Best Bank Transformation award. In 2025, Piraeus was also named Best Bank in Greece at The Banker’s Bank of the Year Awards, one of the financial industry’s leading international distinctions. 

More recently, the bank’s recovery and management transformation became the subject of a Harvard Business School case study, “Piraeus: Back from the Brink.” Together, these recognitions highlight not only the financial results achieved, but also the effectiveness of the decisions that enabled the bank to complete a complex restructuring and return to sustainable growth.  

Piraeus Bank Ukraine’s operations are grounded in two levels of experience: nearly 20 years in the Ukrainian market and the 110-year history of the Piraeus Group. This enables our team to have a deep understanding of the needs of Ukrainian customers while also drawing on the Group’s international expertise, management standards and support. 

For the bank’s clients — from individuals and small and medium-sized enterprises to international companies operating in Ukraine — this means working with a bank with foreign capital and a local team that understands the realities of the Ukrainian market, while also benefiting from the experience and capabilities of an international financial group. Piraeus' transformation further demonstrates the Group's ability to respond effectively to major changes and maintain stability in the long term.