piraeus bank group


History of the Group


Market Recovery and New Era for Piraeus Bank

Confronting the Economic Crisis

Domestic & International Expansion


Creation of Critical Mass

The First Years
Setting up of the London Branch.
Agreement on the acquisition of Pater Credit Bank in Romania (integrated into the Group in April 2000 and was renamed to Piraeus Bank Romania SA).
Absorption of the assets and liabilities of National Westminster Bank in Greece.
Agreement on the acquisition of a majority stake of Xiosbank (completion at the beginning of 1999).
Acquisition of Macedonia-Thrace Bank and Credit Lyonnais Hellas.
Acquisition of Sigma Securities SA.
Absorption of assets and liabilities of Chase Manhattan Bank in Athens.
Establishment of Tirana Bank I.B.C. in Albania.
Agreement on the acquisition of a 56% stake in Marathon National Bank of New York (completion in mid 1999).
Establishment of Piraeus Leasing SA, Piraeus Mutual Funds SA and Piraeus Insurance Agency SA.
Beginning of operations in Bulgaria (now Piraeus Bank Bulgaria).
Year of restructuring, reform and growth.