piraeus bank group


History of the Group

The First Years
1992 - 1999
Development and creation
of "critical mass"
2000 - 2003
Integration of procedures
and of informational systems
2004 - 2008
Strong Domestic
Presence International
2009 - 2011
Confronting the
economic crisis
2012 - 2014
Safeguarding the
Group’s Balance Sheet
Capital Enhancement
Recent Developments
Acquisition by absorption of the good part of Agricultural Bank of Greece (ATEbank).
Sale of Piraeus Bank’s participation (98.5%) in Marathon Banking Corporation in New York tο Investors Bancorp Inc.
Αcquisition of the entire stake of Societe Generale (99.08%) in Geniki Bank.
Acquisition of all deposits, loans, branches in Greece of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank, including the loans and deposits of their subsidiaries in Greece (leasing, factoring and Investment Bank of Greece IBG.
Acquisition of the custody, settlement and related services in Greece of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank as well as the mutual funds distribution business of Cyprus Popular Bank.

Signing of agreement for the sale of Piraeus Bank’s stake (93.27%) of share capital of ATE Bank Romania SA for a consideration price of € 10,3 mn

Piraeus Bank successfully completed the integration in its systems of ex-ATEbank the domestic operations of Bank of Cyprus, CPB and Hellenic Bank in Greece.

The acquisition of the total participation (100%) of Millennium BCP in its subsidiary Millennium Bank S.A. was concluded after receipt of all required approvals.

On June 28 2013, Piraeus Bank completed a capital increase of €8.4 bn, with the amount that was drawn by private investors reaching €1.4 bn or 20% of the €7.3 bn recapitalisation increase. The remaining amount was drawn by contribution in kind (EFSF Bonds) from the Hellenic Financial Stability Fund.
On 8 December 2013, Piraeus Bank, completed successfully the integration of systems of Millennium Bank Greece, in a single environment of the Group. The aforementioned integration comprised the fifth and final stepfollowing the systems’ integration of the ex- ATEbank (25 June 2013), and the domestic branch networks of Hellenic Bank (Jul. 14, 2013), Bank of Cyprus (Oct.27,2013) and CPB Bank (Nov.17,2013).

Capitalizing on the Bank’s strong market position

Completion of the issue and placement in the international debt capital markets of the €500 mn three year senior unsecured bond.
Completion of capital increase that raised €1.75 bn, through contribution in cash and the issuance of ordinary registered shares and the cancellation of the pre-emption rights of the existing shareholders.
Redemption of the Hellenic Republic’s Preference Shares in the amount of €750 mn (Law 3723/2008).

Piraeus Bank S.A. announces an agreement for the sale of 100% of ATE Insurance to ERGO Insurance Group, a subsidiary of Munich Re.