piraeus bank group

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History of the Group

2018-2017

Market Recovery and New Era for Piraeus Bank
2016-2009

Confronting the Economic Crisis
2008-2000

Domestic & International Expansion

1999-1992

Creation of Critical Mass
1991-1916

The First Years
Αcquisition of the entire stake of Societe Generale

Piraeus Bank launches a Voluntary Exit Program with incentives offered to its employees as the Bank seeks to combine adjustment moves to the new conditions in the banking market, offering opportunities to focus on other personal choices.

Αcquisition of the entire stake of Societe Generale
Piraeus Bank of Greece joins as a new member the Global Federation of competitiveness Councils (GFCC) The GFCC is a network of leaders and organizations committed to the implementation of competitiveness strategies to drive innovation, productivity and prosperity. Founded in 2010, the GFCC is currently represented on the ground in over 35 countries across six continents.
Piraeus Bank’s Board of Directors on its meeting of 8 March, 2017, unanimously elected Mr. Christos Megalou as the new CEO of the Bank. Mr Megalou is a highly experienced international banker. The vast majority of his professional course was with global financial institutions based mainly in London. Mr Megalou has served as CEO of Eurobank Ergasias SA, one of the four systemic banks in Greece. Previously, he held senior management positions in investment banking at Credit Suisse Group.
Αcquisition of the entire stake of Societe Generale

On 24 May 2017, Piraeus Bank announces its strategic plan for 2020, entitled “Agenda 2020” having the following key goals and objectives: a) reduce NPLs and NPEs to an internationally accepted level b) create a profitable and sustainable business model, with attractive returns for shareholders over the medium-term c) maintain a strong capital base d) re-establish wholesale market funding access. “Agenda 2020” establishes a clear set of strategic priorities that, in conjunction with focused and effective execution, provides a clear and visible path to a full recovery for Piraeus Bank.

Αcquisition of the entire stake of Societe Generale
In late August 2017, Piraeus Bank announces that the Bancassurance agreement with NN Hellas, has been renewed starting 1 January 2018 for 10 years with a further 5-year extension possibility. Piraeus Bank, will continue to offer on an exclusive basis the Life and health products of NN Hellas to its customers.
Αcquisition of the entire stake of Societe Generale

Piraeus Bank - the leading Bank in Greece - in conjunction with UnionPay International - the Chinese financial services organization with more than 6.1 billion credit, debit and prepaid cards worldwide - introduces QuickPass to Southern Europe for the first time.

Αcquisition of the entire stake of Societe Generale
In September 2017 Piraeus Bank announces that it has entered into an agreement to sell its Serbian banking and leasing operations of Piraeus Bank Beograd to Direktna Banka A.D., a local Serbian banking group that has been strongly growing its presence in the market.
Αcquisition of the entire stake of Societe Generale
In October Piraeus Bank issues a 5year €0.5bn covered bond be launched under Piraeus Bank’s €10bn Covered Bond Program. This represented the first covered bond issuance by Piraeus Bank and the first time that supranational financial organizations have invested in covered bonds issued by Greek banks since the beginning of the financial crisis.
Αcquisition of the entire stake of Societe Generale
In November, Piraeus Bank announces the sale of its subsidiary Olympic Commercial and Tourism Enterprises (Olympic), which holds the Avis Rent a Car, Budget Rent a Car and Payless master franchises for Greece.
Αcquisition of the entire stake of Societe Generale
Piraeus Bank launches the “Horizon Project” in November 2017, which regards a specific zero cost based strategic project, where specific interventions are designed and carefully planned for Piraeus Bank’s operating model across four main pillars: customer reach, internal delivery model, digitalization of core processes and building a market leading procurement.
Αcquisition of the entire stake of Societe Generale

In December, Piraeus Bank announces that it has entered into an agreement with J.C. Flowers & Co. for the sale of its entire shareholding stake in Piraeus Bank Romania its banking subsidiary in Romania.

Αcquisition of the entire stake of Societe Generale
Piraeus Bank is the 1st Greek Bank to launch the innovative site Properties4sale.gr, achieving the sale of REO assets through online & publicly accessible auctions. Piraeus has concluded successfully 3 auction campaigns in 2017 and is planning to further enhance its e-auctions in 2018.
Αcquisition of the entire stake of Societe Generale
Piraeus Bank launches a new Corporate Culture Development program aiming at reinvigorating its new corporate values, determining actions and way of doing business, based on accountability, meritocracy and transparency.
Αcquisition of the entire stake of Societe Generale
Piraeus Bank has completed a total (100%) revamp of its Board of Directors, enhancing corporate governance that encompasses leadership and international financial expertise, while it has gone through a major restructuring of its top management structure, reinvigorating its senior Executive Team and reviewing thoroughly all its internal control functions and policies.