piraeus bank group

History of the Group

2019-2017

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

In February 2019, Piraeus Bank completes the sale of shareholding (98.8%) in its subsidiary in Albania, Tirana Bank Sh.a. to Balfin Sh.p.k. and Komercijalna Banka AD.

Αcquisition of the entire stake of Societe Generale

In June 2019, Piraeus Bank announces that it has entered into a strategic partnership with Intrum for the management of Non Performing Exposures and Real Estate Owned Assets (“REOs”) through the establishment of a market-leading independent non-performing assets servicing platform in Greece.

Αcquisition of the entire stake of Societe Generale

In June 2019, Piraeus Bank announces that it has reached an agreement with an entity affiliated with Davidson Kempner Capital Management LP, for the sale of corporate Non Performing Exposures, amounting to €0.5 bn gross book value.

Αcquisition of the entire stake of Societe Generale

In June 2019, Piraeus Bank announces that it has successfully completed the book building process for the issuance of 10NC5 dated subordinated notes amounting to €400 mn under the €25 bn Euro Medium Term Note Programme.

Αcquisition of the entire stake of Societe Generale

In September 2019, Piraeus Bank completes the sale of shareholding (99.98%) in its subsidiary in Bulgaria, Piraeus Bank Bulgaria AD to Eurobank Bulgaria AD.

Αcquisition of the entire stake of Societe Generale

In September 2019, Piraeus Bank is among the 130 banks that signs the Principles for Responsible Banking.

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.
Αcquisition of the entire stake of Societe Generale
In January 2018, Piraeus Bank implements for the first time the IFRS 9 “Financial Instruments”.
Αcquisition of the entire stake of Societe Generale
In March 2018, the sale of Piraeus Bank’s subsidiary Olympic Commercial and Tourism Enterprises -which holds the Avis Rent a Car, Budget Rent a Car and Payless master franchises for Greece- is completed.
Αcquisition of the entire stake of Societe Generale
In April 2018, the sale of Piraeus Bank Beograd AD to Direktna Bank AD is completed.
Αcquisition of the entire stake of Societe Generale
In May 2018, Piraeus Bank agrees the sale of secured with real estate collateral non-performing and denounced corporate NPEs, of €1.4 bn gross book value, to Bain Capital Credit LP.
Αcquisition of the entire stake of Societe Generale
In June 2018, the sale of Piraeus Bank Romania to J.C. Flowers & Co. is completed.
Αcquisition of the entire stake of Societe Generale
In July 2018, Piraeus Bank agrees with APS Investments S.a.r.l. the sale and transfer of non-performing, denounced unsecured retail consumer and credit card loans of €0.4 bn gross book value.
Αcquisition of the entire stake of Societe Generale
In July 2018, the 4 Greek systemic banks enters into a servicing agreement with a credit institution specialized on servicing of non-performing loans, doBank SpA.
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.