WHO WE ARE
Headquartered in Athens and with approximately 10.9 thousand employees, Piraeus Bank offers a full range of financial products and services to 5.5mn customers in Greece. The Group's total assets stood at €60.4bn on 31.03.2020.
Piraeus Bank Group in Greece/ Μarch 2020
Piraeus Bank was founded in 1916. Today it represents the leading Bank in Greece with 30% market share in terms of customer loans and 29% in terms of customer deposits.
The Bank is committed to play a leading role in the Greek economy, actively supporting economic activity and extroversion through specialized solutions and high-level services to its customers.
Piraeus Bank’s main targets are: (a) enhancement of revenue sources and operational efficiency to generate sustainable profitability, (b) improvement of asset quality, through the consistent delivery of the 2021 non-performing exposures (NPE) reduction plan, (c) further strengthening of capital buffers, and (d) expanding lending to support the country’s economic recovery.
With its return to profitability in 2019, the recovering balance sheet, and a determination for strong corporate governance and internal control system, Piraeus Bank have laid the foundations for sustainable growth.
The Bank’s effort to strengthen its capital position continued in Q1 2020 with the successful issuance of a new €0,5 bn Tier 2 in mid-February. At the end of March 2020, the pro-forma Group’s total capital ratio and pro-forma Group’s Common Equity Tier 1 (CET-1) ratio stood at 15.2% and 13.2% respectively, adjusted for held-for-sale portfolios.
WHAT WE DO
Piraeus Bank leads a group of companies covering all financial activities in the Greek market.
Today, we rank first in business financing, with a market share of 33% and balances of c.€30bn. Piraeus Bank possesses particular expertise in the areas of medium-sized and small enterprises, agricultural banking, consumer and mortgage credit, green banking, capital markets and investment banking, as well as leasing and factoring.
These services are offered through a nation-wide network of 526 branches and 1,890 ATMs of the Bank in Greece, as well as through its innovative digital banking platform, winbank.
Piraeus Bank strives to differentiate itself with the provision of superior standards of customer service by adopting the most modern international innovations and technological solutions. In this context, an automated electronic branch, known as "e-branch", was set up and has been operating since 2016. This is a completely new concept for the Greek market. Piraeus Bank currently operates 10 e-branches in which transactions are carried out with speed, convenience and security.
The coronavirus is proving to be an unprecedented health emergency for societies around the world, which is mutating into a significant economic shock to the economies. At Piraeus Bank, we are responding to this crisis with a strong sense of responsibility and determination, promoting a spirit of cooperation and taking actions in order to support all our stakeholders.
We acknowledge that this is a challenging period for both households and businesses and the economy overall. As a result, consistent with our corporate responsibility strategy and aiming at reducing the implications of the coronavirus emergency, we have undertaken timely measures to support customers, both individuals and businesses, with a focus on SMEs, in collaboration with the official sector, institutions, organizations and strategic partners.
Piraeus Bank has taken action early on to support its clients and the economy in accordance with the measures taken by the Greek and EU authorities to alleviate the economic consequences of the COVID-19 pandemic crisis.
We remain confident that, as soon as these extraordinary events subside, the economy will revert to a healthy growth. Piraeus Bank remains committed to fully leverage on its capacity to generate value, to serve and support customers, shareholders and employees.
WHAT WE STAND FOR
Piraeus Bank has established a unified culture based on the principles of accountability, meritocracy and transparency, aiming to be a pillar of stability for the Greek economy, to fuel growth and to promote innovation. Focusing on having a positive and lasting footprint in society, with benefits for our customers, our people, our shareholders and society, Piraeus Bank is committed to constantly create value, to challenge the frontiers, to enthuse its customers and to build relationships of trust.
As Piraeus Bank acknowledges the basic role held by human resources in the achievement of its corporate strategic goals and the management of challenges, it invests in the creation of strong relations with its employees, constantly improving the working environment and minimizing risks. It works towards a modern working environment that promotes open communication, high performance, and personal development for its people. At the same time, the Group makes sure to establish and implement policies that promote issues of ethics, trust, devotion, team spirit and acceptance of diversity in the workplace. Piraeus Bank employs approximately 10,900 employees, being one of the largest employers in Greece.
Piraeus Bank is committed to including social, environmental, and cultural aspects into its business practices and assumes initiatives over and above the legal obligations with the aim of enhancing social welfare and sustainable development.
In the framework of its activities and operations, the Group promotes regular communication with stakeholders, in order to fulfill their needs and expectations and to promptly and effectively respond to issues concerning them. The protection of their personal data, the use of new technologies to better serve their needs, the respect for human rights, the accessibility to financial services and the respect for the environment and culture as factors contributing to sustainable development, as well as issues related to corporate culture and corporate governance, value creation for the society and risk management, are strategic priorities for the Group.
Piraeus Bank is the only Greek bank to actively participate in the shaping of the global Principles for Responsible Banking, along with other 29 banks from around the world, members of the United Nations Environment Programme Finance Initiative – UNEP FI. The Principles set the global standard for what it means to be a responsible bank and will ensure that banks create value for both their shareholders and society. They provide the first global framework that guides the integration of sustainability across all business areas of a bank, from strategy to product portfolio management and transactions.
The goals for sustainable development, social contribution, and responsible banking behavior are fundamental components of Piraeus’ strategy, and resonate well with its business model and shared values of accountability, meritocracy and transparency.