Piraeus Bank
Management
Michalis Sallas (President) Theodore Pantalakis (Vice - President )
The Piraeus Bank (Greek Τράπεζα Πειραιώς, trapeza Piraeus, Eng. Piraeus Bank ) is one of the larger credit institution in Greece. The company, based in Athens operates as a universal bank and has a significant subsidiaries in South-Eastern Europe, but also maintains smaller activities in other sectors, such as the leasing business.
The shares of PB is listed on the Athens Stock Exchange in Athex Composite Share Price Index. The bank, founded in 1916 was acquired by the state in 1975 and privatized in 1991. They evolved from a specialist bank of shipping to a private bank.
The company is listed on the Athens Stock Exchange in Athex Composite Share Price Index.
- 3.1 Egypt
- 3.2 Bulgaria
- 3.3 Ukraine
- 3.4 Marathon Bank (until June 2012)
- 4.1 Financing and Leasing
- 4.2 The Cultural Foundation
History
The bank was founded in 1916 by shipowners as Banque du Pirée as a commercial bank. Between 1969 and 1974, designed by Sir Basil Spence building of the Bank was built on the Athens stadium road. The construction hurried forward some protests by art historians as a founder temporal business house had been demolished. Under government leadership, the bank Greek Reederer was expanded into a universal bank. In 1991, the bank was privatized.
Expansion in Greece
The 1990s are characterized by the acquisition of smaller branch networks as well as the expansion of the branch network in South Eastern Europe. Were taken in Greece, the small branch networks and branches of Crédit Lyonnais, Chase Manhattan Bank and National Westminster Bank. This was followed by the acquisition of 37 percent of Macedonia - Thrace Bank from the National Bank of Greece, taking over 35 percent of the Xios Bank and the acquisition of 58 percent of the formerly state-owned ETBA Bank ( Hellenic Industrial Development Bank).
Internationalization
The expansion included the 1995 founding of the Piraeus Bank Romania and 1996, Piraeus Bank Albania as the first private sector bank in Albania. Today it has 35 branches. 1999 the Xios - bank was taken over a branch in Sofia, Bulgaria and the division bench Marathon National Bank of Astoria in New York City taken. 2000 Father Bank were taken over in Romania, previously served as a subsidiary of Budapest Bank, especially the Hungarian minority. In 2005, the Serbian Atlas Bank (now: Piraeus Bank Beograd ) and the Egyptian Commercial Bank (today: Piraeus Bank Egypt ) adopted. There followed in 2007 with the acquisitions of Arab Bank Cyprus (today: Piraeus Bank Cyprus) and 99.6 percent of the share capital of International Commerce Bank in Ukraine (since 2008: Bank of Piraeus ICB).
In the wake of the Greek financial crisis
The Piraeus Bank was hit by the Greek financial crisis. The Marathon Bank of New York was sold to the financial services company U.S. Bancorp, with the proceeds parts of ATEbank were taken, and the Geniki Bank. Similarly, the Piraeus Bank took over the Greek deposits, loans and branches and subsidiaries of the Cypriot Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank. Take place in 2013 negotiations for the acquisition of trading as Nova Bank / Millenium Greek subsidiary of the Portuguese Millennium BCP.
Pay
Had the Piraeus Bank Group in late September 2008 355 branches in Greece and 513 branches abroad. Its balance sheet total amounted to EUR 52 859 million, customer deposits of 31,597 million euros and loan amount of 38 936 million euros.
The Bank maintains representative offices in New York, London and Moscow, branch networks abroad include, among other things. :
- 80 branches in Romania
- 84 stores in Bulgaria
- 38 branches in Albania
- 38 branches in Serbia
- 54 branches in Egypt
Subsidiaries abroad (selection)
Egypt
The bank was founded in 1978 as Alexandria Kuwait International Bank and renamed the Egyptian Commercial Bank in 1997. In June 2005, the Egyptian Commercial Bank is taken over in Egypt ( today's share 95.35 per cent) and Piraeus Bank Egypt SAE renamed. End of June 2008 was a fortune of 1,668 million euros from 1,312 employees in 54 branches verwaltet.Mohamed Gamal Moharam is chairman and CEO.
Bulgaria
The Bank started in 1993 in Bulgaria. In early 2005 the Euro bank was taken in Bulgaria. The takeover lasted until March 2006. In 2006, Piraeus Bank and the Euro Bank were merged and renamed to Piraeus Bank Bulgaria AD. By mid- 2007, the retail business was taken over by ING Bank Bulgaria. Also, the leasing business Dirent was acquired by ING Bank and renamed Piraeus Best Leasing. End of June 2007, the Bank manages assets of 2,211 million euros with 984 employees in 84 branches. The bank has a market share of 7.5 percent of domestic assets. It has the following subsidiaries:
- Bulfina - Real Estate Brokerage
- Piraeus Auto Leasing Bulgaria - founded in March 2005
- Piraeus Insurance Brokerage - founded in June 2006
- Piraeus Best Leasing ( formerly Dirent - acquired in 2007 )
Ukraine
In 2007, Piraeus Bank has taken a majority stake in OJSC International Commerce Bank of Ukraine. On September 13, 2007, she claimed to have taken a share of 99.6 percent of the shares. Early 2008, the International Commerce Bank was renamed to Piraeus Bank ICB.
The Piraeus Bank ICB is represented in 11 of the 24 regions of Ukraine. Total assets amounted to 2,346 million UAH (about 224.28 million euros ), deposits of individuals UAH 312 million (about 29.83 million euros ), loan volume 1,995 million UAH (about 190.36 million euros ) and the financial result 20.2 million UAH (approx. 1.93 million euros ) ( values from 1 November 2008).
Marathon Bank (until June 2012)
In 1999, the Marathon National Bank of Astoria was taken over. The Marathon Bank was initially founded in 1989 by Greek immigrants in Astoria, a neighborhood of Queens in New York City. In January 2004, the interbank New York is rated 5 branches, especially in the districts of Brooklyn, Queens and Manhattan ( Park Avenue ) übernommen.Beide banks Bank were merged to the marathon. In autumn 2005 there was a first branch added in Fort Lee (New Jersey).
The Marathon Bank New York managed end of June 2008 a fortune of 536 million euros with 168 employees in 14 branches .. In order to finance the acquisition of Greek banks, the Marathon Bank U.S. Bancorp was founded in June 2012, the financial institution sells ..
Other activities
Financing and Leasing
In addition to traditional banking and other activities have been expanded: the Piraeus Bank is engaged in retail banking, in the financing of small and medium-sized enterprises ( SMEs), capital markets, investment banking, leasing, real estate business and in the financing of shipping.
2002 began a strategic alliance with the Dutch ING Groep, 2006 followed by the establishment of the common insurance company ING- Piraeus. In 2007, the Piraeus Bank assumes 100 percent of the car rental Avis Rent A Car in Greece for 25.5 million euros. By entering into the rental car business, considerable synergies with the leasing subsidiary Piraeus Leasing will arise in which a fleet of vehicles is applied to the value of 200 million euros.
The Cultural Foundation
The Piraeus Bank Group Cultural Foundation ( PIOP ) is the Cultural Foundation of the Bank. In addition to its own activities are supported in foreign projects. The headquarters of the Foundation is located in the Athens Plaka in a building that was built in the reign of King Otto. The Foundation also manages the Historical Archive of the Piraeus Bank.
2012, the Foundation was awarded the Europa Nostra Award.