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The share capital of the Bank will rise up to UAH 742 mln till the end of April 2010
Piraeus Bank ICB is going to increase share capital by UAH 232 mln via closed (private) placement of shares. The decision of increasing the Bank`s share capital has been made on the Extraordinary General Shareholders Meeting, which took place on the 3rd of February 2010 in Kiev (Ukraine).
According to the Decision Protocol ¹1/02 dated 03.02.2010 shares will be placed in total amount of 23 209 222 ordinary registered kind of existing nominal value of UAH 10,00 each of an aggregate nominal value UAH 232 092 220. Piraeus Bank ICB is being held a closed (private) placement of shares among the shareholders during April 2010. Placement of shares will increase equity stake of the main shareholder Piraeus Bank S.A. which is holding 99,95% bank`s equity now.
Yannis Kyriakopoulos, Chairman of Supervisory Board of JSC "Piraeus Bank ICB",
Piraeus Bank Country Manager for Ukraine:
«The money we get will be directed to replenish current assets, to enhance the financial stability of the Bank and to maintain further development of Piraeus Bank activities in Ukraine»
According to Yannis Kyriakopoulos, Piraeus Bank ICB Chairman of the Supervisory Board and Piraeus Bank Country Manager for Ukraine, placement of shares is holding to increase authorized capital of the bank. Upon finishing the registration procedures the registered authorized capital of Piraeus Bank ICB will grow by 45,5% and amount to UAH 742,092 mln. «The money we get will be directed to replenish current assets, to enhance the financial stability of the Bank and to maintain further development of Piraeus Bank activities in Ukraine», Mr. Kyriakopoulos said.
Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 52.3 bln and total equity of EUR 3.75 bln (as at 30.09.2009). Established in 1916, Piraeus Bank today has presence in Greece, Ukraine, Romania, Bulgaria, Albania, Egypt, Serbia, Cyprus as well as in the world financial centres of New York and London. Piraeus Bank S.A. leads Piraeus Bank Group, which consists of 10 banks and 21 companies covering the entire range of financial services.
In Ukraine Piraeus Bank provides a full range of banking services to individuals, small and medium enterprises and corporate clients. The regional network of Piraeus Bank ICB covers 14 regions of Ukraine.
Piraeus Bank is a member of Association of Ukrainian Banks, participant of the Fund of Guaranteeing the Deposits of Individuals. The Bank is also included in the list of banks authorized by the Pension Fund of Ukraine to make payments of pensions and financial assistance.
On the 30th of March, 2010 independent credit rating agency “Credit-Rating” has confirmed the highest rating of deposits reliability of Piraeus Bank provided in March 2009 (grade “5”), that shows the bank's capacity to make payments on existing deposits timely and in full.
Piraeus Bank Press Service in Ukraine