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Deposits profitability increased by 1-2 percentage points for up to 17-18% per annum depending on the type and term of deposit

From November 3, 2011, Piraeus Bank in Ukraine offers its customers the higher rates for all types of deposits in hryvna:

  • “STANDARD” deposit with payment of interests every month or at the end of the fixed term for a tenor of 1 to 12 months in hryvna - up to 16.5% per annum.
  • Deposit "TAKE IT HIGHER" with monthly growing rate and possibility of early withdrawal with preservation of accrued interest. Deposits can be placed for a tenor of 3 to 12 months. The rate for placing a deposit for 12 months is 12.5% per annum for the first month and 18% for the last month
  • Deposit 'INTEREST UPFRONT" with interest payment in advance in the day of the deposit agreement conclusion, for a tenor of 3 months (with interest rate 13% per annum) and 6 months (with interest rate 14% per annum)
  • "PENSION" deposit with interest rate that is 0.5% higher than interest rate for standard deposits and payment of interests every month or at the end of the deposit term, with tenor from 1 to 12 months and interest rate up to 17% per annum

The bank has also increased interest rates on savings accounts in hryvna. Now, customers can place their surplus funds on accounts "Free access" with interest rate of 8% per annum (interest is calculated monthly on the account’s balance) and “Free” with interest rate of 9% per annum.

"Following the market trends, in October 2011Piraeus Bank, as well as many other players on the banking market, has revised the interest rates on deposit products towards their increase. At present, the profitability of our deposit products is generally competitive, but in comparison with many foreign banks we have one of the best offers on the market. These actions correspond to the bank’s strategic goals till the end of this year - an active increase of the loan portfolio and deposit resource base, primarily due to the work with individuals,"- Alexander Gnilenko, Piraeus Bank in Ukraine deputy director of retail business Piraeus Bank in Ukraine, said .

Alexander Gnilenko, Piraeus Bank in Ukraine deputy director of retail business Piraeus Bank in Ukraine:

Alexander Gnilenko, Piraeus Bank in Ukraine deputy director of retail business Piraeus Bank in Ukraine: "At present, the profitability of our deposit products is generally competitive, but in comparison with many foreign banks we have one of the best offers on the market."

One of the key advantages of Piraeus Bank deposits is reliability. Due to the recent increase of its share capital by UAH 785 mln, Piraeus Bank in Ukraine has one of the highest reliability rating among the banking institutions operating in Ukraine. So, as of 01.11.2011 the bank has the capital adequacy ratio amounting to 21.23%, which is more than 2 times higher than the relevant NBU standard, the instant liquidity ratio amounting to 144% (that is more than 7 times higher than the NBU standard) the current liquidity ratio amounting to 145% (in 3.6 times higher than the NBU standard). "Today, Piraeus Bank in Ukraine is very well capitalized," - Vyacheslav Koval, Piraeus Bank in Ukraine acting chairman of the board, said.

Since March 2009, Piraeus Bank in Ukraine maintains the highest level of deposits reliability (rate "5") provided by an independent credit agency “Credit-Rating” Agency "Credit Rating" (the last confirmation held on 4, 2011). The Bank is also a member of the Fund of Guaranteeing the Deposits of Individuals. 

Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 57.7 bln and total equity of EUR 3.5 bln (as of 30.06.2011). 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. Business lending and mortgages are the bank’s priorities.
Piraeus Bank is a member of Association of Ukrainian Banks, Forum of Leading International Financial institutions (FLIFI) 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.

The Bank has «uaA» long-term credit rating with the forecast "stable" provided by “Credit-Rating” (updated on June, 21 2011). This long-term rating belongs to the group of investment ratings that is one of the highest ratings given to banks operating on the Ukrainian market.

Piraeus Bank in Ukraine Press Service
Andriy Sakhno
phone/fax: +38(044)495-8888
e-mail: asakhno(at)piraeusbank.ua

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