phone 0 800 30 888 0CALL CENTER
0 800 30 888 0
Piraeus Bank in Ukraine
Press Service

Home   >   Press center   >   News and press releases   >   Bank News

Press center

The absorption of the Greek Agricultural Bank (ATEbank) took place on July, 27, 2012

Piraeus Bank became the winner among the Greek leading banking institutions for absorption of the healthy assets and liabilities of Agricultural Bank of Greece (ATEbank). The absorption took place on Friday, 27 July 2012. Piraeus Bank paid EUR 95 mn in cash consideration.

Piraeus Bank acquired selected healthy ATEbank assets and liabilities: total assets for EUR 14.7 bln and total liabilities for EUR 21.4 bln. The Greek Financial Stability Fund (HFSF) will cover the funding gap of EUR 6.7 bln between the assets and liabilities. Regarding the fulfillment of the capital needs that arise from the transferred assets, the HFSF will contribute to Piraeus Bank an amount of EUR 500 mn, so that the total capital adequacy ratio will be above the minimum required level (8%).

Piraeus Bank also acquired all the ATEbank branches with commitment to save all working places. After absorption the ATEbank branches will preserve the current commercial brand name.

The assets and liabilities that were acquired from Piraeus Bank consist of the following:

  • EUR 21.4 bln in liabilities, of which EUR14.3 bln customer deposits, EUR 6.7 bln interbank liabilities and EUR 0.4 bln other liabilities
  • EUR 14.7 bln in assets, of which EUR 10.6 bln net loans and 4.2 bln other assets.

As a result of the agreement Piraeus Bank became the 2nd largest banking group in Greece in terms of assets (EUR 74 bln) and the biggest Greek banking group in terms of branches’ number (814 in Greece and 1 230 worldwide). Customer deposits amount to EUR 35 bn and net loans EUR 44 bln. The Group employs 17 000 people and is operating in 10 countries.

With the acquisition of the mentioned assets and liabilities Piraeus Bank Group gains a leading position in the banking operations in Greece with market share of 19% in deposits and 16% in loans, improves its loans to deposits ratio to 124% and improves the structure of both loans (26% mortgage loans) and deposits (28% savings).

Piraeus Bank in Ukraine Press Service
Kateryna Kalynovska
cell.: +38(067)688-62-14
e-mail: kkalynovska{at}


Office hours 13.05


Recover PIN code easily!


Important information for customers holding payment card accounts!

2014-2021 Piraeus Bank
Bank license
Extract from the state register of banks -000024 dated 16.08.2021
calls within Ukraine are free
+38 (044) 495-88-90
for calls from abroad