Piraeus Bank ICB is going to increase authorized capital by UAH 110 mln via closed (private) placement of shares. The issue of increasing the Bank`s authorized capital is on the agenda of the Extraordinary General Shareholders Meeting, which will take place on 6th of February 2009 in Kiev (Ukraine).

Piraeus Bank ICB is planning to hold a closed (private) placement of shares during 11-31th of March 2009. Upon finishing the registration procedures the registered authorized capital will amount to UAH 510 mln.

According to Yannis Kyriakopoulos, Piraeus Bank ICB Chairman of the Supervisory Board and Country Manager, the aim of authorized capital increasing is to enhance the capital base of the Bank, to strengthen liquidity and to maintain further development of Piraeus Bank activities in Ukraine.

Note. Piraeus Bank S.A. is one of the major banking institutions of Southern and Eastern Europe with assets of  52,86 bln (as of 01.10.2008). Established in 1916, Piraeus Bank today has a regional network of more than 860 branches and offices 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 9 banks and 21 companies covering the entire range of financial activities and operations on local and international markets. The Group's personnel are more than 14000 employees.

OJSC "Piraeus Bank ICB" is a legal successor of OJSC "International Commerce Bank". On 13th of September 2007 Piraeus Bank S.A. announced about completion of the process of acquisition of 99,6% of International Commerce Bank share capital. The bank name change into Piraeus Bank ICB was announced in the beginning of 2008. As of 01.01.2009 Piraeus Bank S.A. owns 99,9482% shares of Piraeus Bank ICB.

The regional network of Piraeus Bank ICB covers 11 regions of Ukraine.

As of 01.11.2008 the net assets of the bank make UAH 2 346 mln, deposits of individuals make about UAH 312 mln, credit and investment portfolio makes UAH 1 995 mln, financial result UAH 20,2 mln.

Piraeus Bank ICB is a member of Association of Ukrainian Banks and a participant of the Fund of Guaranteeing the Deposits of Individuals.

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