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Piraeus Bank ICB has registered authorized capital increase up to UAH 742 mln
16 November 2010

On the 19th of July, 2010 Piraeus Bank ICB has finished the state registration procedures for the Bank`s authorized capital increase. Starting from July 19, 2010 the registered authorized capital of JSC «Piraeus Bank ICB» amounts to UAH 742,092 mln.

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

As it was announced previously Piraeus Bank ICB has increased the authorized capital by UAH 232 mln via private placement of shares. The item of increasing the Bank`s authorized capital was approved by the Extraordinary General Meeting of Shareholders, which took place on the 29th of April, 2010 in Kyiv. Piraeus Bank ICB has held a private placement of shares in two stages: in March, 31 – April 15, 2010 and in April 6 – 19, 2010.

Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of 55,2 bln euros and equity capital of 3,6 bln euros (as at 31.03.2010). 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.

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.

Piraeus Bank received the highest rating of deposits reliability (grade “5”) from the credit rating agency “Credit-Rating”, that shows the bank's capacity to make payments on existing deposits timely and in full.

Piraeus Bank Press Service in Ukraine
Andriy Sakhno
phone/fax: +38(044)495-8888