Since the beginning of October, Piraeus Bank has increased the interest rates on term deposits for business customers. Rates on deposits for legal entities in national currency increased by an average of 1% per annum, and the increase in rates are applied to both short- and long-term deposits. Thus, the rates on deposits for business clients in Piraeus Bank can receive up to 13.5% per annum in hryvna, and for deposits in U.S. dollars and euros - up to 6.5% per annum.
"Competitive interest rates and the reliability of deposits in the bank that is part of an international banking group with assets over EUR 57 bln and regulatory capital of EUR 3.5 bln, allow us to gradually increase the number of clients - Dmytro Musienko, Piraeus Bank in Ukraine member of the board, director of the branch network department, said. - Seasons of business activity growth of our customers and, consequently, the need to increase the amount of borrowed funds for business lending allows us to offer more attractive terms for deposits of legal entities".
Dmitry Musiyenko, Piraeus Bank in Ukarine member of the board, director of branch network department: "Due to the increase of interest rates on term deposits for legal entities, business clients can earn up to 13.5% per annum on temporarily surplus funds."
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.
Piraeus Bank has the highest rating of deposits reliability provided by “Credit-Rating” Agency (grade “5”; last update took place on 04.10.2011), that shows the bank's capacity to make payments on existing deposits timely and in full. 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.
On September, 13 2011, the Securities and Stock Market State Commission has registered the Piraeus Bank’s share capital increase by UAH 785 mio to UAH 1,628 bln. Due to the share capital increase, JSC “Piraeus Bank ICB” has one of the highest reliability level among the banking institutions operating in Ukraine.
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