From February 1, 2012, business clients of Piraeus Bank in Ukraine can take the advantages of favorable price offers for credit products of the bank as long as the interest rate of funding in national currency was decreased by 2% per annum.

From now on small and medium enterprises are able to attract funding according to the programs "Credit Package" and "Smart Overdraft" at 20% per annum in hryvna. "Both proposals ultimately consider the specific needs of small and medium businesses for replenishing working capital" – Pavel Grusha, Piraeus Bank in Ukraine manager of SME division, said.

"Credit Package" is an optimal combination of convenient forms of financing: credit line and overdraft, and the customer is able to choose their correlation; funding is available of up to 80% of the property value for up to 12 months.

"Smart Overdraft" provides funding to cover short gaps between revenues on the current account and the need to make payments from account. Thus, the requirements for collateral are very flexible: Absence of monthly repayment obligations, overdraft granted in the amount of up to 60% of monthly net inflows on current account. In addition, all receipts on the current account will automatically reduce credit debt. Real estate, movable property and 100% of goods are accepted as collateral.

Pavel Grusha, Piraeus Bank in Ukraine manager of SME division: "One can attract funds to replenish working capital in the form of credit lines and overdrafts with the interest rate of 20% per annum, which is one of the best offers on the market"

"Cooperation with business customers and providing them with funding is a priority for Piraeus Bank in Ukraine. Given the stabilization of the value of UAH resources in the interbank market and customers’ needs to attract cheaper credits, the bank decided to lower interest rates for lending in hryvna – Pavel Grusha said. - Currently attracting funds to replenish working capital in the form of credit lines and overdrafts is possible with the interest rate of 20% per annum, which is one of the best offers on the market".

Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 55,6 bln and total equity of EUR 3,1 bln (as of 30.09.2011). 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. 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 28.12.2011), 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 22.12.2011). 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 December, 5 Piraeus Bank in Ukraine became one of the most dynamic banks of 2011 (among the III group of banking institutions according to the volume of assets) and one of the three best banking employers according to the UKRAINIAN BANKER AWARDS 2011 presented by the powerful business magazine "InvestGazeta".

Piraeus Bank in Ukraine Press Service
Andriy Sakhno
cell.: +38(067)214-4081
e-mail: asakhno@piraeusbank.ua