Piraeus Bank in Ukraine is rated B4 according to the banks’ FUDI deposit index. It indicates the bank’s high reliability and the average market rate of return on deposits (in UAH, USD and EUR). Piraeus Bank follows state-owned "Oschadbank" and "Ukreximbank" in terms of the reliability indicators.

"Piraeus Bank reliability is rated at a high level (B - high reliability). At the same time deposit interest rates (in UAH, USD and EUR) are on an average market level, - said Andriy Konoplyastiy, the Ukrainian Credit Rating Agency (UCRA) research director. - Capitalization and liquidity are maintained at a high level, the amount of funds raised from individuals is minor. While the quality of assets is not high, the Bank’s reserves are sufficient to cover potential losses from lending. The financial institution’s activity as of three quarters of 2012 is profitable."

"This assessment confirms that the Piraeus Bank in Ukraine is minimally sensitive to adverse business, financial and economic factors", - says Vyacheslav Koval, Piraeus Bank in Ukraine Acting Chairman of the Board. “On the other hand, in our opinion, the rating reflects the balanced approach the bank uses during active operations, as well as the bank’s orientation to fulfill its obligations to customers. Present on the European market since 1916, Piraeus Bank considers reputation to be one of its most valuable assets."

Vyacheslav Koval, Piraeus Bank in Ukraine Acting Chairman of the Board: "The rating reflects the balanced approach the bank uses during active operations, as well as the bank’s orientation to fulfill its obligations to customers"

The bank deposits return as well as the reliability of the participating banks’ data was updated on November 15, 2012. Please find more information on the method of calculating financial institutions’ reliability at the link.

Note on the index. FUDI deposit index is designed to assess the reliability and profitability of Ukrainian banks’ deposits. The index is based on the banks’ financial criteria and the comparison of the bank deposits’ profitability level with an average one. Ukrainian individuals’ deposits rates index (for 12-months’ period) is taken as a common level. It is calculated by Thomson Reuters and published on the NBU website. FUDI index was developed by Ukrainian Credit Rating Agency and Finance.UA website.

Note. Piraeus Bank Group is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 77,2 bln, with credit portfolio of EUR 46 bln and loan portfolio of EUR 37 bln (after absorbing the good part of Greek Agricultural Bank ATEbank and 99,08% of Greek Geniki Bank’s total stake, as of 19.10.2012). Established in 1916, Piraeus Bank today is presented in 10 countries.

In Ukraine Piraeus Bank is established since 2007. The Bank is a member of Fund of Guaranteeing the Deposits of Individuals (license #25).

Net assets of Piraeus Bank in Ukraine amount to UAH 3.5 bln, share capital to UAH 1.628 bln, regulatory capital to UAH 894,7 mln as of 3Q2012.

Piraeus Bank has the highest rating of deposits reliability provided by “Credit-Rating” Agency (grade “5”; last update took place on 23.10.2012), that shows the bank's capacity to make payments on existing deposits timely and in full.

The Bank is a member of Forum of Leading International Financial institutions (FLIFI), 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 in Ukraine Press Service
Kateryna Kalynovska
cell: +38(067)688-62-14
e-mail: kkalynovska{at}piraeusbank.ua