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Piraeus Bank’s lending to small and medium enterprises becomes more accessible
12 February 2013

From January 31, 2013, 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 rates of funding in national currency were decreased.

From now on small and medium enterprises are able to attract funding according to the programs "Credit Package" and overdraft "Beneficial Interest" with flexible interest rate from 20% per annum in hryvna.

"Both proposals ultimately consider the specific needs of small and medium businesses for replenishing working capital. Moreover, overdraft “Beneficial interest” has flexible interest rate that is established depending on the continuous term of use of the overdraft/ The interest rate for overdraft use is lover, when full debt repayment is more often" – 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 70% of the property value for up to 12 months.

Overdraft "Beneficial Interest" is the ultimate choice for those business clients who need financing to cover short gaps between revenues on the current account and the need to make payments from account.

Besides the flexible interest rate and quarterly increasing of overdraft limit in case of net inflow on current account growing that are the main advantages of the credit offer, business clients can arrange an overdraft with 100% of goods as collateral thus saving money for notary certification of collateral.

Nicholas Zenzefilis, Piraeus Bank in Ukraine Member of the Board, director of treasury department: "Lending to business clients is the priority business goal for Piraeus Bank in 2013. Understanding the importance of business lending in economic growth, we offered one of the best terms on the market to replenish working capital in the form of credit lines and overdrafts with the interest rate from 20% per annum"

"Cooperation with business customers and providing them with funding is a strategic issue for Piraeus Bank in Ukraine. Given the customers’ needs to secure affordable lending, the bank decided to lower the interest rates for lending in hryvna – Nicholas Zenzefilis said. - Attracting funds to replenish working capital in the form of credit lines and overdrafts is possible with the interest rate starting from 20% per annum, which is one of the best offers on the market".

Note. Piraeus Bank Group is one of the major banking institutions of Southern and Eastern Europe. Piraeus Bank Group assets amount to EUR 78 bln, loan portfolio amounts to EUR 44 bln, and the amount of clients’ deposits is EUR 35 bln (as of 30.09.2012).

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 3.1 bln, share capital to UAH 1.628 bln, regulatory capital to UAH 910 mln as of Q4 2012.

Piraeus Bank has the highest rating of deposits reliability provided by “Credit-Rating” Agency (grade “5”; last update took place on 25.12.2012), 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}