Piraeus Bank
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Native name
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Τράπεζα Πειραιώς Α.Ε. |
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| S.A. | |
| Traded as | : OTC Pink: |
| Industry | Financial services |
| Founded | 1916 |
| Headquarters | Athens, Greece |
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Number of locations
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931 branches (671 in Greece, 260 abroad) (Q3 2016) |
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Area served
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Key people
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| Products |
Retail banking Commercial Banking Private banking Investment banking Asset management |
| Revenue |
 €1.270 billion (6M 2016) |
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€962.38 million (6M 2016) |
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| Profit |
€624.73 million (6M 2016) |
| Total assets |
 €82.2 billion (6M 2016) |
| Total equity |
€9.928 billion (6M 2016) Common equity Tier 1 capital = 16.7% (Fully Loaded Basel III) |
| Owner | Hellenic Financial Stability Fund (26.0%) |
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Number of employees
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19.619 (Q3 2016)-Greece:14,796 Abroad:3,539, |
| Subsidiaries |
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| Website | piraeusbank |
Piraeus Bank SA (Greek: Τράπεζα Πειραιώς ΑΕ), is a Greek multinational financial services company with its headquarters in Athens, Greece. As of September 2015[update], it is the leading bank in Greece, by assets with a 30% market share in net loans (51.9 Billion Euro) and second in liabilities, 29% in deposits (34.5 Billion Euro). Piraeus Bank's stocks are listed on the Athens Stock Exchange (ATHEX) since January 1918. Its market capitalization on 8 February 2017 is 1.42 billion Euro making it the third largest by that measure.
In 2014 following the acquisitions of the "good" ATEbank and of Geniki Bank, the banking operations in Greece of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank and the acquisition of Millennium Bank (Greece), the combined total assets of the Group amounted to €82.3 bn, gross loans €68.8 bn, of which 58% are non-performing, coverage ratio 47% (Gross loans: Greece €63.3 bn and €5.5 bn abroad) and customer deposits €39.2 bn (Greece:€34.5 bn and €3.5bn abroad) as well as Central Bank funding of €35.8bn including ELA of €21.2bn (data 30/09/15). The Group employs 19,239 people, while the entire branch network numbers 931 units, with a presence in 8 countries including Greece. Piraeus Bank is in 2015 the leading Bank in Greece, in terms of assets, with 30% market share in terms of loans and second in liabilities with a 29% in terms of deposits. In terms of total assets, it is the largest bank but in term of market capitalisation it is the third largest after Alpha Bank and National Bank of Greece.
Along with its organic growth during the decades of 1990 and 2000, Piraeus Bank made a series of strategic moves aiming to establish a strong presence in the domestic market. Thus, in 1998, the Bank absorbed the activities of Chase Manhattan in Greece, took over controlling interest in Macedonia-Thrace Bank and acquired the specialised bank Credit Lyonnais Hellas. At the beginning of 1999, the Bank acquired Xiosbank and absorbed the activities of National Westminster Bank Plc in Greece. In June 2000, Piraeus Bank absorbed its two commercial banks in Greece (Macedonia-Thrace Bank and Xiosbank). In 2002, Piraeus Bank acquired the Hellenic Industrial Development Bank (ETBAbank) which was absorbed in December 2003. Petroventure Holdings Limited controls a (9,4)% of Piraeus Bank which belongs to the Vardinogiannis group of companies.PPF Group controls also a (9,4)%, and Aggelopoulos family (4,1)%.The remaining percentage is listed on the stock market.
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