On the 13th of October, 2009 Piraeus Bank ICB has finished the state registration procedures for OJSC «Piraeus Bank ICB» authorized capital increase. Starting from October 13, 2009 the registered authorized capital of OJSC «Piraeus Bank ICB» amounts to UAH 510 mln.

According to Yannis Kyriakopoulos, Piraeus Bank ICB Chairman of the Supervisory Board and Country Manager, the aim of authorized capital increase is to enhance the capital base of the Bank, to strengthen liquidity and to maintain further development of Piraeus Bank activities in Ukraine.

As it was announced previously Piraeus Bank ICB has increased the authorized capital by UAH 110 mln via closed (private) placement of shares. The issue of increasing the Bank`s authorized capital was taken by the Extraordinary General Shareholders Meeting, which took place on the 6th of February, 2009 in Kyiv. Piraeus Bank ICB has held a closed placement of shares during 11-31th of March 2009.

Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 54 bln and total equity of EUR 3.3 bln (as of 30.06.2009). 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 business and to corporate clients. The regional network of Piraeus Bank ICB covers 14 regions of Ukraine.

Piraeus Bank is a member of Association of Ukrainian Banks, participant of the Fund of Guaranteeing the Deposits of Individuals. The Bank also included in the list of banks authorized by the Pension Fund of Ukraine to make payments of pensions and financial assistance.

On the 2nd of October, 2009 independent credit rating agency “Credit-Rating” has confirmed the highest rating of deposits reliability of Piraeus Bank provided in March 2009 (mark “5”), that shows the bank's capacity to timely and in full make payments on existing deposits.

Piraeus Bank Press Service in Ukraine
Andriy Sakhno
phone/fax: +38(044)495-8888
e-mail: asakhno@piraeusbank.ua