National rating agency "Credit-Rating" updated the reliability ratings of banks’ deposits. According to the latest data for September 2011, Piraeus Bank rating was affirmed at the level of the previous month with the highest rate - "5". Piraeus Bank in Ukraine holds the highest rating of deposits reliability since the rating’s establishment, i.e. from March 2009. According to September’s data the highest rating from the agency "Credit-Rating" received only 8 of 91 banks that went through the assessment.

Banks’ deposit ratings characterize the possibility of financial institutions to fulfill its obligations to return the deposits timely and in full within the next 12 months from the date of publication of the rating.

"Piraeus Bank steadily holds the reliability rate of deposits at the highest level that indicates the stability of the bank’s activity and reasonableness of its policy in assets and liabilities management since the European banking group Piraeus Bank Group entered Ukraine - Yannis Kyriakopoulos, Head of Supervisory Board of Piraeus Bank in Ukraine, said. - Recently our bank increased its share capital almost twice to UAH 1,628 bln., and due to this we have one of the highest liquidity and capital adequacy rates among the banking institutions operating in Ukraine. "

Yannis Kyriakopoulos, Head of Supervisory Board of Piraeus Bank in Ukraine: "The recent increase of the bank's share capital to UAH 1,628 bln. enables bank to have one of the highest liquidity and capital adequacy rates among the banking institutions operating in Ukraine"

Banks’ deposit ratings are updated by "Credit-Rating" agency once in a month. The agency supports all published ratings to be up-to-dated using the information obtained from banks within the contractual relationship with them. Information on current levels of banks’ deposit ratings is available on the agency’s website. During the estimation and subsequent monitoring of deposit ratings agency analyzes the banks’ current liquidity, structure and concentration of funding base, concentration and quality of assets, balance of assets and liabilities by terms to maturity, bank’s sensitivity to unfavorable business, financial and economic conditions, availability to access external funding sources and the degree of dependence on them.

Please, see the link on details about deposits ratings

Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 57.1 bln and total equity of EUR 3.5 bln (as of 30.06.2011). 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. Business lending and mortgages are the bank’s priorities.
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.

The Bank has «uaA» long-term credit rating with the forecast "stable" provided by “Credit-Rating” (updated on June, 21 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.

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