Kiyv, Piraeus Bank became a sponsor of the international scientific-practical conference “Ukrainian innovation development financing”, organized by Kiyv National Economic University named after V. Getman together with Saint-Petersburg State University of Service and Economy (Russia) and visited by more than 100 scientists, analysts and students from leading Ukrainian and Russian Universities states the bank’s press service.

During the welcome speech to the participants of the Conference the Head of Supervisory Board of Piraeus Bank said that knowledge is changing very fast as innovation increases. In our times knowledge becomes more and more available at a fast pace thanks mainly to the internet as a mean of technical communication that in turn makes people aware of such knowledge to be used for business or social reasons. “One can now watch or attend university classes on the internet on various electronic platforms from all major educational institutions internationally, where possibly tens of thousands of people are attending as well. You may participate in tests and competitions and achieving a distinction in such courses among many thousands of people worldwide is an achievement that surpasses the boundaries of your locality, where you live, study and work”, highlights Mr. Kyriakopoulos.

In his view, such knowledge commoditises and automates whole professions. If innovation is related to technology then such professions may be eliminated in the worst case or may be transferred to low cost areas such as India or China. Therefore innovation and personal flexibility becomes important.

Yannis Kyriakopoulos, Piraeus Bank in Ukraine Head of Supervisory Board: "In our times knowledge becomes more and more available at a fast pace thanks mainly to the internet as a mean of technical communication"

Though it does not mean at all that there is no need for the Universities, he said. “The world needs doctors, engineers, accountants, and many other professions useful to the society. The university should continue in educating people to take over such professions and certify the adequacy of the skills of the students. Academia should be advising the government and assisting it in planning the needs for specific professions. The difference that a University would make, however to become competitive, is the contribution to the improvement of knowledge, by mentoring its students and guiding them to the right direction. To create a stimulating environment for the students so that students and their academia may innovate. To connect the University with the market, by creating links with companies for research, advisory, practical training, so that they provide the right candidates for the various businesses and society in the whole, always however preserving the independence a University should have.

The participants also discussed such topics as funding and their influence on the banking sector’s potential, innovations in banking business: online banking servicing influence on the banks effectiveness , the main trends of innovative activities funding in Ukraine, strategic analysis of a commercial bank investment potential, foreign investments in banking sector as a factor of economic development, the investors priorities on the M&A market in Ukrainian banking sector, the role of the banks resources in innovative development of national economy, the ways of mortgage market activation, the problems and perspectives of banking credits to agro industrial sector.

Note. Piraeus Bank Group is one of the major banking institutions of Southern and Eastern Europe. Piraeus Group's pro-forma total assets amount to €95 bn, net loans to €63 bn and customer deposits to €55 bn (at the end of June 2013).

Piraeus Bank entered the Ukrainian market in 2007.

Piraeus Bank has the highest rating of deposits reliability provided by "Credit-Rating" Agency (grade "5"as of latest rating of 27.09.2013).

The Bank is authorized by the Pension Fund of Ukraine to make payments of pensions and financial assistance. The Bank is a member of Fund of Guaranteeing the Deposits of Individuals and Forum of Leading International Financial institutions (FLIFI).

Piraeus Bank in Ukraine Press Service
tel: +38(044)495-88-88
e-mail: press@piraeusbank.ua