|Date joined:||25 April, 2007|
Piraeus Bank was founded in 1916, and operated as a private credit institution for many decades, while for the period 1975-1991 it went through state ownership and management before it was privatized in December 1991. Since then, it has rapidly grown in size and activities by making a series of strategic moves in order to establish a strong presence not only in Greece but also internationally.
Today following the acquisitions of the “good” assets of ATEbank, of Geniki Bank, of the banking operations in Greece of Bank of Cyprus, Cyprus Popular Bank and Hellenic Bank and of Millennium Bank Greece, the combined total assets of the Group amounted to €95 bn. The Group employs 24,743 people, while the entire branch network numbers 1,718 units, with a presence in 10 countries: Greece (1,280 branches), Romania (160 branches), Bulgaria (83 branches), Albania (56 branches), Serbia (42 branches), Ukraine (38 branches), Cyprus (14 branches), Egypt (43 branches), London (1 branch) and Frankfurt (1 branch) (data 30/06/2013).
Piraeus Bank is the leading Bank in Greece in terms of loans and deposits with 30% and 29% market share respectively, covering all financial and banking activities in the Greek market (universal bank). It possesses particular know-how in the areas of medium-sized and small enterprises, in agricultural banking following the acquisition of ATEbank, in consumer and mortgage credit and green banking, capital markets and investment banking, and leasing.
The main midterm objectives of Piraeus Group’s policy are: to safeguard liquidity, capital adequacy, asset quality, to achieve high efficiency by containing operating costs, and to smoothly integrate the recently acquired banking activities in Greece, thus creating significant synergies. The Bank will continue to focus on SMEs, the agricultural sector and retail banking segments, where it holds strong expertise.
Piraeus Bank & Sustainability
Since 2004, when Piraeus Bank first articulated its environmental policy, the Bank’s performance in environmental management has been marked by a continuous upward trend. The Bank established in 2004 the Office of Environmental Affairs, which in 2009 became the Environment Unit. In 2011, Piraeus Bank became the first Greek bank to have its Environmental Management System (EMS) certified, in all its branches and administration buildings under the EMAS and ISO 14001:2004 environmental standards. Through implementing co-funded EU LIFE programmes, in partnership with NGOs, private and public entities, Piraeus Bank has made pioneering steps in the fields of environmental management, development of green products, environmental education for employees, monetizing impacts of climate change on Greek business, identifying climate change opportunities, and recently, has ventured in the field of business and biodiversity.
The Bank has established a Green Banking division to promote the funding of Green businesses. Since 2009, the Green Banking division has been very active in supporting enterprises and private individuals who like to make green investments. Overall, Piraeus Bank’s green loans amount to € 1.19 billion, of which loans for Renewable Energy Production amount to € 757 million, representing a total funded capacity of 688 MW (data 30/06/2013).
In regards to human resources, Piraeus Bank has adopted the principles of the UN Global Compact and Declaration of Human Rights. It applies equal opportunity principles to all its actions and is opposed to any form of discrimination, inequality or human rights violation as it recognizes and promotes individuality. Furthermore, it encourages the participation of its employees and the wider public in volunteer actions regarding society, environment and culture through specific programs designed by the Group. At the same time, it provides Employee Assistance Programs to enhance the resiliency and agility of its people in all aspects of their lives, thus ensuring work/life balance, health and wellness.