Piraeus Bank

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Piraeus Bank to reward home loan borrowers who pay on time

Piraeus Bank will launch a reward program for borrowers with home loans who service their debt regularly and have no arrears, Greece's largest lender by assets said on Tuesday.

The move is an attempt to embed a culture of paying on time in a country where many borrowers struggled to service their debts during the country's economic crisis.

Piraeus Bank grows Q2 profit as bad debt provisions fall

Piraeus Bank grew second quarter net profit as provisions for impaired loans decreased, Greece's largest lender by assets said on Friday.

Piraeus Bank, which is 26.2 percent owned by the country's HFSF bank rescue fund, reported a net profit from continued operations of 20 million euros ($22.29 million) after net earnings of 14 million in the first quarter.

A turbulent 20 years for Greek banks

The Greek banking system has radically changed over the past two decades. Mergers and acquisitions had already begun in the late 1980s, but it was two significant events 20 years ago that marked the beginning of a process that has led to the consolidation of the country's banking sector in the dominant "big four" (Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank).

Moody’s sees positive outlook for Piraeus Bank

Moody's said on Tuesday that Piraeus Bank's outlook is positive, reflecting expectations of an improvement in the systemic lender's fundamentals in the next 12 to 18 months, after the completion of its restructuring plan.
In its update to investors, the agency gave Piraeus a Caa2 rating, which reflects the challenge the bank is facing in the reduction of its nonperforming exposures.

Piraeus Bank considers Asian Pacific partner for shipping financing

Piraeus Bank is looking into a strategic partnership with a major Asian Pacific financial conglomerate that will help it provide financing to Greek shipping companies, Greece's largest lender by assets said on Friday.
Piraeus did not name the Asian partner, nor provide details of what form such a deal would take.

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