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Piraeus Bank is a large, aggressively expanding Greek bank with about 270 branches, including one in London, and subsidiaries in New York and the Balkans.


HISTORY


  • 1916: Banque du Piree ( Piraeus Bank; BP) established.

  • 1975: BP came under government ownership.

  • 1991: The government privatized BP and the bank changed its name to Piraeus Bank (PB).

  • 1998: PB absorbed the activities of Chase Manhattan Bank (2 branches) in Greece, and Crédit Lyonnais Greece. It also acquired 37% of Macedonia - Thrace ( Macedonia-Thrace ) Bank from National Bank Of Greece in a privatization.

  • 1999: PB acquired 35% of Xios Bank. PB also absorbed the activities of National Westminster Bank in Greece.

  • 2000: PB merged in Macedonia-Thrace Bank and Xios Bank.

  • 2002: PB acquired 58% of ETBA Bank (Hellenic Industrial Development Bank) from the Greek government with a view to merging it. PB also entered into a strategic alliance with ING Group , which took a 5% stake in PB.

  • 2003: PB merged in ETBA Bank.


International expansion

  • 1995: PB established Piraeus Bank Romania .

  • 1996: PB established Tirana Bank. This was the first privately owned banking institution in Albania and now has 15 branches.

  • 1999: with its acquisition of Xiosbank, PB gets Xios's branch in Sofia , Bulgaria , and PB now has some 15 branches in the country. PB also acquires Marathon National Bank of Astoria , New York, which has branches in Astoria, Bayside, Broadway and Bayridge. Astoria is a town with a large population fo Greek descent.

  • 2000: PB acquires Pater Bank in Romania from Budapest Bank. Pater Bank targeted Hungarians living in Romania.

  • 2003: PB acquired Interbank N.Y., which operated a network of 5 branches in New York City, and specifically in Brooklyn, Astoria, Queens, as well as in Park Avenue, downtown Manhattan. PB then merged Interbank with Marathon National.

  • 2005: PB acquires Belgrade based Atlas banka in Serbia .


PB has a branch in London , and had a branch in Frankfurt that it may have closed.


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