Decision to merge GENIKI Bank into Piraeus Bank

The BoD of GENIKI Bank decided on 30.5.2014, the merger by absorption of GENIKI Bank by Piraeus Bank. The merger is subject to the necessary corporate and regulatory approvals. The decision was reached based on the developments in the sector and the action plan of the Bank and the dynamics of high quality synergies that have been developed with Piraeus Bank.

Upon the completion of the procedure and the integration of the high level human resources of GENIKI Bank, its Customers will have access to the services of the leading financial Group of the country, that of Piraeus Bank, and customers will benefit from the security and quality that the Group provides. Until then, they will continue to enjoy the services offered by GENIKI Bank.

  • Completion of GENIKI Bank’s financial restructuring
  • Return to profitability in Q1 2014 for the first time after 10 consecutive years of losses
  • Further strengthening of Key Financial Ratios, the highest in the market
  • Accelerated revenues from effective NPL management

Click here for the presentation of the results.

 

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