Closing of the Acquisition of GENIKI Bank by Piraeus Bank
 
Piraeus Bank announced on 14/12/2012 the finalization of the acquisition of the entire stake of Societe Generale (99.08%) in GENIKI Bank, having received all required approvals. Following closing adjustments, the investment by Societe Generale amounts to €460 mn versus the €444 mn announced on October 19, 2012.

With the addition of GENIKI Bank, Piraeus Bank Group acquires a fully capitalized and self-funded bank, thus further improving its financial and strategic position.

  • Further strengthening of Key Financial Ratios and the Balance Sheet
  • Improved Operating Results and on course to return to profitability in 2014
  • Preparing the implementation of the New Business Initiatives

Click here for the presentation of the results.

 

 

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