Key Developments: Piraeus Bank SA (BOPr.AT)

BOPr.AT on Athens Stock Exchange

1.41EUR
19 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Piraeus Bank SA to merge with General Bank of Greece S.A.
Friday, 29 Aug 2014 10:50am EDT 

Piraeus Bank SA and General Bank of GreeceS.A:Announce that their Boards of Directors approved the draft merger agreement between the two banks.Say the consideration for the shareholders of General Bank of Greece will amount to 6.86 euros per share.  Full Article

Piraeus Bank SA agrees to sell ATE Insurance to ERGO Insurance Group
Thursday, 14 Aug 2014 11:35am EDT 

Piraeus Bank SA:Announces an agreement for the sale of 100 percent of ATE Insurance to ERGO Insurance Group, a subsidiary of Munich Re.Says the total consideration amounts to 90.1 million euros in cash, subject to customary net asset value adjustments upon closing.Says the transaction is subject to regulatory approvals and envisaged to be completed by the end of 2014.  Full Article

Bank Of Cyprus Public Company Ltd announces disposal of loan in Serbia to Piraeus Bank SA
Wednesday, 21 May 2014 08:00pm EDT 

Bank Of Cyprus Public Company Ltd:Announces that it has sold loans extended to Robne Kuce Beograd (a Serbian real estate management company) to Piraeus Bank SA.The sale consideration amounts to around 165 million euros which has enhanced the Bank’s liquidity position.The realized accounting gain from the transaction is 27 mln euros and there is a positive impact of around 46 mln euros or 0.2 percentage points on the Group's core tier 1 capital ratio due to the realized gain recorded and the reduction of risk weighted assets.  Full Article

Piraeus Bank SA announces no dividend for FY 2013
Thursday, 15 May 2014 08:00pm EDT 

Piraeus Bank SA:Announces that it decided not to distribute dividend for 2013, according to the established provisions (article 1 of Law 3723/2008 as in force, combined with the article 4 of Law 4063/2012) for the credit institutions participating in the Economy reinforcement plan.  Full Article

Piraeus Bank SA completes share capital increase
Thursday, 10 Apr 2014 01:48am EDT 

Piraeus Bank SA:Completes a share capital increase for the amount of 308,823,529.20 euros without preemption rights for existing shareholders, through the issuance of 1,029,411,764 new shares of nominal value 0.30 euro per share and a price of 1.70 euro per share.  Full Article

Piraeus Bank SA completes international book-building for its share capital increase
Wednesday, 26 Mar 2014 09:05am EDT 

Piraeus Bank SA:Announces the completion of an international book-building to investors outside Greece having placed 1,029,411,764 new ordinary shares at a price of 1.70 euro per share with total proceeds of 1.75 billion euros.Subject to the EGM decision and receipt of all necessary regulatory approvals, up to 102,941,176 new ordinary shares (10 percent of the equity offering) will be offered to retail and institutional investors in Greece through a public offering at the same price.Allocations to investors in the international book-build shall be adjusted to accommodate the shares subscribed for in the Greek public offering.Total proceeds raised from the institutional book-build and the Greek public offering shall in aggregate amount to 1.75 billion euros and a total of 1,029,411,764 new ordinary shares will be issued.  Full Article

Piraeus Bank SA issues 500 million euros senior unsecured bond
Tuesday, 18 Mar 2014 12:33pm EDT 

Piraeus Bank SA:Priced and placed in the international debt capital markets a 500 million euros three year senior unsecured benchmark note that has an annual fixed rate coupon of 5.00 percent.The bond offering was oversubscribed, as investor demand surpassed the 3 billion euros level.The bond will be issued through Piraeus Group Finance Plc, under the Euro Medium Term Note (EMTN) program.Settlement date will be the March 27 and the bond will be listed in the Luxemburg Stock Exchange.BNP Paribas, Credit Suisse, Deutsche Bank, Goldman Sachs and HSBC acted as joint book runners of the transaction.  Full Article

Piraeus Bank SA announces 1.75 billion euros share capital increase
Thursday, 6 Mar 2014 02:30pm EST 

Piraeus Bank SA:Announces that its board will convene an EGM of the shareholders on March 28, to approve a share capital increase of the Bank up to 1.75 billion euros in cash via the issuance of new ordinary registered shares and abolition of the pre-emptive rights of the existing shareholders.  Full Article

Piraeus Bank SA Announces No Dividend For FY 2012
Monday, 15 Jul 2013 10:57am EDT 

Piraeus Bank SA announced that it decided not to distribute dividend for 2012, according to the established provisions (article 1 of Law 3723/2008 as in force, combined with the article 4 of Law 4063/2012) for the credit institutions participating in the Economy reinforcement plan.  Full Article

Piraeus Bank SA Completes Acquisition Of Millenium Bank
Wednesday, 19 Jun 2013 11:44am EDT 

Piraeus Bank SA announced the completion of the acquisition from Millennium BCP ("BCP") of 100% of the share capital of its Greek subsidiary Millennium Bank SA (“MBG”), following the receipt of all required approvals. Prior to the completion of the acquisition, BCP has recapitalised MBG in the amount of EUR 274 million in addition to the EUR 139 million already contributed by BCP into MBG in December 2012, thus raising the total recapitalisation amount to EUR 413 million.  Full Article

UPDATE 1-Greece's Piraeus Bank posts profit, Eurobank in the red

* Piraeus Q2 profit at 164 mln eur vs forecast for loss of 133 mln eur

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