Statement of Piraeus Bank’s Chairman Michalis Sallas

Today, Piraeus Bank completes 100 years of presence in the Greek banking system, reflecting its evolution and growth mentality amid two centuries. When the Bank was established back in 1916 in Piraeus, it started as a small banking institution, with relatively limited aspirations and operations. Today, it has evolved into a sizeable bank for the domestic market, and a strong and significant bank for the European market.

Piraeus Bank’s achievements, along with its support of entrepreneurship and the economy, the friendliness towards the customer and the quality of its services, not only characterized the history of the Bank, but also determine its course into the next decade, against the prevailing challenges.

The Bank’s privatization in 1991, represents an important milestone in Piraeus Bank’s history, when a group of Greek businessmen, with whom I shared the same vision, embarked on a project to create a modern and large bank that could address the needs of a new era, that coincided with the participation of the Greek economy in the European Union. At that time, Piraeus Bank had a market share of just 0.1%. Today it fosters a market share of approximately 30%. Back then, our Bank employed 200 people. Currently, the Group employs 20,000 people and services nearly 6 million customers.

We continue on our course, with the same commitment and philosophy. With our strong sense of consistency, quality, and perseverance, we set as our priority to respond to the needs of our customers and those of the economy, and to safeguard the interests of our shareholders. We are prepared to address the new needs of a challenging domestic and European economic conjunction; we are ready for the future.