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September 25, 2021

Piraeus took over the sound assets of ATEbank, including the Romanian branch

Hellenic bank Piraeus took over, by absorption, the sound assets of ATEbank, controlled by the Hellenic state, including ATEbank Romania branch, this transaction being part of the financial consolidation and restructuring process of the banking system in Greece. Piraeus Bank, the fourth large credit institution in Greece, is also active in Romania, according to bank sources for Mediafax. Starting Monday, July 30, the entire branch network of ATEbank operates within the entity Piraeus Bank but it preserves its commercial brand “ATEbank”. All the clients’ transactions continue to be conducted as they were until now, without any change, based on a press release from the Hellenic group Piraeus Bank. Together, the two banks shall have assets worth EUR 75 bln, deposits amounting to EUR 35 bln and a lending balance of EUR 47 bln.

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