OREANDA-NEWS. November 22, 2011. Over the three quarters of 2011 Piraeus Bank has provided new loans for more than UAH 500 million
Total assets increase by 30%
New loans provided for more than UAH 500 mln
Increase of customer base by 14 600 active clients (up to 50 000 clients)
Q3 profit – UAH 15,5 mln
Capital increase by 93%*

Following the announcement of the financial result for Q3 2011, Piraeus Bank has generated a quarterly profit of UAH 15.5 mln. In January-September 2011 Piraeus Bank has attracted over 14 600 new customers so that the total number of active clients exceeded 50 000 of both private and corporate customers. Within the three quarters of 2011 Piraeus Bank in Ukraine has provided new loans for more than UAH 500 million (more than 73 million of which to the private clients), upon that the bank’s total loan portfolio reached UAH 2,839 billion as of October, 1.

Due to the active lending to small and medium businesses and mortgage lending to private individuals, as well as to the funding and investments provided by the main institution of Piraeus Bank Group – Piraeus Bank S.A. – total assets of Piraeus Bank in Ukraine increased by 30% or by UAH 1,1 billion to UAH 4,686 billion since the beginning of the year.

"In the third quarter of this year we were able to fulfill the main task – to have a positive financial result, which amounted to UAH 15,5 million. This result proves that the current year's loan portfolio is of high quality and generates sufficient income as well as the measures to optimize the costs were proved to be effective. October was also a profitable month for the bank. Thus, the total loss for 2011 the bank got due to the provisions, will gradually decrease", Vyacheslav Koval, Piraeus Bank in Ukraine acting Chairman of the Board, said.