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PIRAEUS BANK S.A.
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Newswire
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09-24-2008 - Announcement
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In response to certain press comments, alluding to an interest by Piraeus Bank for the acquisition of a Russian bank, the Bank announces that in the past it had expressed its interest to expand in Russia, within the framework of its strategy for expansion in the SE European region. In line with said strategy, the Bank has been exploring certain cases in Russia (with an envisaged acquisition cost below euro 100 mil), involving small banks with efficient management, focused on business lending with a solid profitability and a strong deposit base. If and when a final deal is reached in connection with the acquisition of any such banking institution, the Bank will issue a relevant announcement to the investment community and the regulatory authorities.
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