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Piraeus Bank absorbs the good part of Agricultural Bank (ATEbank)

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2012-07-29 14:35

Piraeus Bank announces the acquisition by absorption of the good part of Agricultural Bank of Greece (ATEbank), according to a bank statement.rnrnThis action takes place within the process framework that has been defined by the Bank of Greece and the Hellenic Financial Stability Fund, which aims at restructuring the Greek banking system and strengthening its financial stability.rnrnPiraeus Bank’s proposal ensures all job positions of Agricultural Bank’s employees, which is management commitment, who would like to welcome the new employees to Piraeus Bank.rnrnStarting on Monday, July 30, the whole branch network of ATEbank will operate within the Piraeus Bank entity, while maintaining the “ATEbank” commercial brand name. All customer transactions will continue to be implemented just like today without any change. rnrnTogether both forces, executives and employees of Piraeus Bank and Agricultural Bank, create a sound domestic financial institution, that provides absolute security to the agricultural world, better service to all customers, depositors and borrowers, quality service and greater potential for funding of the national economy, with €75 bn total assets, €35 bn customer deposits and €47 bn loans.rnrnThe Group employs 17,000 people and the total branch network operates 1,230 branches, with a presence in 9 countries outside Greece.

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