Piraeus assets reach 3.9bn euros

Piraeus Bank, one of the largest Greek financial groups, reached assets worth 3.95 billion euros on the local market in June. The Greeks own a bank on the local market – Piraeus Bank Romania, a leasing company, a financial services company and an insurance broker. Overall assets went up 126% against June last year, when they amounted to 1.75 billion euros, according to the report published in Athens. The group released a figure that indicated its overall exposure on the Romanian market, so the volume of assets recorded in Piraeus Bank Romania’s balance sheet is not given separately. According to a study recently published by Italian group UniCredit, Piraeus Romania made its way into the top ten of players in the local banking system, in the first half of this year. The volume of loans granted by the bank reached 3.17 billion euros in the first six months, 137% more than in June 2007, according to the group’s interim results.