Piraeus Bank : S.A. announces that it has completed the sale of its shareholding (98.83%) in its Albanian subsidiary, Tirana Bank Sh.A.
March 04, 2019 at 04:25 am EST
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Piraeus Bank S.A. ('Piraeus') announces that it has completed the sale of its shareholding (98.83%) in its Albanian subsidiary, Tirana Bank Sh.A., to Balfin Sh.p.k. and Komercijalna Banka AD (the 'Transaction'), after receiving the required approvals from the competent regulatory authorities in Albania, including the Bank of Albania, as well as from the Hellenic Financial Stability Fund.
Total consideration amounts to €57.3mn and the transaction is capital accretive for Piraeus Bank Group. Based on Group reported CET-1 ratio as of 30.9.2018, the completion of the transaction leads to 11bps CET-1 ratio increase, through €0.4bn Risk Weighted Assets release.
UniCredit Group acted as financial advisor to Piraeus on the Transaction. Norton Rose Fulbright acted as international legal advisor, and Boga & Associates acted as local legal advisor to Piraeus on the Transaction.
Athens, 4 March 2019
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Piraeus Bank SA published this content on 04 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 04 March 2019 09:24:02 UTC
Piraeus Financial Holdings SA, formerly known as Piraeus Bank SA, is a Greece-based banking institute. It operates in the following main business segments: Retail Banking, Corporate Banking, Investment Banking, as well as Asset Management and Treasury. The Retail Banking segment includes the retail banking operations of the Bank and its subsidiaries, which are addressed to retail customers, as well as to small-medium companies, such as deposits, loans and letters of guarantee, among others. The Corporate Banking segment includes facilities related to corporate banking, provided by the Bank and its subsidiaries, addressed to maritime companies, such as syndicated loans, project financing and imports-exports, among others. The Investment Banking segment includes activities related to investment banking operations of the Bank and its subsidiaries, such as investment and advisory services, underwriting services and public listings, as well as stock exchange services, among others.
PIRAEUS FINANCIAL HOLDINGS S.A. 
