Business Wire

Piraeus Bank: EUR 700mn New Support for SME Investment across Greece

Del

EUR 700mnn of new investment by small and medium sized companies across Greece will be supported by Piraeus Bank, following new backing from the European Investment Bank (EIB), the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD), which was announced in Athens today.

This represents the first covered bond issuance by Piraeus Bank and the first time that international financial organizations have invested in covered bonds issued by Greek banks since the beginning of the financial crisis. Piraeus Bank will issue a new 5-year €500mn covered bond in October 2017, to be launched under Piraeus Bank’s €10bn Covered Bond Programme.

Mr. Christos Megalou, CEO of Piraeus Bank, stressed that “Piraeus Bank, the largest bank in Greece, is strategically committed to assume a leading role in restarting the Greek economy by supporting Greek private entrepreneurship. As the largest lender in the business sector, it focuses on the Small and Medium Size Enterprises (SMEs), that are the backbone of the Greek economy. Piraeus Bank possesses the necessary skills and resources to provide the available financing solutions for the benefit of its customers, to help SMEs to overcome the results of the recession and become a driving force for growth and employment. Piraeus Bank, expanding its existing cooperation with international organizations, EIB, EIF and EBRD, has today signed two contracts worth a total of €500mn to finance SMEs, in all sectors of the economy”.

In the signing ceremony that took place today in Piraeus Bank’s headquarters, Μr. Werner Hoyer, President of the European Investment Bank, commented “Representing the EIB Group’s largest ever support for small businesses’ investment in Greece, this record transaction demonstrates the EIB Group’s reinvigorated support for companies across the country seeking to expand. Supported by the Investment Plan for Europe, this will allow companies involved in tourism, manufacturing and services to progress. This new initiative for SME’s follows the EUR 1 billion programme launched last year in cooperation with Piraeus and other leading Greek banks.”

Nick Tesseyman, EBRD Managing Director, Financial Institutions, said: “We welcome the signing today as it marks a further important step in the recovery of the Greek banking sector. The successful placement will allow Piraeus Bank to diversify its funding sources and strengthen its lending capacity. It also demonstrates the growing confidence by institutional investors like the EBRD and sends an important signal to other market participants. The rejuvenation of the covered bonds market will benefit the financial sector and the real economy in Greece.”

European Commissioner Pierre Moscovici, responsible for the Economic and Financial Affairs, Taxation and Customs, said: "Today's agreement with Piraeus Bank under the Juncker Plan means €700 million in new financing is now available for Greek SMEs. This will give a huge boost to the economy and it shows the Commission's continued commitment to supporting growth and development in Greece."

Contact information

Media enquiries:
George Papaioannou
Head of Press Office, Piraeus Bank
gpapai@piraeusbank.gr
+30 210 3288830
or
Alex Rowbottom
Powerscourt
alex.rowbottom@powerscourt-group.com
+44 (0)20 7250 1446

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Edgewater Networks Announces Event Sponsorship of BroadSoft Connections 201720.10.2017 21:00Pressemelding

Edgewater Networks, Inc., the industry leader in Network Edge Orchestration, announced today that it is an event sponsor of the BroadSoft Connections 2017 user conference, which takes place October 22-25 at the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix, AZ. During the event, Edgewater Networks will feature demonstrations of the latest end-to-end network interoperability capabilities, including Zero Touch Provisioning, UC Analytics from the core to the endpoint, SD-WAN optimized for BroadSoft, and much more. Continuing a long-standing partnership with BroadSoft, Edgewater Networks has completed another level of BroadCloud certification, this time for local survivability which is critical for business continuity for SMB and Enterprise customers. BroadSoft’s PacketSmart is available on all EdgeMarc Intelligent Edges. All elements of the Network Edge Orchestration are

More than 70 Companies to Showcase Top Tech at CES Unveiled Paris20.10.2017 15:08Pressemelding

The Consumer Technology Association (CTA) today announced that more than 70 exhibitors will showcase their latest innovations at the now sold-out fifth annual CES Unveiled Paris The event will focus on the Internet of Things (IoT), connectivity and smart cities, and draw more than 600 attendees. CES Unveiled Paris will run from 2-7:30 PM on Tuesday, October 24, 2017 at the Palais Brongniart. Regional technology companies, top-tier media outlets, buyers and key industry influencers will come together at CES Unveiled Paris to get a direct look at the latest industry developments. The day kicks off with a CES news conference and CTA market trends presentation. Conference programming is followed by a tabletop exhibition & networking reception. Curated exhibitors will be there to showcase top tech from robotics and audio to smart home and augmented and virtual reality. Notable

Westinghouse Receives Regulatory Approval for Analysis Methodologies20.10.2017 12:15Pressemelding

Westinghouse Electric Company today announced that it has received approval from the U.S. Nuclear Regulatory Commission (NRC) for two new important analysis methodologies that will be used to upgrade Westinghouse- and Combustion Engineering-based nuclear steam supply system (NSSS) safety analyses. The approvals granted are for the new FULL SPECTRUMTM Loss of Coolant Accident (FSLOCATM) methodology and the Performance Analysis and Design Model software code update, PAD5. FSLOCA is capable of improved modeling of the transient response in a pressurized water reactor to the full spectrum of LOCA break sizes that could occur, and PAD5 is the next generation of the Westinghouse fuel rod design performance code. “These codes were developed to work in concert with each other to maximize analytical margin for nuclear utilities,” said Michele DeWitt, senior vice preside

Gilead Announces Multiple Scientific Presentations Demonstrating High Cure Rates in Difficult-to-Cure HCV Patients and Improved Long-Term Bone and Renal Safety of Vemlidy® in HBV Patients Switched from Viread®20.10.2017 12:03Pressemelding

Gilead Sciences, Inc. (NASDAQ: GILD) today announced results from Phase 2 and Phase 3 studies of its approved medicines for chronic hepatitis C virus (HCV) and hepatitis B virus (HBV) infection, adding to the body of evidence supporting Gilead’s viral hepatitis therapies in diverse patient populations. These and other data from more than 25 abstracts will be presented this week at The Liver Meeting® 2017, which begins today in Washington, D.C. Positive results from studies of Harvoni® (ledipasvir 90mg/sofosbuvir 400mg) in HCV-infected patients with severe renal impairment, Epclusa® (sofosbuvir 400mg/velpatasvir 100mg) in HCV-infected liver transplant recipients and Vosevi® (sofosbuvir 400mg/velpatasvir 100mg/voxilaprevir 100mg) in NS5A-inhibitor experienced HCV-infected patients will be presented during poster sessions on October 21 and October 22. In addition, updated results f

SP3H Announces That It Has Obtained a €1.2 Million European Union Grant for Its Intelligent and Clean Vehicle (VIP) Project20.10.2017 10:47Pressemelding

SP3H is proud to announce joining the very select circle of the 10 French winners of the H2020 SME Instrument Phase 2 program since 2014. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171020005325/en/ Last summer VIP received the very prestigious SME instrument phase 2 H2020 label in the "transport & smart cities mobility" category. With an overall budget of € 1.7 million, VIP is subsidized by the European Union at a rate of 70% or €1.2 million. The framework contract was officially signed early October. VIP is the pre-industrialization program for Fuelbox sensors, the world's first miniaturized scanner capable of analyzing the quality of fuels on board vehicles. The heart of the program remains closely linked to the reduction of CO2 and pollutant emissions from vehicle

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom