Piraeus bank in Serbia intends to increase its capital by additional 40m EUR in 2007

Piraeus bank in Serbia announced that it would increase the capital by 40m EUR through additional capitalization in 2007.

By the way, this bank increased its assets in 2006 to 267.8m EUR. The bank's plan is that total assets in 2007 be increased by 64% and the amount of 478m EUR be reached, while the credit portfolio should be enlarged by 130%, to 129m EUR.

The net value of the credits approved by Piraeus bank in 2006 amounted to 148.3m EUR. The growth of 146% has been registered since 2005, while the increase in the sum of approved loans to economy from 121 to 270m EUR is expected in 2007.

The value of the bank's assets that bring interest rates was increased in 2006 by 89.4% and reached the amount of 180.5m EUR. The good results were achieved thanks to the growth of credits approved to population and economy.

Piraeus bank plans to increase the number of its offices in 2007 by 22, to total of 45, while the number of employees in the bank in 2006 grew to 342 workers.

Bank group Piraeus has started the process of registration for companies for real estates and leasing, which should increase the presence of the group on Serbian market, as well as enlarge the very offer and the quality of services.