With the European Investment Bank, the Piraeus Banking Group is set to provide loans for small and medium-sized companies in Albania, Bulgaria, Romania and Serbia.
TIRANA, Feb. 9 – Teaming up with the European Investment Bank, the Piraeus Banking Group is set to provide 120 million euros in loans for small and medium-sized companies in Albania, Bulgaria, Romania and Serbia.
Piraeus Bank, Greece’s second largest bank and the mother company for Albania’s Tirana Bank, which has branches across Albania.
Money has been tight for these companies, and Piraeus said it will offer loans to them with very competitive market conditions.
Sectors set to benefit include industries, services, tourism, agriculture, healthcare, energy and environmental protection.
The European Investment Bank is providing the 120 million euros to finance these particular types of businesses in the four Balkan countries.
Its aim is to offer substantial benefits to companies that will receive these loans in order to help the local economies.
The move is important at this time when growth in the finance sector in the region is very much needed.
This latest loan project is marks the continuation of a successful cooperation that the two banks have had in Greece, with a total of 150 million euros used for business financing in that country.
Piraeus Banking Group is a Greek bank but it also engages in financial and banking activities in Southeastern Europe and the Eastern Mediterranean, as well as the financial centers of London and New York.
Piraeus Bank Group has a constantly expanding network with more than 300 branches in Greece, 38 in Albania, 180 branches in Romania, 72 in Bulgaria and 38 in Serbia.
Piraeus Bank Group said at its latest release of financial data that it maintains a strong balance sheet and its liquidity is higher than in the whole history of the bank.
“Careful management of Piraeus Bank Group will continue to include key policies and objectives for development in the region,” said Chairman Michalis Sallas said.
