Piraeus Bank Group, and in particular 'Piraeus Bank' and its subsidiary 'Piraeus Securities S.A.', completed the acquisition of 97.81% of 'EUROPEAN SECURITIES S.A.', established in 1997 and a member of the Bucharest Stock Exchange. More specifically, Piraeus Bank acquired 78.25% and Piraeus Securities S.A. 19.56% of the Romanian company.
The acquisition of 'EUROPEAN SECURITIES S.A.' is the first investment of the Group in the stockbrokerage industry outside Greece, and is part of the wider strategy for further expansion of its activities in Capital Markets and Investment Banking in East European and South-eastern Mediterranean countries. The acquisition of 'EUROPEAN SECURITIES S.A.' helps enhance the Group's presence in Romania and enrich the products and services provided to the customers of 'Piraeus Bank Romania S.A.'. Furthermore, the customers of Piraeus Bank Group, Greek and foreign, corporate and private investors, will now have access to the whole range of products and services offered in the Romanian Capital Market.