27.07.2012 ABBSORPTION OF ATEbank’s HEALTHY ASSETS BY PIRAEUS BANK
ATEbank’s voluntary participation in the write-off of the Greek debt by 53.5% (PSI) had a significant negative impact on its equity and capital adequacy. Piraeus Bank absorbed ATEbank’s healthy assets within the process framework defined by the Bank of Greece and the Hellenic Financial Stability Fund, in order to restructure the Greek banking system and enhance its financial stability, having as key parameter the protection of all job positions.
Together both forces, executives and employees of Piraeus Bank and ATEbank, form a sound domestic financial institution, that provides absolute security to the agricultural sector, better service to all customers, depositors and borrowers, quality service and greater potential for funding of the national economy, with €75 bn total assets, €35 bn customer deposits and €47 bn loans.
The Group employs 17,000 people and the total branch network operates 1,264 branches, with a presence in 9 countries outside Greece.
2010-26.07.2012 OPERATIONAL & ORGANIZATIONAL RESTRUCTURING
Since early 2010, the Group has undertaken the task of implementing the Restructuring Plan approved by the European Commission, the basic aims of which are: rationalization of its loan portfolio; organizational modernization; and ensuring its long-term financial sustainability.
2004-2006 STRENGTHENING OF THE BANK’S CORPORATE IMAGE AND POSITION
The Bank improved its Network’s competitiveness and effectiveness and achieved significant growth rate.
In November 2005, ATEbank became a constituent of the FTSE/Athex20 Index, as a large capitalization company; it enhanced its corporate identity and transformed the image of its branches and ATM’s; and it expanded its operations to the Balkans.
2000 ATEbank IS LISTED ON THE ATHENS STOCK EXCHANGE
ATEbank undergoes capital increase for its listing in ATHEX and since 2001 its shares have been traded on Athex.
1991 ATEbank BECOMES AN S.A.
ATE bank is converted into an S.A.; the Bank establishes a group to provide complete financial products and services.
1990 ATEbank EXPANDS TO THE NON-AGRICULTURAL SECTOR
ATEbank broadens its range of activities in the non-agricultural sector by developing a wide branch network around the country as well as new financial products and services.
1950 EXPANSION OF ACTIVITIES IN THE AGRICULTURAL SECTOR
ATEbank establishes a number of companies involved in agricultural product processing and in the utilization of the natural resources of various regions in Greece.
1929 ESTABLISHMENT OF AGRICULTURAL BANK OF GREECE
The Agricultural Bank of Greece is established as a non-profit, charitable organization mainly aimed at exclusive funding of the agricultural sector with favourable terms and at strengthening agricultural growth.