Piraeus Bank - Creditworthy?

[Zett]

Hello.


Just wonder if Piraeus Bank is creditworthy? What will happen to my money if the bank fails and goes into bankruptcy or something like that?


Thanks in advance!

 

[averagejoe]

I have an account with Piraeus bank for some time now never had any problems with them, the bank has insurance so I'm not really worried.

 

[JohnLocke]

There is absolutly nothing wrong with Piraeus bank Cyprus, they are regulated by the Cyprus Central Bank so if you ask because of the troubles in Greece you don't have to worry about that.


Also you can check their Credit report here http://www.piraeusbank.gr/Documents/internet/Economic_Research/Credit_reports/2010/July_en.pdf

Since January 2008 Piraeus Group has implemented the new regulatory capital adequacy framework
(Basel II), being in line with the Greek Law 3601/2007, as well as, with the related Governors Acts of


Bank of Greece. In the context of implementing the Basel II requirements as well as the related


legislation, Financial Institutions are obliged to disclose regulatory figures regarding their capital


adequacy and the management of the undertaken risks. This disclosure constitutes the Pillar III of the


new regulatory framework with reference to 31.12.2008 data of Piraeus Group.

Read more here http://www.piraeusbank.com/Documents/internet/Enimerosi_Ependiton/Etairiki_Diakibernisi/pylonas_3_en.pdf

 

[Rahul shetty]

To be honest I have not heard much about its safety and other features I think you should go with Central bank of Cyprus

 

[Aliza beth]

Your money can be in trouble if bank goes bankrupt. SO always make sure bank is big and if possible bank branches should be there in foreign countries as well.