Piraeus Bank
- Company typePublic
- Founded1916
- HeadquartersAthens, Greece
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What Piraeus Bank does
Piraeus Bank (Τράπεζα Πειραιώς Α.Ε.) is Greece's largest bank by deposit market share (28% as of Q4 2025) and the listed operating subsidiary of Piraeus Financial Holdings S.A. Founded in 1916 and headquartered in Athens, the bank operates 368 branches and 1,174+ ATMs nationwide, serving retail individuals, SMEs, large corporates, agricultural clients, and high-net-worth individuals through Personal Banking and Private Banking divisions. It holds €91 billion in group assets (April 2026) and reported FY2025 profit of €1.1 billion, with 16% return on tangible equity and a best-in-class 33% cost-to-core income ratio.
The bank distributes a full banking product suite — deposits, mortgages (including green/Exoikonomw loans), consumer loans, credit and debit cards (Visa and Mastercard, with sports-club co-brands), investment services with ESG focus, trade finance via the Piraeus Factoring subsidiary, and since November 2025 insurance through the acquired Ethniki Hellenic General Insurance Company. Distribution blends physical branches with a digital ecosystem (Piraeus app, e-banking, phone banking, digital onboarding via video call, Snappi Neobank) and a Yellow loyalty programme spanning transit, ferries, fuel, and healthcare partners. The April 2026 AI Hub with Accenture and Anthropic (Claude-powered) and a Qualco-built Gen AI digital mortgage platform anchor the technology stack.
The revenue model is a diversified universal-bank mix: net interest income from a €39 billion performing loan book (the dominant stream at €1.9 billion in 2025), transaction and recurring fee income (€696 million in 2025; +32% YoY in Q1 2026), insurance revenue post-Ethniki consolidation, and capital-markets funding access demonstrated by a 7.4x-oversubscribed €500 million green senior preferred bond in May 2025. GTM is sales-led through the branch network augmented by direct-to-consumer digital channels, with sponsorships (EuroLeague, Greek football clubs) and ESG-led brand positioning (MSCI AAA, FT Climate Leaders six years running) supporting customer acquisition and trust.
Piraeus Bank firmographics
Firmographics- Name
- Piraeus Bank
- Legal name
- Τράπεζα Πειραιώς Α.Ε.
- Website
- https://piraeusbank.gr
- Company type
- Public
- Founded year
- 1916
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Ownership category
- akta.pro rank
Piraeus Bank industry classification
Industry- Product category
- Retail Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
Keywords
Where Piraeus Bank is headquartered
LocationHeadquarters
- HQ city
- Athens
- HQ country
- Greece
- HQ region
- Europe
Offices1 record
Markets served
Piraeus Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Net Interest Income: Piraeus Bank's primary revenue driver from its loan book, reporting €1.9 billion in annual net interest income for 2025 (exceeding its annual target of €1.9 billion). The performing loan book reached €39 billion as of Q1 2026 with 11% year-on-year growth. The bank benefits from a high proportion of low-cost deposits funding interest-bearing assets.
- Net Fee Income: Fee income of €696 million for full year 2025 (above €650 million target), with Q4 2025 net fee income growing 23% year on year to €206 million. Q1 2026 fee income reached €210 million, up 32% year-over-year, driven by lending activity and Ethniki Insurance consolidation. The bank maintains a best-in-class 33% cost-to-core income ratio.
- Insurance Revenue (Ethniki Insurance): Following the November 2025 acquisition of Ethniki Insurance for €0.6 billion, the bank consolidates insurance revenue, contributing €45 million profit before tax in approximately one month of consolidation post-acquisition.
- Capital Returns: Piraeus Bank returned €592 million to shareholders out of 2025 profit, including a €0.40 per share cash dividend and a €100 million share buyback, representing a 55% payout ratio.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Mortgage product 'Spiti 25' with fixed interest rate |
| Usage-based | Pay-as-you-go | Contactless transaction limit |
| Usage-based | Pay-as-you-go | E-commerce strong customer authentication exemption threshold |
| Usage-based | Pay-as-you-go | Piraeus Prepaid Visa card pricing |
| Usage-based | Pay-as-you-go | Virtual Debit Visa card pricing |
| Subscription | Annual | AB Plus Visa Debit card pricing |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels7 records
Piraeus Bank product offering
Product offeringCore offering
Piraeus Bank provides retail and corporate banking products including deposits, loans, payments, and trade finance, serving retail customers, SMEs, large enterprises, high-net-worth individuals, and the agricultural sector. The bank also distributes insurance products through its Ethniki subsidiary and offers factoring services, making it a full-service financial institution in Greece with €91 billion in assets and 368 branches.
Product overview
Piraeus Bank operates as Greece's largest bank with approximately 28% market share, offering a comprehensive digital banking ecosystem alongside traditional branch services. The core product portfolio centers on Piraeus e-banking (web platform), Piraeus App (mobile), and Piraeus Phone Banking, supplemented by card products including Visa Classic/Gold credit cards, Visa/Mastercard debit cards, and prepaid cards. The bank provides lending products (housing loans, consumer loans), investment services with ESG focus, and the Yellow loyalty program. Strategic digital initiatives include the AI Hub (Claude-powered, with Accenture/Anthropic), Snappi Neobank, and FarmClick agricultural marketplace. The recent Ethniki Insurance acquisition extends the offering into insurance, while Piraeus Factoring serves international trade finance.
Differentiator
Problem solved
Functional benefit
Brands
- Snappi Neobank: Digital neobanking platform launched as strategic initiative for digital banking services
- Piraeus AI Hub
- FarmClick
- Yellow
- EQUALL
Products and services
- Retail Banking
Quantifiable outcome
- 70.9% absolute reduction in Scope 1 and Scope 2 emissions between 2019 and 2024, with 28.1% annualized reduction in carbon emissions intensity
- +4 more outcomes
Companies that use Piraeus Bank
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles1 record
Piraeus Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability8 records
Feature5 records
Piraeus Bank partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- AccenturecorePiraeus Bank partnered with Accenture and Anthropic to establish a dedicated AI Hub in Greece, powered by Anthropic's Claude AI models. The Hub serves as a central engine for designing, developing, and scaling advanced AI capabilities across the bank's operations, customer experience, risk management, and compliance functions. This is an expansion of a cloud-first partnership that began in 2021, with Piraeus committing €200 million for AI over three years.
- AnthropiccoreAnthropic provides its Claude AI models to power Piraeus Bank's AI Hub, enabling the bank's enterprise-wide AI transformation across operations, customer experience, risk, and compliance. The collaboration aims to deliver secure, responsible, and human-centric AI solutions for the Greek banking sector with human oversight and governance.
- WikifarmerminorPiraeus Bank co-led a €7.7 million funding round in Wikifarmer, an AI-driven B2B agricultural marketplace. The two companies also launched FarmClick, a digital marketplace for agricultural inputs in Greece, with plans to expand the platform into Latin America and Africa.
- Athens Medical GroupminorPiraeus Bank's credit, debit, and prepaid cardholders receive preferential prices and discounts on medical services, diagnostic tests, and medical procedures at Athens Medical Group facilities, along with free ambulance service (Attica and Thessaloniki) and special check-up prices.
- Ερρίκος Ντυνάν Hospital CenterminorPiraeus Bank cardholders receive preferential medical service prices and discounts at Ερρίκος Ντυνάν Hospital Center, including free ambulance service in Attica and Thessaloniki and special check-up packages.
- EuroLeague BasketballminorPiraeus Bank is the Official Payment Partner of EuroLeague Basketball, with Piraeus Visa cards used as payment instruments for the EuroLeague Final Four 2026 in Athens, including VIP hospitality packages.
- Yellow Programme PartnersminorThe Yellow rewards programme partners include OASA (Athens public transport), Blue Star Ferries, Hellenic Seaways, Anek Lines, Superfast Ferries, sports clubs (Olympiacos, Panathinaikos, OFI), Samsung, Village Cinemas, AVIN/CYCLON fuel stations, and healthcare providers (Ερρίκος Ντυνάν Hospital Center, Athens Medical Group).
- Finance for Biodiversity PledgeminorPiraeus Bank signed the Finance for Biodiversity Pledge and actively participates in the EU Business & Biodiversity Platform, demonstrating commitment to protecting natural environments through business financing decisions.
- Principles for Responsible Investment (PRI)minorPiraeus Asset Management is a member of the Principles for Responsible Investment initiative for the adoption and implementation of Responsible Investment Principles.
- UN Global CompactcorePiraeus Bank is a member of the UN Global Compact and the UNEP Finance Initiative (UNEP FI), having been elected to the UNEP FI Banking Board. The bank has signed the Principles for Responsible Banking and the Collective Commitment to Climate Action (CCCA), committing to align its portfolio with financing sustainable development and limiting temperature rise to 1.5°C.
- Science Based Targets initiative (SBTi)corePiraeus Bank signed up to the Science Based Targets initiative for setting scientifically grounded targets for reducing its environmental footprint, further reinforcing its commitment to climate action aligned with the Paris Agreement.
- UNEP FI (UN Environment Programme Finance Initiative)corePiraeus Bank is a member of UNEP FI and participates in working groups including Impact Assessment and EU Taxonomy (with the European Banking Federation), contributing to the development of ESG measurement tools and evaluation criteria for financial institutions.
Scale indicators17 records
Recent moves7 records
Expansion highlights6 records
Piraeus Bank competitors and assessment
Company assessmentDirect peers
- National Bank of Greece: One of Greece's four systemic universal banks and the closest direct peer to Piraeus. Competes head-to-head across retail deposits, mortgages, SME lending and corporate banking in the Greek market; also co-seller of Ethniki Insurance to Piraeus. Comparable scale, business mix, and Greek-economy exposure.
- Alpha Bank: Greece's third-largest universal bank with similar retail/SME focus. Direct competitor in Greek deposits, mortgages, and corporate lending; similar investment-grade trajectory and digital transformation journey. Strong peer for benchmarking NIM, cost-to-income and Greek asset-quality trends.
- Eurobank Ergasias: The other Greek systemic bank in the top four. Comparable retail and corporate banking franchise with similar NPE legacy workout story; actively pursuing fee income growth and digital transformation. Closely correlated with Piraeus on Greek macro variables.
Emerging players
- Optima bank: Greek challenger bank focusing on digital-first retail and SME banking. Smaller scale than Piraeus but a relevant emerging competitor for digital-native customers and a benchmark for Piraeus's Snappi neobank strategy.
Regional players
- Attica Bank: Smaller Greek bank focused on SME and shipping lending. Useful regional peer for assessing Greek SME lending margins, though much smaller scale than Piraeus.
Broad incumbents
- Erste Group Bank: Austrian-based universal bank with strong CEE franchise. Comparable as a mid-cap European universal bank with retail/SME focus and similar NPE workout legacy. Useful benchmark for valuation multiples and cost-to-income targets, though broader geographic mix.
- Raiffeisen Bank International: Austrian universal bank with significant CEE presence. Comparable scale, retail and corporate banking model, and ongoing digital transformation journey. Useful European universal bank benchmark.
- KBC Group: Belgian universal bank with strong CEE presence and bancassurance model highly comparable to Piraeus's post-Ethniki strategy. Useful benchmark for bancassurance cross-sell economics and digital banking efficiency.
- ING Group: Dutch universal bank with leading digital-first retail banking model. Relevant benchmark for Piraeus's AI and digital transformation ambitions, given ING's industry-leading digital cost-to-income ratios.
- Banco Santander: Large European/international universal bank with strong digital banking (Openbank) and consumer finance franchises. Useful broad incumbent peer for digital transformation and consumer banking benchmarks, though much larger and more diversified.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat7 records
Key risks5 records
Key highlights7 records
Customer concentration
Piraeus Bank social profiles
Digital presencePiraeus Bank compliance and trust
Trust signalCompliance16 records
Piraeus Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Piraeus Bank leadership team
Management profileNumber of profiles
Piraeus Bank subsidiaries and ownership
Company hierarchySubsidiaries5 records
Piraeus Bank funding detail
Funding detailFunding overview
Funding rounds5 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Piraeus Bank M&A and investment
M&A and investmentM&A1 record
Investments9 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Piraeus Bank
What does Piraeus Bank do?
Piraeus Bank provides retail and corporate banking products including deposits, loans, payments, and trade finance, serving retail customers, SMEs, large enterprises, high-net-worth individuals, and the agricultural sector. The bank also distributes insurance products through its Ethniki subsidiary and offers factoring services, making it a full-service financial institution in Greece with €91 billion in assets and 368 branches.
Is Piraeus Bank a public or private company?
Piraeus Bank is a public company. It is classified as public and is currently operating.
When was Piraeus Bank founded?
Piraeus Bank was founded in 1916. It employs 5,001 to 10,000 people.
Where is Piraeus Bank based?
Piraeus Bank is headquartered in Athens, Greece, in the Europe region.
How does Piraeus Bank make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are net Fee Income, insurance Revenue (Ethniki Insurance) and capital Returns.
Who are Piraeus Bank's main competitors?
Direct peers on record are National Bank of Greece, Alpha Bank and Eurobank Ergasias. Optima bank is listed as an emerging player. Attica Bank is listed as a regional player. Broad incumbents are Erste Group Bank, Raiffeisen Bank International, KBC Group, ING Group and Banco Santander.
Does Piraeus Bank have an API?
No public API is recorded for Piraeus Bank.
What industry is Piraeus Bank in?
Piraeus Bank's product category is Retail Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs). Its NAICS code is 522110 and its SIC code is 6021.