Piraeus to cooperate with Hellenic Bank

Duringt a meeting held between the Chairman of Hellenic Bank Andreas Panayiotou and the Chairman of Piraeus Bank Michalis Sallas, the latter stated that TPEIR does not intend to acquire Hellenic Bank Pcl, but is looking forward to developing a cooperation pact between the two banks (TPEIR and HB).

In another development, Archibishop Chrysostomos B’ stated that the Cyprus Church intends to increase its participation in the share capital of Cypriot banks within 2008.

The cooperation between the two banks will be a positive development for the bank in the medium term.