Piraeus Bank Announces Plan To create Agency For Bad Debts

During a general shareholders΄ meeting, Chairman of Piraeus Group, Michalis Sallas announced plans to create a special agency aimed at improving the management of bad debts in the group. The agency's aim, according to Sallas, is to lead a big part of enterprises currently facing problems back to a competitive framework of operation.

Sallas noted that financial results are going to continue growing in the next two years and predicted that Piraeus Bank is expected to report significant profits in 2015. Finally he said that the completion of a bank recapitalization and restructuring program it was entering a new era.