Another Greek Bank Sets Its Sights On Ukraine

Chairman of Greece’s Piraeus Bank, Michalis Sallas said on Friday, that his bank was looking into buying a small bank in Ukraine and Turkey. According to Sallas, Piraeus wants to increase its share of profits from outside Greece from 20% to 30%. Piraeus is the third Greek bank this month to announce plans to buy a Ukrainian bank, last week Greece’s largest bank the National Bank of Greece announced plans to enter Ukraine and is said to be eyeing Ukraine’s Bank Forum (FORM: BUY) and Tas-Investbank. Earlier, Greece’s third largest lender, Alpha Bank announced plans to buy a Ukrainian bank with at least 100 branches.