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Piraeus Bank Issues 2010 Annual and Corporate Responsibility Reports

Piraeus Bank Issues 2010 Annual and Corporate Responsibility Reports

Published 06-09-11

Submitted by Piraeus Bank

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Social Responsibility Report

Piraeus Bank recently issued its 2010 Annual and Corporate Responsibility Reports. This issue coincides with the difficult economic conjuncture that we are facing today. Piraeus Bank fully aware that its actions have a direct or indirect impact on households, businesses and their employees, both in Greece and in the countries where it has been operating for more than a decade, is dealing with the prevailing challenges responsibly, realistically and with guarded optimism.

In this report, Piraeus Bank presents the Corporate Responsibility principles it works by and the specific actions and results it achieved in 2010 but also outlines the targets it has set for the future. Among the initiatives it has undertaken, it highlights the dedicated support that Piraeus Bank provides to green business with new green products and services designed to respond to customer needs. Through its funding of Renewable Energy Sources projects, the emissions of over 300,000 tonnes of C02 were avoided.

Along with its business activities Piraeus Bank has improved its performance in environmental management, such as recycling, use of recycled paper, reduction in business travels and carbon emissions. Furthermore, the Environment Management System, as applied in all the Bank's premises in Greece, has been certified under ISO 14001 and EMAS (Eco-Management and Audit Scheme).

Piraeus Bank has established a long standing cooperation with NGOs that conserve biodiversity. Additionally, through the European co-funded project climabiz, Piraeus Bank is estimating the climate change risks and opportunities for the Greek business sectors. It is also worth noting that a new museum Environment Museum of Stymphalia was added to the list of six thematic museums already operating by Piraeus Bank Group Cultural Foundation.

Piraeus Bank believes that a healthy economy requires a social environment, in which the quality of life, culture and environment play a significant role in day-to-day decision making. And this belief has been guiding Piraeus Bank's actions consistently for the last two decades. www.piraeusbank.gr

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Piraeus Bank

Piraeus Bank

Piraeus Bank Group is one of the most dynamic and active financial organisations in Greece today. Founded in 1916, Piraeus Bank went through a period of state-ownership and management (1975-1991) before it was privatised in December 1991. Today, Piraeus Bank leads a group of companies covering all financial and banking activities in the Greek market (universal bank). Piraeus Bank possesses particular know-how in the areas of retail banking, small and medium-sized enterprises (SMEs), capital markets and investment banking, leasing and financing of the shipping sector. Piraeus Bank Group has a growing international presence, focused in Southeastern Europe and Eastern Mediterranean, but also in the financial centres of London and New York. Main strategic targets of Piraeus Bank Group are: further enhancing market shares in Greece and abroad wherever it operates, improving service quality and customer satisfaction, creating innovative products, further enhancing the Group's position in retail banking and small and medium-sized enterprises financing, strengthening the Group in the areas of asset management and bancassurance and, finally, strengthening profitability with a view of constantly increasing shareholder value.

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