Cypriot banks in Greece will remain closed today

 

As reported earlier this morning by Piraeus Bank, the signing of agreements to acquire the network of Cypriot banks to Greece is expected to be finished at noon today the latest.

 

Therefore, the opening of their branches in Greece is the sole responsibility of their administrations until the signing completion of the contracts, Piraeus Bank added.

 

With the completion of the deal, Piraeus Bank acquires an additional portfolio of nearly 21 billion euros in loans, 13 billion euros in deposits, a network of 330 branches and approximately 5,500 employees added to its workforce. The Piraeus Group's assets will now exceed 100 billion, granting of loans will reach 70 billion euros, deposits will amount to 52 billion euros and the total number of employees will stand above 24,500.

 

As Greek finamin Yannis Stournaras has said there is no risk for deposits to Cypriot banks in Greece.