Piraeus Bank has already received a banking license from the Central Bank of Cyprus for operating a wholly owned subsidiary under the name ‘Piraeus Bank (Cyprus)’. To this end, an experienced 40 person-management team has already been hired and is in place and nine branches in the main cities are being prepared, so as to offer a full array of banking services and products.
Country head of Piraeus Bank Cyprus is Constantinos Loizides. Piraeus Bank (Cyprus), together with Arab Bank’s network in Cyprus, is expected to commence operations at the beginning of 2008 with at least 13 branches and 160 staff.
