A contract of cooperation was signed today by the Minister of National Defence Panos Kammenos and the Chairman of Piraeus Bank Michalis Sallas. According to the contract, Piraeus Bank will provide full banking services to military and civilian personnel of the Armed Forces and their families.

This contract will expand the current long lasting cooperation among the Ministry of National Defence and the Army Share Fund, with Geniki Bank, which was bought and merged with Piraeus Bank.

The contract regards the availability of a number of wide banking services, under favourable terms and is addressed to almost 200,000 soldiers, civilians, pensioners and their families.

While signing the contract, the Minister of National Defence Panos Kammenos, among others, stated the following:

“I am very pleased to announce that the negotiations for the selection of a banking and financial services provider to the Armed Forces’ personnel and their families, has been completed.

This is a very important day, because at a time of financial crisis which has afflicted every Greek family, particularly the Armed Forces and their personnel, with salaries having been cut up to 60%, we have the possibility to announce a deal, in cooperation with Piraeus Bank, which regards 200,000 personnel of the Armed Forces, pensioners and their families.

Piraeus Bank – and I wish to stress that I do not usually speak positively about the banks – made a very big step by writing off the debts of socially vulnerable groups who have been included in the law on the humanitarian crisis. And, of course, the bank was not obliged to do it and it was for us a sign of great social contribution at a time when most Greeks are in a difficult situation and we see them losing property assets which have been obtained with great effort and after many years of hard work.”

The Chairman of Piraeus Bank Michalis Sallas stated, among others:

“I wish to thank the Minister of National Defence Panos Kammenos personally. With him we inaugurate this second period of a broad cooperation between Piraeus Bank and Armed Forces’ personnel, who were severely affected by the crisis.

I assure you that the Bank will stand by the Armed Forces and I encourage the Ministry of National Defence to ask for more services within the framework of this convention and we will respond to the extent to which we can.

Piraeus Bank was and will remain in the front line of the national effort for the financial stability, the productive reconstruction of this land, the reinforcement of competitiveness and the growth levels of the Greek economy that we must achieve.

Everything will depend on us all, on our forces, on our momentum to achieve our objectives.”

It should be noted that, among others, the contract provides for:

A favourable 3% rate for salary accounts containing up to 5,000 Euros and a 1,8% rate for amounts higher than 5,000 Euros.

12-month time deposits with interests paid at maturity, with an additional 1% rate added to the currently valid rate of 12-month time deposits.

Consumer Loan – loan term up to 96 months – with fixed or variable interest rate and a favourable individualised pricing reduced by 2% from its normal value.
     
All Armed Forces’ personnel and the owners of the accounts will possess a credit card with the emblem of the Ministry of National Defence.

A consumer loan for studies’ expenses with loan term up to 120 months and a favourable pricing reduced by 2% from current pricing.

Mortgage Loan: Favourable pricing reduced by 1.5% from the pricing of fixed rates in force and a carry forward loan for debt consolidation of a 96-months payment duration and a privileged personalised pricing reduced by 1.25% from the pricing of fixed rates in force.

The Bank will hire each year five university graduates with Honours, children of military personnel. The payment each year, for as long as our cooperation continues, of cash prizes to graduates of Military Schools with Honours, was also decided.

Finally, it was decided to place an adequate number of ATMs inside the Papagos Military Camp, but also to other points all over Greece, such as border regions”.

The meeting was also attended by the Chief of HNDGS General Michail Kostarakos and the Chief of HNGS Vice Admiral Evangelos Apostolakis.

On behalf of Piraeus Bank, the meeting was also attended by the Managing Director and CEO Mr. Anthimos Thomopoulos and high-ranked managers of the Bank.