Piraeus Bank is reportedly examining the possibility of opening an office in the Middle East, especially in Abu Dhabi, in the near future, while it is considering all possible moves there, including the creation of a liaison office.
According to management sources, its priority is the Eurozone and the development of partnerships within it, but the market of the United Arab Emirates, and especially Abu Dhabi, attracts trillions of capital. In fact, the same sources emphasized that the region creates opportunities for asset management, as many English funds are concentrated there.
The so-called ADGM (Abu Dhabi Global Market Free Zone) has been created in the area, with separate legislation from the local one, which has favored the flow of trillions of capital.
According to administrative sources, Piraeus is examining all possibilities of development there, mainly in terms of financing for the coming period. At the same time, the sources do not rule out the possibility of opening a local office, with the aim of becoming the gateway to the area.
Credit Expansion & Mortgage Credit
As “N” has reported, Piraeus’ credit expansion has exceeded 3.5 billion euros, of which approximately 10% – almost 300 million euros – is linked to the financing of projects of the Recovery and Resilience Fund.
Piraeus’ new plans also include the stimulation of mortgage credit for 2026. As “N” has also reported, Piraeus recorded positive credit expansion in mortgage loans after 15 years, while it aims to further stimulate it in 2026. Piraeus’ credit expansion has already accelerated in householdsi n the third quarter, with management expecting an equally good performance in 2026.
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