Piraeus Bank completed the acquisition of a 90.01% stake in Ethniki Asfalistiki from CVC and National Bank of Greece for €600m.

Piraeus Bank, a financial holding company, completed the acquisition of a 90.01% stake in Ethniki Asfalistiki, an insurance firm in Greece, from CVC, a private equity firm, and the National Bank of Greece, for €600m. “The acquisition of Ethniki Insurance is a defining moment for Piraeus Group and underscores our commitment to revenue diversification and strategic growth. By joining forces with Ethniki Insurance, we are broadening our capabilities across protection and investment solutions and unlocking new opportunities to deliver value to our customers and shareholders. Together, we are setting a new benchmark for the Greek economy, positioning Piraeus Group as a leader in integrated financial services and paving the way for sustainable, long-term returns,” Christos Megalou, Piraeus CEO.