Piraeus Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2023
Data-protection fine
The Greek data-protection supervisory authority fined Piraeus Bank €210,000 for unlawful processing of personal data and failure to respond to an information request.
2019
ECB fines Piraeus Bank €5.15 million
Fine or penalty
The European Central Bank fined Piraeus Bank €5.15 million for breaching own-fund provisions between 2015 and 2017. According to the ECB, the bank classified capital instruments whose purchase was directly or indirectly funded by the bank as Common Equity Tier 1 instruments during six consecutive quarters. The penalty concerns these past funding violations.
Source excerpt
The European Central Bank fined Piraeus Bank 5.15 million euros for breaching own fund provisions between 2015 and 2017 under its former management, it said on Tuesday.
The ECB said the penalty was imposed for classifying capital instruments whose purchase was directly or indirectly funded by the bank as Common Equity Tier 1 instruments during six consecutive quarters between 2015 and 2017.
2012
Allegations concerning circular share financing
Reports published in 2012 concerning transactions from 2011 alleged that circular loans and undeclared offshore companies had been used to finance purchases of Piraeus Bank shares. The available reference material identifies the allegations but does not establish a final legal outcome.