After Piraeus Bank’s announcement on 12 July 2019 that it was exploring a possible partnership with a major Asian Pacific financial conglomerate, it has now entered into an exclusive, strategic collaboration agreement with ORIX Corporation, a Japan and US-listed company, for the provision of financing solutions to the Greek maritime sector.
The partnership combines Piraeus Bank’s long-term relationships and knowledge of the Greek maritime sector, with ORIX’s balance sheet capacity, to provide clients with a wider selection of financing instruments and additional financing where necessary.
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The collaboration agreement is expected to expand in both scope and sectors over time.
Piraeus Bank is committed to support the maritime sector with an overall portfolio to Greek Shipping exceeding USD2.5bn.
Piraeus Bank will continue to be an active lender and will provide financing to the Greek shipping market both on its own and also as part of this venture, targeting to strengthen its balance sheet and return on equity.
