Panellinia had failed to find investors to cover a capital need of about 170 mln EUR to bring its capital adequacy in line with regulatory requirements.
On April 17, 2015 the Bank of Greece made a decision to transfer assets and liabilities of Panellinia Bank to Piraeus Bank. The liabilities to be transferred include all the deposits, while the assets to be transferred include mainly loans, except for those in permanent delay or in delay for more than three years.
In 2013 total assets of Panellinia Bank, S.A. were 749,00 mln EUR.
Panellinia Bank, S.A. participates in the deposit guarantee scheme of Greece. This deposit guarantee scheme applies to all deposit accounts made by natural persons, legal entities and covers up to up to 100,000 EUR per bank per depositor. Panellinia Bank, S.A. is a member of Hellenic Deposit and Investment Guarantee Fund (TEKE) and makes its contributions into it.
Panellinia Bank, S.A. was headquartered in Athens.