Piraeus Bank is a key player in managing pension assets.

Piraeus Bank holds leading positions among providers of custodial services, professional custody of assets with clear mechanisms for control, reporting, and transparency for leaders in the non-state pension segment. Piraeus Bank’s share in servicing the 10 leading non-state pension funds (NPFs) is 50%, the bank told UBN. Additionally, the bank manages 48% of all custodial NPF assets in Ukraine. Piraeus Bank Board Member Iryna Stakhurska believes that pension reform will further boost the development of banking services in this sector. This will impact several areas: growth in assets for both the state and non-state portions of the pension system, an increase in NPFs, and expanded long-term financial resources and investments in securities.

“This will create additional opportunities for the growth of the stock market and the attraction of new players – companies managing pension assets. Presumably, the segment’s expansion will also lead to more banks offering custodial services for NPFs”, the expert noted.

Stakhurska added that segment growth will foster new product development and improve customer service quality, thereby increasing competition and strengthening the position of banks that can provide the best conditions and services.