Following its strategy to international expansion, MPB acquired banks in Ukraine, Estonia, Malta and Russia. MPB also entered into a long-term partnership with France’s CNP Assurances for the development of insurance and pension business.
The group has continued to upgrade its IT infrastructure in the context of its strategy to develop a common platform in each of its markets. A major development was the choice of the Temenos T24 system, which has become the group’s new banking system. Last year, MPB also upgraded its procedures for market and operational risk management.
The group has placed special focus on improving the quality of its loan portfolio and as a result of these efforts, the ratio of non-performing loans has been reduced 40 basis points to 4.5% of the loan book. With total assets of €35.3bn, MPG is positioned as the fifth largest bank in the Greek market and the top operator in Cyprus.
There has been a significant improvement in services via a group-wide re-engineering programme combined with the re-deployment of human resources towards more sales-orientated functions. Market development initiatives are being accompanied by a performance-based bonus scheme across the group, with the objective of promoting a more performance-orientated culture and on-target delivery.
