The international presence of Marfin Laiki Bank was further enhanced with its activities expanding to Southeastern and Eastern Europe, penetrating into markets with high growth potential, and into others exhibiting traits appropriate for the provision of exceptionally high quality banking services in the sectors of international business. The countries in the above region are countries that, apart from their friendly relations with Cyprus, are at a stage of fast growth and offer excellent opportunities for successful business ventures.

Within the framework of implementing its new strategy, Marfin Laiki Bank proceeded in 2007 to the acquisition of three new banks in Ukraine, Malta and Russia. Details for the Ukraine bank acquisition were finalized last September, while the bank acquisitions in Malta and Russia are expected to be completed during the first months of 2008.

Through these acquisitions, the Marfin Laiki Bank has now expanded its presence with 451 branches in the following countries: Cyprus, Greece, the United Kingdom, Australia, Romania, Serbia, Estonia, Guernsey, Ukraine, Malta, and Russia. This is the largest presence of a Cyprus bank worldwide.


Laiki Bank, United Kingdom
The new strategic goal of the Bank in the United Kingdom is to expand its clientele to customer groups other than those members of the Greek and Cypriot communities. Significant progress was achieve in that direction in 2007. At the same time, the Bank has broadened the range of its products and services and improved both its profitability and financial magnitudes.

Laiki Bank (Australia) Ltd
The Bank maintains a network of 10 branches in key cities throught the country, offering comprehensive banking services to its customers. Despite the particularly intensive competition prevalent in the Australian market, the Bank managed able to improve its profitability.

Egnatia Bank (Romania) S.A.
2007 was aparticularly successful year for the Bank in Romania. For one thing, the bank expanded its branch network by more than doubling the number of branches from 8 (in 2006) to 19 (in 2007), thus recording an increase in its financial magnitudes. It is the Bank's target to strengthen further its network throughout the country, so that its customers may enjoy a wide and comprehensive range of products and services as well as the Bank’s impeccable service.

Laiki Bank a.d.
Our affiliate bank in Serbia is also in a phase of development which was supported by a €30^-million capital increase in May 2007. There are 24 branches in the network of Laiki Bank a.d. and, by the end of 2010, it is expected that the network will feature 74 branches in order to cover the entire country.

AS SBM BANK (Estonia)
Marfin Laiki Bank owns the majority of AS SBM Bank (Estonia) share capital (50,1%). The Bank operates 4 branches in Estonia focusing on offering services and products to small-to-medium businesses, while its e-banking services are highly developed.

Laiki Bank (Guernsey) Ltd
Guernsey constitutes one of the most popular financial centers throughout the world in matters pertinent to budgeting and tax planning. Through the presence of its affiliate, Laiki Bank (Guernsey) Ltd, the Group offers its customers an alternative option or their deposits.

Marine Transport Bank (MTB) (The Ukraine)
MTB was founded in 1993 as a private bank, under the name Marine Trade Bank and has been renamed to Marine Transport Bank since 1996. It offers a comprehensive banking package and is licensed to carry out all types of banking activities. Its activities are based in Odessa with 88 branches and points of sale throughout the country. Marfin Laiki Bank has acquired 99,2% of the MTB share capital and MTB’s three associated companies, Investment Lease Company Renta, Premier Capital, and Sintez Autoservice, while, since October 2007, its financial results have been consolidated with those of the Group.

Lombard Bank Malta PLC
Lombard Bank Malta is the third largest bank in Malta. It is listed in the local Stock Exchange, operating under the supervision of the Central Bank of Malta. Based in Valetta, it was founded in 1969 and offers a complete range of financial services with a network of six branches.
At the same time, Lombard Bank Malta owns 60% of the Malta Post stock, an entity with 47 points of sale throughout the country.
Marfin Popular Bank has reached an agreement with Lombard Bank Malta PLC (LBM) to acquire 43% of the latter’s share capital. Ratification of the acquisition by the country’s regulatory authorities is expected in the first quarter of 2008.

OOO Rossisysky Promishlenny Bank (Rosprombank)
In December 2007, Marfin Laiki Bank signed an agreement for the acquisition of OOO Rossisysky Promyishlenny Bank (Rosprombank), along with its subsidiary OOO RPB-Leasing through the acquisition of a controlling 50,04% of the stock of their parent company, OOO RPB-Holding. Rostprombank is a very fast growing bank in Russia with considerable involvement in financing small-to-medium size businesses, and a network that covers the country's large urban centers such as Moscow, St. Petersburg and the surrounding areas. Rostprombank operates 10 branches and 20 more locations offering services.

Bulgaria
Marfin Laiki Bank has submitted an application to the Central Bank of Cyprus for the operation of a branch in Bulgaria within the framework of free establishment as defined by the relevant regulations governing the provision of banking services in another EU member-state.