Port of Piraeus Zea and Munichia. In 493 BC, Themistocles initiated the fortifications of Piraeus and later advised the Athenians to take advantage of its natural harbours' strategic potential. In 483 BC, the Athenian fleet left the older harbour of Phaleron and it was transferred to Piraeus, distinguishing itself at the battle of Salamis between the Greek city-states and the Persians in 480 BC. In the following years Themistocles initiated the construction of the port and created the ship sheds ("neosoikoi"), while the Themistoclean Walls were completed in 471 BC, turning Piraeus into a great military and commercial harbour, which served as the
Piraeus Bank (today Piraeus Bank Beograd with 42 branches), and the Egyptian Commercial Bank (today Piraeus Bank Egypt with 43). In 2007 PB purchased the Cyprus arm of Arab Bank and renamed it Piraeus Bank (Cyprus). On 13 September 2007 Piraeus Bank completed its acquisition of 99.6% of the share capital of "International Commercial Bank" in Ukraine, today named Piraeus ICB. In June 2012 PB signed an agreement with Investors Bancorp Inc, to transfer PB's shareholding in Marathon Banking Corporation in New York City, to Investors Bancorp. PB used the money it received for Marathon to finance the take over of the