{"id":3322,"date":"2026-04-30T11:47:00","date_gmt":"2026-04-30T08:47:00","guid":{"rendered":"https:\/\/en.tomanifesto.gr\/?p=3322"},"modified":"2026-04-30T11:47:00","modified_gmt":"2026-04-30T08:47:00","slug":"piraeus-bank-net-profit-of-281-million-in-the-first-quarter","status":"publish","type":"post","link":"https:\/\/en.tomanifesto.gr\/?p=3322","title":{"rendered":"Piraeus Bank: net profit of 281 million in the first quarter"},"content":{"rendered":"

Piraeus Bank remains on track to fully meet its annual targets, Piraeus Bank,<\/strong> announcing strong financials for Q1 2026. <\/p>\n

The bank recorded sustained profitability of \u20ac281 million, which corresponds to a normalized return on tangible equity (RoTE) of 15%, fully aligned with management’s full-year guidance. <\/p>\n

Champion in credit expansion<\/strong> <\/h3>\n

Piraeus achieved the highest net credit expansion in the Greek market of \u20ac1.3 billion, with its portfolio of outstanding loans <\/b>now standing at \u20ac38.6 billion (+11% p.a.). <\/p>\n

The recovery in mortgage loans is particularly impressive, with disbursements jumping 95% year-on-year to \u20ac185 million.<\/p>\n

At the same time, client funds under management strengthened by 17% to \u20ac14.7 billion. <\/p>\n

Revenue surge and operational discipline<\/strong> <\/h3>\n

Core revenues stood at \u20ac692 million (+8% year-on-year), with service revenues (commissions and insurance activities) recording an impressive 32% increase to \u20ac210 million. This performance, the market leader as a percentage of assets (0.94%), offset the pressure from the gradual easing of interest rates. The cost-to-income ratio remained at a healthy 37%, despite the integration of National Insurance. <\/b><\/p>\n

Balance sheet shield and dividends<\/h3>\n

Asset quality continues to improve, with the NPE ratio falling to 2.1% (from 2.6% last year) and coverage strengthening to 70%. The capital position remains robust, with the CET1 ratio at 12.6%, having already provided for a 57% profit distribution for 2026 and the accelerated amortisation of the DTC. <\/p>\n

Note that the Annual General Meeting approved the distribution of a dividend of \u20ac494 million from 2025 earnings,<\/b> scheduled to be paid on 15 June, sealing the bank’s return to normality and rewarding its shareholders. <\/p>\n

X. Megalou: Dynamic start for 2026<\/h3>\n

“Piraeus’ Q1 performance is the result of a strong business model, supported by a broad network and consistency in its execution. While the turmoil in the Middle East intensifies economic uncertainty globally and in Europe, Piraeus is in a strong position to weather the current situation. Piraeus’ resilience is underpinned by the momentum of the Greek economy, which grew by 2.1% in 2025, above the Eurozone average, with a strong primary surplus, and a rapidly declining debt-to-GDP ratio<\/b>. Growth is expected to remain above the European average, supported by investment, private consumption and support from EU structural funds. <\/p>\n

In these conditions, Piraeus made a strong start in 2026, with the first quarter recording significant progress towards achieving its annual targets, achieving a 15% return on equity, with tangible equity per share at \u20ac6.1. The loan portfolio grew by \u20ac1.3 billion in Q1, reflecting strong demand across all business sectors, while funds under management increased, driven by strong net inflows. <\/p>\n

Net interest income remained stable in the first quarter, while service revenues delivered a strong performance, supported by contributions from National Insurance, client asset management, and bank insurance.Our disciplined approach to operational efficiency and risk management is reflected in our cost-to-income ratio of 37%, and organic risk costs of 32 basis points. <\/b><\/p>\n

Overall capital ratio was 18.5%, maintaining a significant buffer against regulatory requirements. In line with our commitment to distributions to shareholders, the Annual General Meeting of Shareholders approved a cash distribution of EUR 494 million, or EUR 0.4 per share, for the 2025 financial year, scheduled to be paid in June. For 2026, the distribution rate is set at 57% of earnings, up from 55% in 2025. <\/p>\n

We are proud of Snappi’s continued growth, which has reached 100,000 customers, while continuing to invest in digital transformation and ESG initiatives,<\/b> including new fintech partnerships and green finance initiatives. <\/p>\n

We entered 2026 with strong momentum, a clear capital strategy and a resilient balance sheet, committed to achieving our goals and creating sustainable value for our shareholders and customers.” <\/p>\n","protected":false},"excerpt":{"rendered":"

Piraeus Bank remains on track to fully achieve its annual targets, announcing strong financial results for the first quarter of the year.<\/p>\n","protected":false},"author":1,"featured_media":3323,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/3322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3322"}],"version-history":[{"count":0,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/3322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/media\/3323"}],"wp:attachment":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}