Piraeus Financial Holdings Societe Anonyme

TPEIR

Equity

ISIN GRS014003032 / Valor 111141092

Athens Exchange S.A. Cash Market (2026-09-02)

EUR 10.25+1.03%

Piraeus Financial Holdings Societe Anonyme
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About company

Piraeus Financial Holdings S.A. is the Athens-based parent company of the Piraeus banking group, overseeing a universal financial-services platform that provides retail and corporate banking, SME lending, deposit-taking and payments, cash-management and trade-finance services, as well as capital markets, treasury and investment-banking capabilities. Through its subsidiaries the group also operates asset-management, leasing and factoring businesses and distributes insurance products, while managing both performing and non‑performing loan portfolios and the associated workout and recovery activities. As a holding company, Piraeus Financial Holdings coordinates capital allocation, risk management and strategic direction for the group’s operations in Greece and selected neighboring markets, and supports a multi-channel distribution mix that includes branches and digital banking.

Summarized from source with an LLMView SourceSector: Finance

Profitability & returns

Reported net profit €284mn; EPS €0.22 (adjusted for AT1 coupon). RoaTBV 14.7%; tangible book value per share €6.01 (+14% yoy). Management reiterated full‑year targets (c.€0.80 EPS and ~14% RoaTBV).

Revenue mix

Net revenues €649mn (+10% yoy). Net fee income €160mn (+10% yoy) and represented 25% of net revenues (up 2pp qoq). Net interest income €481mn (down ~7% yoy) and NIM 2.4% as lower Euribor weighed on yields but loan volume growth helped mitigate the impact.

Costs & efficiency

Operating expenses €224mn (burdened by front‑loaded taxes, IT/digital and one‑off launch costs). Cost‑to‑core‑income ratio (core) at 35%, in line with targets and among best in peer group.

Asset quality & cost of risk

NPE ratio 2.6% (stable qoq, down from 3.5% yoy); NPE coverage 64%. Organic cost of risk 35bps (historic low); underlying CoR excluding certain fees/costs at ~14bps.

Loan book, deposits & liquidity

Performing loans ≈ €35bn (+16% yoy; +€1.1bn qoq). Customer deposits €61.4bn (+5% yoy, -2% qoq seasonality). Liquidity Coverage Ratio 201% and loan‑to‑deposit ratio ~66%.

Assets under management & fees

Client AuM €12.5bn (+25% yoy), already surpassing FY target >€12bn; strong mutual funds growth (+39% yoy). Fees over revenues at 25%, reflecting diversification toward bancassurance, asset management and financing fees.

Capital & shareholder returns

Pro forma CET1 14.4% and total capital ratio 19.5% after accounting for distribution accruals, DTC amortization and Basel IV impact; reported CET1 ~14.2% at Mar‑25. AGM approved €373mn cash dividend (to be paid 10 June 2025). MREL ~28.2%.

Strategic developments & outlook

Signed SPA to acquire 90.01% of Ethniki Insurance for €600mn (expected EPS and RoaTBV accretion). Reconfirmed 2025 NII guidance (~€1.9bn) and signalled continued focus on revenue diversification, digital initiatives (FX platform, robo‑advisory) and disciplined capital generation.

Summarized from source with an LLMView Source

Key figures

54.1%1Y

227%3Y

635%5Y

Performance

36.4%1Y

35.3%3Y

38.9%5Y

Volatility