Piraeus Financial Holdings: Nine Month 2025 Financial Results

ATHENS, Greece--(BUSINESS WIRE)--Piraeus Financial Holdings (ATHEX: TPEIR) (OTCQX: BPIRY) (OTCQX: BPIRF):

€854mn net profit and 15% RoaTBV in 9M.25

Sustainable profitability		Operating efficiency
15% normalized return over tangible book value		34% cost-to-core income
€0.62 earnings per share		2.3% NIM	€2.0bn net revenues
Capital generation		Solid asset quality
20.6% total capital ratio	+65bps YoY	2.5% NPE ratio	49bps Organic CoR
Performing book expansion		Client assets
€37bn client loans	+15% YoY	€64bn deposits	€14bn AuM

Q3 and 9M 2025 highlights

Outstanding loan expansion and client assets growth

• Loans at €36.8bn, up €3.1bn in 9M; strong performance leads to revision of 2025 target to >€37.3bn
• €9.5bn loans disbursed in the Greek economy in 9M, marking our best nine-month performance on record; credit expansion supported by all business lending segments
• €45mn net credit expansion of mortgages in Q3, the first after 15 years
• Client deposits at €63.9bn continue to post healthy growth, +2% qoq and +5% yoy
• Client assets under management (AuM) up by 30% yoy, at €14.3bn, above the 2025 target of >€13.5bn

Sustainable profits and returns

• Solid, normalized for one-offs, profitability of €854mn in 9M, or 15% return on tangible book value; €278mn normalized net profit in Q3, adjusting for the Bank’s contribution to the state sponsored programme for school renovations
• €0.62 earnings per share in 9M, on track to exceed the 2025 target of c.€0.80
• Tangible book value per share at €6.09, up 7% yoy, with €0.30 cash dividend paid in Jun.25
• Net revenues at €648mn in Q3, with fees rising by 5% yoy, and NII flat compared to Q2, reaching trough levels
• Net fee income rose to €489mn in 9M, at 25% over net revenue, and at par with the upgraded 2025 target of c.€0.65bn; loans, asset management and bancassurance drive fee growth
• Piraeus kickstarted the interim distribution out of 2025 profit, amounting to €100mn in the form of share buyback, to be completed during November 2025

Discipline in operating efficiency and balance sheet management

• Best-in-class operating efficiency, with 34% cost-to-core-income ratio in 9M, while continuing to invest in our people, technology and business growth
• Healthy balance sheet, with organic cost of risk at 0.5%, in line with the full year target. NPE ratio at 2.5% vs. 3.2% a year ago and NPE coverage at 71%
• Superior liquidity profile with 67% loans-to-deposit ratio and liquidity coverage ratio at 217%

CET1 with comfortable buffers above management target

• Pro forma CET1 ratio stood at 14.6% and total capital ratio at 20.6%, absorbing the 50% distribution accrual for 2025, robust loan growth and DTC amortization
• Buffer of approximately 460bps above P2G (16.0%), or c.310bps including Ethniki Insurance
• Aspiration for above €500mn total distribution out of 2025 profits