Piraeus Bank Strengthens Role in Greece’s Green Transition with Top Sustainable Fitch Assessment

ATHENS, Greece--(BUSINESS WIRE)--Piraeus Bank S.A. (hereinafter, “the Bank”) has received the highest assessment from Sustainable Fitch for its Green Bond Framework June 2026, reinforcing its role in financing Greece’s transition to a lower-carbon economy.

Sustainable Fitch assigned the Framework an “Excellent” assessment and confirmed that it is fully aligned with the International Capital Market Association Green Bond Principles 2025, a leading international standard for green bond issuance.

Piraeus Bank has issued four green bonds to date, with a total of €2.15 billion outstanding, demonstrating its strong and consistent commitment to sustainability. Approximately €1.2 billion of the net proceeds of the Bank’s outstanding green bonds have already been allocated to eligible green assets, further evidencing the effective deployment of funds towards environmentally & sustainable beneficial investments.

Christos Megalou, CEO of Piraeus, said: “Climate risk is now a real economic issue, not just an environmental one. In Greece, climate issues are shaping investment needs across energy and infrastructure. Our Green Bond Framework is designed to mobilise capital for that transition, supporting projects that help the economy decarbonise, adapt and become more resilient. Sustainable Fitch’s ‘Excellent’ assessment is an important recognition of that approach.”

The June 2026 update of the Green Bond Framework reflects evolving market practices, regulatory developments and the Bank’s strengthened sustainability strategy. The Framework defines eligible green investments across renewable energy, energy efficiency, green buildings and clean transportation, supporting the transition to a low-carbon economy and the Bank’s agenda towards achieving net zero by 2050. It also incorporates a clear commitment that at least 10% of bond proceeds will be allocated to EU Taxonomy-aligned projects, while the Bank aims to align financed assets with the EU Taxonomy Substantial Contribution Criteria and the “Do No Significant Harm” criteria on a best-efforts basis.

The financed projects under the Framework are expected to contribute to key United Nations Sustainable Development Goals (SDG), including SDG 7 on affordable and clean energy through the promotion of renewable energy and energy efficiency, SDG 9 on industry, innovation and infrastructure through sustainable infrastructure investments, SDG 11 on sustainable cities and communities through green buildings and transportation solutions, and SDG 13 on climate action through the reduction of greenhouse gas emissions and climate change mitigation.

Piraeus Bank continues to strengthen its position in sustainable finance, in line with its 2026–2030 strategy to grow profitably and support the Greek economy. The “Excellent” assessment by Sustainable Fitch, together with the Bank’s presence in the green bond market, highlights its commitment to financing the transition to a low-carbon economy and creating long-term value for its stakeholders.

About Piraeus Bank

Piraeus, established in 1916, is the leading financial institution in Greece, in terms of market shares in loans, deposits, and branch presence. As of 31 December 2025, Piraeus Group reported total assets of €91 billion. Piraeus is committed to supporting the country’s economic development and delivering long-term value for customers, shareholders, and society. Through disciplined execution, innovation, and sustainable banking principles, Piraeus aims to drive growth and resilience across its operations.

About Sustainable Fitch

Sustainable Fitch Ratings offer a global solution to assess Environmental, Social and Governance performance of all asset classes at an entity, framework and instrument level, helping the financial community make better, informed decisions. It has developed a modular analysis framework, enabling it to provide a Second-Party Opinion and a monitored suite of Sustainable Fitch Ratings including Entity Rating, Framework Rating and Instrument Rating.