Piraeus Bank posted strong profitability for the first quarter of 2025, reporting net earnings of EUR 284 million, equivalent to EUR 0.22 earnings per share and a 14.7% return on tangible book value.
Net revenues for the quarter reached EUR 649 million, up 10% year-on-year, driven primarily by fee income. Fee revenues increased by 10% annually, benefiting from the strong growth of customer portfolios. The fee-to-net revenue ratio stood at 25%, up by 2 percentage points compared to Q4 2025.
Loan Growth and Liquidity
Loans totaled EUR 35 billion, marking a 16% year-on-year increase, with EUR 1.1 billion in net new lending during Q1 2025, primarily driven by business loans. Loans linked to the Recovery and Resilience Facility reached EUR 2.2 billion by the end of the quarter.
Customer deposits remained robust at EUR 61 billion, a 5% increase year-on-year. Client assets under management (AUM) surged 25% annually to EUR 12.5 billion, already exceeding the full-year target of over EUR 12 billion, propelled by mutual funds (+39%), institutional investment management, and private banking activity.
