Piraeus Financial Holdings: First Half 2025 Financial Results

ATHENS, Greece, July 30, 2025--(BUSINESS WIRE)--Piraeus Financial Holdings (ATHEX: TPEIR) (OTCQX: BPIRY) (OTCQX: BPIRF):

H1.25 continues our track record of delivering strong results

H1 2025 highlights

Outstanding loan book and client assets growth

• Loans at €36bn, up €2.2bn in H1 and 15% yoy, already meeting the target for end-2025; We upgrade full year target to >€36.5bn loans.

• €6.3bn new loans disbursed in the Greek economy since the beginning of the year, marking our best first half performance on record; Credit expansion supported by all business lending segments; household lending increased +€70mn in Q2

• Client assets under management (AuM) increased by 27% yoy, at €13.2bn, surpassing the full-year target of >€12.0bn; We upgrade our target to >€13.5bn assets under management for end-2025

Sustainable profits and returns

• Solid profitability of €559mn in H1, corresponding to €0.43 earnings per share, well on track to meet the full year target of c.€0.80; 15% return on tangible book value, compared to c.14% target for the full year; tangible book value per share increased to €5.90, up 8% yoy

• Net revenues at €687mn in Q2, up by 6% qoq, due to resilient NII, good performance in fees and trading income; NII dropped by 1.5% qoq, compared to -6% in Q1, despite steep decline in rates

• Net fee income in H1 was stable yoy, at 24% over net revenue

• Piraeus intends to proceed to an interim distribution out of 2025 profit, amounting to €100mn in the form of share buyback, to be executed during fourth quarter 2025, subject to the necessary supervisory and EGM approvals

Discipline in operating efficiency and balance sheet management

• Operating efficiency, with 34% cost-to-core-income ratio in H1, among the best across EU banks, while continuing to invest in our people, technology and business growth

• Strong balance sheet, with organic cost of risk at 0.5%, in line with the full year target. NPE ratio at 2.6% vs. 3.3% a year ago and prudent NPE coverage at 67%, up 9 percentage points yoy

• Superior liquidity profile with €63bn deposits (+5% yoy) and liquidity coverage ratio at 206%

CET1 with comfortable buffers above management target

• Pro forma CET1 ratio stood at 14.4% and total capital ratio at 20.4%, absorbing the 50% distribution accrual for 2025, robust loan growth and DTC amortization

• Buffer of approximately 440bps above P2G (16.0%)

• Aspiration for above €500mn total distribution out of 2025 profits

View source version on businesswire.com: https://www.businesswire.com/news/home/20250730775024/en/

Contacts

Group Investor Relations
4 Amerikis St., 105 64 Athens
Tel. : (+30) 210 3335818
Bloomberg: TPEIR GA | Reuters: BOPr.AT
ISIN: GRS014003032
investor_relations@piraeusholdings.gr
www.piraeusholdings.gr