Piraeus Bank S.a. · ATHEX:TPEIR
Piraeus Bank — Piraeus Financial Holdings — H1 2025 Earnings Presentation
74 slides from Piraeus Bank's earnings presentation, Sep 11, 2025
Slide 1: Corporate Presentation September 2025
Corporate Presentation September 2025
Slide 2: Contents
Contents 01 Executive Summary 02 Performance vs Peers 03 Financial Analysis (based on H1.25 financial data) 04 Annex
Slide 3: Executive Summary
01 Executive Summary
Slide 4: H1.25: €0.6bn net profit, €0.1bn interim distribution, €0.43 EPS and 15% RoaTBV
H1.25: €0.6bn net profit, €0.1bn interim distribution, €0.43 EPS and 15% RoaTBV 1 €559mn net profit €0.43 EPS, in line to meet or exceed guidance of c.€0.8 for 2025 2 €100mn interim distribution Via share buyback to be executed in Q4; >€500mn total distribution out of 2025 (c.€0.4 per share), 7% yie
Slide 5: Q2.25 €0.21 EPS with €5.90 TBV per share
Q2.25 €0.21 EPS with €5.90 TBV per share, up 8% yoy, after €0.30 cash dividend in Jun.25 Group Figures (€mn) Q2.24 Q1.25 Q2.25 H1.25 Net interest income 528 481 474 955 Net fee income 167 160 166 325 Net trading result 7 19 47 66 Other operating result 12 (10) 1 (9) Operating expenses (199) (224) (2
Slide 6: €2.2bn net loan growth in H1
€2.2bn net loan growth in H1, with positive loan origination dynamics continuing Performing loans evolution (€bn) Net loan movement +€1.1bn qoq (+3%) Out of €3.1bn disbursements in Q2: +3.1 35.9 ▪ c.€1.5bn to corporate, structured +1.1 34.8 finance and shipping 33.7 -1.9 Executive Summary -0.2 ▪ c.€
Slide 7: Credit expansion supported by all business lending segments
Credit expansion supported by all business lending segments; household lending increased Performing loans evolution (€bn) Performing loans yields, % 3.6% 4.0% 6.3% 6.5% 5.0% CAGR 2021-Jun.25 10% 35.9 ▪ Household lending Executive Summary Consumer loans & credit 33.7 1% 1.8 cards increased in Q2, +€7
Slide 8: Origination leverages unparalleled platform to reach all sectors
Origination leverages unparalleled platform to reach all sectors of the economy H1.25 CIB net credit expansion breakdown by sector (€mn) Net credit Sector Disbursements # Customers expansion Hospitality 500 600 20 Includes one large ticket in Q1 (marquee resort in Attika) Shipping 350 750 40 Handpic
Slide 9: New selected retail commercial initiatives in Q2.25
New selected retail commercial initiatives in Q2.25 Spiti 25 Eco Check 1 Fund 1 Fund 1 προϊόν. Διπλό όφελος. Για νέους 18-30 ετών Executive Summary An innovative mortgage loan with preferential Offering sustainability performance assessment Innovative deposit / investment product, for terms, for ind
Slide 10: Net fee income in H1 at 24% over net revenues
Net fee income in H1 at 24% over net revenues, on track to revised full year target of c.€650mn Net fee income (€mn) ▪ Loan fees supported by material loan Q2.24 Q1.25 Q2.25 Q2 yoy H1.25 H1 yoy disbursements Financing Loans 30 31 29 -2% 60 18% ▪ Asset management fees post strong Letters of guarantee
Slide 11: Sound growth in assets under management
Sound growth in assets under management, upgrading target for full year 2025 to >€13.5bn Assets under management (€bn) 13.2 ▪ Jun.25 AuMs surpassed annual target of 11.4 >€12.0bn, and we upgrade to >€13.5bn ▪ Upscale investment solutions with focus on 5.2 9.3 o Hybrid advisory service for Private Ex
Slide 12: NII in Q2: -1.5% qoq; €1.9bn guidance confirmed
NII in Q2: -1.5% qoq from -6% in Q1, despite steep drop in rates; €1.9bn full year guidance confirmed Net interest income Q4.24 Q1.25 Delta Q1 Q2.25 Delta Q2 (€mn) ▪ Performing loan interest income down €17mn qoq, with impact from rates at -€30mn, Performing exposures 495 458 (37) 440 (17) mitigated
Slide 13: Loan portfolio yield at 5.0% in Q2
Loan portfolio yield at 5.0% in Q2, with spreads evolution in line with budget Performing loan yields & spreads vs peak rates of Q4.23 ▪ From the peak of Q4.23, average 3m Loan portfolio yields Q4.23 Q1.25 Q2.25 Δ vs Q4.23 PE Jun.25 Euribor is down 185bps, compared to - 155bps for loan yield CIB 6.7
Slide 14: Lower time deposit pricing will drive funding costs lower
Lower time deposit pricing will drive funding costs lower Deposit cost evolution vs peak rates of Q4.23 Deposits ▪ First demand deposit balances have Deposit costs (stock) Q4.23 Q1.25 Q2.25 Jun.25 Jun.25 grown by c.€3.6bn over the past year First demand deposits cost (%) 0.06% 0.08% 0.07% 0.06% €50b
Slide 15: Cost management on budget; CapEx investment
Cost management on budget; CapEx investment to ensure long-term productivity gains Operating expenses (€mn) Q2.24 Q1.25 Q2.25 H1.25 Staff costs 97 99 103 203 Higher qoq on the back of variable pay(+€6mn qoq) G&A costs 73 94 76 170 Down qoq (Q1 burdened by frontloaded property taxes) Depreciation 29
Slide 16: Solid credit quality with NPE ratio at 2.6%
Solid credit quality with NPE ratio at 2.6% and cost of risk at 0.5%, increasing S1/S2 coverage NPE balance evolution (€bn) 1.3 1.3 1.1 1.1 1.1 Q2.24 Q3.24 Q4.24 Q1.25 Q2.25 Q2.24 Q3.24 Q4.24 Q1.25 Q2.25 Executive Summary Organic cost of risk (CoR) 0.5% 0.5% 0.4% 0.3% 0.5% o/w underlying CoR 0.2% 0.
Slide 17: Superior liquidity profile; deposits at €62.9bn
Superior liquidity profile; deposits at €62.9bn, +5% yoy Liquidity KPIs ▪ Deposits in Q2 recovered from Q1 241% seasonality; +5% yoy LCR (%) 219% 206% ▪ Improved funding profile, with new €500mn Green senior preferred bond and €400mn ΑΤ1 instrument issued in H1.25 Executive Summary ▪ The highest Gre
Slide 18: Strong organic capital generation
Strong organic capital generation, absorbing loan growth, increased distribution accrual and DTC CET1 trajectory Q2.25 (%) 14.7% 14.4% +0.9% 14.4% DTC / CET1 at 57% (0.3%) (0.4%) (0.3%) Executive Summary Absorbing 50% payout (0.2%) to fully Europe’s best cover Greek State in class double- Guaranteed
Slide 19: MREL requirement and position, 290bps buffer
MREL requirement and position, 290bps buffer Terminal MREL requirement MREL position (30 Jun.25) (30 Jun.25) 30.4% 27.5% • Ample buffer to MREL requirements • No subordination requirement based on the latest SRB’s communication 3.9% Combined buffers 9.9% Senior bonds & other senior liabilities • Deb
Slide 20: Piraeus to acquire Ethniki Insurance
Piraeus to acquire Ethniki Insurance, a leading insurer in Greece, further diversifying its revenue sources and enhancing value for its shareholders The acquisition is EPS and RoaTBV accretive by >5% and 1 percentage point respectively Financial KPIs Pre Transaction Post Transaction 2026 2027 2028 2
Slide 21: Snappi, Greece's first neobank, serves a dual strategic purpose
Snappi, Greece’s first neobank, serves a dual strategic purpose for the Group 2026: Innovation platform for retail banking Vehicle for international expansion European expansion Q3 ‘25: • Greenfield development of next-era • Low-capex expansion model with no Greek commercial Retail Banking capabilit
Slide 22: H1.25 continues our track record of delivering strong results
H1.25 continues our track record of delivering strong results FY.24 Q1.25 H1.25 FY.25 actual actual actual updated targets Earnings per share (€) €0.81 €0.22 €0.43 ~€0.8 RoaTBV (%) 15.0% 14.7% 14.6% ~14% NII / assets (%) 2.7% 2.4% 2.4% ~2.4% NFI / revenues (%) Executive Summary 23% 25% 24% ~25% Cost
Slide 23: Piraeus' Performance vs Peers
02 Piraeus’ Performance vs Peers
Slide 24: Piraeus: the leading bank in Greece
Piraeus: the leading bank in Greece #1 in performing loans (26% Greek market share) #1 in deposits (28% share) Piraeus Performance vs Peers #1 in equities brokerage (23% share) #1 in retail footprint, with 370 branches and 1,300 ATMs 4.5mn clients nationwide 7% distribution yield from 50% distributi
Slide 25: Return on tangible book value on par with European peers
Piraeus’ return on tangible book value on par with European peers RoaTBV (%) Piraeus Performance vs Peers 14% 14% 14% 13% 02 FY.25e FY.25e FY.25e FY.25e Spain Italy Greek peers Source: Bloomberg. Spanish sample includes Unicaja, Sabadel, Santander, Caixa, BBVA, Bankinter. Italian sample includes Ban
Slide 26: Credit expansion strong, best-in-class across Eurozone
Credit expansion strong, best-in-class across Eurozone Performing loan growth 1 (yoy) 16% 15% Piraeus Performance vs Peers 12% ~9% upgraded from 8% 3% 1% 02 Q1.25 Q1.25 Q1.25 Q1.25 Q2.25 FY.25e Spain Italy Greek peers Source: SNL Financial Database, Company information Note: 1. Excluding senior note
Slide 27: NIM among the best in Southern Europe
NIM among the best in Southern Europe Net interest income over average assets (bps) Piraeus Performance vs Peers 254 244 ~240 238 238 211 190 02 Q1.25 Q1.25 Q1.25 Q1.25 Q2.25 H1.25 FY.25e Spain Italy Greek peers Source: SNL Financial Database, Company information 27
Slide 28: Leader in fee income in Greece
Leader in fee income in Greece, with actions in progress to converge with Europe’s best-in-class Net fees & commission income over average total assets (bps) 112 Piraeus Performance vs Peers 81 83 81 ~80 69 61 02 Q1.25 Q1.25 Q1.25 Q1.25 Q2.25 H1.25 FY.25e Spain Italy Greek peers Source: SNL Financia
Slide 29: Fees as a percentage of revenues already high
Fees as a percentage of revenues already high, with a medium-term target of 30% Net fees & commission income over net revenues (%) 33% Piraeus Performance vs Peers 25% ~25% 24% 24% 23% 18% 02 Q1.25 Q1.25 Q1.25 Q1.25 Q2.25 H1.25 FY.25e Spain Italy Greek peers Source: SNL Financial Database, Company i
Slide 30: Cost champion across the region
Cost champion across the region Cost-to-income ratio (%) 45%1 Piraeus Performance vs Peers 43%1 38%2 35%2 34%2 <35%2 33%2 02 Q1.25 Q1.25 Q1.25 Q1.25 Q2.25 H1.25 FY.25e Spain Italy Greek peers Source: SNL Financial Database, Company information Notes: 1) Operating expenses divided by recurring revenu
Slide 31: NPE ratio now on par with European average
Following a radical reduction, NPE ratio is now on par with European average… NPE ratio (%) Piraeus Performance vs Peers 3.1% 2.8% 2.6% 2.6% ~2.5% 2.4% 02 Q1.25 Q1.25 Q1.25 Q1.25 Q2.25 FY.25e Spain Italy Greek peers Source: SNL Financial Database, Company information 31
Slide 32: Creating space for cost of risk to stay at low levels
…creating space for cost of risk to stay at low levels Cost of risk1 (bps) Piraeus Performance vs Peers 61 53 51 ~50 46 35 21 02 Q1.25 Q1.25 Q1.25 Q1.25 Q2.25 H1.25 FY.25e Spain Italy Greek peers Source: SNL Financial Database, Company information Note: 1. Provision for customer loan losses as a per
Slide 33: Regulatory capital close to domestic peers
Piraeus’ regulatory capital is close to domestic peers and on par with its regional comparables Capital ratios 20.7%1 20.4%1 20.2% 19.5%1 ~20.0%1 17.3% Piraeus Performance vs Peers Regulatory Capital % 16.0% 17.0%1 CET1% 14.4%1 14.4%1 ~14.5%1 13.2% 02 Q1.25 Q1.25 Q1.25 Q1.25 Q2.25 FY.25e Spain Italy
Slide 34: Stock still trades below EU bank comps
Piraeus’ stock still trades below its EU bank comps with similar earnings expectations, implying significant upside P/TBV multiple for 20251 (%) P/TBV 25e Implied P/TBV 25e 1.1x ~1.5x ~€9.1 1.5x Piraeus Performance vs Peers ~35% 1.3x €6.7 PB share price Implied PB share price P/TBV 25e P/TBV 25e 25
Slide 35: Financial Analysis
HM i<—— HIINSSS \ — ~ | \ » e ~ e . .* % @
Slide 36: Strong balance sheet with excess liquidity boosting profitability
Strong balance sheet with excess liquidity boosting profitability Asset mix vs funding mix - Jun.25 ▪ Customer loans comprise 51% of assets amounts in €bn ▪ Fixed income portfolio comprises 22% of assets Total 81.2 81.2 Total ▪ Fixed income holdings of Greek sovereign at €10.8bn, 2.5 Interbank Cash
Slide 37: Fee dynamics remain robust, while NII drop decelerated
Fee dynamics remain robust, while NII drop decelerated materially (-1.5% qoq vs -6% in Q1) Net interest income (€mn) Net fee income (€mn) NII shows resilience on the 528 530 Key drivers of growth: 167 167 160 166 514 481 474 156 back of asset growth and loans, bancassurance, hedges asset management
Slide 38: Balance sheet evolution pointing to further improvement
Balance sheet evolution pointing to further improvement Balance sheet items Group figures (€bn) Jun.24 Mar.25 Jun.25 Cash & due from banks 10.2 7.3 8.7 Net loans to clients 37.7 40.8 41.8 - Net PE book 37.0 40.3 41.3 - Net NPE book 0.7 0.5 0.5 Net NPE over total net loans down to 1.3% in Jun.25 Fina
Slide 39: Loan portfolio evolution
Loan portfolio evolution Q2.25 performing loan movement (€bn) Q2.25 disbursements (€bn) Mar.25 Disbursements Repayments Other Jun.25 Category amount yield % Mortgages 0.1 3.1% Individuals 7.7 +0.3 -0.2 0.0 7.8 Consumer 0.1 10.4% SB 0.2 5.8% Business 27.1 +2.9 -1.7 -0.2 28.1 SME 0.7 4.4% Performing l
Slide 40: Strong net credit expansion continues
Strong net credit expansion continues Net credit expansion (€bn) +€3.4bn +€2.4bn +1.7 +1.2 +1.2 +1.2 +0.8 -0.2 Q1.24 Q1.24 Q2.24 Q2.24 Q3.24 Q3.24 Q4.24 Q4.24 Q1.25 Q1.25 Q2.25 Q2.25 Financial Analysis Total -0.2 +1.2 +0.8 +1.7 +1.2 +1.2 Individuals 0.0 0.0 0.0 +0.1 -0.1 +0.1 Businesses -0.1 +1.2 +0
Slide 41: Loan portfolio diversification
Loan portfolio diversification Group loan composition (€35.9bn at Jun.25, %) Q2.25 CIB disbursements breakdown Mortgages Industry mix % 17% Retail loans 22% Transportation (incl. shipping) 23% Consumer 5% Wholesale & retail trade 14% Financial 14% Manufacturing 11% Energy 13% Wholesale & retail trad
Slide 42: Loan yields affected by base rates; deposit costs de-escalating
Loan yields affected by base rates; deposit costs de-escalating Group Interest income (€mn) Yields (%) Average balances (€bn) Q2.24 Q3.24 Q4.24 Q1.25 Q2.25 Q2.24 Q3.24 Q4.24 Q1.25 Q2.25 Q2.24 Q3.24 Q4.24 Q1.25 Q2.25 Customer loans 517 522 507 468 452 5.39% 5.30% 4.91% 4.55% 4.24% 37.9 38.6 40.3 41.2
Slide 43: Deposits fully recovered from Q1 seasonality
Deposits fully recovered from Q1 seasonality, with Q3-to-date trending higher Customer deposit movement (€bn) Deposit movement by segment (€bn) +2.3 62.9 +1.4 62.9 59.6 +1.2 +0.8 -1.4 FY.23 FY.24 Q1.25 Q2.25 Jun.25 -1.0 delta delta delta delta balance Mass | Farmers +0.8 -0.1 -0.3 +0.1 23.2 Affluent
Slide 44: Q2 operating costs on track with annual target
Q2 operating costs on track with annual target, with investment in our people, technology and business growth Operating costs (€mn) Q2.24 Q1.25 Q2.25 yoy Staff costs 101 99 103 3% Up 7% on increased variable remuneration recurring 97 99 103 7% (+1% excluding variable) G&A costs 73 94 76 4% G&A costs
Slide 45: Capital position exceeds P2G level by c.440bps
Capital position exceeds by c.440bps the P2G level Capital ratios | Jun.25 €bn | % Reported Pro forma • On the 2025 EBA stress test results, announced on 1st CET-1 capital August, Piraeus achieved the 12th strongest (lowest) 3year 5.1 5.1 fully-loaded impact among the 64 EU banks in the EBA Tier 1 c
Slide 46: 25% of remaining NPE portfolio in 0dpd
Post meaningful reduction of NPEs, 25% of remaining portfolio in 0dpd NPEs per bucket (€bn as at Jun.25) Remaining NPEs (€bn as at Jun.25) 1.1 Denounced loans, half to be dealt 0 dpd 1-89 dpd >90 dpd NPEs Cash coverage 57% 0.3 with settlements / liquidations / write-offs, while the rest are Business
Slide 47: NPE movement outlines strong clean-up effort
NPE movement outlines strong NPE clean-up effort, both organic and inorganic Group NPE movement (€mn) Q2.24 Q3.24 Q4.24 Q1.25 Q2.25 NPEs | beginning of period 1,303 1,264 1,262 1,068 1,097 Redefaults 14 10 15 8 4 Defaults 78 52 100 80 64 Total inflows 92 62 115 89 68 o/w business 30 18 77 36 25 Fina
Slide 48: €1.1bn NPE stock, fully covered by collateral and provisions
€1.1bn NPE stock, fully covered by collateral and provisions Group NPE decomposition & coverage (€bn | %) Forborne NPEs (Jun.25) 1.1 1.1 1.1 1.1 105% FNPE (€bn) 0.3 UTP 0dpd 0.2 0.4 FNPE 1-90dpd 0.0 Financial Analysis 0.6 Collateral >90dpd 0.2 Total 0.4 0.8 NPL NPE 0.7 NPE 0.6 Provisions 03 Jun.25 N
Slide 49: Group NPE & NPE coverage ratio
Group NPE & NPE coverage ratio NPE ratio per product category NPE coverage ratio per product Dec.24 Dec.24 Jun.25 119% Jun.25 Small increase in NPEs (+€35mn mortgages, 106% +€20mn consumer) on flattish balances Including €45mn PMA 72% 72% 4.9% 65% 67% 3.9% 3.9% 3.3% 41% 2.6% 2.6% 2.4% 2.2% Financial
Slide 50: Retail Banking: strong profitability
Retail Banking: strong profitability taking advantage of nationwide network and wide clientele base Performing loans (€bn) Net fee income (€mn) 150 10.3 138 10.1 10.1 €mn H1.24 H1.25 Total net revenues 686 583 2.3 2.4 2.5 SB Financial Analysis Total operating costs (202) (221) 1.6 1.8 Consumer Pre p
Slide 51: Corporate & Investment Banking: solid profitability
Corporate & Investment Banking: solid profitability driven by best-in-class volume growth Performing loans (€bn) Net fee income (€mn) 25.6 24.7 Leasing/ 1.6 factoring 1.5 21.2 116 €mn H1.24 H1.25 6.1 SMEs 111 1.4 6.0 Total net revenues 437 435 Financial Analysis Total operating costs (88) (92) 5.8 3
Slide 52: Treasury & Financial Markets
Treasury & Financial Markets: consistent execution of strategy in fixed income markets Fixed income securities per issuer (€bn) Fixed income securities per category (€bn) Yield 2.9% 3.0% 3.0% 17.2 17.6 17.2 17.6 0.9 €0.5bn GR 1.8 1.0 15.1 2.4 15.1 1.2 1.4 €0.8bn GR €mn H1.24 H1.25 Trading 1.0 Other
Slide 53: Annex
04 Annex
Slide 54: Greek economy well positioned in uncertain global landscape
The Greek economy is well positioned to navigate an uncertain global landscape Real GDP, % yoy 2.3% ▪ Greek economic outlook remains strong, 2.1% with GDP continuing to grow steadily, driven by investments and NGEU funds 0.9% 0.8% ▪ Investment grade status by all rating agencies, while further upgra
Slide 55: Greek economy to continue growing at healthy pace
Greek economy to continue growing at healthy pace 2023 2024 2025 2026 actual actual estimate estimate GDP 2.3% 2.3% 2.1% 1.9% • Greek GDP growth >2x EU average 8.3% 5.5% 4.6% 4.6% • Strong foundations for sustainable growth Nominal GDP • Tourism, FDI & consumption drive growth Inflation 3.5% 2.7% 2.
Slide 56: Strong economic momentum with contained inflation
Strong economic momentum with contained inflation, increasing employment and record tourism Economy on a recovery path both in Nominal & Real terms. …with moderated headline inflation close to European levels GDP expected to grow at higher levels compared to the EU… 20.0 14.0 Q2.25 Headline Inflatio
Slide 57: Favourable Greek economic profile, investment grade and RRF
Favourable Greek economic profile with the sovereign returning to investment grade status and RRF contribution Solid FDI flows reflecting strong potential in key sectors Greek sovereign upgraded to investment grade by all rating agencies; reflecting effectiveness of fiscal discipline and reforms in
Slide 58: Shareholder structure skewed to international investors
Shareholder structure skewed to international investors Shareholder structure (Jun.25) Domestic ▪ Shareholder structure of Piraeus Bank presents great Legal Entities diversity; total number of common shareholders c.22k 6% Individuals 7% ▪ In Mar.24, Piraeus returned to fully privatized status, follo
Slide 59: Merger with absorption of Piraeus Financial Holdings by Piraeus Bank
Merger with absorption of Piraeus Financial Holdings by Piraeus Bank Rationale and key benefits Key milestones of the merger (indicative dates) 1 Optimize existing • Simplified corporate governance corporate • Unified financial and regulatory reporting BoD approval BoD approval of SSM EGMs of PFH &
Slide 60: Credit ratings
Credit ratings Greek sovereign Piraeus Bank Piraeus Bank Piraeus Bank Credit rating Long term Outlook Senior preferred 18 March 2025 Baa3 Baa2 Stable Baa2 31 January 2025 BBB BB+ Stable BB+ 01 April 2025 BBB- BB+ Positive BB+ Annex 04 01 April 2025 BBB BBB Stable BBB Moody’s rating refers to long te
Slide 61: Publicly-placed outstanding senior debt issuance
Publicly-placed outstanding senior debt issuance €500mn 3.875% €350mn 8.25% €500mn 7.25% €500mn 6.75% €500mn 5.00% €650mn 4.625% €500mn 3.000% 6NC5 SP Green Notes 5NC4 SP Notes 5NC4 SP Notes 6NC5 SP Notes 6NC5 SP Notes 5NC4 SP Green Notes 3.5NC2.5 SP Green Notes due 2027 due 2027 due 2028 due 2029 d
Slide 62: Publicly-placed outstanding capital instruments
Publicly-placed outstanding capital instruments €600mn 8.75% €500mn 7.250% €650mn 5.375% €400mn 6.75% PerpNC5.5 AT1 Notes 10.25NC5.25 Tier 2 due 2034 11NC6 T2 Notes due 2035 PerpNC5.5 AT1 Notes Piraeus Financial Piraeus Financial Piraeus Financial Piraeus Financial Issuer Holdings S.A. Holdings S.A.
Slide 63: Outstanding debt redemption profile
Outstanding debt redemption profile Outstanding debt call dates (€mn) 5NC4 PerpNC5.5 SP Green 11NC6 Tier 2 AT1 Notes Jul.28 Sep.30 Jun.26 6NC5 SP 5NC4 3.5NC2.5 6NC5 10.25NC5.25 6NC5 Green SP Notes SP Green SP Notes Tier 2 SP Notes Nov.26 Jul.27 Dec.27 Dec.28 Apr.29 Apr.29 PerpNC5.5 5NC4 AT1 Notes SP
Slide 64: Group balance sheet evolution
Group balance sheet evolution Group balance sheet (€mn) Jun.24 Mar.25 Jun.25 qoq yoy Cash & balances with central banks 8,755 5,129 6,190 21% -29% Loans & advances to banks 1,453 2,166 2,546 18% 75% Gross loans 38,399 42,106 42,542 1% 11% (Loans loss reserves) (743) (705) (737) 5% -1% Securities/der
Slide 65: Group results | quarterly evolution
Group results | quarterly evolution (€mn) Q2.24 Q3.24 Q4.24 Q1.25 Q2.25 Net interest income 528 530 514 481 474 Net fee income 179 156 167 160 166 Net trading result 7 33 28 19 47 Other operating result (including dividend income) 12 (10) 21 (10) (1) Total net revenues 726 709 730 649 687 Total net
Slide 66: Earnings per share calculations
Earnings per share calculations Earnings per share (€) Q2.24 Q3.24 Q4.24 Q1.25 Q2.25 H1.25 1,245 1,247 1,246 1,247 1,248 1,248 Core operating profit 305 296 287 275 244 519 AT1 coupon (mn) (13) (13) (13) (13) (13) (26) Core operating profit adjusted (mn) 292 283 274 262 231 493 Core EPS 0.23 0.23 0.
Slide 67: Loan and deposit portfolios
Loan and deposit portfolios Gross loans evolution (€mn) Deposits evolution (€mn) Dec.22 Dec.23 Jun.24 Dec.24 Mar.25 Jun.25 qoq yoy Dec.22 Dec.23 Jun.24 Dec.24 Mar.25 Jun.25 qoq yoy Group 37,270 37,395 38,348 40,456 41,478 42,336 2% 10% Group 58,372 59,567 59,757 62,853 61,439 62,858 2% 5% Senior 6,0
Slide 68: IFRS9 stage analysis | Group
IFRS9 stage analysis | Group Gross loans Dec.171 Dec.181 Dec.191 Dec.201 Dec.211,2 Dec.221,2 Dec.231,2 Jun.242 Dec.241,2 Jun.251,2 Δ yoy (€bn) Stage 1 19.1 17.6 18.4 19.6 26.5 30.4 32.3 27.8 36.2 38.5 39% Stage 2 6.3 6.6 5.7 6.0 5.6 4.3 3.8 3.0 3.1 2.8 -9% Stage 3 32.9 27.3 24.5 22.4 4.9 2.6 1.3 1.3
Slide 69: Definitions of APMs
Definitions of APMs1 CET1 capital ratio, as defined by Regulation (EU) No 575/2013, for Dec.24, Mar.25 and Jun.25 subtracting (-) from the denominator the RWA of the NPE portfolios and real estate assets classified 1 CET1 capital ratio (pro forma) as HFS as at 31 December 2024, 31 March 2025 and 30
Slide 70: Definitions of APMs
Definitions of APMs Net profit normalized is the profit/ (loss) attributable to the equity holders of the parent minus (-) one-off items defined herein. Overall, one-off items include revenues, expenses and 20 Net profit, normalized impairment charges on loans and advances related to NPE sales and o
Slide 71: Glossary
Glossary Assets under management (AuM) include Piraeus Asset Management MFMC assets, plus (+) Piraeus’ Securities' equity brokerage custody assets and private banking, plus 1 Assets under management (AuM) (+) institutional portfolios’ assets which includes Iolcus AuM as of 30 March 2022 2 Deposits /
Slide 72: Disclaimer
Disclaimer General This presentation pertaining to Piraeus Financial Holdings S.A. (formerly known as Piraeus Bank S.A.) and its subsidiaries and affiliates (the “Group” or “we”), its business assets, strategy and operations is solely for informational purposes. References to the “Company”, “Piraeus
Slide 73: Contact information
Contact information Theo Gnardellis Chief Financial Officer Chryss Berbati Business Planning, IR & ESG Head Xenofon Damalas IRO Amalia Missailidi Senior IR Manager | Credit Ratings Vangelis Pilios Senior IR Manager | Equity Analysts Nina Lykou Senior IR Manager | Fixed Income & ESG Yvonne Papageorgi
Slide 74: Piraeus Financial Holdings
MM Piraeus Financial Holdings
Piraeus Financial Holdings — H1 2025 Earnings Presentation on 6ix