Eurobank S.a. · ATHEX:EUROB
Eurobank — FY2025 Earnings Presentation
105 slides from Eurobank's earnings presentation, Feb 26, 2026
Slide 1: FY 2025 results
FY 2025 results 26 February 2026
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: This presentation has been prepared by Eurobank S.A. (“Eurobank”). Given the financial period that this presentation covers, there are refer
Slide 3: Table of contents
Table of contents FY25 Operating Performance 6 2026-2028 Business Plan 15 FY25 results highlights 33 Regional Presence 40 Balance sheet 45 Profitability 53 Asset Quality 61 Capital 65 Sustainability 68 Macroeconomic update 82 Appendix I – Supplementary information 93 Appendix II - Glossary 100 3
Slide 4: Eurobank at a Glance: Diversified across Segments & Geographies
Eurobank at a Glance: Diversified across Segments & Geographies ❑ Eurobank is the largest Greek Banking Group: • Universal banking presence in Greece, Prosperity Needs Pioneers Bulgaria and Cyprus Our People (#12,408) are our pioneers • Private banking in Luxembourg • Listed on the Athens and Cyprus
Slide 5: Eurobank: A Three-Markets, Three-Business-Lines Financial Group
Eurobank: A Three-Markets, Three-Business-Lines Financial Group Year Acquisition (Industry) Investment 2023 BNP Bul (Banking) €0.4bn Targeted strategic transactions have transformed 2024 HB (Banking) €1.3bn Eurobank into a diversified financial services platform €2.7bn 2025 CNP (Insurance) €0.2bn 20
Slide 6: FY25 operating performance
FY 2025 Results FY25 operating performance
Slide 7: 2025 Key highlights
2025 Key highlights Diversified Net Profit1 earnings stream €1,412m, o/w €741m from SEE operations RoTBV4 Loans organic growth +€5.3bn; +12% vs 7.5% guidance Managed Funds Δ y-o-y +€2.3bn; +30% vs 18% guidance 16.0% Robust organic vs 15% guidance growth Deposits Δ y-o-y PB CAL3 Δ y-o-y +€4.1bn; +5%
Slide 8: RoTBV – Proven track record of achievement
RoTBV1 – Proven track record of achievement 2021 2022 2023 2024 2025 18.1% 18.5% 15.0% 16.0% 15.0% 11.4%2 13.0% 10.0% 7.0% 8.2% Guidance Actual Guidance Actual Guidance Actual Guidance Actual Guidance Actual 1. Adjusted net profit. post AT1 coupon. 2. Adjusting Net profit by normalizing other income
Slide 9: Earnings and TBV growth
Earnings and TBV growth EPS (€) TBV per share (€) 0.39 0.37 0.31 0.303 x 4.1 times x 1.9 times 2.64 0.09 0.15 DPS2 2.49 TBV/S Net Income (€ m)1 1,484 1,412 x 3.3 times 2.31 1,256 1,178 2.07 1.71 424 1.42 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 1. Adjusted Net Income. 2. DPS: Dividend per s
Slide 10: Robust organic growth
Robust organic growth Loans Deposits (€ bn) Managed Funds (€ bn) PB CAL1 (€ bn) ❑ Organic growth at €5.3bn, +5.2% versus initial guidance of +30.3% +11.5% €3.5bn vs 3% vs 18% vs 8% guidance guidance guidance Δ y-o-y Guidance Actual (%) 9.9 14.5 82.7 13.0 Greece +6.5 +12.7 78.6 7.6 SEE +9.5 +9.5 Grou
Slide 11: Prudent Balance Sheet management
Prudent Balance Sheet management Capital position (bps) Asset quality metrics Coverage 69.2 75.5 86.4 88.4 95.2 (%) 1,250 NPE 6.8% ratio (460) 5.2% 13.7% 70 15.6%1 (510) (140) (20) Net M&As 3.5% (70bps) 2.9% 2.6% Organic capital FY21 Other FY25 Disposals Asset Growth M&A Shareholders' generation rew
Slide 12: Growing Shareholders’ Reward
Growing Shareholders’ Reward Cash dividend and share buy back (SBB) 2022-2025 (€ m) Payout 7% 30% 50% 55% 1,827 2024 SBB program update Strong execution pace since launch (May 2025) 670 SBB Initial Amount €288m Amount utilized5 €229m (79% of total) 1,157 Cash Dividend Shares acquired 70.6m 717 Avera
Slide 13: Balanced deployment of organic capital (FY21–FY25)
Balanced deployment of organic capital (FY21–FY25) Shareholders’ • Cumulative distributions c.€1.8bn c.37% reward1 Acquisition Year Investment (Industry) 2023 BNP Bul (Banking) €0.4bn c.22% M&A2 2024 HB (Banking) €1.3bn 100% 2025 CNP (Insurance) €0.2bn 2026 Eurolife (Insurance) €0.8bn c.41% Asset Gr
Slide 14: Outperforming 2025 financial goals
Outperforming 2025 financial goals FY24 FY25E1 FY25 Organic Loan Growth €3.9bn c. €3.5bn €5.3bn Core Operating Profit2 €1.8bn c.€1.7bn €1.75bn RoTBV3 18.5% c.15.0% 16.0% Payout ratio4 50% ≥ 50% 55% TBV/S €2.31 c.€2.55 €2.546 CET17 15.7%5 c.15.8% 15.6%8 1. Estimates according to February 2025 guidanc
Slide 15: 2026-2028 Business Plan
FY 2025 Results 2026-2028 Business Plan
Slide 16: 2026 - 2028 Growth Pillars & Levers
2026 - 2028 Growth Pillars & Levers Macro Growth Pillars Key Levers environment • Organic loans: c.+7.5% CAGR Business supported Banking: • Investment securities: c.+7.5% CAGR by GDP growth Greece, Bulgaria & • Bulgaria: Euro adoption supports growth above EU avg Cyprus • Cyprus: €140m synergies1, o
Slide 17: 2026-2028: Drivers & Targets
2026-2028: Drivers & Targets Enhancing shareholder value through organic growth & acquisitions Robust Organic Growth: Payout2 up-scale • Organic loans: c.+7.5% CAGR RoTBV1 • Investment securities: c.+7.5% CAGR 2023-25: 2026-28: • Fees: +7% CAGR c.17% €1.7bn €2.6bn 2028e c.+50% Recent Acquisitions: •
Slide 18: Growing returns to scale-up distributions
Growing returns to scale-up distributions RoTBV1 Cumulative distributions3 (€ bn) c.+50% 18.5% 18.1% c.17.0% 16.0% c.2.6 c.15.0% Previous BP projection2 1.7 11.4% 8.2% FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 2023-25 2026-28 1. Adjusted net profit. 2. According to February 2025 guidance. 3. Subject t
Slide 19: 2026 - 2028 financial goals
2026 - 2028 financial goals FY25 FY26E FY28E Core Operating Profit1 €1.75bn c.€1.9bn c.€2.3bn RoTBV2 16.0% c.16.0% c.17.0% EPS €0.37 c.10% CAGR Payout ratio3 55% 55% ≥ 55% CET14 15.6%5 >14.0% 1. Core Operating profit= Core PPI minus loan loss provisions. 2. Adjusted net profit post AT1 coupon paymen
Slide 20: Business plan assumptions
Business plan assumptions GDP growth (%, 2025-2028) Interest Rates & other 2025E 2026E 2027E 2028E Greece, Cyprus and Bulgaria ECB DFR (EoP) 2.00% 2.00% 2.00% 2.25% continue outperforming the EU ECB DFR (Avg) 2.25% 2.00% 2.00% 2.22% Euribor 3M (Avg) 2.16% 1.93% 2.13% 2.34% Chart Title Inflation y-o-
Slide 21: Volumes
Volumes Δ Loans (organic Δ)1 2026 - CAGR 2025 y-o-y 2026E Deposits (€ bn) 2028E (%) (%) Group c. 4.0% CAGR Retail 0.1 1.1 0.3 1.0 3.0 • Greece c. 2.5% CAGR Corporate 3.6 19.9 1.6 5.0 7.5 • Int’l c. 5.0% CAGR Greece 3.7 12.7 c.1.8 c.6.0 c.6.0 SEE 1.7 9.5 c.2.0 c.6.3 c.10.5 o/w Bulgaria 1.2 14.8 1.0 2
Slide 22: Loan and Deposit Spreads
Loan and Deposit Spreads Δ Performing loan spreads1 Δ Deposit spreads bps FY25 Δ FY26E Δ 3yr bps FY25 Δ FY26E Δ 3yr Greece 231 c.(15) c.(35) Greece 170 c.(15) c.+20 o/w Corporate 188 c.(15) c.(35) SEE 159 c.(20) stable SEE 244 c.(10) c.(30) Group 165 c.(15) c.+10 Group 236 c.(15) c.(35) Δ ΝΙΜ Time/
Slide 23: Net Interest Income
Net Interest Income ECB DFR (avg) 2.25% 2.00% 2.22% c.€3.0bn 2026 NII Sensitivity2: NII evolution c.55 c.€2.6bn €2.5bn c.135 • ±25bps Euribor 3M: €35m (€ m) c.(15) c.(105) FY25 Δ Rates & Δ Volumes 1 Δ Deposit Mix Δ MREL FY26E FY28E spreads 1. Including loans, deposits and bonds. 2. In excess of BP a
Slide 24: Fee and commission income
Fee and commission income Fees (€m) Fees / Assets (bps) c.100 Organic1 CAGR +7% c.90 c.90 83 c.80 CAGR c.+10.5% 75 Greece c.1,040 Group 770 FY25 FY26E FY28E c.+30% c.+6% Fees / Income (%) c.30 c.28 Δ Retail FY25 Δ Wealth mng & Δ Lending FY28E Δ Rental & other 27 c.26 c.25 Insurance 23 Greece Group F
Slide 25: Insurance business: A major driver of F&C
Insurance business: A major driver of F&C Insurance & Bancassurance fees (€ m) Eurobank Insurance footprint Country Company ( sector / ownership) Market share1 c.+40% c.200 Eurolife Life (Life / 100%) 22% Greece Eurolife P&C (P&C / 20%) 3% c.150 ERB Cyprialife (Life / 100%) 30% 70 Cyprus ERB Asfalis
Slide 26: Wealth management: Capital light fee growth
Wealth management: Capital light fee growth Managed Funds evolution (€ bn) Wealth Mng Fees (€ m) c.+24% c.170 c.+21% c.17.5 c.12.4 c.120 9.9 88 FY25 FY26E FY28E FY25 FY26E FY28E PB CAL2 evolution (€ bn) AUM/ GDP (%, 2024) c.+11% c.20.1 343.5 c.16.3 14.5 19.1 9.8 1.6 Greece Cyprus Bulgaria EU avg FY2
Slide 27: Operating Expenses
Operating Expenses OpEx (€ m) IT CapEx (€ m) C/ I 37% 35% Group IT and Digital investments 2026-28: c.+5% c.€730m CAGR c.1,450 c.260 c.245 1,258 c.225 c.40% c.30% 187 c.25% SEE c.+3% c.+11% c.+3% 40% c.70% c.75% Greece c.60% 1 60% FY25 FY28E Δ IT costs Δ HR costs other costs Δ G&A & FY25 FY26E FY27E
Slide 28: Robust Core operating profit
Robust Core operating profit 3.73% 3.38% 2.25% 2.22% 2.00% 2500 ECB DFR 0.13% (avg) -0.50% c.€2.3bn 2000 c.€1.9bn €1.8bn €1.8bn 45% €1.5bn 1500 41% 47% 51% 32% 55% 1000 €0.9bn 59% 68% 53% 32% 49% Core €0.5bn 500 68% operating SEE 39% profit 61% Greece 0 FY21 FY22 FY23 FY24 FY25 FY26E FY28E 28
Slide 29: Asset quality metrics
Asset quality metrics NPE ratio NPE coverage CoR1 (bps) 95.2% 3.5% 85 88.4% c.80.0% 86.4% 2.9% 69 2.6% 59 c.2.5% c.55 c.50 FY23 FY24 FY25 FY26E-FY28E FY23 FY24 FY25 FY26E-FY28E FY23 FY24 FY25 FY26E FY28E 1. On net loans. 29
Slide 30: Capital
Capital CAD 20.0% >18.5% c.820bps (c.190bps) (c.60bps) (c110bps) CET1 15.6%1 >14.0% (c.120bps) (c.465bps) 13.0% c.11% OCR FY25 Eurolife Organic capital Asset Intangibles DTC Shareholders' FY28E Internal mng generation2 growth (IT & Digital) acceleration reward 3 target RWAs €52bn €61bn 1. Pro forma
Slide 31: Eurobank Ltd: the largest financial services group in Cyprus
Eurobank Ltd: the largest financial services group in Cyprus • Combining the strong Hellenic Bank retail franchise & Eurobank’s Synergies capture & breakdown: leading position in Wholesale, International Banking & Wealth Mng 2025: 40% 2026: 70% 2027:100% • CNP acquisition enhances earnings capacity
Slide 32: Bulgaria: Eurozone entry supports growth
Bulgaria: Eurozone entry supports growth Supportive macro fundamentals Postbank: Earnings & Balance sheet expansion Balance sheet 2026 - CAGR • Bulgaria’s 2026 Eurozone entry drives a strategic shift toward an 2026E (€ bn) 2028E (%) investment-led and innovation-oriented economic model Loans Organic
Slide 33: FY25 results highlights
FY 2025 Results FY25 results highlights
Slide 34: FY25 results highlights: Profitability
FY25 results highlights: Profitability P&L (€ m) 4Q25 3Q25 Δ(%) FY25 FY24 Δ(%) Net interest income 646.8 631.8 2.4 2,549.0 2,507.0 1.7 ❑ Adjusted Net Profit €1,412m; reported €1,362m in FY25 Commission income 213.2 192.8 10.6 770.4 665.8 15.7 Other Income 6.0 19.8 (69.8) 52.4 69.2 (24.3) ❑ FY25 RoTB
Slide 35: FY25 results highlights: Balance Sheet
FY25 results highlights: Balance Sheet Capital • 4Q25 CET1 at 15.6%1,6, including: Key Balance sheet ratios • Organic capital generation (c.+65bps q-o-q) • Asset growth (c.-45bps q-o-q) Group (%) 4Q25 3Q25 2Q25 1Q25 4Q24 • 4Q25 Dividend accrual & interim dividend paid (c.-45bps q-o-q) Capital6 • 4Q2
Slide 36: Regional footprint
Regional footprint Contribution to Net Loans Deposits Wealth Mng Net Profit1 Contribution to Assets (€ bn) Group assets (€ bn) (€ bn) (€ bn) (€m) Group Net profit Greece 62.8 58% 36.3 45.2 13.5 671 48% Cyprus 28.7 27% 8.7 23.9 4.9 491 35% Bulgaria 13.6 13% 8.7 11.0 0.1 224 16% Lux 3% 2% 3.0 1.0 2.6
Slide 37: Core Income
Core Income Δ NII (y-o-y, € m)1 Δ Fees (y-o-y, € m) +1.7% +15.7% 150 39 2,549 2,507 99 (57) (40) 59 (149) 770 44 16 666 (2) (12) 2 Δ Loans FY24 FY25 Δ MREL & Tier II Δ other Δ Deposits Δ Central banks Δ Bonds FY24 FY25 Δ Lending Δ Rental & other Δ Wealth & Insurance Δ Capital Markets Δ Network & cre
Slide 38: Profitability
Profitability Core PPI and Provisions (€ m) Core Operating Profit2 (€ m) 1,782 1,753 2,101 2,061 Core PPI FY24 FY25 Profit before Tax3 (€ m) Loan Loss (319) (308) Provisions FY24 FY25 1,930 1,783 CoR1 69 59 (bps) FY24 FY25 1. On net loans. 2. Core Operating profit= Core PPI minus loan loss provision
Slide 39: Capital & TBV
Capital & TBV CET11 TBV per share (€) 15.7% 15.5% 15.6%2 2.54 0.05 DPS3 2.49 2.46 4Q24 3Q25 4Q25 2.31 CAD1 20.0%2 18.5% 18.9% 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 1. Accounting for payout accrual. Including period profits, subject to AGM approval. Payout subject to regulatory & AGM approval. 2. Pro forma S
Slide 40: Regional Presence
FY 2025 Results Regional Presence
Slide 41: Eurobank Ltd key P&L metrics
Eurobank Ltd key P&L metrics Core PPI & Provisions1 (€ m) FY25 Highlights1 Net profit2 €491m Core PPI 153 154 159 143 • NII at €758m • FY25 NIM at 2.71% • Commission income at €169m 1Q25 2Q25 3Q25 4Q25 Provisions (6) (3) 2 (4) • Cost – to - core income at 34.2% • Core PPI at €610m Net Profit1,2 (€ m
Slide 42: Eurobank Ltd key B/S metrics
Eurobank Ltd key B/S metrics1 Gross loans (€ bn) Key metrics 8.8 8.8 8.62 8.8 4Q25 3Q25 2Q25 1Q25 Assets (€ bn) 28.7 28.1 28.1 27.3 5.5 5.5 5.4 Business 5.3 Net loans (€ bn) 8.7 8.52 8.7 8.7 Capital 2.6 2.6 2.6 2.6 Mortgages CET13 (%) 33.9 36.4 0.7 0.7 0.7 0.7 Consumer RWAs (€ bn) 8.6 8.5 1Q25 2Q25
Slide 43: Bulgaria key P&L metrics
Bulgaria key P&L metrics1 FY25 Highlights Core PPI and provisions (€ m) Net profit2 €224m, up 8.0% y-o-y Core PPI 81 • NII up 3.4% y-o-y at €407m 78 79 73 73 • FY25 NIM at 3.27% • Commission income up 13.1% y-o-y at €94m • Cost – to - core income at 37.9% • Core PPI at €311m, up 8.6% y-o-y 4Q24 1Q25
Slide 44: Bulgaria key B/S metrics
Bulgaria key B/S metrics1 Gross loans (€ bn) Key metrics 8.4 8.7 8.9 7.8 8.2 4Q25 3Q25 2Q25 1Q25 4Q24 3.7 3.7 3.7 Business Assets (€ bn) 13.6 12.7 12.4 12.1 11.5 3.5 3.6 Net loans (€ bn) 8.7 8.5 8.2 8.0 7.6 2.4 2.5 2.7 2.8 3.0 Mortgages Capital 1.9 2.0 2.1 2.1 2.2 Consumer CET1 (%)2 20.4 21.7 21.3 2
Slide 45: Balance sheet
FY 2025 Results Balance sheet
Slide 46: Balance sheet composition
Balance sheet composition Assets (€ bn) Liabilities and Equity (€ bn) 108.0 108.0 54.7 Net loans Deposits 82.7 Investment Securities 25.4 Other3 4.0 2.4 Wholesale funding 3.9 Placements to banks Senior notes 5.5 Cash & Central banks 15.6 1.2 Tier II Investment property 1.3 Equity4 10.6 DTA1 3.6 PP&E
Slide 47: Securities portfolio
Securities portfolio Breakdown per issuer Breakdown per classification FVTPL & CLOs (AAA), 7% Trading, 6%1 FVTPL & Trading, 6%1 Covered FVOCI, 16% Bonds; 9% Greek Sovereign, 23% Financial Institutions, € 25.4bn € 25.4bn 8% Amortized Cost, 78% Corporate bonds; 9% EU Governments, Other 31% Sovereign,
Slide 48: Gross Loans
Gross Loans Breakdown by country (€ bn) Breakdown by type (€ bn) Organic1 growth +€2.1bn q-o-q; +€5.3bn in FY25 (+11.6% y-o-y) 56.0 56.0 53.1 53.6 54.3 Lux 53.1 53.6 54.3 52.3 52.3 4.0 Senior Notes 8.8 Cyprus 4.2 4.1 4.4 4.3 8.8 8.8 8.6 8.8 8.9 Bulgaria 8.2 8.4 8.7 7.8 32.6 34.3 Business 30.9 31.7 3
Slide 49: Deposits
Deposits Breakdown by country (€ bn) Time / Total 36% 36% 34% Deposits up €3.7bn q-o-q; up €4.1bn in FY251 (+5.2% y-o-y) 33% 33% Group 33% 32% Greece 82.7 31% 29% 30% 78.6 77.1 78.2 79.0 Lux 4Q24 1Q25 2Q25 3Q25 4Q25 23.9 Cyprus 23.6 23.2 23.3 23.3 11.0 Bulgaria 8.8 9.0 9.4 9.7 Breakdown by customer
Slide 50: Liquidity
Liquidity Net loans / Deposits ratio Net ECB position (€ bn) 67.0% 66.9% 66.9% 66.1% 64.8% 16.1 14.2 14.9 14.6 13.3 4Q24 1Q25 2Q25 3Q25 4Q25 FY24 1Q25 1H25 9M25 FY25 Liquidity coverage ratio (LCR) HQLAs1 Cash , Level 2 Assets, 4% 1% 188.2% 190.5% 182.8% € 24.2 bn 180.4% Securities, Central Banks dep
Slide 51: MREL position
MREL position MREL (% RWAs) MREL buffer of c.230bps • 4Q25 MREL ratio at 30.2% of RWAs; c.230bps above the MREL target of 27.9%2 30.2 27.9 • €600m Additional Tier I issued in November 2025, fully utilizing the Senior preferred 10.2 4.4 CBR1 Bank’s AT1 capacity liabilities2 Tier 2 2.3 • In Jan. 2026,
Slide 52: Wealth Management
Wealth Management Managed Funds (AuM, € bn) Private Banking (CAL1 per booking, € bn) +12% +30% 14.5 14.0 13.2 13.5 13.0 9.9 4.8 9.3 4.8 Greece 4.3 4.4 4.6 8.5 8.1 7.6 Own Mutual Funds 6.7 4.7 6.5 3.9 3.9 4.2 4.4 Cyprus 5.8 6.1 5.5 1.5 3rd party Funds 4.8 4.9 4.9 5.0 Luxembourg 1.4 4.7 1.2 1.2 1.1 1.
Slide 53: Profitability
FY 2025 Results Profitability
Slide 54: Loan spreads & rates
Loan spreads & rates Client rates (bps) Lending spreads (bps)1 Greece 4Q24 1Q25 2Q25 3Q25 4Q25 Greece 4Q24 1Q25 2Q25 3Q25 4Q25 Corporate 554 496 464 432 423 Corporate 200 197 190 184 181 Retail 556 522 498 482 479 Retail 299 302 313 317 311 Consumer 1,003 1,015 1,025 1,016 1,038 Consumer 722 766 812
Slide 55: Net Interest margin & deposit spreads
Net Interest margin & deposit spreads Net Interest margin (bps) Deposit spreads (Greece, bps) 312 4Q24 1Q25 2Q25 3Q25 4Q25 SEE 293 282 275 275 Savings & Sight 303 257 207 189 190 270 Group 253 250 246 245 Time 98 91 78 66 64 Greece 240 Total 238 205 168 154 154 224 226 225 224 4Q24 1Q25 2Q25 3Q25 4Q
Slide 56: Net Interest Income
Net Interest Income NII breakdown (€ m)1 Δ NII (q-o-q, € m)1 FY25 NII up 1.7% y-o-y 3Q25 632 4Q24 1Q25 2Q25 3Q25 4Q25 Δ Loans 6 Loans 645 593 589 571 577 Bonds 202 207 200 203 209 Δ Bonds 5 Central banks 100 89 65 61 57 Money Market & (6) 1 12 12 10 Δ Central banks (5) Repos Senior notes (56) (63) (
Slide 57: Commission Income
Commission Income Commission income breakdown (€ m) Commission income per region (€ m) FY25 commission income up 15.7% y-o-y Fees/ assets (bps) 86 67 77 75 81 215 213 215 213 195 193 195 193 65bps / 75 169 36 65 Lending 62 37 assets 169 72 38 75 69 SEE 61 83 82 63 Transactions 76 & credit cards 66 9
Slide 58: Operating expenses
Operating expenses OpEx per region (€ m) OpEx breakdown (Greece, € m) FY25 OpEx up 17.4% y-o-y, up 5.0% l-f-l1 328 714 317 304 316 663 310 40 Depreciation 131 38 138 137 138 139 SEE 128 IT2 120 146 Administrative 180 168 172 177 197 Greece 134 4Q24 1Q25 2Q25 3Q25 4Q25 371 400 Staff Cost –to- core in
Slide 59: Pre-provision income (PPI)
Pre-provision income (PPI) Core PPI and other income (€ m) Δ Core PPI (q-o-q, € m) (2) 20 7 20 6 Other income 575 503 518 508 532 600 15 20 247 508 532 247 235 240 230 SEE 500 (11) 328 267 278 279 285 Greece 400 4Q24 1Q25 2Q25 3Q25 4Q25 300 200 PPI per region (€ m) 100 573 523 525 528 538 0 3Q25 Cor
Slide 60: Core Operating Profit
Core Operating Profit Δ Core Operating Profit (y-o-y, € m) Core Operating Profit per region (€ m) Core Operating 1,782 1,753 Profit 42 105 485 2,101 2,061 462 Core PPI 439 Lux 426 426 (187 ) 182 155 Cyprus 148 151 146 60 66 Bulgaria 59 66 66 232 Greece Loan Loss 235 (319) (308) 209 213 207 Δ Fees Δ
Slide 61: Asset Quality
FY 2025 Results Asset Quality
Slide 62: Asset quality metrics
Asset quality metrics NPE formation1 (€ m) NPE ratio (%) Δ NPE stock 68 4 (37) 34 (97) (q-o-q, €m) 2.9% 2.9% 47 48 45 2.8% 2.8% 42 2.6% SEE 12 Greece 4Q24 3 1Q25 3 2Q253 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25 Loan loss provision (€ m) NPE coverage (%) 72 59 61 63 52 Cost of Risk2 120 (bps) 91 92.8% 94.0
Slide 63: NPE metrics (Group)
NPE metrics (Group) 90dpd bridge to NPE (€ bn) NPE per region Provisions & NPE Total NPE NPE ratio collaterals / coverage 0.2 1.4 NPE 0.5 (€ m) (%) (%) (%) 0.7 Consumer 93 5.2 118 118 (1.4) Mortgages 397 5.5 123 218 Small Business 259 9.5 72 145 0.1 Corporate 306 1.2 83 165 2 90dpd NPF 0- UTP NPE St
Slide 64: Loans’ stage analysis (Group)
Loans’ stage analysis (Group) Loans’ stage breakdown Provisions stock over NPE (€ bn) 4Q24 1Q25 2Q25 3Q25 4Q25 92.8% 94.0% 95.2% Stage 1 45.5 46.3 46.8 47.6 49.6 88.4% 89.1% Stage 2 4.9 4.9 5.0 5.0 4.9 Stage 3 (NPE) 1.5 1.5 1.5 1.5 1.4 2 Total 52.1 52.9 53.4 54.3 56.01 4Q24 1Q25 2Q25 3Q25 4Q25 Stage
Slide 65: Capital
FY 2025 Results @ EUROBANK Capital
Slide 66: Capital ratios (CET1, q-o-q)
Capital ratios (CET1, q-o-q) 65bps 15.5% 28bps 10bps 15.6%2 (44bps) (46bps) (8bps) 13.0% 10.7% 2026 OCR 3Q25 1 4Q25 4Q25 3 Asset DTC 4 Synthetic Other 4Q251 Internal mng Net Profit Payout Accrual Growth securitization target RWAs 51,814 52,245 (€ m) Capital 8,049 8,132 (€ m) 1. Including period prof
Slide 67: Capital ratios (CAD, q-o-q)
Capital ratios (CAD, q-o-q) 20.0%2 117bps 33bps 10bps 65bps 18.9% 2.3% Tier II (44bps) (59bps) Tier II 2.4% (8bps) 2.1% AT1 AT1 1.0% CET1 15.5% 15.6% CET1` 3Q25 1 4Q25 4Q25 Asset Growth DTC 4 AT1 Synthetic Other 4Q25 1 Net Profit Payout 3 securitization accrual RWAs 51,814 52,245 (€ m) Capital 9,774
Slide 68: Sustainability
FY 2025 Results Sustainability https://www.eurobank.gr/en/group/esg-environment-society-governance
Slide 69: The universe of our 2025 Sustainability Reporting
The universe of our 2025 Sustainability Reporting Responding to our stakeholders’ expectations and interests, we provide comprehensive and transparent information about our actions and performance. Eurobank Group has published its 1st CSRD Sustainability Statement in March 2025, as an integral part
Slide 70: Group Sustainability Strategy Update
Group Sustainability Strategy Update Eurobank has initiated a structured process to review and update its Group Sustainability Strategy. The Objective is to build on the existing Sustainability Strategy, further strengthen its effectiveness and embed sustainability more deeply across the Group’s ope
Slide 71: Highlights of 2025
Highlights of 2025 • Successfully accomplished its Sustainability Strategy and met its targets, highlighting its steadfast commitment to environmental and social responsibility • Soaring Sustainability Ratings underscore the success to align our strategy and policies to best sustainability practices
Slide 72: Financed Impact Strategy – Key Targets
Financed Impact Strategy – Key Targets Targets Portfolio Status As of 31/12/2025 €2 billion in new green disbursements to corporates by 2025 (for 2023-2025 period) > €3.3 bn 20% of the annual new Corporate & Investment Banking (CIB) portfolio disbursements to be classified as green/ c. 20% environme
Slide 73: Financed Impact Strategy – Key Achievements
Financed Impact Strategy – Key Achievements Sustainable Enhancement of our Sustainable Finance Framework and development of a complementary Transition Financing Finance Framework, establishing a comprehensive and market-aligned sustainable financing offering. Development of the first wave of sectora
Slide 74: Financed Impact Strategy – Key Figures
Financed Impact Strategy – Key Figures FY 2025 FY 2024 Key Areas Key Figures Metric Metric Changes 3.8% 2.6% +1.2% GAR Taxonomy-aligned Exposure € 3.0bn € 1.9bn € +1.1bn GAR & Taxonomy alignment Of which Non-Financial Corporations € 2.7bn € 1.8bn € +0.9bn Of which Financial Corporations € 0.2bn € 0.
Slide 75: Financed Impact Strategy – The pathway to Net Zero
Financed Impact Strategy – The pathway to Net Zero As part of its strategic roadmap, Eurobank is currently developing a comprehensive transition plan that will cover key areas and sectors within the Group portfolio, supporting its long-term sustainability and Net Zero goals. This initiative compleme
Slide 76: Operational Impact Strategy Highlights – Environment (1/3)
Operational Impact Strategy Highlights – Environment (1/3) • 32,709 MWh total electricity consumption • 3.15% reduction in total electricity consumption compared to 2024 • 98.04% of total electricity consumed was sourced from Renewable Energy Sources (Certified Guarantees of Origin plus own producti
Slide 77: Operational Impact Strategy Highlights – Social (2/3)
Operational Impact Strategy Highlights – Social (2/3) Inclusive Entrepreneurship • 460 startups and over 1,600 entrepreneurs have been supported through the egg Accelerator since 2013 • Over €13 million Eurobank’s investment in egg over the past 13 years • €58.3 million turnover comes from 162 egg a
Slide 78: Operational Impact Strategy Highlights – Governance & Business (3/3)
Operational Impact Strategy Highlights – Governance & Business (3/3) Sustainable Procurement • 87,5% of tenders evaluated by the Non-IT Procurement Unit already include sustainability criteria, while the IT Procurement Unit accounts for 94%. Overall, the incorporation of sustainability criteria in R
Slide 79: Sustainability Ratings
Sustainability Ratings Sustainalytics – Eurobank has been ranked in the highest risk category "Negligible“", making it the first Greek bank to receive this top rating. Achieving the important ESG Regional Top Rated 2025 and ESG Industry Top Rated 2025 distinctions, Eurobank is placed among the top 4
Slide 80: Awards & Distinctions
Awards & Distinctions • Best Bank in Greece - Euromoney Awards for Excellence 2024 • Best Bank in Greece for 2025 - Global Finance magazine • ESG Industry Top Rated 2025 and ESG Regional Top Rated 2025 - Sustainalytics’ 2025 ESG Top-Rated Companies List • Best Bank for Sustainable Finance in Greece
Slide 81: Participation to Sustainability Initiatives
Participation to Sustainability Initiatives UNEP FI Hellenic Bank Association UNEP FI participant since 2005; Member of the Coordinating Committee founding signatory to the Principles for for Sustainable Development, Green Responsible Banking since 2019. Banking and Corporate Governance. UN SDGs CSR
Slide 82: Macroeconomic update
FY 2025 Results Macroeconomic update
Slide 83: Macro highlights (Greece)
Macro highlights (Greece) ▪ GDP growth remained solid in Jan-25 to Sep-25 (2.0% y-o-y vs 1.5% y-o-y in the Euro Area); EC expects FY growth at 2.2% for 2025 and forecasted at 2.4% for 2026, continuing to over-perform the Euro Area (expected at 1.3% and 1.2% in 2025 and 2026 respectively) ▪ HICP annu
Slide 84: Real GDP growth continues to overperform the Euro Area
Real GDP growth continues to overperform the Euro Area Annual % change Greece EA January to September 2025 GDP 2.0 1.5 Private consumption 2.5 1.4 Government consumption 1.8 1.8 Gross Capital Formation -6.7 4.7 Gross Fixed Capital Formation 6.4 2.7 Exports 1.5 1.9 Exports of goods 1.4 2.1 Exports of
Slide 85: Labour Market (Greece)
Labour Market (Greece) The unemployment rate continues to decline amid labor shortages, Employment remains on an upward trajectory reducing the gap with the Euro Area contributing positively to households’ disposable incomes Recovery of productivity requires continued implementation of Long term une
Slide 86: High frequency indicators: Greece vs the Euroarea
High frequency indicators: Greece vs the Euroarea Sources: IOBE, S&P Global, Eurobank Research 86
Slide 87: Real estate: apartment prices & retail and office prices (Greece)
Real estate: apartment prices & retail and office prices (Greece) Source: BoG, ELSTAT, Eurostat 87
Slide 88: Real estate market dynamics (Greece)
Real estate market dynamics (Greece) Mortgage loans by Greek MFIs to domestic households Apartment Price Index over household Real estate market volumes gross disposable income per capita annual flows, EUR bn sale deeds registered, thousand 17.5 17.5 110 2007 = 100 225 15.0 15.0 200 12.5 12.5 175 10
Slide 89: Fiscal and current account balances (Greece)
Fiscal and current account balances (Greece) ▪ GG primary surplus of 2.0% and 4.7% of GDP in 2023 and 2024; estimated at 4.3% of GDP in 2025 and forecasted at 3.4% in 2026 (EC, November 2025) ▪ Current account deficit at -7.2% of GDP in 2024, from -6.8% of GDP in 2023 and -10.7% in 2022; estimated a
Slide 90: Sovereign debt profile (Greece)
Sovereign debt profile (Greece) General Government gross public debt ▪ Greece's Gross Public Debt is expected to decrease to 147.6% of GDP in (% of GDP, ESA terms) 2025, 142.1% and 138.0% of GDP in 2026 and 2027 respectively, on a steady decline from a peak of 209.4% in 2020 (EC, November 2025) ▪ Gr
Slide 91: Cyprus
Cyprus ▪ Strong GDP growth acceleration to 4.5% y-o-y in 4Q25 (2nd highest in the EU), from 3.6% y-o-y in 3Q25 ▪ FY2025 growth to 3.8% from 3.4% in 2024. ▪ Unemployment at 4.1% in 3Q25, a 17-year low for this period of the year ▪ Resilience in tourism: All-time high in travelers in 2025 with a stron
Slide 92: Bulgaria
Bulgaria ▪ Mild growth slowdown in 4Q25, to 2.9% y-o-y, from 3.1% y-o-y in 3Q25, due to a deterioration in the external balance ▪ FY2025 growth to 3.2%, down from 3.4% in 2024. ▪ Following the measures taken in August, inflation decelerated to 2.3% y-o-y in January 2026 from 4.0% y-o-y in September
Slide 93: Appendix I – Supplementary information
FY 2025 Results Appendix I – Supplementary information
Slide 94: Credit ratings
Credit ratings Greek Sovereign Cyprus Sovereign Bulgaria Sovereign Eurobank Eurobank Credit Rating Credit Rating Credit Rating Long Term Outlook Baa3 A3 Baa1 Baa1 Stable BBB A- BBB+ BBB- Positive BBB A- BBB+ BBB- Positive BBB A BBB high BBB Positive Note: Moody’s: Long term senior unsecured debt rat
Slide 95: Summary performance
Summary performance Balance sheet – key figures Income statement – key figures €m 4Q25 3Q25 €m 4Q25 3Q25 Gross customer loans 55,977 54,262 Net interest income 646.8 631.8 Provisions (1,309) (1,387) Commission income 213.2 192.8 Loans FVTPL 23 23 Operating income 865.9 844.4 Net customer loans 54,66
Slide 96: Consolidated quarterly financials – Income statement
Consolidated quarterly financials – Income statement (€ m) 4Q25 3Q25 2Q25 1Q25 4Q24 Net Interest Income 646.8 631.8 632.5 637.9 677.3 Commission income 213.2 192.8 195.2 169.2 215.3 Other Income 6.0 19.8 6.6 20.0 (2.3) Operating Income 865.9 844.4 834.4 827.1 890.3 Operating Expenses (327.7) (316.3)
Slide 97: Consolidated quarterly financials – Balance sheet
Consolidated quarterly financials – Balance sheet (€ m) 4Q25 3Q25 2Q25 1Q25 4Q24 Consumer Loans 4,816 4,767 4,687 4,591 4,535 Mortgages 12,934 12,865 12,750 12,515 12,474 Household Loans 17,750 17,631 17,438 17,106 17,008 Small Business Loans 3,571 3,526 3,605 3,557 3,586 Corporate Loans 30,721 29,1
Slide 98: Consolidated financials
Consolidated financials Income Statement (€ m) FY25 FY24 Δ y-o-y (%) Net Interest Income 2,549.0 2,507.0 1.7 Commission income 770.4 665.8 15.7 Other Income 52.4 69.2 (24.3) Operating Income 3,371.8 3,242.0 4.0 Operating Expenses (1,258.0) (1,071.4) 17.4 Pre-Provision Income 2,113.8 2,170.6 (2.6) Lo
Slide 99: SEE operations key figures – 4Q25
SEE operations key figures – 4Q25 Bulgaria Cyrpus Lux Sum Assets 13,580 28,742 3,032 45,354 Gross loans 8,889 8,756 1,009 18,654 Balance Sheet Net loans 8,691 8,652 1,009 18,352 (€m) NPE loans 209 162 0 371 Deposits 11,045 23,928 2,566 37,539 CAD1 22.1% 36.3% 26.3%4 Core Income 129.9 230.4 16.7 377.
Slide 100: Appendix II – Glossary
FY 2025 Results Appendix II – Glossary
Slide 101: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios This document contains financial data and measures as published or derived from the published consolidated financial statements which have been prepared in accordance with International Fina
Slide 102: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios Adjusted net profit: Net profit/loss attributable to equity holders of the parent company excluding restructuring costs, goodwill impairment / gain on acquisition, gains/losses related to th
Slide 103: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios Fees & commissions over assets ratio: The Fees and commissions of the reported period, annualized and divided by the average balance of continued operations’ total assets (the arithmetic ave
Slide 104: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios NPE Coverage ratio: Impairment allowance for loans and advances to customers and impairment allowance for credit related commitments (off balance sheet items), divided by NPEs at the end of
Slide 105: Investor Relations contacts
Investor Relations contacts Dimitris Nikolos +30 214 4058 834 dnikolos@eurobank.gr Yannis Chalaris +30 214 4058 832 ychalaris@eurobank.gr Christos Stylios, CFA +30 214 4058 833 cstylios@eurobank.gr Constantinos Pittalis c.pittalis@eurobank.cy Investor Relations Division +30 214 4058 834 investor_rel