Optima Bank Sa · ATHEX:OPTIMA
Optima Bank Sa — H1 2025 Earnings Presentation
40 slides from Optima Bank Sa's earnings presentation, Aug 1, 2025
Slide 1: 1H 2025 Results
1H 2025 Results 1 August 2025
Slide 2: 1H 2025 results run rate fully aligned with the FY 2025 guidance
1H 2025 results run rate fully aligned with the FY 2025 guidance €81.1mn 25.8% +18% YoY vs 26.7% in 1H24 Net Profit ROTE €4.2bn €5.2bn TCR * Loans Δ Depos Δ €1.2bn €1.5bn 16.40% 1.48% +39% YoY +40% YoY Loans Deposits Capital NPEs *Capital ratio incorporates period profits, dividend provision and Bas
Slide 3: Key 1H 2025 highlights
Key 1H 2025 highlights Strong revenue generation Another quarter with NII growth (+5% QoQ) Unabated volume growth Loans +39% YoY, Deposits +40% YoY, AuM +29% YoY €150mn Tier 2 issue First time issuance by the bank; coupon at 5.5%; 11.1x oversubscribed Top class NIM At 3.47%, Optima’s NIM stands ~1pp
Slide 4: First time rating by Moody's recognizes best in class financial profile
First time rating by Moody’s recognizes best in class financial profile Optima bank Market* Difference Financial Profile A3 Baa3 + 3 notches Assigned BCA Ba3 Ba1 - 2 notches Tier 2 Rating B1 Ba1 - 3 notches Best-in-Class Financial Profile of A3 3 notches higher than the average of the market reflect
Slide 5: Strong core performance drove net profit growth in the double digits
Strong core performance drove net profit growth in the double digits Key P&L items €mn 2Q 2025 1Q 2025 QoQ YoY 1H 2025 1H 2024 YoY NII 51.7 49.5 5% 10% 101.2 91.5 11% Fees 13.3 12.1 10% 43% 25.5 19.1 33% Total revenues 71.9 68.4 5% 15% 140.3 121.5 16% Opex 16.0 16.2 -1% 28% 32.3 26.6 21% PPI 55.9 52
Slide 6: KPIs
KPIs Key performance indicators 2Q 2025 1Q 2025 1Η 2025 1Η 2024 NIM 3.47% 3.53% 3.43% 4.36% NFM 0.89% 0.86% 0.86% 0.91% Cost to core income 24.6% 26.3% 25.5% 25.4% Cost of Risk 0.56% 0.52% 0.54% 0.52% RoTE 26.0% 24.8% 25.8% 26.7% Loans/deposits 80.7% 82.1% 80.7% 81.5% Total Capital 16.40% 13.42% 16.
Slide 7: We increased 1H 2025/2Q 2025 new loan generation by 40%/61% YoY
We increased 1H 2025/2Q 2025 new loan generation by 40%/61% YoY Gross loans grew 39% YoY New loan disbursements Δ +335 +269 +245 +350 +313 +276 €mn +61% €mn 4,245 3,970 945 937 3,657 3,307 1,027 775 3,062 927 2,793 891 663 2,458 802 580 759 701 667 3,042 3,219 2,505 2,767 2,092 2,303 1,791 FY2023 1Q
Slide 8: Strong pick up in deposits in Q2
Strong pick up in deposits in Q2 Deposits grew 40% YoY Time deposits share in the mix Δ +139 +384 +417 +511 +130 +419 59% 58% €mn 5,192 4,643 4,773 4,132 55% 3,715 55% 3,192 3,331 3,200 3,584 2,967 52% 2,757 2,155 2,519 51% 2,005 1,374 1,676 1,573 1,609 1,187 1,175 1,196 FY 2023 1Q 2024 1H 2024 9M 2
Slide 9: AuM up by 29% YoY at €4.7bn
AuM up by 29% YoY at €4.7bn Total AuM* at €4.7bn Significant increase in Optima mutual funds inflows in 2025 €mn €mn +29% +72% 70.1 279.4 4,747 4,152 4,308 181 3,968 3,681 195 186 166 166 11.8 30.4 197.5 3,200 3,756 2,910 3,045 2,697 162.0 5.1 579 635 616 566 395 239 257 295 356 415 1H 2024 9M 2024
Slide 10: The Balance Sheet expanded by 38% YoY
The Balance Sheet expanded by 38% YoY 1H 2025 assets grew 38% Tangible Equity (€m) €mn €mn 648 648* 1H 2024 1H 2025 Δ 609 499 Cash & Cash at banks 759 1,091 332 144 Securities 601 798 197 243 355 Net Loans 3,029 4,190 1,161 148 118 Assets 4,529 6,250 1,721 Deposits 3,715 5,192 1,477 2020 2021 2022 2
Slide 11: Ample liquidity with zero ECB funding
Ample liquidity with zero ECB funding Strong Liquidity Metrics HQLAs 1H 2025 LDR 82% 79% 78% 82% 81% Other securities 4% Government 262.6% 263.0% 271.7% 246.5% bonds 31% 228.6% €1,136mn Cash & Cash at Central Bank 128.8% 128.7% 127.1% 125.8% 132.6% 65% 1H 2024 9M 2024 FY 2024 1Q 2025 1H 2025 €mn LCR
Slide 12: Customer satisfaction at the core of our business model
Customer satisfaction at the core of our business model NPS (Net Promoter Score) Consistently high NPS 12M rolling 88.63 50 40 60 30 70 20 80 7.47 10 84.73 90 2023 2024 2025 3.90 0 100 NPS measures the loyalty of customers to a company First developed in 2003 by Bain and Company Management Consu
Slide 13: We reiterate our 2025 guidance
We reiterate our 2025 guidance We target a ~€1.25bn increase in deposits We want to grow our net loan balances by ~€1.0bn ~27% ~27% 5,900 4,600 5,192 4,190 3,613 4,643 FY 2024 1H 2025 FY 2025e FY 2024 1H 2025 FY 2025e We estimate 2025e net profit to be in excess of €160mn Other key assumptions ROTE
Slide 14: Financial Analysis
Optima bank Financial Analysis 14
Slide 15: 1H Core income grew 14% at €108.1mn on the back of healthy growth in NII and fees
1H Core income grew 14% at €108.1mn on the back of healthy growth in NII and fees NII grew 10% YoY Fees grew 43% YoY NIM 4.37% 3.47% NFM 0.87% 0.89% €mn €mn 0.7 13.3 1.3 0.6 5.2 51.7 -0.7 2.0 -0.4 47.0 9.3 2Q 2024 Loans Securities Deposits Other/Interbank 2Q 2025 2Q 2024 Loans/LGs MFs/Brokerage Othe
Slide 16: Rates drop more than offset by loan growth and deposits tailwinds; 2Q 2025 NII +10% YoY
Rates drop more than offset by loan growth and deposits tailwinds; 2Q 2025 NII +10% YoY NII Breakdown €mn 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Loans 51.4 54.5 54.3 55.3 56.6 +10% YoY Fixed income 6.1 6.0 6.3 7.0 6.8 Loan income Δ YoY Deposits -13.3 -15.6 -15.9 -15.8 -14.0 coming from: • -€13.2mn
Slide 17: Fees grew 43% YoY with most lines increasing in the double digits
Fees grew 43% YoY with most lines increasing in the double digits NFI Breakdown €mn 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Loans 1.8 2.4 3.0 2.6 2.9 +59% YoY LGs 3.0 3.3 3.6 3.9 4.0 • Higher fees from loans, following another quarter of Brokerage 2.1 1.9 2.9 2.8 2.9 strong credit expansion • Fees f
Slide 18: Cost efficiency remains top class
Cost efficiency remains top class Operating expenses Cost to core income 535 549 575 590 605 FTEs (#) €mn 16.7 16.2 16.0 27.5% 14.5 2.3 2.2 2.3 26.3% 12.5 2.0 2.1 4.6 5.4 24.7% 24.6% 4.9 24.3% 4.5 3.0 9.8 8.7 8.9 7.5 8.0 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Staff Costs G&A Costs Depreciation 2Q 2
Slide 19: Balance sheet structure
Balance sheet structure Assets Liabilities & Equity 4,529 6,250 6,250 4,529 €mn 171 245 €mn Other 140 172 Net Loans 4,190 Other liabilities Securities 5,192 Deposits Due from Banks 3,029 Due to banks Cash 3,715 Equity 798 601 310 107 155 94 652 781 659 548 1H 2024 1H 2025 1H 2025 1H 2024 19
Slide 20: Loan book structure and rates
Loan book structure and rates Loan book rate Gross loans breakdown 1H 2025 5.9% Households Pass-through rate at 91% 2.3% Admin and support services 3.4% Professional, scientific and technical activities 7.05% 7.06% 6.95% 6.91% 4.8% Information and communication 6.74% 6.49% 5.1% Other 6.26% 6.6% Tran
Slide 21: Loan book breakdown
Loan book breakdown Retail Wholesale Consumer/margin SMEs - Mortgages Revolving 5% 15% 15% SMEs - Term 24% BB - €1,027mn €3,219mn Revolving 29% Large BB - Term Corporates - Large 51% Revolving Corporates - 26% Term 35% 21
Slide 22: Deposit mix and rates
Deposit mix and rates Deposits movement Deposits mix 622 5,192 443 182 231 3,715 Retail, Time; Retail, 38% Demand 31% Corporate, Retail, Demand 1H 2025 €5,192mn 1H 2024 Demand Corporate, Time Retail, Time Corporate, Demand 14% Deposits rate Corporate, 1.63% 1.68% 1.62% 1.43% 1.47% Time 17% 1.30% 1.1
Slide 23: Well diversified securities book
Well diversified securities book Securities book mix Breakdown per classification FVTPL 26% GGBs 10% €798mn OCI 6% T-Bills 18% AMOC 68% Other non sovereings €798mn 46% Other Securities over assets sovereigns 27% 13.3% 13.1% 13.1% 12.9% 12.8% 1H 2024 9M 2024 FY 2024 1Q 2025 1H 2025 23
Slide 24: Asset Quality
Optima Asset Quality 24
Slide 25: NPLs stable in Q2, NPEs increased ....
NPLs stable in Q2, NPEs increased …. Cost of Risk NPE/NPL ratio (bps) 33 45 113 52 56 39* NPE NPL 1.48% 9.8 1.03% 0.92% 0.89% 0.90% 0.85% 5.7 5.0 0.62% 0.46% 3.6 0.43% 0.41% 2.4 1H 2024 9M 2024 FY 2024 1Q 2025 1H 2025 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 *Recurring cost of risk 25
Slide 26: ....but mostly at 0dpd
….but mostly at 0dpd Stage 3 coverage NPE buckets 197% >90dpd 189% 169% 31% 167% 48% 149% 28% 30% 55% 121% 34% 0 dpd 34% €62.7mn 49% 139% 139% 149% 134% 114% 87% 1-89dpd 1Q 2024 1H 2024 9M 2024 FY 2024 1Q 2025 1H 2025 19% Collateral coverage Cash coverage 26
Slide 27: Capital
Optima Capital 27
Slide 28: Inaugural Tier 2 issuance leads TCR at 16.4%
Inaugural Tier 2 issuance leads TCR at 16.4% TCR trajectory RWA density 78% 75% 3.7% 72% 72% -0.6% 71% 2.0% 16.4% -2.4% -0.6% 14.3% 1H 2024 9M 2024 FY 2024 1Q 2025 1H 2025 RWA evolution €mn FY 2024 Organic Dividend T2 B4 impact RWAs 1H 2025 1,476 3 4,712 -38 A Tier 2 capital instrument of ~€150mn wa
Slide 29: Sustainability
Optima Sustainability 29
Slide 30: Our sustainability performance
Our sustainability performance ✓ 29% Renewable Energy Consumption (based on energy suppliers’ energy mix) Energy ✓ 69.5% Hybrid & electric cars of the total transition ✓ Green Asset Ratio: 1.3% (turnover)/ 2.5% (CAPEX) ✓ 11% of total loans in Renewables ✓ 49% women representation Driven for a Create
Slide 31: Appendix
Optima Appendix 31
Slide 32: Income Statement
Income Statement in EURmn 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Net interest income 44.5 47.0 49.6 48.8 49.5 51.7 Net fee and commission income 9.8 9.3 10.1 12.1 12.1 13.3 Core Income 54.3 56.3 59.8 60.8 61.6 65.1 Other income 0.5 1.4 0.9 0.9 2.5 1.5 Trading Income 4.2 4.7 5.9 5.0 4.3 5.3
Slide 33: Income Statement
Income Statement in EURmn 1Q 2024 1H 2024 9M 2024 FY 2024 1Q 2025 1H 2025 Net interest income 44.5 91.5 141.1 189.9 49.5 101.2 Net fee and commission income 9.8 19.1 29.3 41.3 12.1 25.5 Core Income 54.3 110.6 170.4 231.2 61.6 126.7 Other income 0.5 2.0 2.8 3.7 2.5 4.0 Trading Income 4.2 8.9 14.8 19.
Slide 34: Balance Sheet
Balance Sheet in EURmn 1Q 2024 1H 2024 9M 2024 FY 2024 1Q 2025 1H 2025 Cash & Cash at C.B. 414 759 847 969 842 1,091 Securities 719 602 637 728 748 800 Net Loans 2,764 3,029 3,272 3,613 3,920 4,190 PP&E 11 10 10 11 10 10 Intangible Assets 11 11 10 11 11 11 RoU assets 22 18 19 20 20 19 DTA 8 7 8 10 1
Slide 35: Macro environment is supportive
Macro environment is supportive CPI Jan 2022 - June 2025 GDP Jan 2022 – 1Q 2025 Source: Hellenic Statistical Authority Nominal GDP 5.1% 9.2% 9.2% 9.6% 7.8% 5.3% 7.1% 4.7% 5.5% 3.5% 2.8% 3.0% 2.70% 2.60% 1.8% 3.5% Real GDP 1.9% 2.9% 2.8% 2.60% 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 1Q 22 2Q
Slide 36: Positive outlook for the Greek economy
Positive outlook for the Greek economy Greek sovereign ratings Greek economic sentiment index Latest credit ratings Outlook 106.1 Last upgrade: 12/2023 BBB- Positive (5/2025) Last upgrade: 4/2025 BBB Stable Mar 19 May 19 Sep 19 Mar 20 May 20 Sep 20 Mar 21 May 21 Sep 21 Mar 22 May 22 Sep 22 Mar 23 Ma
Slide 37: Glossary
Glossary Adjusted net profit: Net profit/loss adjusted after adding back one off expenses or deducting one off revenues Basic Earnings per share (EPS): Net profit attributable to ordinary shareholders divided by the weighted average number of shares Common Equity Tier 1 (CET1): Common Equity T
Slide 38: Disclaimer
Disclaimer This is a presentation of an exclusively informative nature, intended to provide general information about the Bank. Your participation in any way in an event at which the presentation is shown or your access to it in any other way constitutes an acknowledgment that you have read the term
Slide 39: Contact information
Contact information Kostantinos Vatousis, Head of Strategy & IR George Doukas, IRO kvatousis@optimabank.gr gdoukas@optimabank.gr 32 Aigialeias & Paradeisou str. Maroussi Athens 15125 Greece OPTIMAr.AT OPTIMA GA ISIN: GRS533003000 www.optimabank.gr 39
Slide 40: Optima bank
Optima bank