Eurobank S.a. · ATHEX:EUROB
Eurobank — Eurobank Ergasias Services and Holdings — 9M2024 Earnings Presentation
77 slides from Eurobank's earnings presentation, Nov 7, 2024
Slide 1: 9M2024 results
9M2024 results 7 November 2024
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 Ergasias Services and Holdings S.A. (“Eurobank Holdings”) and its 100% subsidiary Eurobank S
Slide 3: Table of contents
Table of contents 9M24 results highlights 4 Regional Presence 12 Balance sheet 19 Profitability 27 Asset Quality 35 Capital 40 Sustainability 44 Macroeconomic update 53 Appendix I – Supplementary information 63 Appendix II - Glossary 72 3
Slide 4: 9M24 results highlights
9M 2024 Results 9M24 results highlights
Slide 5: 9M24 results highlights: Profitability
9M24 results highlights: Profitability ❑ 3Q24 includes line by line consolidation of Hellenic Bank results P&L (€ m) 3Q24 2Q24 Δ(%) 9M24 9M23 Δ(%) Net interest income 697.7 560.9 24.4 1,829.7 1,601.0 14.3 ❑ Adjusted Net Profit €1,145m in 9M24 Commission income 167.8 147.1 14.1 450.5 403.1 11.8 Other
Slide 6: 9M24 results highlights: Balance Sheet
9M24 results highlights: Balance Sheet Key Balance sheet ratios Capital ▪ CET1 FLB3 at 17.8%1, up 100 bps y-o-y ▪ CAD at 20.9%1, up 140bps y-o-y Group (%) 3Q24 2Q24 1Q24 4Q23 3Q23 Capital7 Volumes CAD 20.91 19.3 20.2 20.2 19.5 ▪ Loans organic growth2 at €2.1bn in 9M24 CET1 FLB3 17.81 16.2 17.2 17.0
Slide 7: Diversified income stream
Diversified income stream Contribution to Net Loans Deposits Contribution to Assets (€ bn) Net Profit1 (€m) Group assets (€ bn) (€ bn) Group Net profit Greece 59.4 60% 32.3 41.0 647 57% Cyprus HB 17.5 18% 5.9 14.9 177 15% Cyprus ERB 8.9 9% 2.8 7.6 158 14% Bulgaria 10.7 11% 7.2 8.4 154 13% Lux 3.0 3%
Slide 8: Eurobank & Hellenic Bank Financials
Eurobank & Hellenic Bank Financials ERB HB GROUP ERB GROUP 9M24 (€ bn) ERB HB Group P&L (€ m) 9M23 9M24 Δ (%) Net Loans 43.2 5.9 49.1 Net Interest Income 1,601.0 1,678.5 151.2 1,829.7 4.8 14.3 Investment Securities 15.9 5.6 21.5 Commission Income 403.1 427.8 22.7 450.5 6.1 11.8 Central Banks 12.1 5.
Slide 9: NII and fees bridge y-o-y
9M23 1,601 Δ Loans 214 Δ Deposits (177) Δ NII (y-o-y, € m)1 Δ Bonds 106 Core Income Δ Central banks 58 Δ MREL & Tier II Δ Hedging (68) (31) 2 Δ other (23) 9M24 NII excl. HB 1,679 +4.8% 1. Analysis based on gross income. 2. Including Repos and Money Market Δ ΗΒ 151 9M24 1,830 +14.3% 9M23 403 Δ Lendin
Slide 10: Profitability
Profitability Core PPI and Provisions (€ m) Core Operating Profit2 (€ m) +6.2% +14.6% +12.3% +20.5% 1,297 1,526 1,209 1,414 1,077 Core PPI 1,331 9M23 9M24 excl. HB 9M24 Profit before Tax3 (€ m) Loan Loss +16.7% +34.6% (255) (205) (229) Provisions 9M23 9M24 excl. HB 9M24 1,497 1,262 1,112 CoR1 84 65
Slide 11: Capital & TBV
Capital & TBV CET1 FLB3 TBV per share (€) 17.8%1 +5.1% 16.8% 16.2% 2.27 2.16 2.07 3Q23 2Q24 3Q24 CAD 20.9%1 19.5% 19.3% 4Q23 2Q24 3Q24 post dividend 3Q23 2Q24 3Q24 1. Pro forma Solar securitization & Leon NPE transactions. Including period profits, subject to AGM approval. Excluding 9M24 payout accr
Slide 12: Regional Presence
9M 2024 Results Regional Presence
Slide 13: Hellenic Bank key P&L metrics
Hellenic Bank key P&L metrics1 9M24 Highlights Core PPI (€ m) Net profit2 €284m, up 28.4% y-o-y ▪ Core PPI at €304m, up 20.0% y-o-y 111 98 99 103 101 ▪ NII up 20.0% y-o-y at €456m ▪ 9M24 NIM at 3.35% ▪ Commission income down 5.1% y-o-y at €64m ▪ Cost – to – income3 at 34.9% 3Q23 4Q23 1Q24 2Q24 3Q24
Slide 14: Hellenic Bank key B/S metrics
Hellenic Bank key B/S metrics1 Gross loans (€ bn) Key metrics 6.2 6.2 6.2 6.1 6.0 other 3Q24 2Q24 1Q24 4Q23 3Q23 2.6 2.5 2.5 Assets (€ bn) 17.6 17.5 19.8 20.1 20.0 2.5 2.4 NFCs 2 Net loans (€ bn) 5.9 6.0 6.0 6.0 6.1 3.5 3.5 3.5 3.5 3.4 Capital & TBV Households CET13 (%) 28.3 26.6 24.6 22.8 21.7 3Q23
Slide 15: Eurobank Cyprus key P&L metrics
Eurobank Cyprus key P&L metrics 9M24 Highlights Core PPI (€ m) Net profit1 €158m; up 11.4% y-o-y ▪ Core PPI up 7.2% y-o-y at €198m 69 71 67 66 65 ▪ NII up 4.3% y-o-y at €208m ▪ 9M24 NIM at 3.08% ▪ Commission income up 8.9% y-o-y at €31m ▪ Cost – to – core income at 17.1% 3Q23 4Q23 1Q24 2Q24 3Q24 NPE
Slide 16: Eurobank Cyprus key B/S metrics
Eurobank Cyprus key B/S metrics Gross loans (€ bn) Key metrics 2.8 2.8 2.8 2.7 2.7 0.2 0.2 0.2 0.3 Retail 3Q24 2Q24 1Q24 4Q23 3Q23 0.2 Assets (€ bn) 8.9 9.6 8.8 8.6 8.6 2.5 2.6 2.6 Net loans (€ bn) 2.8 2.7 2.7 2.7 2.6 2.5 2.5 Business Capital & TBV CET1 (%)1 38.4 36.0 34.7 34.1 34.0 3Q23 4Q23 1Q24 2
Slide 17: Bulgaria key P&L metrics
Bulgaria key P&L metrics1 9M24 Highlights Core PPI and provisions (€ m) Net profit2 €154m, up 3.8% y-o-y ▪ Core PPI at €214m, up 27.2% y-o-y 73 74 Core 67 65 68 PPI ▪ NII up 28.0% y-o-y at €295m ▪ 9M24 NIM at 3.83% ▪ Commission income up 7.2% y-o-y at €61m (14) (15) (13) (12) (12) Provisions ▪ Cost
Slide 18: Bulgaria key B/S metrics
Bulgaria key B/S metrics1 Gross loans (€ bn) Key metrics 6.9 7.1 7.4 6.5 6.7 Business 3Q24 2Q24 1Q24 4Q23 3Q23 3.3 3.3 3.1 3.2 3.2 Assets (€ bn) 10.6 10.4 10.2 9.8 9.3 Mortgages Net loans (€ bn) 7.2 6.9 6.7 6.5 6.3 1.9 2.0 2.1 2.2 1.8 Capital & TBV 1.6 1.7 1.7 1.8 1.9 Consumer CET1 (%)2 20.3 19.8 19
Slide 19: Balance sheet
9M 2024 Results Balance sheet
Slide 20: Balance sheet composition
Balance sheet composition Assets (€ bn) Liabilities and Equity (€bn) 99.6 99.6 Net loans 49.1 Deposits 74.6 Investment Securities 21.5 Wholesale funding 6.9 Loans & advances to banks 2.1 Tier I & II 1.9 Other3 3.6 Cash & Central banks 17.4 Central banks 3.1 Investment property 1.3 3.8 Equity 9.5 DTA
Slide 21: Securities portfolio
Securities portfolio Breakdown per issuer Breakdown per classification Trading & other; 3% FVOCI; 18% CLOs (AAA); 9% Trading & € 21.5bn other; 3% Amortized Cost; 79% Covered Bonds; 11% Greek Sovereign; 27% € 21.5bn Amortized cost breakdown Financial Institutions; 13% Financial Insitutions; EU Corpor
Slide 22: Gross Loans
Gross Loans Breakdown by country (€ bn) Breakdown by type (€ bn) Organic1 growth +€2.1bn in 9M24; +€1.0 q-o-q 50.4 50.4 Lux 4.4 42.8 42.7 43.5 8.7 Cyprus 43.5 Senior Notes 42.3 42.3 42.8 42.7 2.7 2.8 2.7 2.8 o/w HB 5.9 4.5 4.3 4.3 4.5 7.1 7.4 Bulgaria 6.5 6.7 6.9 29.2 Business 24.3 25.0 25.1 25.8 Mo
Slide 23: Deposits
Deposits Breakdown by country (€ bn) Time / Total 34% 35% 36% 37% 36% Deposits1 up €2.3bn in 9M24; +€1.1bn q-o-q Group 74.6 32% 32% 32% 33% 32% Greece Lux 58.6 Cyprus 3Q23 4Q23 1Q24 2Q24 3Q24 56.5 57.4 57.3 22.5 o/w HB 14.9 7.2 7.1 7.2 7.5 8.0 8.3 8.4 Bulgaria 7.5 8.2 Breakdown by customer 39.7 40.0
Slide 24: Liquidity
Liquidity Net loans / Deposits ratio Net ECB position (€ bn) 72.3% 72.5% 7.5 7.1 7.7 7.6 14.2 72.0% 72.0% 65.8% 17.4 Cash 11.7 10.9 10.7 10.7 (4.2) (3.8) (3.0) (3.1) (3.1) Funding 3Q23 4Q23 1Q24 2Q24 3Q24 9M23 FY23 1Q24 1H24 9M24 Liquidity coverage ratio (LCR) HQLAs1 Cash ; Level 2 Assets; 2% 1% 187
Slide 25: MREL position
MREL position MREL (% RWAs) MREL buffer of 100bps 29.0 ▪ 3Q24 MREL ratio at 29.0%, exceeding the final target one year 28.01 in advance 4.5 Senior preferred CBR2 8.2 liabilities3 ▪ MREL-eligible Green Senior Preferred Bond of €850m issued Tier II4 3.1 MREL in September 2024 23.6 requirement CET14 17
Slide 26: Wealth Management
Wealth Management Managed Funds (AuM, € bn) Private Banking (CAL1, € bn) +34% +20% 6.6 12.8 6.4 12.2 11.7 5.9 11.0 5.3 10.7 4.9 5.2 5.0 Greece 5.0 4.6 4.8 Own Mutual 5.2 5.4 Funds 4.7 4.3 Cyprus 3.9 3.9 3.5 3.8 3rd Party Mutual 3.0 3.2 Funds Luxembourg 0.5 0.6 3.0 3.1 3.3 3.4 3.6 0.5 0.5 0.5 Discret
Slide 27: Profitability
9M 2024 Results Profitability
Slide 28: Performing Loan spreads & rates
Performing Loan spreads & rates Client rates (Greece, bps) Lending spreads (Greece, bps)1 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 4Q23 1Q24 2Q24 3Q24 Corporate 631 646 641 619 592 Corporate 237 233 228 212 207 Retail 611 627 622 614 597 3M avg Euribor 377 396 392 381 356 Consumer 959 995 985 1,018 1,006 6M av
Slide 29: Net Interest margin & deposit spreads
Net Interest margin & deposit spreads Net Interest margin (bps) Deposit spreads (Greece, bps) 3Q23 4Q23 1Q24 2Q24 3Q24 351 Savings & Sight 364 386 387 378 355 346 334 327 333 Time 149 146 135 123 118 SEE Total 301 312 306 295 279 290 287 Group 284 279 281 1M avg Euribor 362 385 386 377 355 270 270 G
Slide 30: Net Interest Income
Net Interest Income NII breakdown (€ m)1 Δ NII (q-o-q, € m)1 9M24 NII up 14.3% y-o-y (+4.8%2) 2Q24 561 3Q23 4Q23 1Q24 2Q24 3Q24 Δ Loans (1) Loans 564 580 589 583 662 Bonds 132 151 157 159 201 Δ Bonds 1 Central banks 55 56 59 63 107 Δ Central banks (2) Money Market & (9) (16) (17) (17) (16) Repos Δ D
Slide 31: Commission Income
Commission Income Commission income breakdown (€ m) Commission income per region (€ m) Fees/ assets 9M24 commission income up 11.8% y-oy (+6.1%1) (bps) 68 71 68 73 68 1682 1682 56bps / 147 assets Lending 147 141 40 133 141 136 136 57 SEE 133 39 33 40 33 31 33 31 33 Network transactions 71 & credit c
Slide 32: Operating expenses
Operating expenses OpEx per region (€ m) OpEx breakdown (Greece, € m) 9M24 Group OpEx +12.1% y-o-y (+1.0%1) 485 (0.2%) 484 297 65 67 Depreciation 229 229 229 228 SEE 42 132 50 IT 67 69 71 68 o/w HB 62 103 107 Administrative 162 160 158 160 165 Greece 3Q23 4Q23 1Q24 2Q24 3Q24 238 262 Staff2 Cost –to-
Slide 33: Pre-provision income (PPI)
Pre-provision income (PPI) Core PPI and other income (€ m) Δ Core PPI (q-o-q, € m) 12 55 48 (2) 26 Other income 568 462 484 478 480 144 145 143 149 261 SEE 568 480 112 318 339 335 331 308 Greece (14) (2) (7) 3Q23 4Q23 1Q24 2Q24 3Q24 PPI per region (€ m) Δ NII HB Δ opex 2Q24 Core PPI 3Q24 Core PPI Δ
Slide 34: Core Operating Profit
Core Operating Profit Δ Core Operating Profit (y-o-y, € m) Core Operating Profit per region (€ m) +12.3% +20.5% +30.0% Core 1,077 1,209 1,297 Operating Profit 483 112 1,526 Lux 78 25 1,414 Core PPI 1,331 407 407 (20 ) 394 Cyprus 372 151 63 64 o/w HB 88 69 64 55 61 50 62 Bulgaria 53 259 Greece 265 28
Slide 35: Asset Quality
9M 2024 Results Asset Quality
Slide 36: Asset quality metrics
Asset quality metrics NPEs formation1 (€ m) NPEs ratio (%) Δ NPEs stock (145) (540) (212) 37 1244 (q-o-q, €m) 4.9% 59 66 50 3.5% 27 SEE 3.1% 3.0% 2.9% Greece 3Q23 4Q23 1Q24 2Q24 3Q24 3 (29) 3Q23 4Q23 1Q24 2Q24 3Q24 Loan loss provision (€ m) NPE coverage (%) 89 88 68 69 70 Cost of Risk2 (bps) 90 90 9
Slide 37: NPEs formation per segment (Greece)
NPEs formation per segment (Greece) Mortgages (€ m) Consumer (€ m) 17 39 42 12 32 26 21 27 10 10 16 19 19 7 6 8 13 12 10 6 6 3 5 4 4 3 (5) (9) (2) (27) 3Q21 3Q23 3Q22 3Q24 2Q21 4Q21 1Q22 1Q24 2Q22 4Q22 2Q24 1Q21 1Q23 2Q23 4Q23 3Q23 3Q21 3Q22 3Q24 2Q21 4Q21 1Q21 1Q22 2Q22 4Q22 1Q23 2Q23 4Q23 1Q24 2Q2
Slide 38: NPE metrics (Group)
NPE metrics (Group) 90dpd bridge to NPEs (€ bn) NPEs per region Provisions & NPE Total NPEs NPE ratio collaterals / coverage 0.2 1.53 NPEs 0.5 (€ m) (%) (%) (%) 0.8 Consumer 72 4.2 161.1 161 (1.3) Mortgages 284 3.8 122.2 211 0.1 Small Business 212 7.7 83.6 153 Corporate 530 2.5 67.0 140 2 90dpd NPF
Slide 39: Loans' stage analysis (Group)
Loans’ stage analysis (Group) Loans’ stage breakdown Provisions stock over NPEs (€ bn) 3Q23 4Q23 1Q24 2Q24 3Q24 92.6% 93.2% Stage 1 35.2 36.3 36.5 37.3 43.7 89.9% 86.4% 75.0% Stage 2 5.0 4.9 4.9 4.8 4.91 Stage 3 2.1 1.5 1.3 1.3 1.52 (NPEs) 4 Total 42.2 42.8 42.7 43.4 50.23 3Q23 4Q23 1Q24 2Q24 3Q24 S
Slide 40: Capital
9M 2024 Results & EUROBANK Holdings Capital
Slide 41: Capital ratios (CET1 FLB3, q-o-q)
Capital ratios (CET1 FLB3, q-o-q) 99bps 17.8%3 90bps (12bps) 16.9%3 16.2%2 (17bps) c.(90bps) 2024 OCR 12.3% 1 1 2Q24 3Q24 Adj. Other 3Q24 post 3Q24 Asset Growth Net Profit 9M24 Payout regulatory Dividend related & Accrual Ratings 7 other Accrual RWAs 50,021 0 5074 (2,409)5 (163)6 47,956 (€ m) Capita
Slide 42: Capital ratios (CAD, q-o-q)
Capital ratios (CAD, q-o-q) 99bps 20.9%3 20.1%3 90bps (9bps) 19.3%2 (20bps) Tier II 3.1% c.(90bps) Tier II 3.1% CET1 17.8% CET1 16.2% 2024 CAD OCR 15.1% 1 1 Other 9M24 Payout 3Q24 Adj. 3Q24 post Asset Growth 3Q24 Net Profit regulatory 2Q24 dividend related & accrual Ratings 8 accrual other RWAs 50,0
Slide 43: DTC prudential acceleration
DTC prudential acceleration Current regime Prudential acceleration ▪ DTC at 36% of CET1 (€3.1bn) ▪ 2025 onwards, a DTC amortization add-on to be introduced ▪ Linear amortization €190m p.a, irrespective of profitability ▪ DTC add-on pro-rata to total payout: dividends and buy-back ▪ DTC elimination e
Slide 44: Sustainability
9M 2024 Results Sustainability https://www.eurobankholdings.gr/en/esg-environment-society-governance
Slide 45: Financed Impact Strategy – Enhanced Targets & Commitments
Financed Impact Strategy – Enhanced Targets & Commitments Portfolio Targets Sectoral Targets Accelerated sustainable financing in line with our Corporate Banking Renewable energy ambitious strategy ✓ Disbursements: ✓ 35% of disbursements in the energy sector to be directed to Renewable Energy c. €2.
Slide 46: Financed Impact Strategy – Key Enablers
Financed Impact Strategy – Key Enablers Eurobank Holdings has joined the Net-Zero Banking Alliance (NZBA), a bank-led, UN-convened alliance of banks worldwide, reinforcing its dedication to aligning its lending and investment portfolios with net-zero emissions by 2050 or sooner, in line with the mos
Slide 47: Green Senior Preferred Notes – Key highlights
Green Senior Preferred Notes – Key highlights Eurobank S.A., has successfully issued €850 million in Green Senior Preferred Notes in September 2024. The inaugural green issuance demonstrates Eurobank’s strong commitment to reaching net-zero emissions by 2050. The notes are listed in the Luxembourg S
Slide 48: Operational Impact Highlights: Environment
Operational Impact Highlights: Environment Energy Performance 01-09.2024 %var vs Actual 01-09.2023 • Energy Consumption: Reduction y-o-y in electricity consumption and equivalent Scope 2 emissions. Electric Energy consumption (kWh) 26.22mn -3.7% 1 • Energy self-production: Energy production commence
Slide 49: Operational Impact Highlights: Social
Operational Impact Highlights: Social • Setting Education a Priority: One of the longest-running CSR programs in Greece is now in its 22nd ➢ Over 23,500 top-performing students have year and it is enriched with new initiatives, deepening scientific expertise and linking academic been awarded knowled
Slide 50: Operational Impact Highlights: Governance & Business
Operational Impact Highlights: Governance & Business • Eurobank’s Digital Academy for Business supported an online workshop on "Financing Sustainable Development for SMEs", in partnership with HDB - Hellenic Development Bank SA, providing a deep dive into financing strategies and the ESG tracker tha
Slide 51: Sustainability Ratings
Sustainability Ratings Sustainability Ratings • Sustainalytics - Eurobank has been ranked in the best risk category "Negligible", achieving a score of 9.0 in the latest ESG assessment by the internationally renowned Morningstar Sustainalytics, being the first Greek bank to receive this top rating. F
Slide 52: Sustainability Distinctions
Sustainability Distinctions Distinctions and awards • Eurobank has been named Best Consumer Digital Bank in Western Europe for 2024 achieving this award for the 5th consecutive year by the internationally renowned Global Finance magazine. • Eurobank is the first Greek bank to receive the distinction
Slide 53: Macroeconomic update
9M 2024 Results Macroeconomic update
Slide 54: Macro developments and outlook
Macro developments and outlook ▪ Growth remained solid in 1H24 (2.2% y-o-y vs 0.6% y-o-y in the Euro Area); The Government expects growth of 2.2% and 2.3% in 2024 and 2025 respectively1, continuing to over-perform the Euro Area ▪ Average HICP inflation at 3.0% in 9M24, from 4.4% in 9M23; 12-month av
Slide 55: Real GDP growth at 2.3% vs 0.4% in the Euro Area in 2023
Real GDP growth at 2.3% vs 0.4% in the Euro Area in 2023; growth remained solid in H1 2024 (2.2% YoY vs 0.6% YoY in the Euro Area) Sources: ELSTAT, Eurostat, Eurobank Research 55
Slide 56: Domestic Labour Market
Domestic Labour Market The unemployment rate continues to decline, still the 2nd Employment remains on an upward trajectory highest in the Euro Area despite reported labor shortages contributing positively to households’ disposable income Long term unemployment decreases, yet it remains Recovery of
Slide 57: Selected indicators of domestic economic activity
Selected indicators of domestic economic activity ESI decreases in Q2 2024, nevertheless remains above the Operating conditions in manufacturing improve, albeit long-term average; higher relative to the EA at a decelerating rate; higher relative to the EA Manufacturing production improves Retail tra
Slide 58: Real estate prices: strong growth continues
Real estate prices: strong growth continues Index of Apartment Prices Index of Retail and Office Prices 2Q11 – 2Q24 2H10 – 2H23 Source: BoG 58
Slide 59: Fiscal and current account balances
Fiscal and current account balances ▪ 2024, 2025 & 2026 GG primary surplus expected (from 2.1% of GDP in 2023) at 2.4%, 2.5% & 2.4% of GDP respectively (and expected to remain constant at 2.4% of GDP in 2027 and 2028), according to the MTFS25-28. ▪ Current account deficit at 6.3% of GDP in 2023, fro
Slide 60: Sovereign debt profile
Sovereign debt profile General Government gross public debt ▪ According to MTFS25-28, Greece's Gross Public Debt is projected to (% of GDP, ESA terms) decrease from 161.9% of GDP in 2023 to 153.7% in 2024, 149.1% in 2025, and 143.1% in 2026—down from 172.7% in 2022 and a peak of 207.0% in 2020. ▪ Ac
Slide 61: Cyprus
Cyprus ▪ Annual GDP growth accelerated further to 3.7% in 2Q24, from 3.3% in 1Q24, 2nd best growth performance in the Eurozone; driven by household consumption, on the back of low unemployment (4.6%, 16-year low for the Q2 period), and a recovery in fixed capital formation ▪ Scope Ratings upgraded i
Slide 62: Bulgaria
Bulgaria ▪ Real GDP growth held firm at 2.1% in 2Q24, from 1.9% in 1Q24 and 1.8% in 2023, outperforming the 2Q and 1Q EU averages (0.6% and 0.5%) ▪ IMF (October 2024) forecasts 2024 growth at 2.3%, and a mild acceleration in 2025 (2.5%) ▪ For the first time in 3.5 years headline inflation significan
Slide 63: Appendix I – Supplementary information
9M 2024 Results Appendix I – Supplementary information
Slide 64: Credit ratings
Credit ratings Greek Sovereign Credit Eurobank Long Term Eurobank Outlook Rating Ba1 Baa2 Positive BBB- BB+ Positive BBB- BB+ Positive BBB low BBB low Stable Note: Moody’s: Long term senior unsecured debt rating of Eurobank S.A. 64 S&P Global Ratings, Fitch Ratings, Morningstar DBRS: Long term issue
Slide 65: Group performance
Group performance ERB HB GROUP ERB GROUP ERB HB GROUP ERB GROUP P&L (€ m) 9M23 9M24 Δ (%) P&L (€ m) 2Q24 3Q24 Δ (%) Net Interest Income 1,601.0 1,678.5 151.2 1,829.7 4.8 14.3 Net Interest Income 560.9 546.5 151.2 697.7 (2.6) 24.4 Fees & Commissions 403.1 427.8 22.7 450.5 6.1 11.8 Fees & Commissions
Slide 66: Balance Sheet
Balance Sheet 9M24 (€ bn) ERB HB Group 9M24 (€ bn) ERB HB Group Net loans 43.2 5.9 49.1 Deposits 59.7 14.9 74.6 Investment Securities 15.9 5.6 21.5 Wholesale Funding 6.8 0.2 6.9 Loans & Advances to banks 1.7 0.4 2.1 Tier I & II 1.6 0.3 1.9 Central Banks 12.1 5.3 17.4 Central Banks 3.1 - 3.1 Investme
Slide 67: Summary performance
Summary performance Balance sheet – key figures Income statement – key figures €m 3Q24 2Q24 €m 3Q24 2Q24 Gross customer loans 50,351 43,425 Net interest income 697.7 560.9 Provisions (1,256) (1,196) Commission income 167.8 147.1 Loans FVTPL 11 10 Operating income 891.4 705.9 Net customer loans 49,11
Slide 68: Consolidated quarterly financials – Income statement
Consolidated quarterly financials – Income statement (€ m) 3Q24 2Q24 1Q24 4Q23 3Q23 Net Interest Income 697.7 560.9 571.1 572.8 558.4 Commission income 167.8 147.1 135.6 140.8 133.1 Other Income 26.0 (2.1) 47.7 55.5 11.7 Operating Income 891.4 705.9 754.5 769.0 703.2 Operating Expenses (297.1) (228.
Slide 69: Consolidated quarterly financials – Balance sheet
Consolidated quarterly financials – Balance sheet (€ m) 3Q24 2Q24 1Q24 4Q23 3Q23 Consumer Loans 4,482 3,615 3,516 3,436 3,429 Mortgages 12,325 9,791 9,736 9,942 10,009 Household Loans 16,807 13,406 13,251 13,377 13,438 Small Business Loans 3,537 3,353 3,375 3,484 3,580 Corporate Loans 25,653 22,448
Slide 70: Consolidated financials
Consolidated financials Income Statement (€ m) 9M24 9M23 Δ y-o-y (%) Net Interest Income 1,829.7 1,601.0 14.3 Commission income 450.5 403.1 11.8 Other Income 71.6 30.4 >100 Operating Income 2,351.8 2,034.4 15.6 Operating Expenses (754.3) (672.7) 12.1 Pre-Provision Income 1,597.5 1,361.7 17.3 Loan Lo
Slide 71: SEE operations key figures – 3Q24
SEE operations key figures – 3Q24 Bulgaria HB ERB Cyp Lux Sum Assets 10,664 17,469 8,941 3,024 40,098 Gross loans 7,408 5,896 2,846 886 17,036 Balance Sheet Net loans 7,206 5,864 2,786 885 16,741 (€m) NPE loans 199 13 68 0 280 Deposits 8,378 14,912 7,606 2,745 33,641 CAD1 22.1% 34.0% 38.5% 24.1% Cor
Slide 72: Appendix II – Glossary
9M 2024 Results Appendix II – Glossary
Slide 73: 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 74: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios Adjusted net profit: Net profit/loss from continuing operations excluding restructuring costs, goodwill impairment / gain on acquisition, gains/losses related to the transformation plan and
Slide 75: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios Fees & commissions over assets ratio: The total of net banking fee and commission income & income from non banking services of the reported period divided by the average balance of continued
Slide 76: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios NPEs Coverage ratio: Impairment allowance for loans and advances to customers and ECL allowance for credit related commitments (off balance sheet items), divided by NPEs at the end of the re
Slide 77: Investor Relations contacts
Investor Relations contacts Dimitris Nikolos +30 214 4058 834 dnikolos@eurobankholdings.gr Yannis Chalaris +30 214 4058 832 ychalaris@eurobankholdings.gr Christos Stylios, CFA +30 214 4058 833 cstylios@eurobankholdings.gr Investor Relations Division +30 214 4058 834 investor_relations@eurobankholdin
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