Piraeus Bank S.a. · ATHEX:TPEIR
Piraeus Bank — Piraeus Financial Holdings — Q1 2025 Earnings Presentation
73 slides from Piraeus Bank's earnings presentation, May 6, 2025
Slide 1: First Quarter 2025 Financial Results
First Quarter 2025 Financial Results 06 May 2025
Slide 2: Contents
Contents 01 Q1.2025 Highlights 02 Performance vs Peers 03 Financial Analysis 04 Annex
Slide 3: Q1.2025 Highlights
01 Q1.2025 Highlights
Slide 4: The Greek economy is well positioned to navigate an 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 5: Q1.25: strong start with €0.22 EPS; loan growth and client AuMs outperformed targets
Q1.25: strong start with €0.22 EPS; loan growth and client AuMs outperformed targets 1 €284mn net profit +22% yoy; €0.22 EPS generation, in line to meet or exceed guidance of c.€0.8 for 2025 2 9% distribution yield out of 2025 €0.298 per share to be paid on 10 June 2025; accrued at annualized rate o
Slide 6: EPS grew 23% yoy, TBV per share up 14% yoy at €6.0
EPS grew 23% yoy, TBV per share up 14% yoy at €6.0; clean quarter without one-offs Group Figures (€mn) Q1.24 Q4.24 Q1.25 Net interest income 518 514 481 Net fee income 145 167 160 Net trading result (4) 28 19 Other operating result (23) 21 (10) Operating expenses (193) (225) (224) Underlying impairm
Slide 7: €5bn net credit expansion in quarters
€5bn net credit expansion in 5 quarters, with positive loan origination dynamics continuing Performing loans evolution (€bn) Net loan movement +€1.1bn qoq (+3%) Out of €3.2bn disbursements in Q1: +3.2 ▪ c.€1.9bn were to corporate and 34.8 33.7 structured finance 30.1 -2.0 Q1.2025 Highlights -0.1 ▪ c
Slide 8: Solid credit expansion supported by all business lending segments
Solid credit expansion supported by all business lending segments; business loans up 22% yoy Performing loans evolution (€bn) Performing loans yields, % 3.6% 4.0% 6.3% 6.5% 5.4% CAGR 2021-Mar.25 9% 34.8 Q1.2025 Highlights 33.7 Consumer loans & credit cards ▪ Substantial increase of 1.7 0% CAGR ’21-M
Slide 9: Strong net credit expansion in Q1, matching the momentum of 2024
Strong net credit expansion in Q1, matching the momentum of 2024 Net credit expansion (€bn) +€3.4bn +1.7 +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 Q1.2025 Highlights Total -0.2 +1.2 +0.8 +1.7 +1.2 Individuals 0.0 0.0 0.0 +0.1 -0.1 Businesses -0.1 +1.2 +0.8 +1.5
Slide 10: Net fee income in Q1 at 25% over net revenues
Net fee income in Q1 at 25% over net revenues, with diversified model bringing results Net fee income (€mn) ▪ Loan fees supported by €3.2bn disbursements in the Q1.24 Q4.24 Q1.25 yoy quarter Financing Loans 21 32 31 47% ▪ Asset management fees post strong growth, on the Letters of guarantee 12 13 13
Slide 11: Assets under management remain on a growing trend
Assets under management remain on a growing trend, 2025 target already met Assets under management (€bn) 12.5 ▪ Q1.25 AuMs surpassed FY.25 target of 11.4 >€12.0bn on the back of €0.6bn net sales and €0.5bn market impact 4.9 9.3 ▪ Upscale investment solutions with focus on 4.8 o Hybrid advisory servi
Slide 12: 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 c.5% and 1 percentage point respectively Financial KPIs Pre Transaction Post Transaction 2026 2027 2028
Slide 13: NII in Q1: asset growth mitigating the drop in base rates
NII in Q1: asset growth contributed positively, mitigating the material drop in base rates Net interest income (€mn) Q4.24 Q1.25 Delta Performing exposures 495 458 (37) -€32mn rates, +€9mn volumes, -€10mn Feb. daycount, -€4mn spreads Bond portfolio 118 122 4 Cash at central banks 59 37 (22) -€5mn ra
Slide 14: Q1 NII intrinsics lead to reconfirmation of 2025 guidance
Q1 NII intrinsics lead to comfortable reconfirmation of 2025 guidance 2025 expected NII trajectory (€mn) ▪ Average 3m Euribor rate ~1.96bn +50 ~1.9bn assumption for 2025 now at 2.15% compared to 2.30% previously, (105) without expectation for cuts below 2.00%; this is on the back of already material
Slide 15: Loan portfolio yield at 5.4% in Q1
Loan portfolio yield at 5.4% in Q1, 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 Q4.24 Q1.25 Δ vs Q4.23 PE Mar.25 Euribor is down 140bps, compared to - 113bps for loan yield CIB 6.7
Slide 16: 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 Q4.24 Q1.25 Mar.25 Mar.25 grown by c.€2bn over the past year First demand deposits cost (%) 0.06% 0.08% 0.08% 0.07% €47.7b
Slide 17: Cost management as per budget
Cost management as per budget, with some frontloading in Q1; CapEx investment to ensure long-term productivity gains Operating expenses (€mn) Q1.24 Q4.24 Q1.25 Staff costs 91 113 99 +9% yoy, +5% yoy without variable pay including frontloaded property tax G&A costs 73 82 94 charges, increased IT inve
Slide 18: Solid credit quality with historic low cost of risk at 0.35%
Solid credit quality with historic low cost of risk at 0.35% NPE balance evolution (€bn) 1.3 1.3 1.3 1.1 1.1 Q1.24 Q2.24 Q3.24 Q4.24 Q1.25 Q1.24 Q2.24 Q3.24 Q4.24 Q1.25 Q1.2025 Highlights Organic cost of risk (CoR) 0.5% 0.5% 0.5% 0.4% 0.3% o/w underlying CoR 0.2% 0.2% 0.3% 0.2% 0.1% NPE coverage 60.
Slide 19: Superior liquidity profile; deposits at €61.4bn
Superior liquidity profile; deposits at €61.4bn, +5% yoy Liquidity KPIs 241% LCR (%) 219% Impacted by seasonal deposit 201% outflows Q1.2025 Highlights 3.5 TLTRO (€bn) 0.0 0.0 Dec.23 Dec.24 Mar.25 Dec.23 Dec.24 Mar.25 01 Net cash (€bn) 7.1 7.4 5.1 Deposits (€bn) 59.6 62.9 61.4 LDR (%) 61% 63% 66% NS
Slide 20: Strong organic capital generation; CET1 trajectory
Strong organic capital generation, absorbing loan growth, increased distribution accrual, DTC and Basel IV impact; comfortable surplus above management target of 13% CET1 ratio; 410bps MDA CET1 trajectory Q1.25 (%) +0.2% organic capital generation 1.1% 14.7% 14.9% 14.4% 13.3% (0.3%) (0.4%) (0.2%) (0
Slide 21: Already compliant with terminal MREL requirement
Already compliant with terminal MREL requirement, with 75bps buffer Terminal MREL requirement MREL position (30 Jun.25) (31 Mar.25) 28.2% 27.45% • 2024 issuance activity incorporates: • €500mn 10.25NC5.25 Tier 2 with 7.25% coupon, 3.9% Combined buffers 8.7% Senior bonds & other • €500mn 6NC5 Senior
Slide 22: 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 • Greenfield development of next-era • Low-capex expansion model with no Q2/Q3 ‘25: Retail Banking capabilities (e.g., bra
Slide 23: Q1.25 continues our track record of delivering strong results
Q1.25 continues our track record of delivering strong results FY.23 FY.24 Q1.25 FY.25 actual actual actual target Earning per share (€) €0.59 €0.81 €0.22 ~€0.8 RoaTBV (%) 12.3% 15.0% 14.7% ~14% NII / assets (%) 2.7% 2.7% 2.4% ~2.4% NFI / revenues (%) 21% 23% 25% ~25% from c.24% Q1.2025 Highlights Co
Slide 24: Piraeus’ Performance vs Peers
02 Piraeus’ Performance vs Peers
Slide 25: Piraeus: the leading bank in Greece
Piraeus: the leading bank in Greece, with the ambition to join Tier 1 of European banks #1 in performing loans (26% Greek market share) #1 in deposits (28% share) Piraeus Performance vs Peers #1 in equities brokerage (26% share) #1 in retail footprint, with 368 branches and 4.5mn clients nationwide
Slide 26: Piraeus’ return on tangible book among the best in the region
Piraeus’ return on tangible book among the best in the region RoaTBV 1 (%) 16.9% Piraeus Performance vs Peers 16.6% 15.0%2 14.7%2 13.9% 02 FY.24 FY.24 FY.24 FY.24 Q1.25 Spain Italy Greek peers Source: SNL Financial Database, Company information. Spanish sample includes Unicaja, Sabadel, Santander, C
Slide 27: Credit expansion strong, best-in-class across Eurozone
Credit expansion strong, best-in-class across Eurozone Performing loan growth 1 (yoy) 16% Piraeus Performance vs Peers 12% 11% 3% 0% 02 FY.24 FY.24 FY.24 FY.24 Q1.25 Spain Italy Greek peers Source: SNL Financial Database, Company information Note: 1. Excluding senior notes from HAPS scheme and refer
Slide 28: NIM among the best in Southern Europe
NIM among the best in Southern Europe Net interest income over average assets (bps) 278 270 Piraeus Performance vs Peers 244 222 196 02 FY.24 FY.24 FY.24 FY.24 Q1.25 Spain Italy Greek peers Source: SNL Financial Database, Company information 28
Slide 29: 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) 107 Piraeus Performance vs Peers 82 81 71 59 02 FY.24 FY.24 FY.24 FY.24 Q1.25 Spain Italy Greek peers Source: SNL Financial Database, Company
Slide 30: 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 (%) 32% Piraeus Performance vs Peers 25% 24% 23% 18% 02 FY.24 FY.24 FY.24 FY.24 Q1.25 Spain Italy Greek peers Source: SNL Financial Database, Company information 30
Slide 31: Cost champion across the region
Cost champion across the region Cost-to-income ratio (%) 49%1 46%1 Piraeus Performance vs Peers 36%2 35%2 30%2 02 FY.24 FY.24 FY.24 FY.24 Q1.25 Spain Italy Greek peers Source: SNL Financial Database, Company information Notes: 1) Operating expenses divided by recurring revenue, 2) Operating expenses
Slide 32: 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% 2.9% 2.6% 2.6% 2.6% 02 FY.24 FY.24 FY.24 FY.24 Q1.25 Spain Italy Greek peers Source: SNL Financial Database, Company information 32
Slide 33: Creating space for cost of risk to decline further
…creating space for cost of risk to decline further Cost of risk1 (bps) Piraeus Performance vs Peers 68 62 46 35 29 02 FY.24 FY.24 FY.24 FY.24 Q1.25 Spain Italy Greek peers Source: SNL Financial Database, Company information Note: 1. Provision for customer loan losses as a percent of average net loa
Slide 34: 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 20.2% 19.9%1 19.5%1 17.3% Piraeus Performance vs Peers Regulatory Capital % 16.9%1 15.8% 14.7%1 14.4%1 CET1% 13.1% 02 FY.24 FY.24 FY.24 FY.24 Q1.25 Spain Italy Greek peers Source: SN
Slide 35: Piraeus’ stock still trades below its 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 1.45x 0.82x ~1.40x 1.37x 1.22x ~€8.7 1.18x Piraeus Performance vs Peers ~70% €5.15 PB share price Implied PB share price P/TBV
Slide 36: Financial Analysis
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Slide 37: Strong balance sheet with excess liquidity boosting profitability
Strong balance sheet with excess liquidity boosting profitability Asset mix vs funding mix - Mar.25 ▪ Customer loans comprise 52% of assets amounts in €bn ▪ Fixed income portfolio comprises 22% of assets Total 78.8 78.8 Total ▪ Fixed income holdings of Greek sovereign at €10.8bn, Cash 2.3 Interbank
Slide 38: Fee dynamics remain robust, while cost of risk reaches historic lows
Fee dynamics remain robust, while cost of risk reaches historic low levels Net interest income (€mn) Net fee income (€mn) NII shows resilience to 518 528 530 Key drivers of growth: 167 167 160 514 481 156 lower rates and day-count loans, bancassurance, 145 asset management and rental income, 539 550
Slide 39: Balance sheet evolution pointing to further improvement
Balance sheet evolution pointing to further improvement Balance sheet items Group figures (€bn) Mar.24 Dec.24 Mar.25 Cash & due from banks 12.7 9.8 7.3 Net loans to clients 36.4 39.8 40.8 - Net PE book 35.7 39.2 40.2 - Net NPE book 0.7 0.5 0.5 Net NPE over total net loans down to 1.3% in Mar.25 Fina
Slide 40: Loan portfolio evolution
Loan portfolio evolution Q1.25 performing loan movement (€bn) Q1.25 disbursements (€bn) Dec.24 Disbursements Repayments Other Mar.25 Category amount yield % Mortgages 0.1 3.5% Individuals 7.8 +0.2 -0.2 -0.1 7.7 Consumer 0.1 10.4% SB 0.2 5.2% Business 25.9 +3.0 -1.8 +0.0 27.1 SME 0.7 4.6% Performing
Slide 41: Corporate lending growth supported by wide sector diversification
Corporate lending growth supported by wide sector diversification Business performing loan evolution per industry (€bn) Delta qoq (€bn) -0.1 +1.3 +0.7 +1.7 +1.2 27.1 25.9 23.5 24.2 3.4 22.2 3.3 3.3 Top quality large corporate 3.4 4.0 Financial Analysis 3.3 3.6 accounts financings Wholesale 3.4 3.5 2
Slide 42: Loan portfolio diversification
Loan portfolio diversification Group loan composition (€34.8bn at Mar.25, %) Q1.25 CIB disbursements breakdown Mortgages Industry mix % 17% Retail loans 22% Manufacturing 23% Consumer 5% Wholesale & retail trade 15% Real estate 15% Manufacturing 12% Transportation (incl. shipping) 13% Wholesale & re
Slide 43: Loan yields affected by base rates; deposit costs remain contained
Loan yields affected by base rates; deposit costs remain contained Group Interest income (€mn) Yields (%) Average balances (€bn) Q1.24 Q2.24 Q3.24 Q4.24 Q1.25 Q1.24 Q2.24 Q3.24 Q4.24 Q1.25 Q1.24 Q2.24 Q3.24 Q4.24 Q1.25 Customer loans 503 517 522 507 468 5.32% 5.39% 5.30% 4.91% 4.61% 37.4 37.9 38.6 4
Slide 44: Deposits down 2% in Q1, but trend continues upward
Deposits down 2% in Q1, but trend continues upward Customer deposit movement (€bn) Deposit movement by segment (€bn) 62.9 61.4 59.6 +1.2 +0.8 +2.3 -1.4 FY.23 FY.24 Q1.25 Mar.25 -1.0 delta delta delta balance Mass | Farmers +0.8 -0.1 -0.3 23.1 Affluent | Private banking +0.5 +0.8 -0.4 18.9 Financial
Slide 45: Q1 operating costs flat qoq and +11% yoy
Q1 operating costs flat qoq and +11% yoy, burdened by tax, Snappi preparations and business services Operating costs (€mn) Q1.24 Q4.24 Q1.25 yoy Staff costs 101 152 99 -2% Up 9% on increased variable remuneration recurring 91 113 99 9% (+5% excluding variable) G&A costs 73 82 94 28% G&A costs impact
Slide 46: Capital position metrics
Capital position metrics Capital ratios | Mar.25 €bn | % Reported Pro forma • Total capital ratio exceeding by c.350bps the 2025 P2G CET-1 capital supervisory guidance of 16.00% (TCR 14.75% + P2G 1.25%) 5.1 5.1 Tier 1 capital 5.7 5.7 • Comfortable MDA buffer of 410bps Total capital 6.9 6.9 RWAs 35.7
Slide 47: Post meaningful reduction of NPEs, 23% of remaining portfolio in 0dpd
Post meaningful reduction of NPEs, 23% of remaining portfolio in 0dpd NPEs per bucket (€bn as at Mar.25) Remaining NPEs (€bn as at Mar.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 48: NPE movement outlines strong NPE clean-up effort
NPE movement outlines strong NPE clean-up effort, both organic and inorganic Group NPE movement (€mn) Q1.24 Q2.24 Q3.24 Q4.24 Q1.25 NPEs | beginning of period 1,329 1,303 1,264 1,262 1,068 Redefaults 17 14 10 15 8 Defaults 68 78 52 100 80 Total inflows 84 92 62 115 89 o/w business 36 30 18 77 36 Q4.
Slide 49: €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 (Mar.25) 1.1 1.1 1.1 1.1 108% 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 Mar.25 N
Slide 50: Group NPE & NPE coverage ratio
Group NPE & NPE coverage ratio NPE ratio per product category NPE coverage ratio per product Dec.24 Dec.24 Mar.25 119% Mar.25 112% 72% 71% 4.7% 65% 64% 3.9% 3.3% 3.7% 2.6% 2.6% 2.4% 2.3% Financial Analysis 21% 24% Total Business Mortgages Consumer Total Business Mortgages Consumer NPE mix Loan loss
Slide 51: Retail Banking: strong profitability
Retail Banking: strong profitability taking advantage of nationwide network and wide clientele base Performing loans (€bn) Net fee income (€mn) 10.0 10.3 10.1 67 65 €mn Q1.24 Q1.25 Total net revenues 330 293 2.2 2.5 2.4 SB Financial Analysis Total operating costs (98) (108) 1.6 1.7 Consumer Pre prov
Slide 52: Corporate & Investment Banking: solid profitability
Corporate & Investment Banking: solid profitability driven by best-in-class volume growth Performing loans (€bn) Net fee income (€mn) 24.7 57 23.4 Leasing/ 1.5 1.5 factoring 50 €mn Q1.24 Q1.25 20.0 6.0 SMEs Total net revenues 211 217 1.4 5.8 Financial Analysis Total operating costs (44) (46) 5.5 3.1
Slide 53: 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 2.6% 3.0% 3.0% 17.2 17.2 16.4 16.4 1.0 €0.7bn GR 2.4 0.8 1.2 €0.9bn GR 14.5 2.2 14.5 0.6 €mn Q1.24 Q1.25 Trading Other 1.5
Slide 54: Annex
04 Annex
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% 2.1% • Greek GDP growth >2x EU average • Strong foundations for sustainable growth Nominal GDP 8.3% 5.5% 4.3% 4.3% • Tourism, FDI & consumption drive growth Inflation 3.5% 2.7% 2.
Slide 56: Strong economic momentum with contained inflation and record tourism
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 Q4.24 14.0 Headline Inflatio
Slide 57: Favourable Greek economic profile with investment grade status 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 S&P, Fitch & DBRS; reflecting effectiveness of fiscal discipline and reforms in Ne
Slide 58: Shareholder structure skewed to international investors
Shareholder structure skewed to international investors Shareholder structure (Mar.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: Absorption of Piraeus Financial Holdings by Piraeus Bank
Commencement of the process for the 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 approv
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 debt issuance
Publicly-placed outstanding debt issuance €600mn 8.75% €500mn 3.875% €350mn 8.25% €500mn 7.25% €500mn 6.75% €500mn 7.250% €500mn 5.00% €650mn 4.625% €650mn 5.375% PerpNC5.5 AT1 6NC5 SP Green 5NC4 SP Notes 5NC4 SP Notes 6NC5 SP Notes 10.25NC5.25 Tier 2 6NC5 SP Notes 5NC4 SP Green 11NC6 T2 Notes Notes
Slide 62: Outstanding debt redemption profile
Outstanding debt redemption profile Outstanding debt call dates (€mn) 5NC4 PerpNC5.5 AT1 SP Green 11NC6 Tier 2 Notes Jul.28 Sep.30 Jun.26 6NC5 SP 5NC4 6NC5 10.25NC5.25 6NC5 Green SP Notes SP Notes Tier 2 SP Notes Nov.26 Jul.27 Dec.28 Apr.29 Apr.29 5NC4 SP Notes Jan.26 650 650 600 500 500 500 500 Ann
Slide 63: Group balance sheet evolution
Group balance sheet evolution Group balance sheet (€mn) Mar.24 Dec.24 Mar.25 qoq yoy Cash & balances with central banks 11,108 7,423 5,129 -31% -54% Loans & advances to banks 1,614 2,352 2,166 -8% 34% Gross loans 37,148 41,375 42,052 2% 13% (Loans loss reserves) (784) (691) (704) 2% -10% Securities/
Slide 64: Group results | quarterly evolution
Group results | quarterly evolution (€mn) Q1.24 Q2.24 Q3.24 Q4.24 Q1.25 Net interest income 518 528 530 514 481 Net fee income 145 179 156 167 160 Net trading result (4) 7 33 28 19 Other operating result (including dividend income) (67) 12 (10) 21 (10) Total net revenues 592 726 709 730 649 Total ne
Slide 65: Earnings per share calculations
Earnings per share calculations Earnings per share (€) Q1.24 Q2.24 Q3.24 Q4.24 Q1.25 1,246 1,245 1,247 1,246 1,247 Core operating profit 307 305 296 287 275 AT1 coupon (mn) (13) (13) (13) (13) (13) Core operating profit adjusted (mn) 294 292 283 274 262 Core EPS 0.24 0.23 0.23 0.22 0.21 Normalized o
Slide 66: Loan and deposit portfolios
Loan and deposit portfolios Gross loans evolution (€mn) Deposits evolution (€mn) Dec.21 Dec.22 Dec.23 Mar.24 Dec.24 Mar.25 qoq yoy Dec.21 Dec.22 Dec.23 Mar.24 Dec.24 Mar.25 qoq yoy Group 37,018 37,270 37,395 37,148 40,456 41,478 3% 12% Group 55,442 58,372 59,567 58,591 62,853 61,439 -2% 5% Senior 6,
Slide 67: 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 Mar.242 Dec.241,2 Mar.251,2 Δ yoy (€bn) Stage 1 19.1 17.6 18.4 19.6 26.5 30.4 32.3 32.1 36.2 37.3 16% Stage 2 6.3 6.6 5.7 6.0 5.6 4.3 3.8 3.7 3.1 3.1 -17% Stage 3 32.9 27.3 24.5 22.4 4.9 2.6 1.3 1.
Slide 68: Definitions of APMs
Definitions of APMs1 CET1 capital ratio, as defined by Regulation (EU) No 575/2013, for Dec.23 subtracting (-) from the denominator the RWA of the NPE portfolios classified as HFS as at 31 December 2023 1 CET1 capital ratio (pro forma) and for Dec.24 and Mar.25 subtracting (-) from the denominator t
Slide 69: Definitions of APMs
Definitions of APMs 20 Net result/ Net profit Profit / (loss) attributable to the equity holders of the parent 21 Net revenues Total net income The ratio between the amount of available stable funding relative to the amount of required stable funding based on Regulation 2019/876 of the European Parl
Slide 70: 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 71: 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 72: 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 IR Manager Yvonne Papageorgiou IR Manager 4 Amerikis str
Slide 73: Piraeus Financial Holdings
MM Piraeus Financial Holdings
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