Piraeus Bank Reports Robust 2025 Profitability and Strategic Growth

by THEFUTURE.TEAM

February 26, 2026

Piraeus Bank reported profitability of €1.1 billion in 2025, with return on tangible equity reaching 16%, excluding extraordinary items. The results reflect continued earnings growth and stronger operating performance as the bank expands lending activity and diversifies revenue sources.

Impressive Profitability In 2025

The bank posted a net profit of €250 million in the fourth quarter of 2025. Net interest income reached €477 million during the quarter, up 1% sequentially, supported by higher loan volumes and stable asset performance. Net interest margin remained at 2.25%, reflecting disciplined balance sheet management amid a changing interest-rate environment.

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Solid Fourth Quarter Performance

Fourth-quarter results showed improving momentum, supporting the bank’s annual net interest income target of €1.9 billion. Lending activity contributed to stronger fee generation, with net fee income rising to €206 million, up 23% year over year. Growth was supported by asset management fees, investment banking activity, and bancassurance services.

Diversification Of Income Streams

Fee-based income continued to play a larger role in overall profitability. Net fee income accounted for 29% of total net revenues, reaching €696 million for the year and exceeding the bank’s target of €650 million. The inclusion of Ethniki Asfalistiki in consolidated results also expanded the bank’s service portfolio and supported revenue diversification.

Strategic Moves And Sustainable Growth

CEO Christos Megalou said in an interview that 2025 was shaped by strong execution and strategic expansion. The bank recorded an 11% increase in its loan portfolio, with net credit expansion reaching €4 billion, above annual targets.

With improved asset quality and a growing share of fee-based income, management says the bank is positioned to maintain stable performance as market conditions evolve.

Looking ahead, Piraeus Bank plans to present updated targets at its Capital Markets Day in London on March 5, 2026. The bank currently holds €66 billion in deposits and €14.5 billion in investment funds under management, highlighting its scale within the Greek banking sector.

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Cyprus Government Surplus Rises To €1.61 Billion In First Nine Months Of 2026

by THEFUTURE.TEAM

November 5, 2026

Cyprus recorded a general government surplus of €1.61 billion in the first nine months of 2026, equal to 4.0% of gross domestic product, as revenue growth outpaced the rise in public spending. Higher receipts from income taxes, social contributions and value-added tax (VAT) drove the improvement, while lower capital expenditure helped restrain spending.

Preliminary figures released Tuesday by the Statistical Service of Cyprus show the surplus rose to €1.17 billion, or 3.0% of GDP, up from € 442.1 million in the same period of 2025.

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Total government revenue increased 6.5% to €12.09 billion, while expenditure rose 2.9% to €10.48 billion.

Key Fiscal Measure	January–September 2025	January–September 2026
Total revenue	€11,353.9 million	€12,091.8 million
Total expenditure	€10,186.2 million	€10,482.1 million
Government surplus	€1,167.6 million	€1,609.7 million
Surplus as a share of GDP	3.0%	4.0%

Income Taxes And VAT Lead Revenue Growth

Taxes on income and wealth made the largest contribution to the increase in revenue. Receipts in this category climbed by €442.2 million, or 15.3%, to €3.34 billion, compared with €2.89 billion a year earlier.

Social contributions rose by €235 million, or 6.6%, to €3.78 billion. Taxes on production and imports increased by €251.5 million, or 7.2%, reaching €3.77 billion.

Net VAT receipts, after refunds, totalled €2.64 billion, up €293.1 million, or 12.5%, from €2.35 billion in the first nine months of 2025.

Some Revenue Streams Decline

Not all revenue categories moved higher. Capital transfers fell by €74.6 million to €96.7 million, while current transfers declined by €71.6 million, or 20.5%, to €278.2 million.

Revenue from services slipped 1.0% to €743.5 million. Interest and dividend receipts dropped by €37 million, or 28.6%, to €92.4 million.

Social Benefits And Personnel Costs Increase

On the expenditure side, social benefits rose by €199.6 million, or 4.9%, to €4.27 billion. Compensation of employees—which includes imputed social contributions and public-sector pensions—increased by €108.3 million, or 3.8%, to €2.99 billion.

Intermediate consumption, covering goods and services used in the delivery of public services, rose by €114.3 million, or 11.0%, to €1.16 billion. Interest payments increased by €8.7 million, or 2.6%, to €340.7 million. Current transfers were up €68.7 million, or 10.6%, at €714.7 million.

Lower Capital Spending Limits Expenditure Growth

The overall increase in spending was tempered by a decline in capital expenditure. Capital-account spending fell by €189.9 million, or 16.9%, to €936.2 million from €1.13 billion in the same period last year.

Investment in fixed capital declined by €94.1 million, or 12.1%, to €686.4 million. Other capital transfers fell by €95.8 million, or 27.7%, to €249.8 million. Subsidies also decreased, dropping by €13.9 million, or 15.5%, to €75.8 million.

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