Corrected: UPDATE 1-Piraeus Bank reports higher first-half profit, boosted by strong interest and fee income

Piraeus Bank SA

29/07/2026 08:52

Corrects paragraph 7 period to six months, not nine
ATHENS, July 29 - Piraeus Bank BOPr.AT, Greece's third-largest lender by market value, reported higher first-half earnings on Wednesday, boosted by strong loan expansion and fee income.
Net earnings of €617 million euros ($703.01 million) were up from €559 million in the first half of 2025.
Piraeus, which promises to double its dividend per share to 0.80 euros by 2030, said its fee income rose by 42% to €462 euros in the January-to-June period.
The bank, which acquired Ethniki Insurance last year to boost the sale of insurance products through its network, expects profit of about 1.1 billion euros annually up to 2027, rising to about 1.3 billion euros by 2028.
Greek banks have seen net interest income shrink in previous quarters, spurring them to try and diversify income sources by expanding wealth management and insurance businesses.
Piraeus' loan portfolio increased by €1.8 billion to €39 billion at the end of June, Chief Executive Officer Christos Megalou said in a statement.
The bank's net interest income stood at €990 million in the first six months of the year, up 3.7% on the year. Non-performing exposure ratio was 2.2% at the end of June, down from 2.6% a year earlier.

 (Reporting by Lefteris Papadimas; Editing by Clarence Fernandez
Editing by David Goodman)
 ((clarence.fernandez@thomsonreuters.com; +6568703861; RM:clarence.fernandez.thomsonreuters.com@thomsonreuters.net))