Piraeus Bank reports stable first-quarter profit, higher fee income (updated)

Piraeus Bank SA

30/04/2026 08:48

Adds details on loans, dividend from paragraph 3

ATHENS, April 30 - Piraeus Bank BOPr.AT, Greece's third-largest lender by market value, reported stable quarterly net earnings on Thursday on higher fee income and increased loan business.

The bank reported net earnings of 281 million euros ($327.84 million) in the first three months of the year, compared with a profit of 284 million euros in the first quarter of 2025.

Piraeus' loan portfolio increased by 1.3 billion euros to 38.6 billion euros, Chief Executive Officer Christos Megalou said in a statement.

The bank, which promises to double its dividend per share to 0.80 euros by 2030, reported net interest income of 481 million euros for the first three months of the year, stable year-on-year.

The net interest income of Greek banks fell as interest rates in the euro zone declined last year, prompting them to try and diversify income sources by expanding wealth management and insurance businesses.

Piraeus acquired Ethniki Insurance last year. As a result, it said its insurance activities and wealth management business had boosted net fees by 31% to 210 million euros in the first quarter.

Its exposure to non-performing loans, and those that could become non-performing, was 2.1% at the end of March, down from 2.6% a year earlier.

 (Reporting Lefteris Papadimas, Editing by Louise Heavens)