Piraeus Bank S.A.: Full Year 2025 Financial Results

Financial Performance - Piraeus Bank reported a total capital ratio of 18.7%, with a CET1 ratio of 12.7% and MREL at 29.0%, indicating a buffer of approximately 275 basis points above P2G and 165 basis points above the requirement [1][1][1] - The bank achieved a net revenue of €2.7 billion, with revenues from services increasing by 7% and net interest income (NII) showing a quarter-on-quarter increase [1][1][1] - The bank's earnings per share (EPS) reached €0.82, surpassing the guidance of €0.80 for the year, and reported a normalized profit of €1.2 billion [1][1][1] Asset Management and Growth - Piraeus Bank experienced a 27% year-over-year increase in assets under management (AuM), totaling €14.5 billion, with net inflows of €1.5 billion in 2025 [1][1][1] - The bank reported a net credit expansion of €3.9 billion, leading to an 11% year-over-year loan growth, while maintaining pricing discipline [1][1][1] Dividend and Shareholder Returns - The bank announced a cash dividend of €0.40 per share, in addition to a €100 million share buyback executed in Q4, resulting in a total distribution of €592 million for 2025, equating to a 7% total yield [1][1][1] Efficiency and Cost Management - Piraeus Bank achieved a cost-to-core income ratio of 33%, reflecting best-in-class efficiency despite inflation and ongoing investments [1][1][1] - The bank's organic cost of risk (CoR) was reported at 52 basis points, with a non-performing exposure (NPE) ratio of 2.0% and NPE coverage increasing to 73% from 65% a year ago [1][1][1]