Piraeus Financial Holdings S.A. (OTCQX: BPIRF; ATHEX: TPEIR) uses regular news releases to update investors on its banking operations, capital markets activity, strategic initiatives and recognition in external rankings. The news flow centers on the performance of its subsidiary Piraeus Bank S.A., highlighting developments in lending, deposits, assets under management, capital ratios and risk metrics.
On this page, readers can follow announcements on quarterly, half‑year and nine‑month financial results, where Piraeus reports net profit, earnings per share, return over tangible book value, net revenues, cost‑to‑core‑income ratio, non‑performing exposures ratio, cost of risk and liquidity indicators. These updates provide insight into the group’s profitability, efficiency, asset quality and capital strength over time.
News items also cover capital markets transactions, including Green Senior Preferred Bonds and Additional Tier 1 instruments, with details on coupon, maturity, investor demand, order book size and credit spreads. Piraeus explains how these issuances support its MREL position, optimize its capital stack and fund eligible green assets under its Green Bond Framework.
Investors can also track strategic and corporate developments such as the acquisition of Ethniki Insurance and the partnership with Qualco S.A. to build a digital mortgage solutions platform, as well as rating actions like Fitch’s upgrade to investment grade and recognition in The Banker’s Top 1000 World Banks rankings. Monitoring these news releases helps readers understand how Piraeus is expanding its franchise, enhancing digital capabilities, pursuing sustainability objectives and managing its balance sheet.
By reviewing the news feed for BPIRF, market participants gain a consolidated view of Piraeus’ financial performance, funding strategy, risk profile and key strategic moves as disclosed in its official announcements.
Piraeus Financial Holdings (OTCQX:BPIRY) has successfully priced a €400 million Additional Tier 1 (AT1) Perpetual Contingent Temporary Write-Down Notes offering. The notes carry a 6.750% coupon, paid semi-annually, and are callable from December 30, 2030. The offering, rated B1 by Moody's, was highly successful with over €3 billion in orders (7.5x oversubscribed) and attracted approximately 230 institutional investors.
The final yield of 6.75% came in 50bps below initial guidance, demonstrating strong investor confidence. The notes will strengthen the Group's total capital adequacy ratio to 20.6% (proforma Mar.25). International investors accounted for 90% of allocations, with major demand from UK & Ireland (37%), France (21%), and the DACH region (12%).
Piraeus Bank has successfully priced a €500 million Green Senior Preferred Bond with a 3.5-year maturity and a yield of 3.140%. The bond, expected to receive a Baa2 investment grade rating from Moody's, attracted overwhelming investor interest with orders exceeding €3.7 billion (7.4x oversubscribed). The proceeds will finance eligible green assets under Piraeus' Green Bond Framework.
This marks Piraeus' third green bond issuance, making it the only Greek bank with three green issuances totaling €1.65 billion. The transaction achieved the tightest credit spread (115bps) for any Senior Preferred Bond in the Greek space in recent years. The bank's proforma MREL ratio now stands at 29.6%, providing over 200bps buffer above the June 2025 requirement of 27.45%.
Piraeus Financial Holdings (BPIRY) reported strong Q1 2025 financial results with solid profitability of €284 million and earnings per share of €0.22. The bank achieved a 14.7% return on tangible book value, positioning it well to meet or exceed full-year targets.
Key highlights include: net revenues of €649mn (+10% YoY), fee income growth of 10% YoY, performing loans at €35bn (+16% YoY), and client assets under management reaching €12.5bn (+25% YoY). The bank maintains strong capital ratios with a CET1 ratio of 14.4% and total capital ratio of 19.5%. A cash dividend of €373mn from 2024 profits will be paid to shareholders on June 10, 2025.
The bank demonstrated improved asset quality with NPE ratio decreasing to 2.6% from 3.5% YoY, and cost of risk dropping to 35bps from 51bps YoY. Operating efficiency remains strong with a 35% cost-to-core-income ratio.
Piraeus Financial Holdings (OTCQX: BPIRY) has announced its Board of Directors' proposal for a significant cash dividend distribution. The proposal, to be presented at the Annual General Meeting on April 14, 2025, includes a distribution of €373 million, equivalent to €0.298 per share.
The proposed distribution will be structured as a capital reduction, making it exempt from withholding tax. Key dates for shareholders include: ex-dividend date on May 26, 2025, record date on May 27, 2025, and payment date on May 30, 2025.
Piraeus Financial Holdings (BPIRY) reported strong financial results for FY2024, achieving a record net profit of €1.1bn, up 38% year-over-year, with earnings per share of €0.81. Net revenues reached €2.8bn, increasing 7% in 2024, with fees growing 16% year-over-year.
The bank demonstrated robust performance with a 17.5% normalized return on tangible book value and maintained strong capital ratios with a CET1 ratio of 14.7%. Performing loans grew 12% to €34bn, while deposits increased 6% to €63bn. The bank's NPE ratio improved to 2.6% from 3.5% year ago.
Looking ahead, Piraeus unveiled its Business Plan 2025-2028, targeting loan growth of ~8% per annum and sustainable reported profitability of ~€1.1bn annually until 2027, reaching €1.3bn in 2028. The bank plans €2bn in shareholder distributions over the four-year period and will invest €200mn in AI initiatives.
Piraeus Financial Holdings has entered exclusive discussions with CVC Capital Partners' Fund VII to acquire a 70% stake in Ethniki Insurance for €469mn. The acquisition is expected to diversify and strengthen Piraeus' revenue pool while delivering significant value to shareholders.
The proforma impact on Piraeus' capital position is estimated at approximately 150bps as of September 2024, maintaining a comfortable Pillar 2 Guidance buffer exceeding 200bps. Piraeus plans to pursue the Danish Compromise, which could reduce the capital effect to below 100bps.
Ethniki Insurance is Greece's leading composite insurer with a 14% market share, €0.8bn in Gross Written Premiums, €4bn total assets, and €0.4bn shareholders' equity as of 2023. The company reported adjusted profit before tax of approximately €100mn in 2023. Its network includes 130 Sales Network Offices with over 1.6k Corporate Network Insurance Agents and extensive collaboration with insurance agencies and brokers.