Piraeus Bank S.A.: First Quarter 2026 Financial Results

Key Terms

assets under management financial

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

cost of risk financial

Cost of risk is the total expected financial hit a business expects from its exposure to loss, combining actual payouts (like claims or write‑downs), administrative expenses to handle those losses, and the capital set aside to cover them. Think of it as the combined “insurance premium, deductible and emergency fund” for a company; it directly affects profitability, cash flow and how much capital is tied up, so investors watch it to judge future earnings stability and management quality.

npe ratio financial

The NPE ratio measures the share of a bank’s loans and other credit exposures that are no longer being repaid as agreed (non‑performing) compared with its total lending. It matters to investors because it is a direct indicator of a lender’s credit quality and potential future losses—like the fraction of rotten apples in a fruit basket, a higher proportion suggests more hidden damage that can lower profits, require extra reserves, or trigger regulatory action.

npe coverage financial

NPE coverage is the proportion of a bank’s reserves or provisions set aside to absorb losses from loans and other exposures that are not performing (borrowers who are behind on payments or likely to default). Investors use it like an insurance ratio — higher coverage means the bank has a bigger cushion to absorb bad loans without hitting profits or capital, while low coverage signals more risk if defaults rise.

loan-to-deposit ratio financial

Loan-to-deposit ratio measures how much a bank has lent out compared with the money customers have deposited, expressed as a percentage. Think of it like the share of a household’s savings that has been loaned to others: a higher ratio can boost earnings but reduce cash on hand and increase risk, while a lower ratio means more liquidity but potentially lower returns—key for investors assessing a bank’s balance of profit and safety.

liquidity coverage ratio regulatory

The liquidity coverage ratio is a banking rule that measures whether a bank has enough high-quality, easy-to-sell assets to cover expected net cash outflows for 30 days. Think of it as a household’s emergency fund that must cover a month of bills; for investors, a higher ratio means the bank is better positioned to survive short-term stress, reducing the risk of fire sales, funding problems, or sudden capital needs that can hurt the share price.

cet1 ratio regulatory

CET1 ratio measures a bank's core equity capital (the most loss-absorbing funds like common stock and retained earnings) relative to the size of its risk-adjusted assets. It shows how big the bank's financial cushion is compared with what it has on its books; a higher ratio means greater ability to absorb losses, lower regulatory risk, and generally more investor confidence in the bank's stability.

tangible book value financial

Tangible book value is the accounting measure of a company’s net worth after removing intangible items like goodwill, patents and trademarks, leaving only physical and financial assets minus liabilities. For investors it offers a clearer view of the company’s hard-asset backing per share—like estimating the cash you could get by selling the furniture, machinery and cash in a house—helping gauge downside risk and whether a stock may be cheaply valued.

ATHENS, Greece--(BUSINESS WIRE)-- Piraeus Bank S.A. (ATHEX: TPEIR) (OTCQX: BPIRY) (OTCQX: BPIRF) Q1 2026 highlights

Strong loan expansion and client assets growth

• Loans at €38.6bn, with €1.3bn net credit expansion in Q1, supported by all business lending segments
• Mortgage lending recovery continues, with €30mn net credit expansion in Q1; €185mn mortgage disbursements, up 95% yoy
• Client deposits shaped at €64.9bn, +6% yoy
• Client assets under management (AuM) up by 17% yoy, at €14.7bn, with €0.5bn net inflows in Q1

Sustainable profits and shareholder returns

• Solid profitability of €281mn, which translates to 15% normalized return on tangible book value, in line with 2026 target of c.15%
• €0.21 earnings per share, on track to meet the €90c full year EPS target
• Tangible book value per share at €6.11, +3% qoq; combined with dividends paid, shareholder value creation +6.5% yoy
• Core revenues at €692mn, +8% yoy, with strong loan volume and fee growth offsetting lower rates and spreads
• Revenues from services rose to €210mn, at 32% yoy; revenues over assets at market leading 0.94%
• Cost-to-income ratio at 37%, confirming cost discipline despite temporary impact from trading book volatility
• Cash distribution of €494mn out of 2025 net profits approved at the AGM, planned to be paid to Piraeus shareholders on 15 Jun.26, subject to regulatory consent

Balance sheet management to sustain growth and low risk profile

• Controlled organic cost of risk at 32bps
• NPE ratio at 2.1% vs. 2.6% a year ago and NPE coverage at 70% vs. 64%, respectively
• Optimizing loan-to-deposit ratio to 68% through market leading credit growth
• Solid liquidity coverage ratio at 191%, with unutilized capacity to improve further

Capital ratios with comfortable buffers

• CET1 ratio at 12.6% absorbing robust loan growth, the 57% distribution accrual for 2026, and accelerated DTC amortization; total capital ratio at 18.5% with c.260bps buffer, above 2026 overall capital requirement including P2G

View source version on businesswire.com: https://www.businesswire.com/news/home/20260430127524/en/

PressOffice@piraeusbank.gr

Source: Piraeus Bank S.A.