The four largest Greek banks are expected to remain positive and stable in the first half of 2025, according to an analysis of financial results for Alpha Bank, Eurobank, National Bank and Piraeus Bank, Canada’s DBRS reports in a new note.

It said Greek banks recorded a total net profit of €2.4 billion in the first half of the year, up 4% year-on-year.

A strong performance in fees and income from financial operations, combined with tight cost control and stability in credit risk costs, offset the decline in net interest income.

Asset quality ratios and cost of risk are now close to the European average.

Liquidity and funding ratios remain at healthy levels and the industry’s capital adequacy is considered strong.

As Andrea Costanzo, Vice President of Europe’s Financial Institutions Ratings Directorate, said:

“The resilient performance in the first half of 2025 led to an upward revision of full-year profitability targets, mainly driven by stronger credit expansion and favourable asset quality developments. The strong capital base, as confirmed by Greek banks‘ performance in the EBA’s 2025 stress tests – which exceeded the European average – provides the strategic flexibility needed for the future.”