Piraeus Bank raised its 2025 distribution target to 55%, CEO Christos Megalou told analysts. For 2026, the bank leans toward cash distributions. In 2025, it will distribute €0.40 per share in cash, on top of a €100 million share buyback completed in Q4.
Total distributions for 2025 reach €592 million, implying a 7% total yield.
Fees and profitability strengthen results
Fees increased 7% in 2025, absorbing government measures and competitive pressure.
- Loan fees benefited from strong loan disbursements.
- Investment banking made a solid contribution to results.
- Asset management fees rose on continued client inflows into mutual funds.
- Bancassurance revenues remained strong, with National Insurance contributing around €10 million for roughly one month included in the 2025 balance sheet.
As expected, fund transfers and payment fees declined due to government measures introduced in early 2025.
Supreme Court ruling and balance-sheet impact
Regarding the Supreme Court decision on the Katseli Law, management said the bank holds €50 million in loans under the scheme, which had supported vulnerable borrowers. Any balance-sheet impact will represent a percentage of that €50 million. The bank reserved judgment on the impact on securitisations until the full ruling becomes clear.
Lending outlook and sector momentum
The bank expects a very strong Q1 in credit expansion. For 2025, total disbursements reached €11.105 billion, with net credit growth of €3.640 billion and 4,571 active customers.
- SMEs remain the backbone: €2.341 billion in disbursements to 1,967 clients.
- Shipping shows strong momentum: €1.418 billion in disbursements and €622 million net credit growth.
- Energy, renewables, and power generation received €1.156 billion, supporting 53 clients with €366 million net credit growth.
- Hospitality and international syndicated finance expanded dynamically at €925 million and €629 million, respectively.
- Leasing, factoring, and structured finance supported 960 clients with €1.508 billion in disbursements.
The platform also covers agriculture, trade, refineries, real estate, and mining, highlighting broad geographic and sector diversification.
Piraeus Bank will present details of its Business Plan on 5 March 2026, during an Investment Day in London.
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