Piraeus Bank is placing emphasis on its growth in Greece, leveraging the momentum of the domestic economy, as stated by the CEO of Piraeus Bank, Christos Megalou, in an interview with Dow Jones Newswires.

“International expansion is taking a secondary role, as Greece and the prospects arising from its convergence with EU levels are very important for us,” Mr. Megalou said. He also stressed that “if Piraeus proceeds with acquisitions, making use of its excess capital, in areas such as investment banking, brokerage services, or asset management, these will take place within Greece.”

“The strengthening of the Greek capital market through the acquisition of the Athens Stock Exchange by the pan-European exchange group Euronext, a development that will enhance market liquidity, is an opportunity for Piraeus to upgrade its already dominant position in brokerage services and emerge as a regional investment banking force,” he underlined. “We can leverage our market position and significantly strengthen it,” he added.

The CEO of Piraeus referred to the strategy for further growth in the wealth and asset management sector. By the end of 2025, the bank will have €14.5 billion in assets under management and aims to increase this as part of its new strategic plan.

When asked about the impact on Europe from conflicts in the Middle East and a possible supply shock to economies, Mr. Megalou said it would depend on the duration of the conflict. “Greek companies have withstood many crises in recent years, and Piraeus does not see an immediate impact on its portfolios,” he added.

The report refers to the bank’s new five-year strategic plan, which aims to take advantage of Greece’s economic growth — expected to exceed the European average — and increase domestic investment. “As the largest bank in both lending and deposits, Piraeus plays a decisive role and contributes to the country’s development,” Mr. Megalou stressed.

Regarding the 2026–2030 strategic plan, the group expects double-digit loan growth and diversification of revenue streams, which will contribute to increased profitability by 2030 and the distribution of a total of €5 billion in cash dividends to shareholders over the five-year period.

It is also noted that a top priority for Piraeus is the integration of National Insurance, and that through the merger of the insurance company into its banking operations, Piraeus aims to sell insurance products through its branch network to generate stable commission income. It is further highlighted that for additional diversification, Piraeus has created the digital bank Snappi to attract younger and more tech-savvy customers.