Eurobank’s performance in 1H2026 was robust. Specifically:
▪ Net interest income rose by 6.1% y-o-y to €1,348m. Net interest margin receded by 5 basis points y-o-y to
2.46%, reflecting primarily lower ECB rates (1H2026 average ECB Deposit Facility Rate of 202 basis points,
compared to 252 basis points for 1H2025).
▪ Net fee and commission income expanded by 13.5% y-o-y to €414m, mainly due to higher fees from
Lending, Wealth Management Business and Insurance operations and accounted for 76 basis points of
total assets.
▪ Core income grew by 7.8% y-o-y to €1,762. Total operating income increased by 9.0% y-o-y to €1,810m.
▪ Operating expenses increased by 7.8% y-o-y to €662m, while the cost to total income ratio reached 36.6%
in 1H2026.
▪ Core pre-provision income was up by 7.7% y-o-y to €1,100m, whereas pre-provision income was up by 9.6%
to €1,148m.
▪ Loan loss provisions declined by 4.9% y-o-y to €148m, accounting for 53 basis points of average net loans.
▪ Core operating profit before tax was up by 10.0% y-o-y to €952m.
▪ Adjusted net profit was up by 9.2% y-o-y to €776m, while reported net profit was up by 6.8% to €738m.
▪ EPS and the return on tangible book value reached €0.20and 16.6%, respectively.
▪ The adjusted net profit of the non-Greek operations decreased by 3.3% y-o-y to €361m, contributing 46.5%
to the profitability of the Group. Specifically, the adjusted net profit in Cyprus declined by 7.7% y-o-y to
€231m and in Bulgaria was up by 7.8% y-o-y to €119m.
▪ The NPE ratio was 2.5% and the Provisions over NPEs were 82.4% at 30 June 2026.
▪ Capital adequacy remained robust, with Total CAD and CET1 ratios3
reaching 20.3% and 15.4% at 30 June 2026,
respectively.
▪ Tangible book value per share reached €2.57 at 30 June 2026, up by 8.0% y-o-y.
▪ Total assets amounted to €112.9bn at 30 June 2026, of which €66.0bn in Greece, €29.3bn in Cyprus and
€14.6bn in Bulgaria.
▪ Loans grew organically by €2.7bn in 1H2026, of which €1.4bn in Greece and €1.3bn in the non-Greek
operations. Total gross loans amounted to €58.1bn at 30 June 2026, of which €38.1bn in Greece, €9.2bn in
Cyprus and €9.8bn in Bulgaria. At Group level, business loans stood at €36.3bn, mortgages at €13.0bn and
consumer loans at €5.1bn.
▪ Customer deposits amounted to €86.4bn at 30 June 2026 (up by €2.9bn in 1H2026), of which €48.1bn in
Greece, €24.1bn in Cyprus and €11.6bn in Bulgaria. The loans to deposits ratio and the liquidity coverage ratio
were 66.0% and 174.1% at 30 June 2026, respectively.
▪ Managed funds grew by 29.2% y-o-y to €11.0bn at 30 June 2026. Private banking client assets and liabilities
increased by 10.2% y-o-y to €14.9bn at 30 June 2026.
“Despite persistent geopolitical uncertainty and renewed tensions in the Middle East, the economies of our
core markets have remained on a solid growth trajectory. The Greek economy has so far proven resilient, driven
by strong investment activity, tourism and continued credit expansion, underpinned by sustained demand for
business lending. At the same time, prudent fiscal management reinforces investor confidence and creates
fiscal space for targeted measures to mitigate the impact of inflation on the most vulnerable households. In
Cyprus and Bulgaria, economic sentiment and growth remain also robust.
In this environment, Eurobank continued to support economic growth and to deliver strong financial results.
Our loan book expanded by 10% annually in the first half and by €1.6 billion in the second quarter, while
managed funds, a key pillar of our strategy, increased by €2.5 billion on yearly basis.
Overall, the second quarter results demonstrate solid organic growth at an even faster pace than previously,
both in Greece and across the region. Despite ongoing geopolitical risks and economic uncertainty, the
strength of the underlying trends gives us confidence that we will exceed our full-year targets. Accordingly, we
now expect the 2026 EPS growth well above 10%, resulting at a RoTBV close to 17%, compared to the previous
guidance of 16%.”
Fokion Karavias, CEO
