Positive was the performance of her Eurobank Holdings in the first quarter of 2025, as announced today (8.5.2025) by the bank, with the rise of net profit by 9.4%.
Specifically, Eurobank’s total net profit stood at € 314 million in the first quarter of 2025.
In more detail:
- Net interest income increased by 11.7% annually and stood at € 638 million. The net interest rate margin dropped by 34 basis points per month to 2.53%.
- Net revenue from remuneration and supplies were raised by 24.8% against the first quarter of 2024 and amounted to € 169m, mainly due to network revenue and property management, corresponding to 67 basis points over total assets.
- As a result of the above, organic revenue increased on an annual basis by 14.2% to EUR 807 million and total revenue was raised by 9.6% against the first quarter of 2024 to EUR 827 million.
- Operating costs increased by 6.0% in Greece and 33.0% at the Group level or 5.6% excluding the Hellenic Bank to EUR 304 million. Cost – organic revenue and cost -revenue indicators stood at 37.7% and 36.8% respectively in the first quarter 2025.
- Organic pre -forecast profits increased on an annual basis by 5.2% to EUR 503 million. Total earnings before forecasts decreased against the first quarter of 2024 by 0.6% to EUR 523 million.
- Predictions of precarious claims increased by 7.5% to EUR 76 million against the first quarter of 2024 and corresponded to 59 basis points on average grants.
- As a result of the above, organic operating profits before tax increased on an annual basis by 4.8% to EUR 426 million,
- Customized net profits stood at € 348 million and was reduced by 9.0%annually. Total net profit increased by 9.4% compared to the first quarter of 2024 to EUR 314 million. Earnings per share and performance of the tangible equity stood at EUR 0.09 and 16.2% respectively in the first quarter 2025.
- Abroad activities were profitable with customized net profit reinforced on an annual basis by 27.2% to EUR 184 million in the first quarter of 2025 and contributing 52.7% to the group’s total profitability. In particular, customized net profits were reinforced in Cyprus (Eurobank Cyprus + Hellenic Bank) by 31.3% against the first quarter of 2024 to 121 million euros and in Bulgaria by 14.0% over the same period at EUR 55 million.
- The Non -performing OPEN (NPE) index stood at 2.9% and the NPE coverage of cumulative forecasts to 89.1% in the first quarter 2025.
- Capital proficiency was maintained at strong levels, with the index of total competence (CAD) and the CET1 joint shares index standing at 18.9% and 15.5% respectively.
- The equity equity per share increased to EUR 2.39 in the first quarter of 2025 from 2.14 euros a year ago.
- The total assets stood at € 100.4 billion, of which € 57.8 billion in Greece, 27.3 billion euros in Cyprus (18.4 billion Greek bank) and € 12.1 billion in Bulgaria.
- Fight loans were organically reinforced by EUR 1.2 billion in the first quarter of 2025, which 0.8bn. euro in Greece and 0.4 billion euros abroad. The total lending (pre -foreseeing) lending stood at € 53.1 billion, of which € 35.2 billion in Greece, € 8.8 billion in Cyprus (€ 5.9 billion Hellenic Bank) and EUR 8.2 billion in Bulgaria. At Group level, business loans amounted to € 31.8 billion, mortgages of € 12.5 billion and consumer at € 4.6 billion.
- Customer deposits decreased by € 1.5 billion in the first quarter of 2025, which 1.3 billion euros in Greece and € 0.2 billion abroad. The total deposits of deposits stood at € 77.1 billion, of which € 42 billion in Greece, 23.2 billion euros in Cyprus (€ 15.9 billion Greek bank) and € 9 billion in Bulgaria. The deposits for deposits stood at 67.0% and the liquidity coverage index at 182.8% in the first quarter 2025.
- Managed customer funds increased by 29% on a yearly basis and stood at € 8.1 billion at the end of the first quarter of 2025. In addition, the asset and passive of the private banking customers was raised by 13% on an annual basis and amounted to EUR 13.2 billion.
Eurobank Managing Director Fokion Karavia said: “In the first quarter of 2025 markets were characterized by increased variability. The duties confrontation could escalate into a trade war, affecting international trade and global economic development. Greece, Cyprus and Bulgaria are expected to be less affected by the small size of trade with the US and the stable flow of investment from European funding. However, they may be secondary to the impact on the eurozone. However, in Europe, and especially in Germany, there is a shift from a conservative fiscal approach to implementing targeted measures to support economic growth and stability.
In this unstable environment, the bank’s performance was particularly positive in the first quarter and in accordance with our business plan. Increase in grants remained strong and amounted to 10% annually. Managed funds continued to increase and overseas activities contributed more than half of the total profits, highlighting the power of our business model. Without underestimating the risks of the unstable international environment, the performance of the first quarter makes us optimistic that we will achieve our plan for 2025. Interest rates will be on average lower than our business plan, but the increase in loans are expected to reach out. In conclusion, we confirm our goal of rendering the same capital of about 15% for the year. “