Recurring expenses amounted to 58.9 million euros profits ahead of her predictions CrediaBank in the nine months of 2025, marking a 116% jump over the corresponding period in 2024.
CrediaBank’s impressive increase in profits follows the completion of the Attica Bank – Pankritia Bank merger, the consolidation of the balance sheet and the strengthening of activity on all fronts. Recurring profit before tax reached €40.8m, up from just €2.2m a year ago, while net profit after tax came in at €9.9m, compared to a €343m loss in last year’s nine months.
The CEO of the bank, Eleni Vrettou, emphasized that 2025 was a turning point, with the first issuance of international bonds in the history of CrediaBank, the change of corporate identity, the operational integration and the creation of the new “New Experience” store concept. This strategy also includes the planned acquisition of 70% of HSBC Malta, subject to the necessary supervisory approvals, which will strengthen the bank’s international presence.
On the financing side, new loan disbursements in the nine months reached 2.4 billion euros, up 45% year-on-year and already above the annual target of 2.1 billion euros. About 47% of new loans were directed to small and medium enterprises and individuals, while the remaining 53% to large enterprises, reflecting the bank’s shift to generating new business. Net credit growth was €848m in the nine months, with €306m in the third quarter alone.
Net interest income increased by 86% to €120.5 million, while net fee income increased by 120% to €26.3 million, now accounting for 16% of recurring revenue. Group core revenue increased by 92% to €146.8 million and recurring operating income reached €164.5 million, up from €86.2 million a year ago.
The improvement in profitability is accompanied by a strong cost picture and portfolio quality. The cost-to-recurring revenue ratio fell to 64.2% from 68.3% in the nine months of 2024, despite an increase in operating expenses due to the merger. Deposits amounted to approximately €6.7 billion, up 16%, with CrediaBank showing a loan-to-deposit ratio of 62% and a liquidity coverage ratio of 184%.
On an asset quality level, the NPL ratio stood at 2.9% from 54.1% a year ago, remaining flat from the previous quarter, with the NPA coverage ratio at 47.8%. The CET1 ratio stood at 10.6%, significantly above the minimum regulatory threshold, while the total capital adequacy ratio stood at 17.6%, absorbing the upfront restructuring costs and the acceleration of credit expansion.