Net credit expansion of 2.5 billion euros, with a positive contribution and loan To individuals, predicted for this year’s use of National Bank (EIB) CEO Pavlos Mylonas, presenting the first quarter results to analysts.
As he said, for the goal of increasing net lending 8% this year, the National Bank has achieved a 12% increase in the first quarter, and has a large “tail” of routes to be disbursed in 2025. Mr Mylonas said he was more optimistic about my home. Of course, that until the disbursement of the loans it is 4 months, so the picture of the applications will be shown with a lag).
Regarding the increase in net credit expansion, Mr Mylonas said that the National Bank would also be active in consortium loans in Europe, in the fields of energy, infrastructure and tourism. As he said, the EIB is also looking at the Middle East (Ryad) for consortium loans, with up to € 300 million in Islamic law loans.
As mentioned, EIB’s lending abroad is made through the subsidiary in Cyprus. Mr Mylonas was also asked about the EIB report on shipping loans (since shipping would be hit by the duties) and said that the portfolio was 3 billion. And it has powerful collaterals. As he said, however, EIB’s report on shipping is not in containers that are influenced by US duties mainly, but on tankers and less on cargo ships.
As the National Bank administration said, the strong increase in lending, along with the Hedging of interest rates on which the bank has made, as well as the reduction of deposits and further improvement of their mixture, has restricted the reduction of interest rate revenue. Promotions were also compensated for revenue, which increased by 13%, mainly from corporate banking (+35% on a yearly basis).
The administration highlighted the large increase in supplies from investment products (+60% annually), with an impressive increase in EIB’s market share in mutual funds in 2024 maintained in the first quarter of 2025. Net revenue from EIB supplies increased by € 14% per year (€ 102 million). A government in daily transactions amounted to 6m euros in the first quarter.