Its main finances announced today (8.5.2025). National Bank clearly profits EUR 381 million for the first quarter of 2025.
Specifically, the National Bank’s tax profits stood at € 381 million at the Group level in the first quarter of 2025, reflecting the resilience of revenue and the continued decline in credit risk costs, the bank’s announcement said today.
In detail:
- Reduction of net interest revenue by -9% on an annual basis in the first quarter of 2025, according to our estimates for 2025, as a result of the drastic reduction of interest rates (~ 100 MB cumulative in Quarter 2024 and the first quarter of 2025), which was compensated in part by partial credit rating, (hedging), as well as further optimization of deposits mixture
- Increase of+13% per year on a comparable basis in the first quarter 2025, with strong performance both in retail (+15% annually) and corporate banking (+35% on an annual basis). Cross -sales of investment products continue unabated (investment products +60% on an annual basis), with the impressive increase in our market share in 2024 to be maintained in the first quarter 2025
- Increasing repetitive operating costs by +5% per year in the first quarter of 2025, reflecting higher staff costs, due to increased wages and variable remuneration, as well as our investments in human capital, including recruitment of new executives and skills development. The cost of the cost of the Second Quarter Voluntary Exit Program will be fully imprinted in the second semester 2025 onwards
- The cost of credit risk was 46 pm. In the first quarter 2025 (49 pm in Quarter 2024), reflecting favorable trends in the quality of our loan portfolio
- The same equity ratio stood at 19.1%, or 16.5% normalizing high income from financial acts in the first quarter 2025 (without adjustment to the CET1 excess capital above our inner target of 14%), exceeding the target> 13% we
High liquidity and strong capital adequacy balance sheet continues to stand out
- The increase in loans by +12% 4 on an annual basis in the first quarter of 2025 is favorably compared to our goal of an average loan increase of ~ 8% per year over the next 3 years, with net credit expansion in the quarter of +0.34 billion euros
- Loan disbursements amounted to EUR 1.6 billion in the first quarter 2025, increased by +41% annually, with a spearhead of businesses
- The optimization of the corporate customer balance sheet in the first quarter of 2025 was reversed in April 2025, as corporate banking deposits increased by +0.4 billion euros.
- Exposure to a fixed -efficiency debt of EUR 20.4 billion in the first quarter of 2025 (+2.9 billion euros on an annual basis) provides additional protection to net interest rate revenue against decreasing interest rates
- Our powerful cash -ons are a key comparative advantage by funding loan expansion and a high interest rate stable margin portfolio
- The ACE index stood at 2.6% at the Group level, with the absence of ACE flows allowing the normalization of credit risk costs below 50 AB. In 2025, according to our estimates
- Stage 3 Covering and Loans Coverage Indicators from Cumulated Forecasts stood at 97% and 54%, respectively, among the highest levels in Europe, providing durability of periods of uncertainty, highlighting the powerful balance sheet
The CET1 index amounted to 18.7%, with the total capital adequacy index standing at 21.5%
- The CET1 index amounted to 18.7%, reinforced by +40 MB. Since the beginning of the year, fully absorbing the increase in forecasting for distribution from 2025 to 60%5, as well as the accelerated depreciation of deferred tax credit (DTC). The total capital adequacy index stood at 21.5%
- Group’s Mrel index stood at 28.4%, fulfilling the final target Mrel of 26.8%
National Bank Managing Director Pavlos Mylonas said: “The global economy is going through a period of increased uncertainty, due to escalating commercial tensions, persistent inflation and the slower growth of growth, with forecasts for the course of economic activity in larger economies to be restrained. In this uncertain world scene, the Greek economy continues to be remarkable, with the expected growth rate approaching ~ 2.5% for the current year, as a result of enhancing employment, increasing real wages and strong tourist activity, while increasing in the world. From the US to products produced in the EU (exports to the US account for less than 5% of Greece’s total exports).
In addition, the significant relaxation of monetary and fiscal policy, as well as the reduction of oil prices are expected to further support the economy – but the main risk for these prospects is the degree of deceleration of the eurozone growth which is a key commercial partner of its partner.. Based on strong foundations from 2024 and utilizing Greece’s development and the consequent expansion of loans and other activities, in the first quarter 2025 we maintained our high profitability and strong capital base, mainly due to our revenue. Earnings after taxes amounted to EUR 0.41 billion, ie EUR 1,442 per share, while the same equity efficiency index stood at 16.5% 2, far exceeding the target of> 13% we have set for the year. Our strong results reflect the disciplined execution of our strategic priorities through the Bank Transformation and Development Program. Our capital position was further enhanced, thereby helping to maintain our strategy flexibility. The CET1 index and the total capital adequacy ratio increased by ~ 40 MB. From the beginning of the year to 18.7%and 21.5%, respectively, levels much higher than our internal targets, increasing the provision for distribution to 60%, as well as the corresponding decrease rate of deferred tax credit (DTC).
In an uncertain global environment, the National Bank demonstrates the strength, durability and adaptability of its business model. Our continuous investment in technology, in particular in digital banking, as well as the experience and dedication of our people, have made a decisive contribution to the achievement of sustainable results, to the upgrading of the experience we offer to our customers and to build a durable organization, ready to face the challenges of the future. As we move forward, we remain fully committed to supporting Greece’s growth course, which is based on strong bases, offering value to our shareholders and building an even more powerful and dynamic bank for the future. ”