Piraeus Bank reported net profit of €893 million for the first nine months of 2026, up 9% year on year. Core operating profit hit a record €930 million, up 14%. Loans reached €39.6 billion after €2.2 billion of net credit expansion, with the bank on track to beat its 2026 target of more than €3 billion. Client deposits rose 9% to €69.2 billion, while client assets under management grew 19% to €16.9 billion. Revenues from services climbed 39% to €679 million, led by Ethniki Insurance. Earnings per share were €0.68, and the cost-to-income ratio was 33%. The non-performing exposure ratio fell to 2.0% from 2.2% a quarter earlier. The CET1 ratio stood at 12.9%. Piraeus plans an interim dividend of about €124 million in December, subject to supervisory approval.

Ethniki Insurance, a subsidiary of Piraeus Bank, has priced its inaugural €200 million subordinated bond issuance, marking the first such transaction by a Greek insurer. The dual-tranche offering comprises a €100 million Tier 2 bond with a 5.25% coupon and 10.25-year maturity, and a €100 million Restricted Tier 1 perpetual bond with a 6.875% coupon. The transaction attracted approximately 100 institutional investors and was more than 3.0 times oversubscribed, with order books peaking above €600 million. International investors received over 70% of allocations, primarily from France and the UK. Following the issuance and redemption of an outstanding €125 million Tier 2 instrument, Ethniki Insurance's Solvency II ratio stands at approximately 190% as of 30 June 2026. Settlement is scheduled for 9 September 2026, with listing on the Luxembourg Stock Exchange.