Piraeus Bank

Piraeus Bank

Greece's leading bank offering full services

Overview

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About Piraeus Bank

Simplify's Rating
Why Piraeus Bank is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Quantitative Finance

Financial Services

Company Size

5,001-10,000

Company Stage

IPO

Headquarters

Athens, Greece

Founded

1916

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Simplify's Take

What believers are saying

  • H1 2026 profit reached €617 million, and management raised full-year NII guidance.
  • S&P upgraded Piraeus to BBB- on July 20, 2026, unlocking cheaper funding.
  • Deposits hit €68.4 billion and loans €39 billion, supporting fee and interest growth.

What critics are saying

  • Greek competition compresses spreads as Alpha, Eurobank, and NBG chase the same borrowers.
  • Legal overhang totals €188 million, with €40 million already provisioned at March 2026.
  • Ethniki Insurance integration and 54% DTC-to-CET1 dependence expose capital to regulatory shocks.

What makes Piraeus Bank unique

  • Piraeus leads Greek retail and business banking, with 29% loan and deposit share.
  • Winbank and the 2026 AI Hub with Accenture and Anthropic modernize delivery.
  • Ethniki Insurance and lending breadth diversify income beyond plain vanilla banking.

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Funding

Total Funding

$9.5M

Above

Industry Average

Funded Over

0 Rounds

Benefits

Health Insurance

Wellness Program

Flexible Work Hours

Stock Price

Company News

Business Wire
Jul 29th, 2026
Piraeus Bank posts record $691M profit in H1 2026 with 16% return on tangible book value

Piraeus Bank reported record first-half 2026 profits of €617 million, representing a 16% return on tangible book value. The Greek bank's second-quarter net profit reached €336 million, up 22% year-on-year. Loans grew to €39 billion, with €1.8 billion net credit expansion in the first half. Client deposits rose 9% year-on-year to €68.4 billion, whilst assets under management increased 24% to €16.3 billion. Net interest income reached €509 million in the second quarter, up 6% quarter-on-quarter. The bank upgraded its 2026 net interest income target to €2 billion based on strong volume growth. Piraeus maintained a 34% cost-to-income ratio whilst its NPE ratio improved to 2.2% from 2.6% a year earlier. The bank will pay €494 million to shareholders on 7 August from 2025 profits.

Streamline Feed
Jul 20th, 2026
Inside Metlen Energy’s €181M Solar Expansion Strategy in Romania

Greek firm Metlen Energy secures €181M to construct a 273-megawatt solar plant in Romania, providing a masterclass in cross-border renewable finance.

Chambers and Partners
Jun 29th, 2026
Bernitsas advises Vivartia Group on $169.5M bond loan from Greek banks

Bernitsas has advised Vivartia Group on a €150 million common secured bond loan issued by Vivartia Holdings Single Member SA. The bond loan was subscribed by Piraeus Bank, Alpha Bank and Eurobank, with Piraeus Bank serving as bondholder agent and facility agent. Vivartia Group is Greece's largest food and catering services group. Partner Athanasia Tsene and Associate Marina Spinthouraki led the transaction for Bernitsas, which acted as Greek law counsel.

Capital Riesgo
May 14th, 2026
Ella Resorts secures $802M financing to expand luxury resort portfolio across Mediterranean

Ella Resorts, a luxury resort operator in Greece founded in 2021 by H.I.G. Capital, has secured €710 million in financing, marking a significant milestone for the company. Piraeus Bank acted as lead underwriter for the transaction, with Alantra serving as exclusive financial adviser and placement agent. The funding will support Ella Resorts' repositioning strategy in Greece and enable selective acquisitions across the Mediterranean region. The company currently operates approximately 3,400 rooms in prime Greek destinations and has secured a pipeline of around 1,000 additional rooms in Greece, Italy and Iberia. H.I.G. Capital, a global alternative investment firm managing over €65 billion in assets, established Ella Resorts to create value through repositioning and expansion in high-quality holiday destinations.

Associated Press
Apr 30th, 2026
Piraeus Bank reports $315M Q1 profit with $1.5B loan growth and 95% mortgage surge

Piraeus Bank reported first quarter 2026 profits of €281 million, achieving a 15% normalised return on tangible book value and earnings per share of €0.21. The Greek bank recorded €1.3 billion in net credit expansion, bringing total loans to €38.6 billion, whilst client deposits reached €64.9 billion. The bank's cost-to-income ratio stood at 37%, with revenues from services rising 32% year-on-year to €210 million. Non-performing exposure ratio improved to 2.1% from 2.6% a year earlier, with coverage at 70%. Piraeus Bank's annual general meeting approved a €494 million cash distribution from 2025 profits, scheduled for payment on 15 June 2026 subject to regulatory approval. The bank's CET1 ratio stood at 12.6%, whilst total capital ratio reached 18.5%.

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