Eurobank Ergasias ( (EGFEY) ) has released its Q4 earnings. Here is a breakdown of the information Eurobank Ergasias presented to its investors.
Eurobank Ergasias is a prominent financial institution operating in the banking sector, primarily serving Greece, Cyprus, and Bulgaria with a diverse range of financial services.
In 2024, Eurobank Ergasias reported financial results that exceeded expectations, showcasing significant growth in earnings and strategic advancements. The bank achieved a reported net earnings per share of €0.39, with a notable contribution from regional operations accounting for 48% of earnings.
Key financial highlights include a 15.3% year-on-year increase in net interest income, reaching €2,507 million, and a 22.4% rise in net fee and commission income to €666 million. The bank’s core operating profit before tax surged by 21.1% to €1,782 million, while adjusted net profit rose by 18.2% to €1,484 million. Eurobank’s capital adequacy remained robust with a CET1 ratio of 15.7%, and the NPE ratio decreased to 2.9%. The bank also announced a 50% profit distribution to shareholders through dividends and share buybacks.
Looking ahead, Eurobank’s 2025-2027 business plan aims to sustain a return on tangible book value of around 15% per annum. The bank plans to drive growth through credit expansion, asset management development, and synergies from its leading position in Cyprus. Eurobank’s strategic focus on regional diversification and robust capital base positions it well for continued success in the coming years.