Piraeus Bank Sa ( (BPIRY) ) has released its Q4 earnings. Here is a breakdown of the information Piraeus Bank Sa presented to its investors.
Piraeus Bank SA is a leading financial services provider in Greece, known for its comprehensive banking solutions and innovative digital transformation initiatives. The bank operates primarily in the financial sector, offering a wide range of services including retail and corporate banking, asset management, and investment banking.
In its latest earnings report for the full year 2024, Piraeus Bank SA announced a record net profit of €1.1 billion, marking a 38% increase year-over-year. The bank also highlighted a significant 12% growth in its loan portfolio and a proposed cash dividend of €373 million, reflecting its strong financial performance and commitment to shareholder returns.
Key financial metrics from the report include a 17.5% normalized return on tangible book value, a cost-to-core income ratio of 30%, and a net interest margin of 2.7%. The bank’s asset quality improved with a non-performing exposure (NPE) ratio of 2.6%, down from 3.5% the previous year, and a total capital ratio of 19.9%. Additionally, client assets under management saw a 23% increase, driven by mutual fund performance and institutional mandates.
Looking ahead, Piraeus Bank SA is focused on sustaining its growth trajectory through strategic initiatives such as digital transformation, sustainable financing, and expanding its client base. The bank aims to maintain its position as a leading financial services group in Greece, with plans for continued investment in technology and innovation to enhance customer experience and operational efficiency.