Eurobank reported positive performance in the first nine months of 2026. Details:
- Net interest income rose 8.7% year on year to €2.068bn. In Q3 2026, it increased 5.0% quarter on quarter to €719m, driven by growth in interest-bearing assets and higher ECB interest rates (the ECB’s deposit facility rate averaged 229 basis points in Q3 2026, compared with 204 basis points in Q2 2026).
- Net fee and commission income rose 13.0% year on year to €630m, mainly on higher income from lending, wealth management and insurance activities. It was equivalent to 76 basis points of total assets.
- Organic revenue increased 9.7% year on year to €2.698bn, while total revenue rose 10.8% to €2.776bn.
- Operating expenses rose 6.9% year on year to €995m, while the cost-to-income ratio improved to 35.8% from 37.1% in the first nine months of 2025.
- Organic pre-provision profit rose 11.4% year on year to €1.703bn, while total pre-provision profit increased 13.1% to €1.781bn.
- Loan impairment provisions fell 5.5% year on year to €224m, equivalent to 53 basis points of average loans.
- Organic operating profit before tax rose 14.4% year on year to €1.478bn.
- Adjusted net profit came to €1.209bn, up 14.3% year on year, while total net profit rose 12.4% to €1.161bn.
- Earnings per share and return on tangible equity came to €0.31 and 16.9%, respectively.
- Adjusted net profit from international operations was broadly unchanged at €555m, accounting for 45.9% of Group profit. In Cyprus, adjusted net profit fell 3.9% year on year to €356m, while in Bulgaria it rose 9.2% to €182m.
- The non-performing exposure (NPE) ratio stood at 2.4%, while NPE coverage by accumulated provisions was 81.9% as at 30 September 2026.
- Capital adequacy remained strong, with the total capital adequacy ratio (CAD) and the Common Equity Tier 1 (CET1) ratio standing at 20.4% and 15.5%, respectively, as at 30 September 2026.
- Tangible book value per share was €2.65 as at 30 September 2026, up 7.7% year on year.
- Total assets stood at €114.2bn as at 30 September 2026, including €66.9bn in Greece, €29.4bn in Cyprus and €14.8bn in Bulgaria.
- Loans grew organically by €3.8bn in the first nine months of 2026, including €2.0bn in Greece and €1.8bn in international operations. Gross loan balances stood at €59.1bn as at 30 September 2026, including €38.6bn in Greece, €9.3bn in Cyprus and €10.1bn in Bulgaria. At Group level, business loans stood at €37.1bn, mortgages at €13.1bn and consumer loans at €5.3bn.
- Customer deposits rose by €4.7bn in the first nine months of 2026 to €87.2bn as at 30 September 2026, including €48.5bn in Greece, €24.3bn in Cyprus and €11.7bn in Bulgaria. The loan-to-deposit ratio stood at 66.4% and the liquidity coverage ratio at 174.4% as at 30 September 2026.
- Customer assets under management rose 22.3% year on year to €11.4bn as at 30 September 2026. The assets and liabilities of private banking clients increased 13.2% year on year to €15.9bn as at 30 September 2026.
Fokion Karavias: Strong performance
“With Europe facing a serious energy and inflation crisis with wide-ranging political and social consequences, concerns about fiscal deficits and rising public debt are at the forefront of market concerns. Against this backdrop, Greece and Cyprus stand out, with strong primary surpluses of 3.3% and 4.0% of GDP, respectively, and rapidly falling debt levels. Greece’s debt-to-GDP ratio is falling faster than that of any other EU country, while Cyprus’s debt-to-GDP ratio has fallen to 50%. Bulgaria also benefits from a low public debt-to-GDP ratio of around 33%, while the country’s adoption of the euro and the return of political stability further strengthen its economic outlook.
Against this backdrop, Eurobank continues to deliver strong performance. Its loan portfolio expanded by 10.5% year on year and by €3.8bn in the first nine months of 2026. Deposits rose 10.6% year on year and by €4.7bn since the start of the year, while assets under management increased by €2.1bn, or 22.3% year on year. As a result of this strong performance, return on equity reached 17%, with a strong contribution from international operations, which account for almost half of profits.
The results for the first nine months of 2026 demonstrate our ability to deliver steady organic growth and confirm that we can meet or exceed our full-year targets. The completion of the acquisition of Eurolife provides an additional growth driver, particularly in insurance and wealth management. Reflecting the strength of our performance and prudent capital management, we will distribute an interim dividend of 5.99 cents per share on 26 November.”
*Eurobank’s detailed nine-month results are published in the right-hand column under “Accompanying Material”.