Piraeus Bank is moving to revise its guidance for 2027, with an emphasis on NII, income from servicers and CT1, given its particularly strong performance in 2026.
“Despite continued uncertainty internationally and the crises facing economies, the Greek economy’s macroeconomic fundamentals remain on a stable and healthy trajectory,” the bank’s chief executive, Christos Megalou, said earlier at a briefing for analysts on the nine-month results.
The presentation was also attended by CFO Theodoros Gnardellis. “The bank has already achieved its 2026 targets, and this year has brought significant benefits from diversifying revenue streams. National Insurance is leading this strategy,” Mr Megalou added.
National Insurance
In response to a question about National Insurance, bank executives stressed that the Danish Compromise is not expected to be applied in the medium term.
Growth will be organic, and National Insurance is ready to launch new products through the bank’s network from the beginning of 2027, generating revenue from bancassurance operations.
Spreads
The narrowing of margins in the Greek market is estimated at 20 basis points. Piraeus Bank’s spreads stand at 2.02%. Bank executives said there was competition in the market, but that conditions were easing.
Shipping
“Our shipping finance is based on conservative client selection, and the portfolio has no issues,” Mr Megalou said, adding that the bank would maintain the same conservative approach to client selection in 2027. “It is something we assess year by year,” he said.
Corporate loans
The sectors on which the bank will focus its corporate lending are tourism and hospitality, energy, construction and manufacturing.
Non-performing loans
The bank’s non-performing exposures fell to 2% following the securitisation carried out in recent months. Management did not rule out a further securitisation.
Snappi
The group’s neobank already has 260,000 customers on its app, deposits of €130 million and 23,000 borrowers. “Our aim is to double the number of customers in 2027 and increase deposits to €400 million-€500 million,” management said.
Finally, the bank recorded new inflows into assets under management of €1.3 billion in the third quarter.