Greek banks are increasing their exposure to real estate, with disbursements in the sector growing by more than 50% as new investments worth millions are in the pipeline.
The publication of Alpha Bank’s financial results a few days ago brought the four systemic banks’ reporting cycle for the first nine months to a close.
The results presentations posted on the banks’ respective websites include interesting data on their involvement in the property market.
Of particular interest are the figures published by Alpha Bank and Piraeus Bank, which provide more information about their involvement in the sector. It should be noted that the presentation from National Bank of Greece is limited to third-quarter figures for mortgage loans (€6.4bn), as is Eurobank’s (€12.8bn at group level).
Piraeus Bank’s business loans
At Piraeus Bank, new business financing for real estate is increasing, approaching €400m.
Specifically, disbursements in the sector reached €395m in the first nine months, up 52% from €260m in the same period last year.
Of the bank’s total assets, those related to real estate rose to €3.4bn this year, from €3.3bn in 2025.
The bank’s balance sheet includes €2.1bn in unrecovered real estate assets and €1.2bn in recovered assets.
Alpha Bank’s position
Alpha Bank has also recorded an upward trend. Real estate accounted for 7% of the group’s loan portfolio in the first nine months, marginally up from 6% in 2025. In addition, €7m of total fee income came from real estate, compared with €2m in 2025.
It is also worth noting that the bank has set ambitious targets for new investments in the sector.
According to Ioannis Ganos, chief executive of Alpha Real Estate Services, the bank is targeting an income-generating property portfolio of close to €1bn over the next two years.
He added at a recent conference that Alpha Bank’s equivalent portfolio currently stands at around €500m.