In 2024, the company achieved €2.65 billion in revenue (up 15.09%) and €1.07 billion in earnings (up 35.28%). The bank recently strengthened its capital adequacy ratio to 20.6% through strategic initiatives including an €400 million AT1 capital raise. The company maintains a strong dividend policy with €0.72 per share paid in dividends over 12 months as of February 2026.
Cyborg Score Rationale
Piraeus offers attractive financial metrics with a P/E of 8.6x and FCF/EV yield of 19%, indicating strong valuation. The bank has demonstrated improved earnings momentum and capital strengthening, though it operates in the competitive Greek banking sector with ongoing NPL management considerations.
Top Insights
Strong earnings growth momentum with €854 million net profit in 9M 2025 delivering 15% return on tangible book value
Strategic capital management through €400 million AT1 issuance at attractive 6.75% coupon, strengthening total capital ratio to 20.6%
High dividend yield positioning with €0.72 per share annual distribution translating to 8.31% yield at current valuations
Recognized as Greece's Best Performing Bank in The Banker's 2025 Top 1000 World Banks rankings
Named Competitors
Eurobank — Greek banking competitor with pan-European operations
National Bank of Greece — Largest Greek bank with diversified operations
Alpha Bank — Major Greek banking group with international presence
Recent Developments
(June 2025) Successfully priced €400 million Additional Tier 1 perpetual notes at 6.75% coupon
(December 2024) Achieved CDP A- rating for climate change, highest among Greek banking peers
(2025) Q3 2025 delivered €854 million net profit with 15% return on tangible book value across 9 months
(February 2026) 2025 full year results announcement scheduled for February 26, 2026
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