Greek Banks Set to Announce High Q1 Earnings Starting Tomorrow

The highly anticipated Q1 earnings season for Greek banks begins tomorrow, with the four major banks dominating announcements this week. On May 6, Piraeus Bank will release its results, followed by Eurobank and National Bank on May 8, and Alpha Bank on May 9. Analysts expect robust recurring profitability, with combined net profits of the four systemic banks estimated at €1.085 billion for Q1 2025, compared to €1.089 billion in the same period last year. The banks have shown resilience in interest income despite reduced interest rates from the ECB, cost containment, and further reductions in non-performing loans (NPEs). Interest income remains a key focus as banks enter an era of lower interest rates. In Q1 2024, Piraeus Bank reported net profits of €233 million, Eurobank €287 million, National Bank €358 million, and Alpha Bank €211 million. Each bank showcased strong capital adequacy ratios and declining NPE ratios, reflecting ongoing improvements in their financial health.