National Bank Reports €381 Million Net Profit in Q1 2025

In a statement released on May 8, 2025, the National Bank announced its key financial figures for the first quarter of 2025, showcasing a robust net profit of €381 million at the group level. The bank’s post-tax profits reflect resilient revenue streams and continued cost optimization efforts. Specifically, the results highlight a -9% annual decrease in net interest income due to significant interest rate reductions, which were partially offset by healthy credit expansion, customer deposit hedging, and further optimization of deposit mix. Additionally, there was a +13% annual increase in provisions during Q1 2025, driven by strong performances in both retail (+15%) and corporate banking (+35%). Cross-selling of investment products surged by +60% annually, maintaining impressive market share growth in mutual funds from 2024 into Q1 2025. Operating expenses rose by +5% year-over-year due to higher personnel costs, investments in human capital, and new staff recruitment. Despite challenges, the bank achieved an impressive return on equity (ROE) of 19.1%, exceeding its target of >13% for 2025. Paul Mylonas, CEO of the National Bank, emphasized the resilience of the Greek economy amidst global uncertainties and underscored the bank’s commitment to supporting Greece’s developmental trajectory.