Piraeus aims to lead the financial services sector through its strategic initiatives

The performance of the Greek banking system continues to be strong, as does its response to the financing needs of the country. Bank liquidity and capital adequacy remain high and at levels well above the mandatory supervisory requirements, stated the Chairman of Piraeus Bank, George Chatzinikolaou, speaking at the Bank’s Extraordinary General Meeting of Shareholders.

The loan-to-deposit ratio remains significantly lower in Greek banks compared to banks in the Eurozone, offering room for further credit expansion. The cost of bank borrowing for businesses and households declined this year, following the direction of the Eurosystem’s monetary policy, he also noted.

Speaking about Piraeus Bank, he said that the first half of 2025 marked a period of significant progress. Piraeus, as the bank with the largest footprint in the Greek economy — with the largest branch network, the highest deposit base, and the largest domestic loan portfolio — is fortified with strong liquidity, a robust balance sheet, and sufficient capital reserves. The bank finances, and will continue to finance, the development of the Greek economy and create value for its shareholders, he emphasized.

“Our role is not limited to financing the economy, meeting needs, and serving our customers. We are part of the society in which we operate, and we aspire to be more than that. Our purpose is to actively contribute to building a sustainable society, giving back a part of the value we create to the community. And this is what guides — and will continue to guide — all our activities,” he stated.

In this direction, he referred to the Bank’s active participation in the "Marietta Giannakou" Program — a national initiative for the renovation and upgrading of school buildings across Greece — implemented by the Building Infrastructure Organization in collaboration with the Hellenic Bank Association. This is the largest Corporate Social Responsibility initiative in the country.

With an initial donation of €100 million from the four systemic banks, works were carried out over the summer that improved safety, functionality, accessibility, and aesthetics in 430 kindergartens, primary schools, junior high schools, high schools, and special education schools across all regions of the country. He reaffirmed the Bank’s strong commitment to supporting the State in the field of education through the expansion of its contribution to the “Marietta Giannakou” program in 2025 and the years to come.

Speaking at the Extraordinary General Meeting of Piraeus Bank, the CEO, Christos Megalou, said that based on the Bank’s strong performance in the first half of 2025, it is on a steady course toward achieving its strategic goals and upgraded financial targets for the 2025–2028 period.

“Our strategy is to be the leading financial services group in Greece, with consistent, long-term growth,” he stated.

The main pillars of Piraeus Bank’s strategy include:

Customer-centric approach, with annual loan growth of approximately 8% and an increase of €1 billion in the retail loan portfolio during the four-year period through 2028; growth of assets under management by approximately 8% annually; and the launch of new products.

Focus on shareholders, with sustainable annual profitability of €1.1 billion through 2027 and approximately €1.3 billion in 2028, along with market-leading operational efficiency and cost discipline, maintaining a cost-to-income ratio of around 35% throughout the business plan period.

Attention to Piraeus Bank’s people, through investment in the workforce of the future and performance-based compensation.

Successful launch of the new digital bank, Snappi — an innovation platform with ambitious goals in Greece and abroad.

Emphasis on technology, cybersecurity, and Artificial Intelligence, with significant investments in capital expenditures.