Piraeus Financial Holdings raises 2025 loan growth guidance By Investing.com

Piraeus Financial Holdings reported robust Q3 results, with a net profit of €261 million, surpassing expectations and boosting its return on tangible book value to nearly 14%. The bank raised its loan expansion target for FY2025 to over €3.5 billion, having already achieved €3.1 billion in the first nine months. Net interest income remained steady, aided by increased bond investment income and lower deposit costs. Lending spreads narrowed slightly, but the bank anticipates a 1% increase in Q4, assuming ECB rates remain at 2%. Non-performing loans decreased, and the bank's capital strength improved, with a common equity tier one ratio of 14.4%. Piraeus is optimistic about the future, raising its return on tangible book value forecast to 15% for FY2025 and projecting strong fee income.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.