Eurobank Q1 Profit Grows Slightly as Lending and Wealth Management Improve
Eurobank Reports Modest Profit Growth in First Quarter
May 7 (Reuters) - Greece's Eurobank on Thursday reported a 0.7% year-on-year increase in adjusted net profit to 351 million euros ($413.09 million), supported by strong loan growth and higher fee income.
The lender said earnings were supported by credit expansion across its core markets and a sharp increase in wealth management activity, while capital and asset quality metrics remained robust.
Key Financial Highlights
Loan Growth and Interest Income
• Organic loan growth of 1.1 billion euros in Q1, up 9.8% year-on-year
• Net interest income rose 4.0% year-on-year to 664 million euros
Fee and Commission Income
• Fee and commission income jumped 19.9% on the year to 203 million euros, led by lending and wealth management
Capital and Asset Quality Metrics
• CET1 at 15.4%, NPE ratio at 2.6%
International Operations
• Non-Greek operations contributed 47% of adjusted net profit
Management Commentary and Outlook
CEO Statement
2026 Plan and Geopolitical Risks
• CEO Fokion Karavias said Eurobank remains on track to deliver its 2026 plan despite heightened geopolitical risks
Additional Information
Exchange Rate
($1 = 0.8497 euros)
(Reporting by Antonis Pothitos; Editing by Kirsten Donovan)
