Karavias says Eurobank on track with 2025 targets amid global risks
Eurobank Holdings on Friday posted total net profits of €314 million for the first quarter of 2025, marking a 9.4 per cent increase compared to the same period in 2024.
The bank announced that organic revenues rose by 14.2 per cent year-on-year in the first quarter, reaching €807 million, while total revenues increased by 9.6 per cent to €827 million.
Eurobank’s overseas operations were notably profitable, with adjusted net profits growing by 27.2 per cent year-on-year to €184 million in Q1 2025, contributing 52.7 per cent to the group’s total profitability.
In Cyprus, which includes Eurobank Cyprus and Hellenic Bank, adjusted net profits rose by 31.3 per cent compared to the first quarter of 2024, reaching €121 million.
In Bulgaria, adjusted net profits increased by 14.0 per cent over the same period, amounting to €55 million.
The bank’s non-performing exposures (NPE) ratio stood at 2.9 per cent, with NPE coverage from cumulative provisions reaching 89.1 per cent in the first quarter of 2025.
Capital adequacy remained strong, with the total capital adequacy ratio (CAD) at 18.9 per cent and the common equity tier 1 (CET1) ratio at 15.5 per cent.
Customer deposits decreased by €1.5 billion in Q1 2025, with €1.3 billion withdrawn in Greece and €0.2 billion abroad.
Total deposit balances reached €77.1 billion, including €42 billion in Greece, €23.2 billion in Cyprus (€15.9 billion at Hellenic Bank), and €9 billion in Bulgaria.
The loans-to-deposits ratio stood at 67 per cent, while the liquidity coverage ratio was 182.8 per cent in the first quarter of 2025.
Performing loans increased organically by €1.2 billion in Q1 2025, with €0.8 billion added in Greece and €0.4 billion abroad.
Moreover, total gross loans (before provisions) stood at €53.1 billion, of which €35.2 billion were in Greece, €8.8 billion in Cyprus (€5.9 billion at Hellenic Bank), and €8.2 billion in Bulgaria.
Group-wide, corporate loans amounted to €31.8 billion, mortgage loans to €12.5 billion, and consumer loans to €4.6 billion.
Earnings per share reached €0.09, while return on tangible equity stood at 16.2 per cent for the first quarter of 2025.
“In this volatile environment, the bank’s performance in the first quarter was particularly positive and in line with our business plan,” stated Eurobank CEO Fokion Karavias.
“Without underestimating the risks from the unstable international environment, the performance of the first quarter makes us optimistic that we will achieve our 2025 plan,” he added.
“The tariff confrontation could escalate into a trade war, affecting international trade and global economic growth,” he added.
“Greece, Cyprus, and Bulgaria are expected to be less affected due to the small size of their trade transactions with the US and the stable flow of investment from European funding,” he concluded.
