Greek and Cypriot banks expand maritime financing market share

Greek and Cypriot banks have significantly increased their market share in financing the Greek shipping industry. According to an analysis by Allied QuantumSea, the combined share of Greek and Cypriot banks in total banking lending to Greek shipowners rose from 34.7% to 41.5% in 2025, reaching $24.8 billion.

Total banking lending to Greek shipowners grew by 11.5% to $59.69 billion in 2025. The four largest Greek banks—National Bank of Greece, Eurobank, Piraeus Bank, and Alpha Bank—saw their combined lending increase by 35.1%, rising from $17.28 billion in 2024 to $23.35 billion in 2025. In contrast, lending from international banks saw a marginal decrease of 0.2%, totaling $34.89 billion.

Looking toward 2026-2027, Greek banks are expected to remain a major source of funding, though competition is rising. Asian leasing houses and other non-bank financial entities are expected to increase their presence by offering higher loan-to-value ratios and more flexible repayment terms compared to the approximately 60% ratio maintained by traditional banks.