Piraeus Bank CEO salary to increase by 86.7%

The Board of Directors of Piraeus Bank has approved an 86.7% increase in the annual fixed compensation for CEO Christos Megalos. His previous fixed salary, which was already in the seven-figure range, is expected to rise to a new range of approximately 1.2 to 1.4 million euros for 2026 and beyond.

This decision comes amid discussions regarding the social impact of banking profits and the historical context of the Greek banking sector. While the salary increase is a legal decision recorded in the General Commercial Registry (GEMI), it has drawn scrutiny due to the previous state-funded recapitalizations of the banking system and the current economic pressures facing the Greek public.