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2 clusters · 7 sources · 8 days · First seen · Last updated

Piraeus Bank financial and sustainability developments

Overview

Piraeus Bank has reached a milestone in its sustainable finance portfolio, which now totals 5 billion euros. At the UNEP FI Mediterranean Forum, CEO Christos Megalos stated that sustainability is an integral part of the bank’s strategy, affecting risk assessment and capital allocation. Megalos noted that the banking sector must identify and fund resilient investment projects within the next few years to mitigate economic risks stemming from geopolitical conflicts and environmental phenomena.

In terms of financial performance, Citi has projected that the bank will report a third-quarter net profit of €285 million, a 9% annual increase. While total revenues are expected to rise by 12% to €726 million, driven by increases in net interest and fee income, Citi has slightly lowered its 2026 earnings per share forecasts. This adjustment accounts for increased credit loss provisions and extraordinary charges, including €25 million for school reconstruction donations and €15 million for a voluntary redundancy program.

Entities

Piraeus Bank · Christos Megalos · UNEP FI · United Nations Environment Programme · Athens

Timeline

  1. [BUSINESS] 2 sources
    Piraeus Bank: Citi forecasts €285 million in Q3 net profit

    Citi maintains a ‘Buy’ rating for Piraeus Bank, forecasting Q3 net profits of €285 million and total revenues of €726 million.

  2. [BUSINESS] 6 sources
    Piraeus Bank reaches 5 billion euros in sustainable financing

    Piraeus Bank CEO Christos Megalos announced a 5 billion euro sustainable finance portfolio at the UNEP FI Mediterranean Forum in Athens, focusing on ESG-driven investment and the green transition.

Sources

bankwars.gr · capital.gr · energymag.gr · insuranceworld.gr · ot.gr · sofokleousin.gr · ypodomes.com