Addiko Bank (ADKO) Q4 2025 earnings summary

Executive summary

• Net profit for 2025 was EUR 44.0 million, down 3.1% year-over-year, with EPS at EUR 2.28 and ROATE at 5.2%.

• Strong growth in new business: Consumer lending up 20%, SME lending up 11% year-over-year.

• Regulatory interventions and macroprudential measures in core markets constrained pricing and revenue, impacting profitability.

• Dividend distribution remains suspended due to unresolved shareholder structure and regulatory requirements.

• Strategic focus on Consumer and SME segments increased their share to over 91% of the gross performing loan book.

Financial highlights

• Net interest income declined by 1.8% year-on-year to EUR 238.4 million, while net fee and commission income rose 7.6% to EUR 78.5 million.

• Net banking income was stable at EUR 316.9 million.

• Operating result was EUR 109.8 million, down from EUR 112.3 million in 2024.

• Operating expenses rose 1.6% to EUR 195.4 million; cost/income ratio at 61.7%.

• EPS for 2025 was EUR 2.28, down from EUR 2.35 in the previous year.

Outlook and guidance

• Loan book expected to grow at a CAGR above 6% from 2025 to 2027; net banking income projected flat in 2026, with >5% growth in 2027.

• Operating expenses to stay below EUR 205 million in 2026 and 2027.

• NIM anticipated to remain above 3.6%; ROATE forecast at 4.5% in 2026, rising to 6% in 2027.

• Dividend remains suspended, with plans to resume once regulatory and shareholder issues are resolved.

• Specialization Program 2026–2028 launched to drive performance, business expansion, and transformation.