CrediaBank (CREDIA) H1 2025 earnings summary

Executive summary

• Achieved record recurring pre-provision profit of €38.9 million in H1 2025, more than doubling year-on-year, driven by strong net interest and fee income growth, and became the fifth largest bank in Greece by assets after the merger and recapitalization.

• Completed operational merger and IT integration of Attica Bank, Pancreta Bank, and PCB ahead of schedule, establishing a unified entity and rebranding to CrediaBank.

• Launched new brand, CrediaBank, and began rebranding branch network with modern technology and customer-centric focus.

• Entered a put option agreement to acquire 70.03% of HSBC Malta for €200 million, with integration planning underway and full integration expected by end of 2026, pending regulatory approval.

• NPE ratio maintained at 2.9% post-balance sheet clean-up and major securitizations, with NPE coverage at 47.8%.

Financial highlights

• Net interest income surged 97% year-on-year to €78.5 million in H1 2025, with net interest margin up 20 bps to 2.2%.

• Fee and commission income more than doubled year-on-year to €17.0 million, now 19% of core revenues.

• Recurring profit before tax reached €27.6 million in H1 2025, up from €1.6 million a year ago; reported PBT was €8.5 million, impacted by €29 million in one-off restructuring charges.

• Group deposits grew to €6.6 billion, up 9% quarter-on-quarter and 103% year-on-year.

• Cost-to-income ratio improved to 62.5% (excluding non-recurring items), reflecting merger impacts.

Outlook and guidance

• CET1 ratio expected to return to ~11% by year-end 2025 through organic profitability and non-dilutive capital actions.

• Net credit expansion guidance remains above €1 billion for 2025, with a strong pipeline supporting this target.

• Integration of HSBC Malta to begin upon regulatory approval, with business plans for Greece, Malta, and the combined entity under revision.

• Digital transformation, product innovation, and further cost efficiencies prioritized for the remainder of 2025.

• HSBC Malta acquisition expected to be capital neutral and accretive to EPS and ROTBV.