CrediaBank (CREDIA) Q1 2025 earnings summary

Executive summary

• Achieved strong Q1 2025 performance with significant organic revenue growth and enhanced profitability, supporting business plan objectives.

• Completed merger with Pancreta Bank, creating Greece's 5th largest bank and accelerating transformation and integration initiatives.

• Locked in over one-third of planned cost synergies from merger actions, including voluntary exit and branch rationalization.

Financial highlights

• Recurring pre-provision income rose 132% year-over-year to €20.1 mln; recurring operating income doubled to €55.1 mln.

• Net interest income increased 90% year-over-year to €36.8 mln; net fee and commission income up 129% to €7.1 mln.

• Profit after taxes reached €0.1 mln, reversing a loss of €3.6 mln in Q1 2024.

• Total assets at €7.2 bln, net loans at €4.7 bln, and deposits at €6.0 bln.

Outlook and guidance

• Aims for ROTE above 20% and cost-to-income ratio below 40% by end of three-year plan.

• Expects to realize €30 mln in cost synergies by 2027, with further capital enhancement actions planned for H2 2025.

• Focused on completing operational merger and IT integration within 2025.