Eurobank Ergasias Services and Holdings (EUROB) Q1 2026 earnings summary

Executive summary

• Adjusted net profit reached €351 million in Q1 2026, with reported net profit at €331 million and ROTBV at 15.1%.

• Net interest income rose 4.0% year-over-year to €664 million, and commission income surged 19.9% to €203 million.

• Organic loan growth reached €1.1 billion (+9.8% y-o-y), with strong credit expansion across all core markets.

• Non-Greek operations contributed 47% of adjusted net profit, with SEE operations delivering €165 million.

• Integration of recent acquisitions, organic growth, and sustainability initiatives remain strategic priorities.

Financial highlights

• Net profit for Q1 2026 was €331 million reported, €351 million adjusted.

• Net interest income rose 4.0% year-on-year to €664 million; net fee and commission income grew 19.9% to €203 million.

• Managed funds increased by €0.3 billion (+25.9% y-o-y) to €10.2 billion.

• Core pre-provision income up 6.6% year-on-year to €536 million; core operating profit reached €460 million, up 7.8%.

• Total assets at €108.0 billion, customer deposits at €82.4 billion, and loans at €55.7 billion.

Outlook and guidance

• Confident in achieving the full-year 2026 loan growth target of €3.8 billion, with all core markets expected to outperform eurozone growth.

• Fee income expected to grow at least 7% organically year-on-year, with further upside from Eurolife.

• OpEx guidance for 2026 is €1.33 billion, a 5.5% year-on-year increase.

• Cost of risk projected to remain at 55 basis points for the full year.

• Macroeconomic risks include geopolitical tensions, persistent inflation, and challenges in EU fund absorption.