Eurobank Ergasias Services and Holdings (EUROB) investor relations material

Executive summary

• Adjusted net profit reached €351 million in Q1 2026, with reported net profit at €331 million and return on tangible book value at 15.1%.

• Organic loan growth was €1.1 billion (+9.8% y-o-y), with strong expansion across Greece, Bulgaria, and Cyprus.

• Managed funds increased by €0.3 billion (+25.9% y-o-y), driven by wealth management.

• Non-Greek operations contributed 47% of adjusted net profit, highlighting franchise strength.

• The group completed the merger with Eurobank Holdings in December 2025, consolidating operations in Greece, Bulgaria, Cyprus, and Luxembourg.

Financial highlights

• Net interest income rose 4.0% y-o-y to €664 million; net interest margin at 2.46%.

• Net fee and commission income grew 19.9% y-o-y to €203 million, mainly from lending, insurance, and wealth management.

• Core operating profit reached €460 million, up 7.8% y-o-y; core pre-provision income was €536 million (+6.6% y-o-y).

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

• Operating expenses rose to €330 million (+8.5% y-o-y), with a cost/income ratio of 37.6%.

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 peers.

• Fee income expected to grow at least 7% organically for the year, with further upside from the Eurolife acquisition.

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

• OpEx guidance for 2026 is €1.33 billion, a 5.5% y-o-y increase, mainly driven by IT and staff costs.

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