Optima bank (OPTIMA) Q1 2025 earnings summary

Executive summary

• Net profit for 1Q 2025 reached €39.0mn, up 19% year-over-year and 22% higher sequentially from 4Q 2024, reflecting strong business momentum and alignment with full-year guidance.

• Loans grew 42% year-over-year to €4.0bn, and deposits increased 43% to €4.8bn, outpacing market growth.

• Asset quality remains robust with NPE ratio at 0.90% and cost of risk at 0.52%, both well within guidance.

• Return on tangible equity (ROTE) reached 24.8%, significantly above Greek and EU peer averages.

• 2024 dividend set at €0.57 per share, a 30% increase year-over-year.

Financial highlights

• Net interest income (NII) rose 11% year-over-year to €49.5mn, despite a declining NIM (3.53%).

• Net fee and commission income increased 23% year-over-year to €12.1mn, driven by strong mutual fund, brokerage, and asset management activity.

• Pre-provision income grew 16% year-over-year to €52.2mn; cost-to-core income ratio improved to 26.3%.

• EPS for 1Q 2025 was €0.53, up 19% year-over-year.

• Total assets expanded 40% year-over-year to €5.7bn.

Outlook and guidance

• 2025 guidance reiterated: net profit expected to exceed €160mn, ROTE above 22%, and cost-to-core income below 30%.

• Targeting €1.25bn increase in deposits and €1.0bn net loan growth for FY 2025.

• NPE ratio expected to remain below 1.5% for the year.

• Plans to issue a T2 capital instrument by end of 2Q 2025 to enhance capital base and support growth.