Optima bank (OPTIMA) Q1 2026 earnings summary

Executive summary

• Net profit for 1Q 2026 reached €47.5mn, up 22% year-over-year, driven by strong growth in loans, deposits, and fee income, as well as disciplined cost management and balance sheet expansion.

• Loans grew 38% YoY to €5.5bn, and deposits increased 34% YoY to €6.4bn, both outpacing market growth; loan disbursements up 27% YoY.

• Asset under management rose 29% YoY to €5.6bn, with significant mutual fund inflows.

• Asset quality remained strong, with NPE ratio at 1.31% and NPL ratio at 0.43%, among the lowest in the market.

• Announced acquisition of up to 80.8% of Euroxx, a leading Greek investment house, for €65.5mn; expected to close in 2H 2026 and be EPS accretive from day one.

Financial highlights

• Net interest income for 1Q 2026 was €62.0mn, up 25% YoY; net fee and commission income was €19.0mn, up 56% YoY.

• Cost to core income ratio improved to 23.2% from 26.3% YoY.

• Earnings per share rose to €0.21, up 22% YoY.

• Tangible book value increased to €0.8bn, with total assets at €7.8bn, up 37% YoY.

• Operating expenses increased 16% YoY to €18.7mn, mainly due to higher payroll costs.

Outlook and guidance

• FY 2026 guidance reiterated: loans to reach €6.2bn (+€1.1bn), deposits €7.7bn (+€1.4bn), net profit >€195mn.

• Management remains confident in the resilience of the Greek economy and the bank’s ability to sustain attractive returns.

• Focus remains on supporting clients and selective growth, anchored on thorough risk assessment.

• NPE ratio expected to remain below 2.0%, and cost to core income below 30%.

• Acknowledges international challenges and potential spill-over effects from the Middle East crisis.