CrediaBank, which recently confirmed an agreement with HSBC regarding the potential majority acquisition in HSBC Malta, announced its Financial Results for H1 of 2025. The bank said in a statement Monday that it "delivered a dynamic performance further strengthening its position as the 5th largest bank in Greece and reaffirming its consistent upward trajectory that is driving its expansion into international markets".
The Group reported improvements across all core business metrics, achieving enhanced and high-quality profitability. Recurring Pre Provision Income amounted to €38.9 million, reflecting a 124% year-on-year increase.
Recurring Operating Income reached €111.1 million, compared to €52.4 million in the same period last year, marking a 112% increase, the bank said. On a half-year basis, net recurring interest income rose by 97%, reaching €78.5 million. This growth was primarily driven by net credit expansion of €542 million, the increase in the bond portfolio, and the benefits of the merger of Attica Bank and Pancreta Bank, that formed CrediaBank. These strong results provide tangible proof of the Bank's sound strategy and establish a solid foundation for its next growth steps beyond Greece, with Malta as now a priority new market.
The net interest margin in Q2 rose by 20 basis points compared to Q1, reaching 2.2%, placing CrediaBank among the top performers in the banking sector in Greece. Net fee and commission income also increased substantially, reaching €17 million, representing a 132% year-on-year increase. This growth was supported by higher loan production, issuance of letters of guarantee, transaction banking, and primarily, increased fees from the wealth management business
Customer assets under management rose to €810 million, an 8% increase since year-end 2024, with the bank continuing to expand its market share in this area, the bank said.
The bottom line was impacted by restructuring charges due to the merger (including a voluntary exit program and branch closures and relocations). Excluding these one-off costs and other non-recurring revenues, recurring pre-tax profit stood at €27.6 million, compared to €1.6 million in the corresponding period last year. Aforementioned actions are part of the Bank's broader cost optimization efforts and have been frontloaded in order to exploit the synergies following the merger the soonest possible. The cost synergies achieved should start feeding profitability in the coming quarters. Annual cost synergies exceeding €14 million have been identified and realized within the first half of the post-merger year.
CrediaBank's loan portfolio recorded substantial growth in H1 2025, with net credit expansion reaching €542 million, far outpacing the industry average growth rate. The Bank captured approximately 11% of the market as far as net new (loan) production is concerned. New loan disbursements reached a record-high of €1.6 billion, the best first-half performance in the Bank's history. Roughly 50% of new loans were directed to SMEs and households.
Total Group deposits amounted to €6.6 billion, marking an 8% increase compared to the end of the previous year. The loan-to-deposit ratio stood at 58.3%, the bank said.
The NPE ratio shaped at 2.9%, compared to 57.7% in the same period of 2024, flat against the previous quarter.
The Total Capital Adequacy Ratio reached 17.3%, following the issuance of Tier 1 (AT1) and Tier II instruments in June, well above minimum regulatory requirements. Thus, the Bank maintains both the liquidity and capital strength required to continue financing the Greek economy seamlessly.
Commenting on the H1 2025 results, CrediaBank's CEO, Eleni Vrettou stated: "For CrediaBank, 2025 is a pivotal year, a year of transformation, a year of new beginnings. Our Bank has now a clear identity, a modern structure, and a dynamic presence. We are an institution that combines financial stability with strategic vision and a human personable approach. The first half of 2025 confirms our steady upward trajectory. These results are not only evidence of healthy growth but also proof that our strategy addresses market needs while justifying the trust placed in us by our shareholders, clients, and partners. With the operational merger in Greece now complete, we are laying the groundwork for the full implementation of our business plan, driving significant upgrades to the customer experience across all channels and activities. The Bank is reintroducing itself with a renewed vision and a strategy that blends agility, international outlook, and a human-centered approach."