Chairman Statement
2025 marks a defining year for the evolution of Piraeus. Having concluded a period of material reforms, we enter this new phase having firmly established a platform of strength, financial, strategic, technological and societal transformation while setting a clear course for sustainable development of the Greek financial system.
Along with the acquisition of Ethniki Insurance, Piraeus is leading the formation of an operating model centered on the diversification of sources of profitability and serving the new needs of the economy and society.
The Greek economy underpins our efforts as it continues to record growth rates, higher than the European average, demonstrating strong and resilient dynamics, backed by strengthened investments and a favorable environment. Amidst this backdrop, Piraeus delivered, for yet another year, solid profitability, while expanding its lending activity towards the real economy and ringfencing its balance sheet, amidst an environment of ongoing global uncertainty.
As a systemic financial institution, Piraeus is called to act as a catalyst for growth, stability, and long-term value creation for its clients, shareholders and its people.
In 2025, we channeled €13bn of new financings, supporting households, businesses and strategic sectors of the economy, and contributing meaningfully to investments, employment and competitiveness in the country.
A key milestone of the year was the acceerated execution of the Group’s transformation agenda. Piraeus is evolving into a streamlined, more efficient and technology-enabled organization, with digital capabilities and data leading our operating model.
Significant investments in technology – amounting to over €135mn from a total capital expenditure envelope of €200mn - are already yielding tangible benefits, enhancing operational efficiency, elevating customer experience and strengthening data-driven decision-making across the Group.
At the heart of our transformation are our people. We continue to invest in skills, leadership, and culture, building a workforce that is agile, digitally fluent, and future-ready. Talent rejuvenation, continuous upskilling, and high employee engagement remain essential pillars of our long-term competitiveness.
To further empower our teams, we have launched new leadership mentoring programmes and introduced modern, collaborative workspaces, already piloted in two major hubs, to foster innovation and flexibility.
These measurable investments in our people are strengthening the foundations of sustainable performance and ensuring Piraeus remains resilient and forward-looking.
In a world defined by rapid technological shifts, geopolitical complexity and evolving customer expectations, leadership is measured by clarity of direction and consistency of execution. Piraeus moves forward with confidence, purpose and responsibility, creating value for shareholders, supporting the real economy and contributing to the long-term progress of Greek society.
George Handjinicolaou
Chairman of the
Board of Directors