Piraeus Bank is about to achieve its strategic objectives and upgraded financial targets for the period 2025-2028, CEO Christos Megalou said speaking at the Bank’s extraordinary general meeting.
“Our strategy is to be the leading financial services group in Greece, with consistent, long-term growth. The key pillars of our strategy are the profitable growth of customer assets, sustainable returns at a level of 15% and the distribution of more than 2 billion euros to our shareholders cumulatively by 2028,” he said.
Key points of Piraeus’ objectives include:
- Customer-centric approach with loan expansion of around 8% per year and an increase of 1 billion in the retail loan portfolio over the 4-year period to 2028, an increase in assets under management of around 8% per year, as well as the launch of new products
- Focus on shareholders with sustainable profitability of 1.1 billion per year by 2027 and around 1.3 billion in 2028 as well as market-leading operational efficiency and cost discipline with a stable cost-to-income ratio of around 35% over the course of the business plan
- Focus on Piraeus’ people with investment in the people of the future and performance-based remuneration
- Successful launch of the new digital bank Snappi – an innovation platform, with ambitious goals in Greece and abroad
- Focus on technology, cybersecurity and Artificial Intelligence, with significant investments in capital expenditures.
