Eurobank S.A. released its interim consolidated financial statements on Monday, providing further detail on its performance following the initial publication of its financial results on last week.

The comprehensive report reveals a resilient adjusted net profit of €351 million for the three-month period ending in March 2026.

The group demonstrated sustained solid performance and organic growth during the first quarter of the year despite navigating a volatile geopolitical environment.

A primary driver of this success was the strong contribution from international operations, which accounted for 47 per cent of the total adjusted net profit.

The Cypriot market remained a vital pillar for the group, generating an adjusted net profit of €103m during the reporting period.

While this figure represented a 14.7 per cent decrease compared to the corresponding period of the previous year, Cyprus continues to lead the non-Greek portfolio in terms of earnings contribution.

Total assets held within the Cypriot subsidiary amounted to €28.7 billion by the end of March 31, 2026.

Furthermore, customer deposits in Cyprus reached €23.8bn, underscoring the deep liquidity and market trust the bank maintains on the island.

The gross loan book for Cypriot operations stood at €9bn, reflecting the bank’s active role in supporting local businesses and households.

“During the first quarter of 2026, credit expansion was strong across all our core markets, with organic loan growth totalling €1.1bn and the loan book growing by 10 per cent year-on-year,” said Chief Executive Officer Fokion Karavias.

At the group level, net interest income saw a 4.0 per cent year-on-year increase, reaching €664m.

However, the net interest margin experienced a slight decline to 2.46 per cent, primarily influenced by the lower deposit facility rates set by the European Central Bank (ECB).

Net fee and commission income performed exceptionally well, jumping by 19.9 per cent to €203m.

This growth was significantly supported by wealth management services and the integration of insurance income following the acquisition of ERB insurance subsidiaries in Cyprus during 2025.

The cost-to-core income ratio remained highly competitive at 38.1 per cent, despite a moderate rise in operating expenses to €330m.

Asset quality indicators remained robust, with the non-performing exposure ratio settling at 2.6 per cent at the end of the quarter.

Provisions for loan losses were maintained at €76m, ensuring a high coverage ratio of 94.1 per cent for impaired exposures.

Capital adequacy remains a core strength for the lender, as the Common Equity Tier 1 ratio reached 15.4 per cent on a fully loaded basis.

The total capital adequacy ratio stood at 20.4 per cent, providing a substantial buffer against potential economic shocks.

“The first quarter confirmed the group’s ability to sustain organic growth despite geopolitical volatility,” Fokion Karavias added.

The bank noted that while the global economy faces pressure from geopolitical developments, its core markets are expected to outperform general eurozone growth rates.

“For Greece and Cyprus in particular, entering this international crisis from a solid fiscal footing is a major advantage which should be safeguarded by remaining anchored to a prudent fiscal policy,” Fokion Karavias noted.

The group’s total assets have now reached €108bn, marking its position as a major systemic player in the South-eastern European region.

In Bulgaria, the other major international market, the bank posted an adjusted net profit of €56m, an increase of 2.2 per cent.

The bank’s liquidity position remains excellent, with a liquidity coverage ratio of 165.3 per cent and a loan-to-deposit ratio of 67.6 per cent.

Tangible book value per share rose by 6.7 per cent to €2.55, reflecting increasing value for the bank’s shareholders.

“Overall, the first quarter demonstrated robust top line performance and reaffirmed our ability to sustain organic growth,” Fokion Karavias concluded.