National Bank of Greece reports €1B in 9month profits as lending surges 28%

Return on Tangible Equity (RoTE) reached 15.7%, while management expects the Bank to exceed its revised targets for the full year.

Performance was driven primarily by the accelerating recovery in net interest income, supported by a more favourable interest rate environment, alongside double-digit growth in net fee and commission income.

At the same time, loan portfolio quality remained resilient, with new non-performing exposure (NPE) inflows remaining stable and the cost of credit risk at low levels, despite ongoing geopolitical uncertainty.

National Bank of Greece: Loan Disbursements Rise 28%

On the lending front, loan disbursements approached €8 billion in the first nine months of 2026, representing a 28% year-on-year increase, despite the seasonal slowdown in credit activity during the third quarter and early repayments of corporate loans.

Performing loans increased by €2.2 billion since the beginning of the year, driven primarily by financing for large corporations and structured financing transactions in sectors such as energy, infrastructure and shipping.

The Bank maintains a substantial pipeline of approved but undisbursed corporate loans, which is expected to support the acceleration of new lending in the fourth quarter.

Based on current trends, management expects credit expansion to exceed €3 billion in 2026, with potential for an even stronger performance.

Deposits Up 7% as Fee and Commission Income Strengthens

National Bank of Greece’s deposit base also recorded positive growth, with total deposits increasing by 7% year-on-year.

In particular, current and savings deposits rose by €3.9 billion compared with the corresponding period of 2025, reflecting primarily growth in retail transactional deposits. Time deposits also recorded a modest annual increase, despite the continued shift of funds towards the Bank’s mutual funds.

NBG continued to strengthen its position in the mutual funds market during the third quarter, with its market share increasing by almost 100 basis points since the beginning of the year.

Over the same period, total assets under management grew by nearly €2 billion, creating additional opportunities for sustainable growth in fee and commission income.

The Bank’s low cost of funding remains a significant competitive advantage, staying below 70 basis points and at the lowest level in the domestic banking market. This reflects NBG’s strong liquidity position and stable deposit base.

Non-Performing Exposure Ratio at 2.4%

Loan portfolio quality remained resilient, with the non-performing exposure (NPE) ratio standing at 2.4% in the third quarter of 2026.

This performance reflects the continuation of favourable trends in lending quality, while National Bank of Greece continues to maintain one of the highest loan loss provision coverage ratios in Europe across all loan classification stages.

The Bank’s capital position also remains strong, with organic capital generation sufficient to support the expansion of its performing loan portfolio, as well as distributions to shareholders.