With Piraeus Bank's figures coming in better than estimated, the bank's management is planning ahead for a major credit expansion. This involves €10 billion in loans over the four years to 2027, with the bank targeting new lending to businesses while increasing mortgage lending. 

THE PORTFOLIO 

The bank's portfolio of healthy, up-to-date loans stands at €32 billion, with the portfolio expected to grow by more than €2.5 billion next year, with the European Central Bank's interest rate cuts favouring an acceleration in lending. In addition to corporate lending, Piraeus will focus on new housing programs, such as "My House 2," and on increasing its footprint in the housing market. 

THE COOPERATION

To this end, Piraeus has entered into a partnership with CFP Green Buildings to provide specialized services for building renovations, initially targeting 150 thousand existing customer properties and generating €200 million of new loans for residential renovation in Greece over the next 2-3 years. The bank aims to create a network of partnerships by providing financing solutions that will receive personalized services for their properties. 

THE DIGITAL BANC

Developments are also expected in the digital bank Snappi, which aims to expand to European countries. It is expected to start operations at the end of the first half of 2025 and is targeting loans to the younger generation and small innovative businesses.