Christos Megalou, CEO of Piraeus Bank, estimated that credit expansion will reach 1.6 billion euros for the year, during the presentation of the bank's results. In the first nine months, net credit expansion amounted to 830 million euros on a pro forma basis due to the absorption of the Recovery Fund's capital by the bank.

The bank has entered into contracts to finance 65 investment projects, with a total budget of 3.68 billion euros, utilizing 1 billion euros from the Recovery Fund and 817 million euros of the bank's capital.

Mr. Megalou emphasized that there are no new inflows of non-performing exposures, confirming, however, the risk in the context of high interest rates.

The bank's management stated that stability in the performance of these indicators is expected to continue into 2024.

They also added that the bank has a long-term strategic hedging plan, which will be implemented in the coming months, especially when interest rates begin to decrease.