Major Greek banks and Bank of Cyprus report strong half-year profits

In the first half of 2026, major Greek banks and the Bank of Cyprus demonstrated sustained growth, marking a shift from industry consolidation to expansion. Combined net profits reached approximately €2.8 billion, with the four systemic Greek banks accounting for €2.5 billion of that total. Notable performance included Eurobank Group, which reported an adjusted net profit of €776 million, representing a 9.2% increase and a return on tangible equity (ROTE) of 16.6%.

Financial resilience was driven by four core factors: persistent profitability despite declining interest rates, significant credit expansion through business financing, increased reliance on service fees rather than interest margins, and optimized operational efficiency. These results suggest a strategic diversification of income streams, reducing dependence on interest-rate-sensitive revenue as the broader monetary environment becomes less favorable. The strong capital positions currently maintained by these institutions support higher shareholder distributions, indicating a phase of stability and growth for the banking sector in the region.