Athens, Greece. Banks in Greece and Cyprus are accelerating lending activity, with credit expansion expected to approach or exceed €15 billion this year. The figures indicate that credit expansion has become a key driver of banking profitability while also supporting broader economic momentum.
Strong start to the year
Banks appear to have begun the year with stronger lending activity, with the first quarter of 2026 showing an increase across the sector. During the quarter, banks that have already reported results recorded credit expansion of €4.7 billion.
Bank targets
Eurobank is aiming for €3.8 billion in credit expansion this year, while the National Bank of Greece and Piraeus Bank are each targeting €3 billion. Alpha Bank is targeting €3.5 billion, while CrediaBank and Optima Bank are aiming for €1.2 billion and €1.1 billion respectively.
Reported results
Piraeus Bank reported loan portfolio growth to €38.6 billion and net credit expansion of €1.3 billion, supported by all major business segments. The National Bank of Greece said new loan disbursements increased by 50% and net credit expansion reached €500 million. Eurobank reported net credit expansion of €1.1 billion, up 9.8%.
Cyprus lending
In Cyprus, the Bank of Cyprus reported new lending of €829 million in the first quarter, a 9% increase compared with the end of 2025.
