Optima bank will need a capital increase of 400 to 500 million euros to justify growth, valuations, and acquisitions... and it appears that the Bank of Greece imposed the increase as a matter of urgency. The capital increase for Optima bank is a one-way street, not least because following the integration of Euroxx, Optima bank will have a CET1 capital ratio of approximately 10.85% and inherently requires capital strengthening, as BN pointed out on August 4, 2026. Furthermore, a crucial issue for Optima bank is not only the 400 to 500 million euro increase, but also the offering price of the capital raise, which will require a significant discount of nearly 20%. All these factors will obviously be weighed by the main shareholders. Based on current indications, the capital increase price should be around 9.6 euros.
Optima bank with 12 P/E and 3.29 P/BV
Optima bank has a market capitalization of 2.60 billion euros, trading at a P/E ratio of 12 based on 210 million euros in net profits (2.60 billion market cap / 210 million profits). Based on projected 2027 earnings of approximately 240 million euros, the forward P/E ratio stands at 11. Optima bank has a market value of 2.60 billion euros, presenting a P/BV ratio of 3.29 (2.60 billion market cap / 789 million tangible book value).
Conclusion
There is no doubt that Optima bank is an extremely expensive bank in stock market terms, making the new share capital increase imperative.
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