Piraeus Bank’s board of directors on Friday proposed a dividend total of 79 million euros, or 0.063 euros per share, with a general assembly of shareholders in late June tasked with approving the proposal.

Piraeus Bank posted the strongest financial results in its history in 4Q 2023, generating 0.25-euro earnings per share and 20% return on equity.

The ATHEX-listed banking group, one of four systemic banks in Greece, last February announced net profits of 800 million euros and a credit expansion of 1.6 billion euros for all of 2023.

The Hellenic Financial Stability Fund’s (HFSF) placement, last March, of its 27% stake in shares of Piraeus Bank exceeded even the most optimistic estimates and attracted a whopping 11 billion euros in offers.