forGreek ship financing for Greek shipping registered a very impressive jump from 5% in 2024 to 11.5%, bringing the total Greek loans (both drawn and committed but not drawn) booked both in Greece and worldwide to a total of US$59,687.69 million as of the end of 2025. This was the second consecutive year of growth, from US$53,510.88 million in 2024.
The Petrofin Greek Ship Finance Index, which started at 100 in 2001 and peaked at 443 in 2008, rose to 361, from 324 in 2024. It should be noted that the Petrofin Index relates to bank-related financing only. Financing via SLBs, leasing and other forms of lending are not included.
International banks without a Greek presence saw a decline of 4.3%, reversing the previous year’s growth of 2.5%. Of the three bank groups, this is the only one to fall in 2025.
The number of international banks with a Greek presence rose by 9%, leading to a decline of 6.2% in the previous year.
Greek banks, the group with the largest increase of 34%, showed a strong acceleration and continued their upward trend.
International banks (with or without a Greek presence) have found that Greek banks’ ability to perform undermines their competitiveness. In addition, Greek banks have been able to offer improved loan terms and attract more business from Greek owners, including financing new construction. However, the maximum value for Greek bank clients remained modest.
Total loans drawn increased by 8%.
Total commitments by the end of the year rose by 32%, continuing their vote of confidence in Greek shipping.
Greek banks account for most of this growth.
The number of all banks fell again to 47, primarily due to mergers and acquisitions.
For the first time, the National Bank of Greece finished first among Greek shipping lenders, recording a massive growth of 53%, including liabilities. All Greek banks have aggressively developed their loan portfolios, and among the major lenders, Greek banks occupy the top three positions.
The top 10 Greek ship financing banks reached US$41.91 billion compared to US$35.98 billion in 2024, a significant increase of 16.5%. Its market share shows steady growth, reaching 70% for the first time in many years, compared to 67% in 2024.
Sustainability-related portfolios in Greek shipping showed a stronger year compared to 2024.
European banks saw their investment portfolios increase by 19%, outpacing the much weaker growth of 3.6% in 2024. This growth is mainly due to the strength of Greek banks. This is reflected in the growth of the European market share of the total Greek shipping portfolio, which rose to 78% compared to 73% in 2024.
It is believed that European banks still operating in the field of financing Greek ships aim to further expand their investment portfolios in this sector. In fact, among the banks involved in Greek ship financing, the vast majority have higher loan portfolio budgets for 2026 and are only limited from growth due to competition from non-bank financing, as well as prepayments due to the high liquidity of Greek owners and high interest rates.
The share of new construction financing from forward liabilities increased from 54.5% in 2024 to 58% by the end of 2025.
Source: Petrovin Research
