“We are highly selective regarding how we will deploy our excess liquidity of €6.4 billion to maximize value for the bank and its shareholders,” stated Pavlos Mylonas, CEO of the National Bank of Greece.
Mylonas elaborated that “this surplus capital will be directed towards enhancing shareholder returns, facilitating organic growth through credit expansion, and pursuing inorganic growth via strategic acquisitions that present valuable opportunities and bolster synergies and return on equity.”
He emphasized the bank’s extensive transformation initiative, successfully implemented over the last six years, which aims to position the National Bank as the preferred choice for both individuals and businesses. The Growth and Transformation Program focuses on leveraging technology and human resources. Over the past five years, the bank has invested €200 million annually in technology, excelling among competitors in upgrading its Core Banking System, set to be completed within the next year. “Our technological edge will be a significant advantage amidst the ongoing banking consolidation in the EU,” Mylonas highlighted.
The CEO also pointed out the bank’s accomplishments in 2024, particularly in profitability and credit growth, which surpassed €3 billion. This resulted in a Return on Equity (RoTE) of 17.5% for 2024, while the Return on Assets (RoA) ratio further underscores the bank’s effective management, placing it among the top-performing banks in Europe.
