The Bank of Greece will return a profit of 400.7 million euros to the Greek State for the financial year 2022. The Bank of Greece announced today the results for 2022 according to which the profits before provisions in the financial year 2022 amounted to 589.4 million euros, against 649.6 million euros in the previous year, marking a decrease of 60.2 million euros.

The net profits for the year, following the strengthening of provisions by 132.6 million euros, amounted to 456.8 million euros. The Bank’s total net income for the 2022 financial year was 938.7 million euros, compared to 1.011 billion euros in the previous year, marking a decrease of 7.2%, and total expenses before provisions were 349.3 million euros , against 361.4 million euros in the previous year, marking a decrease of 3.3%.

The General Council decided to propose to the general meeting of shareholders the distribution of a dividend to shareholders of 0.6720 euros per share (unchanged compared to the previous year), i.e. a total of 13.3 million euros, the increase of the extraordinary reserve by the amount of 42.7 million euros and the transfer of 400.7 million euros to the Greek State.

The total expenses before provisions, i.e. personnel and pension benefits expenses, other management expenses and depreciations, amounted to 349.3 million euros, compared to 361.4 million euros in the previous year, marking a decrease of 12.1 million euros. The change is mainly due to the reduction of staff costs and pension benefits, due to the actuarial valuation of the Bank’s obligations to provide main and supplementary pension, as the Bank fully covers the pension costs of its staff. The Bank of Greece’s assets on December 31, 2022 amounted to 238.5 billion euros, showing an increase of 0.9 billion euros compared to the previous year.