Its strong performance National Bank and the plan to meet four challenges he has to face was presented at the annual general meeting of the bank’s shareholders, CEO Paul Milonas.
As Mr Mylonas told shareholders, the National Bank is already undergoing the accumulation of 60% of the profits it will show in this year’s use to increase the reward of its shareholders in 2026, increased to 60% of 2025 profits, from 20% from 20% from 20% from 20% to 20%.
Presenting the results of the year 2024, CEO Pavlos Mylonas said that all the targets set were over, with the National Bank achieving net interest revenue of 2.4 billion. EUR, despite the reduction of interest rates, a credit expansion of 3.1 billion. euro, supplies from € 427 million, costs index to organic revenue of 32%, 17.5%of equity performance index and more than 2%performance index, from the leading in Europe.
The EIB’s balance sheet, as Mr Mylonas said, is characterized by a surplus of liquidity of 6.4 billion. euro, capital competence (CET1) 18.3%of the highest in Europe, a 2.6%non -performing opening index, the lowest of the last 5 decades and coverage of these loans from 96%.
Mr Mylonas emphasized the EIB transformation project that has been successfully implemented for the last 6 years, with the aim of keeping the National Bank of first choice for individuals and businesses. The development and transformation program is based on the axes of technology and human resources. At the technology level, the EIB has invested EUR 200 million a year over the last 5 years, and is over investing between competition in Core Banking System, which will be completed in less than a year. “Technological superiority will be an advantage in the inevitable banking unification in the EU,” Mr Mylonas said.
Referring to the challenges of the future, Mr Mylonas referred to high uncertainty in the world scene that can lead to acceleration of monetary relaxation. “We have foreseen the greater reduction in interest rates, with offenses and increased operations, and we have the capital to absorb even effects on a recession in the eurozone, a scenario that I do not consider possible,” he said.
The second challenge for the EIB is how the excess capital will be used. “We are very selective in how we will use this chapter, focusing on how to get greater value for the bank and its shareholders,” Mr Mylonas said, saying that surplus capital will be used for greater reward of shareholders, organic development with credit expansion and non -organic growth and non -organic growth.
The third challenge for the EIB is how to deal with competition from other banks and fintech. In this context, the bank’s digital transformation is included to make the customer’s simple transactions more effective, as well as investment in the bank’s human resources to be with the customer for his important financial decisions.
Another invitation to the EIB is to adopt and implement new technologies and especially artificial intelligence, Mr Mylonas concluded, highlighting the rich social work of the National and announcing that the Bank will soon announce the sponsorship of renovation and renovation.