National Bank of Greece distributes shares to staff

The National Bank of Greece recently announced the free distribution of 169,060 ordinary registered voting shares to eligible beneficiaries under the third cycle of its 2023 Stock Awards Programme.

The bank said the allocation follows the decision of the annual general meeting of shareholders on July 28, 2023, which established the share-based incentive programme for executives and employees of the bank and its affiliated companies.

It also follows the approval of the programme’s implementation regulation by the board of directors on November 30, 2023, as well as the board decision of March 28, 2025 approving the beneficiaries of the third cycle.

In addition, the bank referenced the decision of the annual general meeting held on May 30, 2025, along with its announcements dated April 16, 2025 and June 2, 2025, which relate to the programme’s implementation.

The shares were granted free of charge through over-the-counter transactions, forming part of the Common Equity Tier 1 instruments of the bank.

The bank clarified that the distribution of shares is subject to all applicable terms and conditions set out in the approved programme regulation, including provisions related to deferral and retention requirements.

The allocation was carried out using treasury shares acquired under the bank’s share buyback programme, implemented following the decision of the annual general meeting on July 28, 2023.

This decision was subsequently amended by the annual general meeting held on July 25, 2024, and supported by the renewed approval of the Single Supervisory Mechanism (SSM).

The SSM approval was granted on September 3, 2024 and remained valid for one year until September 2, 2025, enabling the continuation of the buyback programme.

The treasury shares used for the distribution were acquired during the period from June 18, 2024 to May 12, 2025, in line with previously disclosed transaction details.

The bank noted that the shares granted to beneficiaries are subject to a mandatory holding period of twelve months, in accordance with applicable legislation.

Following the completion of this allocation, the National Bank of Greece now directly holds 16,083,018 treasury shares, representing 1.76 per cent of its share capital.