Greece’s four systemic banks are expected to distribute dividends of 846 million euros to their shareholders provided that the SSM will approve their plans. Some of them will also proceed with a brave buy back with which they will reward the shareholders.
As far as the National Bank is concerned, the buy back plan is certainly related to the completion of its privatization.
Meanwhile, the CEOs of the systemic banks are in London to participate in Morgan Stanley’s road show until March 14.
The results of the credit institutions are considered important, while a reduction in interest rates, based on their business plans, is not expected to affect their profitability.
Four important issues were highlighted through the announcement of the banks’ results, as three of them have already completed the process.
Profits and Dividends
International investors focus on dividend policy for two reasons: One is that the returns will significantly help their future investments. The second reason is that the fact that the SSM will allow significant dividend yields from 2024 onwards reflects the credit institutions’ intentions to change their policy.
Pre-announced dividends of the systemic banks
- National Bank 1106 x 30%=331 million euros
- Eurobank 1256x 25%=314 million euros
- Alpha Bank 611×20% = 122 million euros
- Piraeus Street 788×10%=331 million euros
