Corporate Governance Framework

Key Legal and Regulatory Framework

The Bank's Corporate Governance Framework is aligned with the requirements of Greek and European legislation, the decisions and acts of the Bank of Greece, the guidance of the European Central Bank, the guidelines of the European Banking Authority and the European Securities and Markets Authority, as well as the decisions and guidance of the Hellenic Capital Market Commission. Additionally, the stipulations of the Relationship Framework Agreement (RFA) between the Bank and the HFSF, as in force, are applied.

The Bank, in accordance with Article 17 of Greek Law 4706/2020, has adopted the Hellenic Corporate Governance Code of the Hellenic Corporate Governance Council. This Code constitutes the Hellenic Corporate Governance Code for Companies with securities listed on the stock market, in accordance with Article 17 of Greek Law 4706/2020 and Article 4 of the Decision of the Hellenic Capital Market Commission (Decision 2/905 / 3.3.2021 of the Board of Directors of the Hellenic Capital Market Commission). Further, the Bank's Corporate Governance Code includes additional provisions in compliance with more specific Corporate Governance Framework applying to credit institutions, as well as provisions on internal arrangements and processes that the Bank implements in compliance with the relevant legal and regulatory framework.

The determination of the authorities and responsibilities of the Bank's management bodies and the delegation of authorities of the Board of Directors to Bank's executives are carried out in accordance with its Articles of Association and the applicable legislation, as incorporated in the Bank’s internal framework.

The Bank continuously monitors developments in the applicable framework and relevant guidelines, as well as best practices in the area of corporate governance and proceeds to actions deemed appropriate in order to ensure that internal regulations/charters are in alignment with the each time applicable legal and regulatory framework, as well as relevant guidelines.

With a view to continuous safeguarding of the interests of its shareholders, customers, employees and all stakeholders in general, as well as to sustainable development and creation of long-term value, the Bank sets the upholding of high standards of corporate governance as an absolute priority.

Further information on the Bank's Corporate Governance Framework are included in the respective section, as well as in the Annual Corporate Governance Statement, which is incorporated in the Board of Director’s section within the Annual Financial Report.