2022 ECB Climate risk Stress Test Results

National Bank of Greece S.A. (NBG) announces the successful completion of the 2022 Climate risk Stress Test, led by the European Central Bank (ECB), under common methodological rules and scenario assumptions published on 27/01/2022.

The Exercise is primarily prescribed by ECB as one of pivotal, but also mutually learning nature for all participating Banks and Supervisors, forming part of the green transition roadmap and effective management of climate risks. In this context, the 2022 Climate risk Stress Test does not constitute a solvency exercise; its outcome will inform the Supervisory Review and Evaluation Process (SREP) from a qualitative perspective, without a direct impact on capital through the Pillar 2 guidance. 

NBG’s overall performance was in line with the average of the EU-wide participating institutions. In terms of advancement in the internal climate stress-testing capabilities (qualitative part of the Exercise), the Bank ranked above the average of Total EU sample at Medium-Advance level, while in the domestic banking sector, NBG’s overall transition impact on Business Model viability was assessed as of relatively lower risk (Advanced scoring). 

The 2022 Climate Stress test outcome reflects the firm commitment and progress made  by National Bank of Greece, setting the basis for an effective climate risk management framework and timely adaptation of processes and strategies, including via ambitious plans for substantial investment in human and technical capabilities.