The National Bank is launching a new voluntary exit program with the aim of further reducing its operating costs and making more efficient use of its human resources, as part of its ongoing transformation program.
It is not just a coincidence that the new action, the second in 2021, is addressed to employees in the branch network and the respective bureaus, as in the next period the number of its units will continue to decrease.
The two options
Two options are provided:
Immediate retirement with the provision of compensation up to 180,000 euros and
Long-term (sabbatical) leave with remuneration from 2 to 5 years, after the expiration of which the legal compensation will be paid, with the ceiling of total benefits not exceeding 300,000 euros.
The new model
The new model of the National Bank envisages the creation of phygital branches, which combine the high level provision of consulting banking services and the service of customers at automatic machines (self-service) for cash operations.
At the same time, the bank is constantly upgrading e-banking services, with the aim of transferring most of the sales of simple products to the digital world, which will allow store staff to focus on selling more complex programs with high profit margins.
According to the data presented on the occasion of the announcement of the results for the third quarter of the National Bank, staff costs decreased in the first 9 months of 2021 by 15% on an annual basis in Greece, while total operating expenses fell by 8%.
The reduction of the number of employees through voluntary retirement and sabbatical programs in the previous years, as well as the shrinking of the branch network have played an important contribution to achieving this performance.
It is characteristic that since the beginning of 2020 the number of the bank’s units has decreased from 389 to 341 (-48), while the number of the group’s employees decreased during the same period by 900, to 8,900. In Greece, the number of employees at the end of September was 7,600 from 8,500 at the end of 2019.
Latest News
Vardis Vardinogiannis: ‘On a Ship’s Bridge You Always Look Forward’
Ten milestones in the half century since the creation of Motor Oil Group, as described by Vardis Vardinogiannis, who passed away on Tuesday at the age of 91
DBRS Says Greek Banks ‘Shielded’ from ECB Rate Cuts
The agency explains that fund disbursements through the banking sector will help offset pressures anticipated on interest margins beginning in 2025, due to expected rate cuts by the European Central Bank (ECB).
Meta Cuts Facebook and Instagram Subscription Fees by 40%
The social media giant also revealed that it will continue to offer free access to Facebook and Instagram for EU users, provided they agree to see ads based on a limited set of user data.
Skyrocketing Use of Debit, Credit Cards
The total value of the transactions conducted with debit and credit cards in the country in the first half of 2024 rose 2% on the corresponding period of 2023
JP Morgan Revised Greece Outlook to ‘Overweight’
The investment bank notes that Greece is showing the strongest GDP growth in the Eurozone. Additionally, efforts to clear up bank balance sheets are anticipated to yield increased capital returns.
Vardis I. Vardinogiannis, Greek Tycoon and Shipping Magnate, Dies at 91
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
Kudos for Greek Sheep’s Milk Cheeses
Graviera is the Greek version of the Swiss gruyère, and is generally considered the second most popular cheese made in the country after feta
EIB Survey: Greeks Rank Climate Change as Top Concern After Cost of Living
Specifically, 98% of the Greeks surveyed stated that the country must to adapt to climate change, with 60% saying that priority should be given to these adjustment measures
Trump Tells Putin not to Escalate Ukraine War during Phone Convo
Meanwhile, President Joe Biden, is preparing to lobby Trump against abandoning U.S. support for Kyiv
Former Thessaloniki Mayor Yiannis Boutaris Dies at 82
Boutaris entered politics in 2010, serving as the 60th mayor of Thessaloniki for two consecutive terms until 2019, becoming a transformative figure with his progressive policies.