Bank of Greece Proposes Transfer of €69.6 Million in 2024 Profits to Greek State

The Bank of Greece (BoG) announced that, following its General Council meeting on Tuesday, it will propose to its shareholders the transfer of 69.6 million euros of its profits for the fiscal year 2024 to the Greek state.

During the meeting, the General Council approved the bank’s audited annual accounts for the financial year ending December 31, 2024. They also decided to propose to the General Meeting of Shareholders the distribution of a statutory dividend of 0.6720 euros per share, the same as last year, totaling 13.3 million euros. Additionally, they recommended transferring 69.6 million euros to the Greek state from profits.

BoG reported a net income of 436.0 million euros for 2024, a decrease of 19.8% compared to 543.9 million euros the previous year. Total expenses before provisions stood at 404.1 million euros, up by 9.9% from 367.8 million euros in 2023.

The bank’s profit before provisions dropped sharply to 31.9 million euros from 176.1 million euros in 2023, marking a decline of 81.9% (144.2 million euros).

However, after releasing provisions totaling 51.0 million euros—mainly due to a reduction in financial risks—net profit for 2024 amounted to 82.9 million euros, compared to 98.7 million euros in the prior year.

Additionally, for 2024, the Greek state and General Government bodies received interest on their deposits at the highest rate allowed by the European Central Bank. The interest for the Greek state amounted to 730.4 million euros (up from 635.8 million euros in 2023), while the General Government bodies received 392.3 million euros (up from 268.4 million euros in 2023).

Source: pagenews.gr