Her vision for “National Bank of 2030″ is presented today by the management of the systemic group, as a vehicle for the reformation of its corporate identity and its digital upgrade.
This is a process that marks the bank’s entry into a new era, with the central objectives of rewarding its shareholders, 16 years after the last dividend distribution and supporting development in the country.
The CEO Mr. Pavlos Mylonas
The group’s CEO Pavlos Mylonas, whose term is expected to be renewed at the bank’s regular general meeting next summer, is optimistic about maintaining high profitability after the completion of its transformation and the successful first round of privatization through the of which 22% of its shares were allocated, mainly to long-term institutional investors.
With a renewed equity composition, capital adequacy ratios at a great distance from the minimum supervisory limits, non-performing exposures at pre-crisis levels, a breather from the European average and with excess liquidity for the development of its operations in all credit sectors, it estimates that the further enlargement of the bank’s balance sheet and the maintenance of profitability above the zone of 1 billion euros in the coming three years is a bet that can be won.
The international investment community’s vote of confidence in these prospects was given in the recent successful placement, which was multiple oversubscribed, with the share price seeing a significant rise since then.
Within the year, it is estimated that the process will be activated for the disposal of the remaining 18% of its share capital controlled by the State.
In this context, it is not excluded that a part of it will be repurchased by the bank to be canceled afterwards, as an additional measure to reward its shareholders.
The latter will apparently receive 25% – 30% of the 2023 profitability as a return of capital this year.
The question of the analysts
According to analysts, the main question to be answered by the management of the group is how it will use its funds to strengthen the efficiency indicators.
And this is because, as they explain, the Greek marketin which the group is mainly active today, has a certain size and potential for the development of organic profitability.
In his recent positions, Mr. Mylonas had pointed out that opportunities are being sought in the wider financial sector in this direction.
However, he did not consider it possible to develop outside of Greece in the classic way of acquisitions, as in the years after the country’s entry into the euro zone.
In any case, the central goal is the utilization of new technologies to increase the bank’s revenues in the coming years.
As part of this strategy, a new cloud platform has been created that changes the way the bank operates, as it enables it to immediately create new products, which are adapted to the real needs of customers.
It already operates in business credit and is expected to expand soon, possibly within the current year, to retail banking and small and medium-sized businesses.
At the same time, through synergies and participation in technology companies, the wide size of the bank’s clientele is used to promote both banking and non-banking products, in the form of integrated service packages.
The new network of stores
At the same time, as part of the rebranding, the reorganization and redesign of the network of its stores, under the new logo of the group, is progressing.
Its new structure is as follows:
1. Complete units with advisers for all categories of customers, with both cash registers and cash machines functioning. In this way, 1/3 of its network will operate, mainly in the centers of the country’s major cities.
2. Smaller stores exclusively for private customers in peripheral districts, in which, in addition to the acquisition of products with the support of specialized consultants, it will be possible to make transfers and payments at the cash register or at automatic machines. Their number will reach around 150.
3. Units without cash registers, which will serve those who want to make cash transactions through automatic machines. In these there will also be meeting areas for customers with consultants for the disposal of more complex products.
This is the evolution of the current i-bank stores, which will not have the classic security doors, as cash will not be kept. The aim is to create around 60 units.
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