Socieconomic Review

As part of the company’s digital transformation programme, new ground-breaking services were made available to customers through e-Banking and the Eurobank Mobile App in 2020, such as the Eurobank Wallet for contactless payments, Cards Control for card management, online personal loan application and Eurolife FFH Safe Pocket insurance.

Eurobank has set up an integrated portfolio of digital products for individuals and businesses, always aiming at providing optimal digital experience and service. The Bank already offers a range of digital products, such as e-card, e-auto, e-prepaid, e-term deposits, e-loan and e-safe pocket while the fast loan was also launched in 2021. Digital sales accounted for 17% of the annual sales overall (like for like). Additionally, a new dedicated call centre was created, offering step-by-step guidance on digital products to clients (Digital Assisted Sales team).

The availability of digital channels reached 100%, thanks to both the technological and human resources infrastructure. In addition, multiple targeted actions were carried out to inform customers about digital solutions, as well as assist new unfamiliar users or the elderly. In this context, a new dedicated call centre was created, offering step-by-step guidance to clients to gain access to the digital channels remotely (digital onboarding).

Following the launch of the new e-Banking for Business, Eurobank enhanced its offering with special functionalities, designed to cover daily transactions, and self-service capabilities for the increased needs of modern businesses. The Eurobank Business App was also upgraded and enriched with new features, making everyday banking easier for businesses.

In the context of Open Banking, Eurobank created innovative financial products and services with API technology (Application Programming Interface), allowing the exchange of data, such as account information and payment initiation services, as well as authentication and payment automation services. The Eurobank API Portal provides access to Eurobank APIs to certified application developers in a simple and secure way. It complies with the new Payment Services Directive (PSD2), which aims to ensure cheaper, safer and more innovative online transactions for consumers. Ranked in top 12 Banks in API testing (among 2500 APIs tested by Open Banking specialist SaltEdge) for enabling integration in one day and going beyond PSD2 in supporting Open Finance.

During the year, clients using e-Banking and the Eurobank Mobile App increased by 13% compared to 2020 (vs. 30% increase in 2020 and 26% in 2019), carrying out 92% (vs. 88% in 2020 and 80% in 2019) of the volume and 59% (vs. 53% in 2020 and 52% in 2019) of the value of all transactions, excluding withdrawals/deposits, from all Eurobank channels. Note that 75% of mobile users exclusively use the Eurobank Mobile App for their transactions with the Bank on a monthly basis (vs. 70% in 2020 and 60% in 2019). In 2021 clients using the Eurobank Mobile App for the first time increased by 21% compared to 2020 (vs. 26% in 2020 and 40% in 2019). Also in the same year, logins made to the Eurobank Mobile App increased by 26% compared to 2020 (vs. 70% in 2020 and 185% in 2019). In POS transactions with NFC, there was a 50% increase in the 4th quarter of 2021 (total volume 3.5 million transactions) compared to the 3rd quarter. In addition, through Eurobank Payment Link, a merchant who does not own an e-shop, can sell online even if it does not have an e-shop. e-Commerce solutions secure low-cost deals through selected companies for a business to set up an e-shop and develop its digital infrastructure.

The volume of transactions carried out via digital channels (internet, mobile applications) increased by 22% compared to 2020 (vs. 22% in 2020 and 17% in 2019), with a corresponding value increase of 20% compared to 2020 (vs. 4% in 2020 and 16% in 2019), while the number of users who carried out monetary transactions increased by 17% (vs. 36% in 2020 and 24% in 2019).

A large rise in the use of e-Statements was also achieved in 2021, as the service became available to a +18% of clients (vs. +35% in 2020 and +29% in 2019), who received around 3.8 million e-Statements (vs. 3.2 million in 2020 and 2.3 million in 2019), resulting in additional savings of €648,000 (vs. €1,000,000 in 2020 and €242,000 in 2019).

Finally, the Eurobank Mobile App was ranked 1st in the App store and iOS among all other banks in Greece.

Eurobank is leveraging its state-of-the-art UX Lab facilities, Digital Community and Digiators, to perform user research and update product development efforts at all stages. During 2021, a total of 8,000 users were engaged in various research activities, ranging from quantitative online surveys to qualitative usability testing. Rich insights from these efforts on user needs, wants and usability issues led to data-informed product decisions and concluded in significant experience and conversion improvements, with some cases showing up to an impressive 75%+ conversion increase.

Eurobank has an active digital presence on social media with the aim of sharing information and value through new data sources, insights and ways to connect with consumers. In 2021 eurobank.gr received over 27 million visits, 57% of which found the Eurobank site through Google search. The Group websites team, working with Group IT and external partners, upgraded the CMS infrastructure from Sitecore 8 to Sitecore 9. In November, a significant milestone was achieved: the rebranded eurobank.gr was launched. Overall, there were more than 10,000 content updates/actions for eurobank.gr (e.g. new pages, press releases etc.). Regarding website analytics and optimisation, the team conducted 7 A/B tests and 5 personalisation experiments, in order to increase digital sales.

Regarding digital engagement, Eurobank had 11 active channels on different platforms, such as Facebook, LinkedIn, Instagram and YouTube. Through these it managed both content production, with 908 posts across social media, up by 74% compared to 2020, and the community, with 7,360 comments, up by 38% compared to 2020. Community management across Eurobank’s social media channels helps the Bank forge better customer relationships within the digital environment, but also introduces a new perspective in the bank-customer relationship.

The Bank was ranked first in video views and interactions on LinkedIn and YouTube across the banking sector. Another touchpoint were 67 native articles on digital media news outlets that further promoted the Bank’s products and campaigns during the year.

The Bank also generated significant digital content through the Group Websites Department, with more than 4,800 communications and 119 in-house email campaigns in total. At the same time, 2 new sections were launched in eurobank.gr, one for ESG (also available through eurobankholdings.gr) and one for International Customers. Through the Lean and Digital Sector, Eurobank continued to streamline, automate and digitise the processes that determine customer experience when dealing with the Bank, but also to redesign internal processes to minimise its waste and operating costs.

The digitisation and streamlining of customer journeys saved time for the Bank, equivalent to more than 100 people. Αdditionally, the time required for a new customer to open an account at a bank branch was reduced by 40%. For half of the consumer loan applications, customer financial data are retrieved automatically without customer effort. The number of signatures required from customers dropped by 5.5 million, while for specific products the reduction was very sharp, dropping from ten to one. Also, the Bank enabled customers to have their investment products approved digitally without visiting a bank branch. All these resulted in paper consumption decreasing by 10 million pages overall.

All desks within branches were equipped with personal scanners and a tablet for e-signatures. All cashier transactions, as well as simple products and applications for insurance and investment products, can now be signed digitally. In addition, copies of cash transactions are now sent to clients by email, while client information continued to be updated via email or e-Banking, without the need for them to visit a branch. Moreover, the Bank now accepts digital signatures by customers on contracts.

Internal processes were also further streamlined in 2021. The time needed to process business loan applications was halved, as data are automatically received now. The direct response rate to customers for consumer credit products reached 70% and is constantly increasing, with updates now also available by email or SMS.

The Bank’s progress in digital maturity was benchmarked vs. market best practices to identify areas to be addressed by digital initiatives going forward, with a view to achieving a Digital Leader status. The identified focus areas contributed to the formation of the Bank’s “Eurobank 2030” Transformation Programme and relevant initiatives were linked to the programme’s pillars and streams.

Through its Campaign Management platform, the Advanced Analytics and Campaign Management team carried out more than 10,000 actions and 30 million contacts through all the Bank’s digital and physical communication channels. These actions are highly streamlined. Quality in customer approach is ensured through a central communication policy, achieving open rates for email and Viber channels, which are at least two times higher compared to international benchmarks. In addition, 25% of direct digital channel campaigns are fully automated, to support well-designed customer journeys.

Eurobank’s Net Promoter Score (NPS) (a widely used measure for customer satisfaction) and customer feedback are available to all consumers and decision-makers through visualization and have become the main source for initiating actions for customer experience management. Machine learning has been used for developing a comprehensive recommendation engine to support advanced personalisation of direct marketing.

Natural Language Processing was used for analysing more than 2 million comments coming from both customers and officers to further support the efficiency of the CRM. The Bank also started working with the AML, applying machine learning algorithms to characterise a large volume of open and systemically recorded cases, paving the way for broader future cooperation.

The mission of the Eurobank Innovation Centre is to provide fast-paced and focused innovation to the Bank, and help increase profitability and efficiency, in accordance with the Bank’s strategy. By using innovative methodologies, emerging technologies and open innovation, and by collaborating with FinTech companies, its primary goal is to create new and innovative solutions for the Bank, eliminating pain points, identifying solutions and staying relevant in the digital age.

With its established eXplore programme, the Innovation Centre is spearheading and promoting innovation across the Bank, through small interdepartmental teams made up of Bank employees, who experiment with new ideas and develop concepts they test on potential clients, to quickly confirm or reject hypotheses. A combination of tools from the Agile, Design Thinking and Lean Start-Up methodologies pushes participants to adopt an innovation and entrepreneurship culture, focusing on clients, identifying their needs, and developing new products and services, while providing a better and more personalised experience. 

During 2021, and despite the COVID-19 health crisis, which reduced activities worldwide, the Innovation Centre launched 3 pilots and 1 proof of concept, managing to expose and train more than 73 Eurobank employees on the innovation culture and eXplore methodology, making the most of the new digital tools available by the Bank. Innovation Centre contributed significantly to the creation and promotion of the Transformation Challenge Box, an innovative initiative by the Bank’s Transformation Office, which that captures ideas by the employees and helps them flourish. In addition, the Innovation Centre initiated a FinTech scouting process for
collaboration between a FinTech in the ESG sector and the Small Business Department of the Bank, to provide an ESG auditing tool to merchants.

In September 2021, the Innovation Centre also introduced the Innovation and UX Labs, in order to encourage entrepreneurship and intrapreneurship, extroversion and innovation throughout the Bank, connecting FinTech companies with the Bank and improving customer experience. The Labs consist of Collaboration Panel Rooms, UX Lab Observation and Test Rooms, hotdesking availability for Eurobank employees, a big meeting room and large lounge areas, where interdisciplinary teams from the Bank create and test new innovative banking products and services through proof of concepts and pilot MVPs (minimum viable products).

Eurobank has taken measures to assist customers to assimilate ESG terminology and applicability. Especially regarding capacity building, Enterprise Greece and Eurobank jointly hosted the “ESG: A Growing Opportunity for Greek Businesses International Expansion” online event, with the aim of informing representatives of Greek companies on:

• Making the most of the opportunities arising from the adoption of ESG standards for attracting investment.
• Expanding into international markets.
• Strengthening their competitiveness towards sustainable development.

The Bank plans for 4 more informative workshops to be held in 2022.

Noteworthy articles and webinars

Introduction to ESG criteria and sustainable development. It offers an insight on the difference between sustainable development and ESG criteria, and why switching to the ESG model will make businesses more competitive and more financially viable.

ESG: Definitions and terminology. It examines the difference between sustainability and sustainable development, what carbonisation and microplastics are, and how the circular economy affects businesses.

Global sustainability challenges.It presents the 17 UN Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change. It also looks into the most important global agreements for sustainable development, climate change and environmental protection in the 21st century.

GRI and UN Global Compact Initiatives. It considers how the GRI guidelines and the UN Global Compact can play a central role in effectively documenting and recording the data needed to move businesses towards a more sustainable economic, environmental and social development.

Digital Academy for Business

Eurobank actively supports Greek businesses in their transition to the ESG model, through a series of Digital Academy articles and webinars.

The Digital Academy for Business, the digital channel created in 2019, filled with knowledge, practices and insights for professionals and business owners, aims at enhancing the digital and sustainability transformation journey, and the competitiveness of Greek companies. The digital channel provides free access to webinars, dedicated articles, studies/research, best practice, tools, and workshops adapted to business needs and market conditions. It remains the first and only initiative by a Greek bank for the digital and sustainability transformation of companies.

The Digital Academy offers a variety of topics to Greek businesses, such as “ESG-Sustainable Financing”, “Digital Marketing”, “e-Commerce Best Practices and Tools”, “Customer Satisfaction in e-Commerce” and “Best Practices Working Remotely”. In 2021 it delivered the following workshops:

• 3 workshops on “ESG-Sustainable Financing”, attended by 213 companies.
• 4 workshops on “e-Commerce Best Practices and Tools”, attended by 199 companies.
• 1 workshop on “Customer Satisfaction in e-Commerce”, attended by 59 companies.

The Digital Academy roadmap focuses on new topics such as ”e-Invoicing and e-Payments”, “Tourism”, “Cloud Services” and “Artificial Intelligence”, while at the same time it offers more workshops on ESG. A Digital Maturity tool is also being prepared, aiming to measure the digital footprint of Greek businesses.

Cybersecurity continues to be a top priority for Eurobank, and in particular the security of transactions, information and personal data, as well as the resilience of its Information and Communication Technology (ICT) systems against the ever-increasing and constantly changing cyber threats.

At Eurobank, cybersecurity is not treated as a separate issue, but is fully integrated into its strategy, structure and operation, from developing new digital products and services to protecting personal data, ICT systems and infrastructure. Overall, its cyber security strategy is based on a multi-faceted defence approach according to a Predict, Prevent, Detect and Respond control framework.

Eurobank also adopts a three lines of defence (3LoD) model to ensure that risks and controls are properly managed on an ongoing basis. In the second line of defence, a Chief Information Security Officer (CISO) has been appointed, who heads Group Corporate Security and reports directly to a Deputy Chief Executive Officer who sits on Eurobank’s Board of Directors and Executive Board. The CISO regularly updates the Executive Board and the Board Risk Committee in order to provide objective assurance to them on the effectiveness of Eurobank’s cybersecurity controls.

During 2021 Eurobank successfully managed all cyberattacks, most notably those related to distributed denial of service attacks on its online services, to malware and to malicious emails. Due to its security mechanisms and controls in place, these cyberattacks have not, to date, resulted in any incidents or security breaches, any material disruption of operations or material harm to Eurobank customers, and have not had a material adverse effect on the results of Eurobank operations.

In 2021 Eurobank also continued to proactively invest on up-to-date, efficient and cost-effective security technologies and controls to address the ever-growing threats and the evolving regulatory requirements, to minimise disruptions, and to keep systems and data protected from unauthorised or unlawful processing and against accidental loss, destruction or damage.

More specifically, during 2021 Eurobank:

• Continued to ensure its compliance with the evolving regulatory and legal requirements.
• Continued to be certified and operate based on the internationally recognised ISO 27001, ISO 22301 and ISO 20000 standards. The scope of the ISO 27001 certification was extended to also cover the Bank’s cloud computing operations.
• Ensured that the same design principles that underpin its existing security control environment are applied, as it gradually migrates its digital services to the cloud.
• Further strengthened its security posture, as it transitioned to a more hybrid work model, to minimise the risk of exploitation or data leakage.
• Achieved 99.994% IT service availability.
• Issued a comprehensive range of cybersecurity guidelines.
• Continued to timely install applicable vendor-supplied security patches and immediately remediate 0-day and/or high critical vulnerabilities.
• Performed internal and external penetration tests, along with technical vulnerability assessments, to identify exploitable vulnerabilities.
• Augmented the education and awareness programme for employees and clients about emerging cybersecurity threats and online fraud scams.
• Performed phishing simulation exercises to test the employees' susceptibility to social engineering and phishing scams.
• Took significant additional steps to assure the security of data shared with its third-party service providers.
• Renewed its insurance coverage to help mitigate against certain potential losses associated with cyber incidents.
• Continued to cooperate and share intelligence and knowledge with its peers, the Bank of Greece, the Hellenic Banking Association, the Hellenic Police Cyber Crime Division and the National Cybersecurity Authority.

The protection of personal data is an important priority for Eurobank, not only because of its statutory obligation, but also because it recognises it as a key element of good corporate governance and responsibility, as well as a key part of building relationships of trust with its clients and partners.

In this context, it continuously ensures that the necessary actions are taken for complying with Regulation (EU) 2016/679, Law 4624/2019 and other provisions of the relevant Greek and EU legislation on personal data. Eurobank, as part of its GDPR and personal data protection obligations, takes appropriate measures to provide information to data subjects (e.g. customers) relating to the processing of their personal data in a concise, transparent, intelligible and easily accessible form, using clear and plain language.

Eurobank’s main privacy notice (Information on the Processing of Personal Data of the Bank Eurobank SA pursuant to Regulation (EU) 2016/679 and the relevant EU and Greek legislation) is always available online on its website (www.eurobank.gr) and in hard copy through its branches. Moreover, this privacy notice is incorporated in several contractual or other documents of Eurobank. This notice is updated both in accordance with legislative developments and in the event when the processing of personal data by the Bank is altered in any way. Furthermore, the Bank issues supplementary specific notices for cases of personal data processing not covered by its main privacy notice (e.g. employees, website visitors, cookies, CCTV etc.). Through these privacy notices, Eurobank endeavours to explain clearly and openly how and why it uses/processes personal data, how personal data might be shared and the legal grounds for processing personal data. Customers and data subjects may raise any concerns with Eurobank’s Data Protection Officer (DPO) by post or email. Individuals may also exercise their rights by contacting a dedicated team by post or email, which will strive as best possible to address their request within the deadline stipulated in the GDPR.

Eurobank processes personal data in accordance with the principles set out in the GDPR, while respecting the rights of data subjects. Data collected is relevant and limited to what is necessary in relation to the purpose for which it is being processed, accurate and, where necessary, kept up-to-date and no longer than it is necessary. Moreover, appropriate organisational and technical measures are taken to ensure the security of personal data, and the confidentiality and protection of processing. In 2021 Eurobank renewed its certification to the ISO 27001 international security standard, which also covers the processing of personal data on the cloud.

In this context, Eurobank has established a data privacy programme which includes the following illustrative actions to demonstrate its compliance with the GDPR:

• Has appointed a DPO who acts independently and reports directly to a Deputy Chief Executive Officer who sits on Eurobank’s Board of Directors and Executive Board. The DPO regularly informs the Executive Board and the Board Risk Committee on the most important aspects of GDPR compliance. The Personal Data Protection Unit, which is headed by the DPO, assists them in performing their duties.
• Ensures that the DPO actively participates in Eurobank’s projects, including projects on digital transformation and the provision of new products and services (privacy by design).
• Maintains a Record of Processing Activities and carries out Data Privacy Impact Assessments on projects/products/processes related to the processing of personal data, for the purpose of analysing and minimising the risks to data subjects from such processing.
• Has prepared and issued the Personal Data Protection Policy, as well as other relevant guidelines.
• Has designed and amended the contractual terms relating to the products and services provided to customers.
• Ensures that the appropriate privacy terms are incorporated in contracts with third parties which might have access to Eurobank’s personal data. Certain third parties may act as controllers of the relevant personal data or as joint controllers, while others may act as processors/sub-processors of the relevant personal data.
• Has created an operational framework for the efficient and timely management of requests by customers and data subjects to exercise their rights (access, rectification, restriction, objection, erasure, portability etc.) or with regard to the processing of their personal data.
• Has established suitable procedures for obtaining and managing consent to data processing, where this is necessary, as well as for withdrawing such consent. Eurobank promotes new products and services, other than the ones the customer has already received, only if the customer has priorly given their explicit consent. The relevant legal provisions on unsolicited electronic communication are also taken into consideration regarding Eurobank’s promotional activities.
• In the case of a personal data breach, Eurobank, as a data controller, notifies the supervisory authority, without undue delay and (where feasible) within 72 hours after having become aware of it, unless the personal data breach is unlikely to result in a threat to the rights and freedoms of natural persons. To assess and manage any incident, an Incident Management Team is established, which includes the Unit in which the incident occurred, the Personal Data Protection Unit, as well as other appropriate and competent Eurobank Units.
• Ensures that employees are trained about GDPR issues by providing appropriate-awareness-raising and training of staff involved in processing operations.
• Has established measures to monitor and mitigate data privacy risks. Furthermore, the Bank conducts regular privacy risk assessments or audits on the Bank’s technologies and processes affecting user data.

During 2021 the Bank was not required to disclose any incidents of personal data breaches to the Hellenic Data Protection Authority. Furthermore, there were no substantiated complaints about privacy violations and losses/leakage of customer personal data.

During the same period, the Bank received 512 customer requests and handled them within the deadlines set out in the GDPR. The majority of these requests related to exercising the right to object to the transfer of personal data to credit servicing and debt notification companies.

As part of its responsible customer information strategy, Eurobank focuses on providing customised information to every customer/counterparty, with a view to communicating its products and services in a transparent manner. To this end, it has set up customer support departments, as well as both traditional and online service networks. It has also established simple and easy-to-understand procedures and has created brochures to inform customers accurately and clearly about all its products and services. The Bank applies the regulatory framework and the Banking Code of Conduct and has control mechanisms in place to ensure compliance with the legislative framework.

Before carrying out any transactions with the Bank, or any requests for products and services, customers may refer to the General Terms of Banking Transactions and the Terms of Payment Services. Then, customers may obtain detailed information about the features of a product or service they may be interested in through the special pre-contractual documents for each product, or through the Bank’s branch network, the corporate website (www.eurobank.gr) or e-Banking.

The information initially provided to customers about their transactions with the Bank offers a general overview of the General Terms of Banking Transactions and the Terms of Payment Services, information about the processing of the customers’ personal data, the potential recipients of such processing and the customers’ personal data protection rights. Customers are also informed about the Bank’s charges for its products and services through the Bank’s Transaction Price List, as well as about other matters, such as the protection of their deposits and investments by the Hellenic Deposit and Investment Guarantee Fund.

Clients who are interested in getting a loan are informed of the main features of the loan in writing, before signing the loan agreement, in the form of a standard pre-contractual information sheet. They also receive personalised information about the purpose of the credit extended, the possible duration of the loan, the interest rate type and how it is calculated, the currency, the frequency of loan repayments and the forms of collateral for the loan. Additionally, after a loan agreement has been signed, customers are kept updated through regular statements, but also in response to a relevant request from them. Similar information is provided to customers about investment products prior to signing an agreement, when the agreement is signed and on a regular basis thereafter, by duly qualified Bank officers.

Borrowers who encounter difficulties in repaying their debts are offered debt settlement solutions, such as lower monthly instalments, interest-only payments, extension of the loan term, interest rate reduction and interest write-offs. As regards debts in arrears, borrowers may apply for inclusion in the Arrears Resolution Process, pursuant to the Code of Conduct for Loans under Law 4224/2013, through the Bank branches. Information about this process is posted on the Bank’s website (www.eurobank.gr).

Customers may obtain additional information about their transactions with the Bank whenever necessary through a Bank branch, the Bank’s website, e-Banking or EuroPhone Banking (+30 210 95 55000). The Bank’s primary goal is to provide continuous, prompt and accurate information to its customers.

Complaint Management

The Bank approaches clients with compassion, understanding and respect for their problem, exhausting all possible margins to reach a friendly solution to the issue.

To achieve its goals and respond to customer complaints better and faster, the Bank reviewed its Complaint Management Policy, in compliance with Executive Committee Act No.157/2019 issued by the Bank of Greece, as in force, and updated its processes based on international standards (ISO 9001 and 10002).

The most important elements of the Policy are posted on the Bank’s website, aiming at keeping clients informed about how to file a complaint, how it is managed, what the response times are, how their case may be reviewed and any other useful information.

Performance in terms of these actions is measured using qualitative indicators set by the Bank that relate to the whole range of operations in terms of complaint management, while at the same time, statistics are extracted, which are reflected in reports, used to keep the Bank’s Management updated.

The commitment to customer service and the sincere interest of Eurobank are reflected at every stage of this complaint management, as clients are continuously kept up to date about the progress of their case. At the same time, communication is maintained even after the case has been resolved, to determine whether the client was satisfied with the outcome, as well as to receive their comments and feedback.

All the information is used to identify and highlight the reasons for dissatisfaction among clients and to recommend improvements based on the provision of better service and the prevention of any future issues, contributing to strengthening the Customer Excellence Sector’s task. Paying attention to the importance of complaint management, the results oversight is taking place on a regular basis by the Executive Board of the Bank as well as by a Board level Committee.

In 2021 19,824 new client cases were managed with compassion (of which 19,338 were resolved), impartiality and sincere willingness to find a fair solution, using the data obtained to submit relevant proposals for improving services and procedures in various areas. The percentage of complaints resolved within 2 business days reached 40%, while the average resolution time was 10 calendar days. At the same time, customer satisfaction rate for 2021 reached 47%.

Customer Excellence - Improving Customer Experience

Establishing an overall culture of excellent service and continuously fostering this commitment is a primary goal for the Bank. For Eurobank, reinforcing its relationship and cooperation with clients is a major challenge and a primary strategic aim. To this end, Customer Excellence was launched, aiming to provide customers with excellent service through all points of contact and to secure relationships of trust.

The effectiveness of these actions and initiatives is further supported by the Retail Customer Excellence Committee, which is made up of senior Bank executives and is tasked with making decisions that will produce the desired outcomes for quality and customer service issues.

Additionally, Eurobank makes the most of customer experience data (Voice of Customer) from all available sources, internal and external, such as complaints, surveys etc., constantly adding new sources by initiating new VoC surveys at various touchpoints (branches, e-Banking, Eurobank Mobile App, v-Banking, ATMs, EuroPhone Banking) and for major products. These are analysed and evaluated to identify areas that call for improvement and to take corrective and preventive measures, so that the Bank services fully meet its customers’ wishes and expectations. Moreover, to better monitor results, certain quality indicators have been identified and are regularly monitored.

The Bank also runs tailor-made educational programmes, launches knowledge-sharing and best practices initiatives, undertakes actions to recognise excellent performance and allows for frequent visits to the front-office services, to constantly ensure that all the Bank officers share the customer-centric culture.

In 2021 over 153,000 customer evaluations on banking experience were collected through regular measurements. 61,000 comments were analysed, which helped improve existing services and/or design new ones, while the Customer Experience Improvement Division replied in writing to all clients who responded to NPS measurements, to thank them and assure them that their evaluation was taken into serious consideration. Finally, 720 customers were personally contacted to be informed about the actions the Bank was about to take with regard to their concerns.

The benefits of the organised effort by the Customer Experience Improvement Division to achieve excellent service performance are reflected in the NPS Index. Note that in 2021, the index in the branch network increased by 18 points compared to 2020.

 

Responsible Marketing and Communication

Driven by its human-centric culture, Eurobank designs products and services tailored to the individual needs of its customers. With a view to optimising the messages used in marketing campaigns, the Bank carries out systematic market research on each individual customer category, focusing on both quantitative and qualitative features that highlight the trends and expectations of its customers. Using adequate Customer Relationship Management tools, it is able to propose or offer to individual customers the product or service that truly meets their needs.

In the meantime, using customised communication tools, customers receive direct and prompt information on new deals about the products and services they choose. Marketing campaigns targeting specific customer groups take into account what stage each customer is at (new customer or customer who may have filed a complaint for a specific product or service) and follow a specific procedure for each stage. In addition, communication is not solely for the purpose of promoting products and services, but also aims to reward the relationship with the client as well as optimise product and services customer journeys by providing adequate information in every step of the buying process and also asking for customer feedback on the majority of the product use and acquisition touchpoints. For its targeted customer communication (via email, text messages, e-Banking messages, Viber instant messages, phone calls etc.), the Bank fully complies with the General Data Protection Regulation (GDPR) (EU) 2016/679 and other relevant legislation (Law 4624/2019, 3471/2006 etc.), in all available channels and for all updated methods used.

In 2021 the Bank’s main priority was to offer its customers a phygital experience, combining seamless customer service in daily transactions and commodity banking products with the expertise of relationship managers and agents (via more personalised channels, such as branch, v-Banking, EuroPhone) offering information and advice on more complex issues. More than 400 targeted communication campaigns took place, which focused on Personal Banking, Business Banking and Individual Banking customers, as well as on products and services of strategic importance for the Bank. These campaigns were launched across many communication channels (digital and physical). Meanwhile, a huge effort was made to keep in constant touch with the Bank’s customers, either via online or hybrid means, and as a result more than 100 events took place, including events with Business and Personal Banking priority clientele, standing by them on Asset Management, Corporate Banking and Investment Banking issues.

To ensure compliant advertising, Eurobank has developed procedures and mechanisms, in line with the relevant legal and regulatory framework, so as to promote and provide information about its products and services in a transparent and honest manner. Each new communication campaign is well organised and transparent, and the procedures and responsibilities of all units involved are fully specified. Each advertising/promotional campaign is subject to prior authorisation by the competent Bank Units, in line with the relevant regulatory and legislative requirements, while the content of the campaign is reviewed accordingly to ensure that it does not violate legal and regulatory provisions.

In 2021, no significant incidents of non-compliance with regulations and voluntary codes concerning product and service information and labelling were identified and thus no significant fines were imposed to the Bank. The Bank complies with the legal and regulatory framework in force from time to time on a national and European level. In addition, no incidents of non-compliance with regulations and voluntary codes concerning marketing communications were identified and thus no sanction were imposed. Note that when the Bank promotes its products and services, apart from the national and European legislation, it takes into account the codes in place with regard to communication, marketing and commercials, while it has established control mechanisms and safeguards to ensure compliance with the regulatory framework in force.

Market Research Projects

In 2021 Eurobank carried out a tracking study through an independent research firm, measuring brand KPIs and brand equity. The study focused on the general public and mediumsized businesses. The Bank’s image appeared improved in terms of fast and efficient service, innovation, flexibility in order to cover client needs, customer-centricity, customer support, and integrated and robust presence in the digital world, both in broad and specific audiences. It also conducted a series of ad hoc research projects.

Having in mind all the new needs and all the changes that the Bank introduced in its products and services to meet client needs due to the pandemic, it focused on exploring ways to better serve its clients. Moreover, market research played a significant role in the rebranding initiative of the Bank, both in terms of communication material, and in terms of the new service model and the functionality of the renovated branches.

Internal surveys were frequently conducted to monitor customer satisfaction, explore their evolving needs and evaluate the Bank’s products and services as well as new customer service practices. Standardised questionnaires were developed across channels and with specific metrics to streamline customer feedback. The feedback acquired was taken into account in order to improve the Bank’s products and services, in line with its strategy and business objectives.

Our main achievements and initiatives in 2021:

• Eurobank continued to take all immediate and imperative measures to protect its employees against Covid-19, fully complying with the guidelines issued by the governmental authorities, while at the same time reinforced internal protective measures by planning and implementing additional actions and initiatives.
• Eurobank capitalized on its growing expertise and employees’ familiarity with remote work, due to COVID-19, and launched the first exclusive hot-desking working space in its Piraeus Port Plaza premises.
• Supporting women empowerment in action, Eurobank launched its first Leadership Acceleration Mentoring program, Women In Banking (WiB). Through this initiative, Eurobank invests in creating and promoting an effective corporate culture of inclusion and empowerment which supports women to discover their talent and break the glass-ceiling in today’s challenging corporate environment.
• Eurobank is included in the 2022 Bloomberg Gender Equality Index (GEI). The 2022 Bloomberg Gender-Equality Index (GEI) includes 418 companies worldwide out of which five (5) are Greek. Eurobank records a high female employment rate and its inclusion in the 2022 Bloomberg GEI is an indication of the Group’s Commitment to supporting the career of its female employees as well as its focus on implementing the ESG criteria (Environmental, Social, Governance) throughout its operational structure.
• Continuing to invest in our people’s growth, Eurobank upgraded the existing performance developmental offerings of 360^o Performance Feedback and the individual Development/ Improvement Plan, embedding them all under the SAP SuccessFactors digital platform umbrella, hence creating a one-stop shop for all employee needs, allowing an even more user-friendly experience and 24/7 access.
• 2021 was a milestone regarding learning at Eurobank. Eurobank employees almost doubled their 2020 learning activity, dedicating 535,074 hours on Learning courses. To this direction, Eurobank launched the Digital Accelerator Learning Program that focuses on digital skills reinforcement and the AML Digital Learning in partnership with the International Compliance Association (ICA), aiming to raise awareness on money laundering and financial institutions crisis. In response to the post-COVID-19 new norm and the transition to a hybrid work environment, Eurobank designed a people management program, the Remote Work Bootcamp for Managers. A modern and job-specific learning experience that helped managers acquire the right skills to lead and support their teams effectively in the phygital era.

Employees are the most valuable asset for the Group’s success and development. As of 31 December 2021, the Group employed 11,935 (Dec. 2020: 11,501) employees 5,275 of whom (Dec. 2020: 4,737) worked abroad. 

Geographical distribution of employees - Greece

	Gender		Total
	Men	Women
Attica	2,133	2,721	4,854
Thessaloniki	226	309	535
Rest of Greece	470	801	1,271
Total	2,829	3,831	6,660

 

Distribution of employees by employment type - Greece

	Gender		Total
	Men	Women
Open-ended contracts	2,774	3,790	6,564
Attica	2,080	2,681	4,761
Thessaloniki	226	309	535
Rest of Greece	468	800	1,268
Fixed-term contracts	55	41	96
Attica	53	40	93
Thessaloniki	2	1	3
Rest of Greece	0	0	0
Total	2,829	3,831	6,660

 

Distribution of employees by employment type - Abroad

	Gender		Total
	Men	Women
Open-ended contracts	1,399	3,828	5,227
Fixed-term contracts	15	33	48
Total	1,414	3,861	5,275

 

Distribution of employees by employment type - Group

	Gender		Total
	Men	Women
Open-ended contracts	4,173	7,618	11,791
Fixed-term contracts	70	74	144
Total	4,243	7,692	11,935

Eurobank implements high standards of professionalism and policies against discrimination and exclusion, aiming at an open work environment for all, with respect to diversity and individual rights. It fosters an inclusive culture, complements practices and policies that support Business Ethics and ESG Strategy and enhance Social Responsibility commitment.

It does so because it is convinced that encouraging diversity in its teams and promoting an inclusive leadership style, as well as responding to the principles of social justice, offers major advantages for the business.

Diversity within the organisation leads to a broader range of experience, knowledge, skills and values, reduces the groupthink phenomenon and facilitates independent opinions and constructive challenging in the decision-making process. It also allows the Bank to attract and retain the best talent, encourage innovation via their varied and valuable experiences and bring it closer to a diverse and changing society. Eurobank believes in equal opportunities and is committed to creating a fair environment, where people can succeed regardless of gender, age, ethnicity, disability, religion, sexual orientation or cultural background.

Eurobank actively promotes equal opportunities for all employees to fully participate in its business success and provides objective and fair access to senior management positions, equality in salary criteria and meritocracy during evaluation and rewards. It strives to ensure that all decisions about professional development, promotions and any advancement of employees are based on performance and demonstrated potential.

Its commitment to diversity and inclusion aligns with its values and is reflected in its Code of Conduct. Diversity and inclusion are sponsored at the highest levels within the Company and initiatives are applicable – but not limited – to its practices and policies on mobility; recruitment and selection, compensation and benefits, professional development and training, promotions and transfers.

At Group level, the average employee age is below 45 years, while female employees represent 64% of the total headcount.

Eurobank supports every phase of the family life cycle, providing a broad range of benefits and initiatives to empower its employees and all modern forms of families. It supports parents, irrespective of gender, age or marital status and is proud of the exceptional range of benefits that its staff enjoy, providing an excellent framework within which each staff member may pursue growth, irrespective of their personal or family situation.

In addition, it condemns unequal treatment and is very strict when it comes to any type of harassment, intimidation and extreme behaviour. Discriminations based on nationality, gender, parental status, colour, religion, health, sexual orientation, etc. are not in tune with its principles and values. The Group has adopted a zero-tolerance approach, which applies to all  staff and prohibits all forms of discrimination, whether direct or indirect. It is also reflected in  contractual documents adopted when entering into relationships with third parties.

Eurobank’s participation in the 2022 Bloomberg Gender Equality Index (GEI) also confirms the  Bank’s commitment to supporting responsible, non-discriminatory growth and its commitment  to the ESG (Environmental, Social, Governance) criteria in all aspects of the Group’s operations.  It is very proud to be among the 418 companies worldwide and the 5 companies in Greece to  be included in the international 2022 Bloomberg Gender Equality Index.

Diversity Initiatives

Eurobank invests in creating and promoting an effective corporate culture of inclusion and empowerment. To this end, in 2021 it introduced the Women In Banking (WiB) – Leadership Acceleration programme, which provides mentoring for women, as well as targeted webinars and learning offerings. The programme is sponsored by Mr. Stavros Ioannou, Deputy Chief Executive Officer, Group COO & International Activities.

This programme brings to the spotlight the issue of providing women with equal access to key roles and senior management positions within the Group, while enables them to unlock their talents, develop modern leadership skills and gain valuable experiences and knowledge from women with successful careers within the organisation. WiB aims to provide talented women with guidance in overcoming obstacles or perceptions that limit their professional development and valuable advice to form an impactful leadership identity that accelerates their career.

At Group level, new hires in 2021 mostly covered needs in international subsidiaries (81% international subsidiaries, 19% Greece). Placing emphasis on attracting and selecting talented people with deep knowledge, the Bank’s new hires encompassed executives with a strong academic background (95% holders of graduate and postgraduate degrees and PhDs), skills that respond to the contemporary workplace and professional experience, usually at least 5 years of service (61%). The respective rates for Greece were 96% and 54%.

The recruitment and staffing policy is based on merit. The Bank is not influenced by gender, nationality, age or other discriminations. The entire evaluation process for both external hires and senior appointment roles within the organisation is based on Eurobank’s values. Eurobank treats its employees objectively and fairly and openly provides them with the tools to advance their careers. The recruitment process applied in Greece has been certified as per the ISO 9001 standard since 2020.

In 2021 the Bank continued implementing its digital and upgraded experience for recruitment through the SAP SuccessFactors suite, which is aligned with the modern way of attracting the new generation and aims to simplify managing the entire recruitment process at Eurobank. This new system strengthens Eurobank’s corporate image, while it provides all internal and external candidates with a friendly experience, accessible through all smart devices.

Attracting and Retaining Talent

Attracting, retaining and motivating talented employees is fundamental to the successful delivery of Eurobank’s business strategy.

In this context, in 2021 Eurobank designed and implemented a new and modern talent programme, CareerUp, aiming to attract and recruit talented mid-career professionals for various Bank divisions (Retail Banking General Division, Group Digital Banking General Division and Group IT General Division). The assessment was fully digital and online, making the most of contemporary tools and methodologies to ensure quality, professional experience and equality standards were met.

For Eurobank, brain regain is a key factor for determining the level of competitiveness and attracting talent. In 2021 the Bank targeted talent with international and diversified experience to strengthen its teams and help build a rich and more fulfilling workplace culture for all employees. As a result, approximately 10% of hires in Greece came from abroad.

In 2021 Eurobank continued to pace next to the new generation through actions and new initiatives, maintaining its profile as a contemporary and powerful employer. Once again, it participated in the largest Career Forums in Greece, which took place online, such as Panorama of Entrepreneurship and Career Development, Developers Day Digital (Kariera.gr) etc. The educational and informational career event (6th Business Day in partnership with the Entrepreneurship Panorama) was also carried out online, giving young students and graduates of various schools the opportunity to meet Eurobank executives and talented employees and learn about Eurobank’s activities. Furthermore, Eurobank sponsored TEDxNTUA, an event organised by university students, aiming at informing young participants about new ideas and new skill building.

The programme for welcoming new employees to the Group (Onboarding Experience Programme) ran for all new employees joining Eurobank in 2021. This programme is a comprehensive welcoming experience for new employees. It is also based on the active contribution of managers, personalised communication and practical support during the adjustment period, such as providing an induction program, a welcome kit and assigning each new employee a buddy for day-to-day questions and concerns.

Remote Working

In 2021 Eurobank capitalised on its growing familiarity with remote work, due to COVID-19, and launched a hot-desking-focused initiative in its Piraeus Port Plaza premises. Outfitting the building in a hot-desking and remote-friendly way, providing portable equipment to employees, and launching a booking app for sitting arrangements and parking inside the building were all steps taken towards making Eurobank a modern workplace.

In addition, the Remote Work Policy designed following all legal due process of Law 4808/ 2021, article 67 and the learnings from working remotely during the COVID-19 pandemic, making Eurobank the first Greek Bank that is ready to go into a hybrid work model, even after the pandemic is over and restrictions are lifted.

Internal Mobility

The Group also focuses on deploying its existing workforce to meet internal staffing needs, according to their qualifications and applying meritocracy. This strategic choice offers substantial career development prospects and engagement, while at the same time it safeguards Eurobank’s standing commitment to develop its people. In 2021 47% of job vacancies in Greece were filled internally. At Group level, including Greek and international subsidiaries, the respective rate stood at 43%.

In 2021 the Internal Job Market was relaunched, integrating a new Internal Career Site, not just aiming at informing internal talent about available job openings, but also sharing important information about possible career paths within the organisation, as well as tips and best practices to successfully participate in the internal recruitment process.

Staff Attritions and Employability

In 2021 1,063 people left Eurobank, 20% of whom were included in voluntary retirement schemes (VES). Staff members who opted for VES in 2021 were offered the option to attend outplacement programmes, depending on their individual interests and profile. In particular, dedicated programmes were delivered, offering training and consultancy, either on preparing for professional transition and job search, or on issues relating to entrepreneurship or acquiring certain skills. These programmes were delivered by dedicated consultants.

The turnover rate at Eurobank Holdings remained at a very low level in 2021, at 9% (2020: 22 %). The number of people leaving the Group was significantly lower than in the previous year, particularly due to the agreement with doValue regarding the sale of 80% of subsidiary Eurobank Financial Planning Services SA (“FPS”) (Project Europe). The percentage of women in the total number of people leaving the company (720) was 68% in 2021 (2020: 63%).

Employee Attrition KPIs

	2020	2021
People left the Bank	1,869	1,063
People included in voluntary retirement schemes (VES)	43%	20%
Turnover rate	22%	9%

Overall, the programmes and measures help to ensure that the Eurobank Holdings Group can continue to position itself as an attractive employer. At the same time, Eurobank followed an open and structured process, where each employee received continuous updates from the management team and personal advice and guidance, resulting in maximising their employability (social impact).

Performance

Performance Management in Eurobank ensures a transparent, consistent and effective framework focusing on continuous personal improvement and alignment with the strategic objectives and values. Via the SAP SuccessFactors system, both employees and managers are able to monitor and manage performance goals in real time, 24/7, through all smart devices, while they are also able to provide instant feedback even via their mobile, regarding goals
and/or strengths and development areas throughout the year, keeping employees engaged and building productive, thriving teams.

“Axiopio”

Eurobank’s performance management system, Axiopio, is a comprehensive performance solution that incorporates best practices and uses modern approaches and functionalities that timely aligns the people of Eurobank with Group priorities, accurately assesses past performance and impact, and provides continuous developmental feedback that allows constructive discussions throughout the year.

Axiopio is upheld by the following principles:

• Transparency towards all employees.
• Objectivity and fairness through the same performance assessment parameters.
• Focus of development through continued performance improvement and ongoing professional development.
• Accountability for both the employee and their manager.

Performance assessments are simple, fast and more targeted, showcasing the added value each employee brings. Axiopio is fully integrated into the SAP SuccessFactors suite, and is user-friendly, available 24/7 through all smart devices, fully aligned with remote work and supports new ways of working.

Axiopio focuses on two performance parameters, priorities and behaviours. More specifically:

• Priorities are the main goals for employees. Both employees and managers can set, monitor and adjust them throughout the year. Moreover, pre-defined priorities and a KPI library contribute to defining and aligning them with broader corporate goals, while managers can easily cascade or set team priorities to broader/agile teams.
• Desired behaviours are based on the Eurobank values, embedding competencies that incorporate diversity, equity and inclusion elements, such as fostering personal integrity and trust, influencing with empathy and taking into account different views, building mutual beneficial relationships and learning from one’s own mistakes.
• Constant feedback is central in the performance assessment process, aiming at extroversion. Feedback is requested and received in real-time 24/7.
• Self-assessment allows employees to self-reflect and recognise strengths and areas that need improvement.
• Constructive feedback discussion, as an imperative step in the assessment management process, highlights the important areas of the previous year as well as the challenges for the current year, through open and honest dialogue.
• Performance assessments lead to a developmental message and not to a number, showing briefly the strengths and the development areas.

Senior Management Performance Feedback

A standard performance review process is in place for all Eurobank’s senior managers and includes the annual assessment of performance priorities and the 360° Performance Feedback that takes place every two years. All senior managers are assessed, in addition to their corporate priorities, to two common goals: Operational Risk Management, AML and Counter Fraud Awareness and Control Mechanisms and Business Unit's Utilization of the business unit’s Resources including human resources management.

The 360° Performance Feedback is vital in helping the senior managers understand how others perceive and experience them in the workplace. The 360° Performance Feedback is unique in being able to provide rounded feedback from multiple sources and unearth blind spots and hidden strengths, helping senior managers to raise self-awareness and increase accountability and performance. It is based on the Eurobank leadership model and consists of 11 leadership competencies, which are qualitative in nature, incorporate diversity, equity and inclusion elements, and cover the modern needs in competencies and skills for senior managers.

During 2021 Eurobank integrated the Senior Management Performance Feedback in the SAP SuccessFactors suite, allowing a user-friendly experience and access 24/7. Through this integration, senior managers can easily set their goals and cascade them to their teams, recommend raters to provide meaningful and quality feedback, perform the assessment in a lean and simple way, and get multi-dimensional reporting, designed to complement the breadth of response formats within the 360° feedback.

Highlighting the development needs of executives and designing individual development plans are supported by structured feedback and coaching sessions. Senior Management 360° Performance Feedback is also considered in the assessment phase of succession planning and promotions.

Professional Transition and Support Services

In 2021 Eurobank continued to offer employees who participated in the voluntary retirement scheme the option to receive professional transition and support services provided by dedicated consultants.

These internationally recognised services focus on providing advice and guidance about practical and effective ways to explore the job market. They help people plan their future professional goals to:

• Improve how they present and communicate their professional profile.
• Evaluate their professional skills.
• Properly prepare their CV.
• Explore the job market and capitalise on professional and social media networks.
• Launch their own entrepreneurial initiative.

Employees who participated in the voluntary retirement scheme but did not wish to use the professional transition and support services were given the option to transfer such services to their spouse or adult child, subject to conditions.

By the end of 2021, 326 employees voluntarily left the organisation and made use of these services.

Eurobank’s capacity for innovation, along with its competitive presence in banking, largely depend on its significant investment in the growth of its diverse talent. Learning remains at the heart of its people development strategy, empowering employees to evolve constantly in the rapidly changing world of employment, where upskilling is the driver towards its effort to transform successfully. Despite the considerable shift to hybrid working formats, which fundamentally re-shape the way people work and learn, 2021 was a milestone regarding learning performance at Eurobank.

Key 2021 achievements:

• 238,359 total participations in learning programmes Group-wide.
• 535,074 learning hours Group-wide.
• 313,427 learning hours in Greece.
• 59,658 learning hours of the activity in Greece were invested in programmes that promote consumer financial protection.
• 98.9% of total learning activity in Greece was delivered online / virtual live sessions.
• 7.47 learning days on average per employee Group-wide.
• 97.1% of Group employees participated in learning activities.

Annual average learning hours by employee1 category and gender - 2021
Employee Category	Women	Men
Employees	41.6	45.9
Middle Management	41.6	43.5
Senior Management	33	35

¹ Bank and Eurobank Holdings in Greece.

 

Learning at Eurobank is organised systematically through a broad range of equal opportunities and various resources provided to all employees, both individual contributors and managers,as well as external associates / contractors. “For our People Forward” Eurobank cultivates a culture of continuous learning that safeguards the upgrade of both human and technical skills, which are crucial in current roles and promote readiness for the future.

In 2021 the workforce in Greece invested approximately 197,000 hours participating in nonmandatory learning activities, which are not related to commitments required by the regulators. In essence, the people of Eurobank almost doubled the overall learning activity of 2020, considering only the time allocated to new skill acquisition, functional training, leadership and professional development.

The SAP SuccessFactors easy-to-navigate learning platform, which is live in Greece and Cyprus, supports a smart work environment that gives priority to knowledge. The people of Eurobank can discover a wealth of learning content in one location. The platform offers meaningful learning experiences, while it facilitates recommendations from peers and managers regarding learning activities. Furthermore, it accommodates the systematic release of digital learning content, which is curated or designed by its learning experts through modern authoring tools.

An inclusive offering of rich content, digital upskilling, leadership skill reinforcement and knowledge certification compose the main focus areas of the Eurobank learning strategy. In order to effectively meet the targets of this learning strategy and succeed in empowering its people, Eurobank invested approximately €1.9 million in 2021.

• LinkedIn Learning partnership. The strategic partnership with LinkedIn Learning, providing full-library access to more than 8,500 courses for the workforce in Greece, substantiates the Bank’s commitment to establish an environment within a learning organisation, where its people will thrive. Through LinkedIn Learning, Eurobank reinforces its people’s accountability to learn towards their personal and professional development, while responding crucially to the needs of the digital era. By the end of 2021, approximately 55% of the employees in Greece had activated their LinkedIn Learning license with a cumulative activity that exceeded 73,500 learning hours. In addition, Eurobank maintains collaborations with world-renowned digital learning platforms – Coursera, Interskill, Pluralsight, Skillsoft – offering access to courses on cutting-edge technologies and building in-demand skills for the business.
• Digital Accelerator. Considering the strategic importance of the Bank’s digital transformation as well as the need to enhance people’s digital skills, Eurobank launched the Digital Accelerator learning programme. This is a mega-programme consisting of six learning paths, which follow the European Digital Competence Framework (DigComp). This programme operates as a digital library, with 83 online courses, and covers the key components of digital competence, such as communication and collaboration, awareness and mindset, safety, information and data literacy, digital content creation and problem solving. To maximise learning engagement in this initiative, the Bank offers this programme as a gamified experience, through an online game environment, where employees can set individual learning goals, and earn points and badges, while advancing their digital knowhow. In 2021 almost 60% of the workforce regularly attended Digital Accelerator courses, while the programme is going to be completed within 2022.
• Remote Work Bootcamp for Managers. In response to the post-COVID-19 circumstances and the subsequent transition to the hybrid work environment, Eurobank designed a modern, job-specific learning experience to support the new management style and develop the crucial skills for the phygital era. Using blended learning delivery methods, people managers discover how to thrive through challenges, such as missing in-person interactions, as well as through new communication and information-sharing channels, building high-performing and engaged teams. In 2021 more than 665 managers attended this people management learning initiative.
• Regulatory-related programmes. In line with the expectations of its regulators, Eurobank strives to provide its employees with a multitude of learning opportunities that can further develop and steadily deepen their job-specific knowledge and professional efficiency. In addition, it aims to ensure that it achieves its mandatory risk objectives and that everyone acknowledges personal responsibility to manage risk. Specific focus is placed on:
  
  
  
  • Certifications. With regard to the strategic role of its dedicated relationship managers, mainly working in the Branch Network, it continues to offer tailored learning solutions for their preparation towards certification/re-certification exams for the provision of investment services, insurance mediation, mortgage credit and small business banking. In 2021 more than 5,000 learning participations were completed in these programmes, with an 82% success rate on average in the respective exams.
  • AML Digital Learning. This 3-module programme, developed in partnership with the International Compliance Association (ICA), was launched for all the Eurobank people in Greece in Q1 2021. The programme aims to raise awareness on money laundering, showcase the underlying risks for a financial institution and familiarise its employees with the regulatory framework. More than 99% of the participants successfully completed the programme which was linked to the annual performance assessment, demonstrating Eurobank’s commitment to ensuring maximum protection, mainly for its customers and the Bank.
• Management Systems training. Eurobank focuses on quality throughout its operations, and cares for its environmental footprint and social impact. At the same time, it remains committed to ensuring safety for its people and customers. In 2021 it renewed its online learning offerings on these topics and made them publicly available to its workforce on the SAP SuccessFactors platform. 1,027 participations in these programmes were completed during the year.

To deliver purposeful learning that meets the needs of its employees and the Group, Eurobank implements policies and processes certified to the ISO 9001 standard. Moreover, since 2015, Eurobank has been maintaining the ACCA Approved Employer accreditation (Professional Development Stream), demonstrating the high standards of learning it provides to support the continuous professional development of its people.

Professional Development

Eurobank develops and runs dedicated programmes to empower its employees, so that they can assume more demanding roles and improve their leadership skills.

• Leadership development programme
• Succession planning
• Talent management programme
• Career planning
• Development plan
• Improvement Plan
• Mentoring and Reverse Mentoring Programmes

Discover more about learning and development.

Employee, contractor and customer health and safety are a top priority for Eurobank. The Group responded to the new normal in HR issues with responsibility, flexibility and team spirit.

Eurobank took all immediate and imperative measures to protect its employees against COVID-19, fully complying with the guidelines issued by the competent authorities, while it also planned and implemented additional actions and initiatives. This way it ensured the Bank’s unhindered operation – serving its customers through all channels – and effective transition to teleworking for over 5,000 employees. Through providing continuous updates, issuing valid instructions, recording and monitoring the work status digitally and adopting new and more personalised ways to communicate, Eurobank aims to get closer to all its people. Implementing these measures led to controlling and minimising the spread of the coronavirus in the workplace, demonstrating that the safety of its people is an absolute priority for Eurobank.

The Occupational Health and Safety Policy that the Bank has in place since 2005, which is updated in line with current developments, is tangible proof that human resources are Eurobank’s most valuable asset.

Occupational Health and Safety Management System

The Group applies all measures required under national and EU legislation to ensure the health and safety of its employees, customers and associates. At the same time, the Bank implements a Health and Safety Management System (HSMS), as per the ISO 45001:2018 international standard on Occupational Health and Safety. In this context, Eurobank implements a prevention and safety programme for its employees through various initiatives. Eurobank’s Occupational
Health and Safety System covers all the Bank’s employees and activities.

With regard to premises, all network branches and 7 central buildings are certified as per ISO 45001:2018 (covering 3,924 employees, representing 59% of all employees), aiming to gradually cover all of Bank sites:

• 20 Amalias Avenue, 10557 Athens.
• 2-6 Pesmazoglou Street, 10559 Athens.
• 25th March and Teo Street, 17778 Athens.
• 40-44 Praxitelous Street, 10561 Athens.
• 3 Valaoritou Street, 10671 Athens.
• 5 Santaroza Street, 10564 Athens.
• 7 Santaroza Street, 10564 Athens.

The total injuries recorded in 2021 were 8, while the LTIFR (Lost Time Injury Frequency Rate) was 0.11.

Safety Engineers have prepared Occupational Risk Assessment Studies for all buildings. These studies are updated at regular periods and following any amendments, refurbishments etc. of the premises. All stakeholders (including all employees, either individually, or as part of pertinent Committees), in Occupational Health and Safety issues meet regularly and decide on all regular and extraordinary issues determining the implementation schedule.

The Occupational Risk Assessment Studies are carried out by dedicated engineers (the latest updates were assigned to a company specialising in this industry, following a tender organised by the Procurement Sector). All processes are audited by the inspections provided in the Occupational Health and Safety System (internal audit performed by an independent body and inspections performed by a certification body), government audits (SEPE), and safety engineers and workplace physicians, during their scheduled visits to the premises. In case of recommendations/observations, corrective action is taken. When required, the System processes are amended.

All employees are entitled to inform the Health and Safety Sub-Division, the on-site Safety Engineer or the Workplace Physician, in any manner, about anything they might notice that could pose a threat to their health and safety. Also, in all premises, certain employees have been named Safety Coordinator and Deputy Safety Coordinator. These employees are trained in Occupational Health and Safety issues and inform the competent officers (as above) of any dangerous situations.

The responsibilities of the Safety Coordinator and the Deputy Safety Coordinator include their obligation to immediately notify the competent officers of any work-related risk and submit regular written reports regarding the current situation at the premises of their responsibility. The Bank does not tolerate work conditions that could lead to injury or threaten the health of its employees.

The processes for investigating incidents relating to work include immediate notification of the competent and involved divisions about any incident, by submitting an incident report. In case of a work accident, the Safety Engineer also prepares a report, in which they propose corrective measures, when required. Communication and information are available to the entire Bank through the intranet (Connected), updated by the safety engineers and workplace physicians, the independent internal inspectors, the certification body inspectors and the government bodies (SEPE etc.).

Communication is also available for all employees through the Health and Safety account. At the Employee General Meeting (11.05.2019), Health and Safety Committees were formed and their members were elected. The invitation was extended following a Board decision of the Bank’s largest union and 3 Committees were formed:

• Central Occupational Health and Safety Committee (Athens) with 7 full members and 7 alternates.
• Regional Occupational Health and Safety Committee Macedonia-Thrace-Thessaly-Epirus (Thessaloniki) with 6 full members and 6 alternates.
• Regional Occupational Health and Safety Committee Crete (Irakleio) with 3 full members and 3 alternates.
• The role and responsibilities of the Occupational Health and Safety Committees are in line with the provisions of Law 3850/2010.

The Occupational Health and Safety Committee is an advisory body with responsibilities, including their responsibility to review the work conditions, propose measures to improve the work environment, monitor that the health and safety measures are applied and contribute to ensuring that they are met by all the employees.

As provided in Article 5 of Law 3850/2010, the Occupational Health and Safety Committee convenes with the employer’s representative within the first ten days of each quarter, on a date and time mutually agreed, to deal with issues that arise within the Company and relate to the responsibilities mentioned in the previous paragraph. The Safety Engineer and the Workplace Physician attend the joint meetings.

All employees are represented by these committees.

Prevention Services

• It runs six (6) fully equipped infirmaries in Attica, where physicians offer clinical services and medical advice to employees.
• It provides prescription services free of charge through associated physicians. In 2021 over 3,500 employees visited the infirmaries, while 3,199 prescriptions were issued free of charge.
• It offers regular medical check-ups to all employees. In 2021 a total of 504 employees had this check-up performed.
• It coordinates a Blood Bank, ran by Eurobank staff, to meet the needs of employees and their families for blood. In 2021 five (5) blood drives took place and 190 blood units were collected, while 182 blood units were made available to patients, following employee requests to meet personal or family needs.
• It regularly informs its employees and raises awareness on health and safety issues, nurturing personal involvement and a responsible mentality.

Support Services

To efficiently deal with any personal problems or emergencies, Eurobank has the following prevention and support mechanisms in place:

• First-aid and occupational health and safety training.
• Evacuation and emergency response drills at all the Bank buildings.
• Critical Incident Stress Management (CISM), supporting employees on handling sudden traumatic events and crises inside and outside the workplace (such as robberies, accidents, terrorist acts, workplace violence, inappropriate employee or customer conduct, sudden death, natural disasters etc.).
• Case Management (CM) Service, with a dedicated team of consultant psychologists and psychiatrists providing comprehensive support to employees facing difficulties, aiming to help them restore balance on a personal and professional level. A psychologist offers advice to the Bank’s senior officers on handling such issues.
• Support line, whereby employees may consult experienced psychologists until 21:00 daily, to get support in handling workplace or family-related problems or any other situations they might be preoccupied with.

Supporting our Employees and their Families

Eurobank has a modern benefits scheme in place applying to all its employees. Moreover, over the last years, it has been developing and implementing schemes, benefits and initiatives to empower its employees and support their families.

• Private healthcare insurance (covers all major expenses plus dental and eye care).
• Private life insurance in collaboration with Eurolife FFH.
• Pension capital management scheme.
• Saving scheme for children.
• Maternity benefits.
• Permanent total or partial disability benefits.
• Monthly child allowance for children younger than 21 years old (proportionate to the employee’s salary).
• Childcare allowance for children younger than 6 years old.
• Discounted rates for the Bank’s mortgage products and services.

Wellbeing and Work-Life Balance

• Eurobank offers additional leave on top of the statutory one, such as childbirth leave (pregnancy and post-partum) and maternity leave, with the option of reduced working hours or accrued leave.

• Leave for a child’s educational-related school activities.
• Paid parental leave, minimum 2 weeks in excess of the legal requirements, unpaid parental leave, paid leave for single-parent families, paid leave to adopt a child and paid parental leave for parents with disabled children, paid family/care leave for medical reasons.

Rewarding, Entertaining and Fostering Family Relations

• Rewarding Top Students “Aristouchoi”. Recognising the value of education, Eurobank has launched a reward programme for merit students. Eurobank awards money to employees and their children for achieving exceptional performance in secondary school or higher education, as well as for those continuing their studies with a postgraduate degree or PhD. In the 19 years of this initiative, over 2,780 students have been presented with awards. In 2021 383 awards were presented (for the 2019-2020 school/academic year). Through this programme, the Bank invests in the younger generation and recognises the children of employees who have outperformed at their school. The programme also covers all bank employees who have undertaken and topped postgraduate studies during their employment at the organisation.
• Actions for Kids
  
  
  
  • Christmas Gift Cards for children. In 2021 the Bank offered 12-month gift vouchers to more than 2,500 children of employees aged under 6 years old.
  • Christmas Art Contest for employee children aged 4-17. In 2021 the annual Christmas art contest was entitled “Santa Claus comes from the Future. Technology, the power that unites us”. The contest was jointly organised with the Museum of Greek Children’s Art and 400 children participated, while 2,500 employees voted to select the Bank’s Corporate Christmas Card. To this end, a short list of 50 drawings were presented to all employees via a virtual tour, while all of them received Christmas gifts themed around the creations of the 12 prize-winning children.
  • Christmas Online Art Workshops for employee children aged 4-16. Last year, Eurobank organised 6 art workshops through an online platform, hosted by professional artists and teachers. Through the workshops, all families and adolescents were introduced to the world of art, creation and learning. For the first time, 900 participants from all over Greece offered their creations to a non-governmental organisation to sell them and cover some of its basic needs.
  • As part of the Christmas activities, 4,500 tickets for 7 family physical and digital theatre events were offered to children of employees across Greece.
• For the second year running, the people of Eurobank selected their “Heart’s favourite Institution”, an organisation that would see Eurobank supporting their activity. Overall, four organisations outside Athens received a total of €15,000.
• In the summer of 2021, Eurobank organised several Creative Summer Camps for 416 children of employees aged between 4-15. This way, the children had the opportunity to spend part of their summer holidays in a fun and creative fashion, while their parents could take some load off their daily schedule.

Employee Engagement and Communication

Information, inclusiveness, collaboration and creating a positive employee experience constitute Eurobank’s main goals in terms of reinforcing employee commitment to the Group’s vision and values and increasing work satisfaction.

• Improving employee experience
• Recognising and rewarding Employees – Sto Epikentro (In Focus) Awards
• Fostering dialogue and information

Labour Unions

t is the Bank’s policy to communicate with its employees both directly and through labour unions. Six labour unions are active at Eurobank. They represent 87.4% of the human resources, i.e., 5,539 employees. The union with the most members is recognised as the employees’ official representative body in labour negotiations with the Bank’s Management. All Bank employees are covered by collective labour agreements (on an enterprise, sectoral and national level), while labour relations are regulated by the laws in force and the Bank’s Statute of Internal Service. All employees work full-time.

Find out more about listening to our colleagues.

Through its branch network, the Hellenic Post branch network, its ATMs and v-Banking, Eurobank aims to cover remote and inaccessible areas. Specifically, through the Helleni Post branches, it is present in 206 regions/municipalities with a population of less than 5,000 people (29% of HP branches overall), many of which have difficulty accessing services, such as islands (for example: Agathonisi, Anafi, Kalymnos, Karpathos, Kythira, Leros, Nisyros, Tilos, Halki, Folegandros, Amorgos, etc.). Furthermore, in 72 areas where there are no Bank branches or Post Offices present, access to services is provided via off-site ATMs (for example: Agios Efstratios, Alonissos, Symi, etc.), 6.5% higher than in 2020.

Apart from the digital channels, Eurobank provides products and services to customers through the channels listed below:

• Branch network
• ELTA network
• External network
• Telemarketing
• EuroPhone
• ATM, APS and PPU
• v-Banking

Discover more about making banking accessible.

Eurobank Financing Programmes

Eurobank promotes special financing products that specifically relate to infrastructure and supported services, aiming to assist businesses to grow and become updated, boost their competitiveness and improve the quality of the products and services they offer.

Loans disbursed:

• €46 million for professional equipment and €37 million for business premises.
• €7 million for leasing.
• Farming Sector (€3 million for the Farmer’s Card and more than €24 million for farming equipment).
• Tourism (€5.9 million for hotel premises through Hotel Business Credit and €1 million for equipment ).

Collaboration with EIF

Eurobank has been cooperating with the European Investment Fund (EIF) since 2016 in the context of the Cosme programme. The Cosme programme is supported by the Cosme Loan Guarantee Facility financial tool, which provides guarantees to financial institutions, so they may in turn increase their financing to SMEs with reduced collateral requirements. Financing in this context is made possible thanks to the guarantee that has been provided by Cosme and the European Fund for Strategic Investments (EFSI), set up under the Investment Plan for Europe. The purpose of the EFSI is to contribute to financing and carrying out productive investments in the European Union and to ensure increased access to financing. Since the signing of the original agreement on 16.09.2016 and up until the end of 2021, Eurobank financed 5,792 micro, small and medium-sized enterprises (SMEs) under the Cosme programme in all eligible sectors, to the amount of €591 million.

On 27.11.2020 an amendment and restatement agreement of the original agreement dated 16.09.2016 was signed between Eurobank and the European Investment Fund (EIF), which activated the new Cosme COVID-19 programme for supporting the economy due to the effects of the pandemic crisis. Up until the end of 2021, 1,913 micro, small and medium-sized enterprises (SMEs) were financed with €132 million.

In November 2021 an amendment and restatement agreement of the original agreement dated 21.12.2020 was signed between Eurobank and the EIF for a Maximum Portfolio Volume of €150 million, as part of the Rural Development Guarantee Fund (ESID EAFRD Greece FoF) aiming to support investments in agricultural holdings or investments in processing/marketing and/or development of agricultural products. ESIF EAFRD Greece is co-financed by the Hellenic
Republic, the European Union under the European Agricultural Fund for Rural Development (EAFRD) and the European Fund for Strategic Investments (EFSI). Europe invests in rural areas. Within 2021 14 micro, small and medium-sized enterprises (SMEs) were financed with €1.5 million.

To support new investments in SMEs, Eurobank, in collaboration with the EIF, participated in the ESIF ERDG Greece Guarantee Fund (EEGGF), financing investments by small and mediumsized enterprises operating in Greece. The EEGGF is co-financed by Greece and the European Union / European Regional Development Fund, through the EPAnEk Operational Programme. The objective of the EEGGF is to improve access to finance for SMEs through loss protection provided by the EIF Guarantee to newly originated loans or finance leases for eligible SMEs in Greece. The programme, which aims to facilitate the access of SMEs to financing, offers funds for capital investments and working capital at a guarantee rate of 80%. Within 2021 370 SMEs were financed with €36.7 million.

Working Capital with Interest Rate Subsidy by the Hellenic Development Bank, within the Context of the Business Financing – TEPIX II, Sub-programmes 3 and 4 action

Aiming to support the economy to successfully overcome the challenges posed by the COVID-19 pandemic, Eurobank, made the most of every favourable measure to facilitate access to financing for Greek enterprises, to help the Greek economy return to normality and support employment. Specifically, in collaboration with the Hellenic Development Bank (HDB) within the context of the Business Financing – TEPIX II, Sub-programmes 3 and 4 action, Eurobank provides financing for working capital to SMEs that have been affected by the COVID-19 pandemic, with zero interest rate for the part of the principal co-financed by TEPIX II and interest-rate subsidy for the first two years by the HDB for the loan principal provided by Eurobank. Part of the funding is provided by the European Regional Development Fund (ERDF) and national funds. In total 2,692 SMEs received €328 million in financing through the sub-programmes. During 2021 58 SMEs received €5.4 million in financing. The new Working capital with interest rate subsidy by the Hellenic Development Bank (HDB) within the context of the Business Financing – TEPIX II sub-programmes 3 and 4 action is complementary to the existing sub-programmes 1 and 2 for carrying out investment projects and meeting working capital needs.

Liquidity Enhancement for Businesses with Working Capital. Eurobank participates in the COVID-19 Loan Guarantee Fund of the Hellenic Development Bank

In cooperation with the Hellenic Development Bank (HDB), Eurobank participates in the COVID-19 Loan Guarantee Fund (Guarantee Fund) for the disbursement of new working capital loans covered by the guarantee of the Hellenic Development Bank, to strengthen the liquidity of eligible enterprises that have been affected by the pandemic outbreak. The supported funding is implemented due to the guarantee provided by the COVID-19 Loan Guarantee Fund of the HDB, co-funded by the European Regional Development Fund (ERDF) and the Hellenic Republic, with the contribution of the Competitiveness, entrepreneurship and innovation business programme (EPAnEK). The new loans granted are in the form of working capital, with a 5-year term. A total of 4,777 businesses received financing in this context, to the amount of €511 million. During 2021 2,104 businesses received financing, to the amount of €136 million.

Financing under the European Commission’s EaSI

The Bank cooperates with AFI within the context of the EaSI programme for employment and social innovation, to provide financing to vulnerable social groups for the purpose of setting up or developing an existing micro-enterprise.

The financing enjoys the support of the European Union in the context of the Guarantee Mechanism established by virtue of Regulation (EU) No 1296/2013 of the European Parliament and of the Council for Employment and Social Innovation (EaSI) and the European Fund for Strategic Investments (EFSI), established under the Investment Plan for Europe. The purpose of the EFSI is to contribute to supporting the financing and establishment of productive investments in the European Union and to ensure increased access to financing. More information about the EFSI is available on the European Commission website (https://ec.europa.eu/commission/ priorities/jobs-growth-and-investment/investment-plan-europe-juncker-plan_el9) and on Twitter (#InvestEU).

In the context of this programme, and in cooperation with AFI, Eurobank provided financing to 438 businesses to the amount of €4.4 million in total. The financing may be used to cover needs such as working capital, and capital for investments in tangible and intangible assets.

Partnership Agreement (PA) 2014-2020

The actions of the Partnership Agreement (PA) for the Development Framework 2014-2020 mainly aim to boost the competitiveness and extroversion of businesses, focusing on innovation and on increasing the domestic added value.

Eurobank has developed a comprehensive range of advisory and information services for small and medium enterprises, enabling them to take advantage of the PA programmes. Business Advisors provide information about the co-funded programmes available to each business, while a dedicated phone line is also available for additional information or questions. Eurobank has come to an agreement with specific providers of eligible services within the ecosystem framework, to enable SMEs to find suitable partners for their investment.

An integrated programme has also been designed, which includes financing to cover both the private participation and the grant, ensuring adequate capital throughout every stage of the investment, so it may be concluded within the estimated time.

In 2021, Eurobank launched “Moving Family Forward”, a new Corporate Social Responsibility initiative to address the country’s demographic challenge.

As the rate of births in Greece is decreasing year by year and the population is constantly ageing, “Moving Family Forward” aims at providing young families with incentives for making the decision to have one or more children.

The initiative focuses on and applies only to the eastern borders of Greece – Evros, the North Aegean islands and the Dodecanese (regional units of Evros, Lesvos, Samos, Chios, Rhodes, Kos, Kalymnos and Karpathos). These are areas of outstanding national gravity, with several problems and limitations compared to other areas closer to the capital.

The initiative is structured in five pillars, including collaborations with non-governmental organisations for supporting future and young parents. It offers certain banking products with favourable terms for customers in those geographical areas who are parents of newborns. The Bank is also proceeding with a number of actions for setting the demographic challenge higher in the agenda of public dialogue.

Supporting education is a key pillar of Eurobank’s Corporate Social Responsibility, with actions that reward excellence, actively assist the new generation by offering opportunities for training and successful entry to the job market, promote and accelerate startups, and prevent the brain drain. Rewarding fair play and the continuous effort to conquer new pinnacles, showcasing academic performance and potential, and supporting structures and initiatives that protect children in need through scholarships are an integral part of the Bank’s Education and Excellence programme.

“Moving Education Forward”

Since 2003, Eurobank has been running “Moving Education Forward”, an initiative previously known as “The Great Moment for Education”, which rewards academic performance. Until 2021, the 19th year of the initiative, Eurobank had awarded more than 20,000 top highschool students throughout the country.

“Moving Education Forward” demonstrates how the Bank respects values such as knowledge and excellence, and contributes towards recognising the decisive role education plays in selfactualisation and collective progress. It rewards the top graduate from each of the 1,760 general and vocational senior high schools in Greece who achieves the highest score in the university entrance exams – over 18,000 credits. It is supported by the Greek Ministry of Education and Religious Affairs and each honours student awarded receives an €800 cash prize.

Scholarship Programme of the Center for Talented Youth (CTY) Greece

Internationally recognised Johns Hopkins University, USA, and Anatolia College joined forces to create the Center for Talented Youth, which started operating in Greece in 2013, under the auspices of the Greek Ministry of Education and Religious Affairs and the Cypriot Ministry of Education and Culture. Eurobank is a Major Sponsor of the CTY. Through the scholarships, it aims to give students with excellent academic skills in Greece and Cyprus the chance to participate in educational programmes that stand out for their innovative and groundbreaking teaching methods. From 2013 to 2021: 13,783 students have participated in exams, 6,138 students have participated in the programmes and 1,217 students (more than 51% of the participants) got a scholarship.

Following the raging wildfires of in Attika, Evoia and the Peloponnese in August 2021, Eurobank committed to contribute to the State’s efforts to reconstruct the affected areas by donating 1 million euro in total. More specifically, the Bank announced its intention to designand execute an integrated programme for restoring the forests that were destroyed, in a sustainable manner, in an effort to facilitate fire prevention and protection, as well as educate local communities, and especially younger students, towards the same direction.

Moreover, Eurobank announced its intention to sponsor the renovation of facilities at Sotiria Thoracic Diseases General Hospital of Athens, recognising the central role the hospital played in fighting COVID-19 since the beginning of the pandemic crisis. Furthermore, the Bank provides assistance to a significant number of non-governmental organisations and institutions that mainly support children and vulnerable population groups.

Corporate Citizenship

Sports

Participation in high performance sports shows the value of personal effort in striving to push  one’s limits to achieve success. However, it also promotes team spirit and the sense of being  part of a larger group, which supports and motivates its members to gain distinctions. For  many years now, Eurobank has been standing by Greek athletes whose efforts are invaluable  examples of ethical demeanour, perseverance, commitment and self-discipline, making all  Greeks proud.

Hellenic Basketball Federation
For 21 years, Eurobank has been the official sponsor of all Hellenic National Basketball Teams.  It has been the longest running sponsorship in Greek sports and one of the longest in Europe.  Greek basketball has demonstrated that teamwork, persistence and dedication to goals are key drivers for awards and success. This has proven to be one of the most successful partnerships, as Greek basketball has earned a total of 25 medals.

P. Mantis and P. Kagialis Sailing Duo Sponsorship
The Bank has always been the sponsor of great athletes who have achieved high distinctions in sea sports. Following its extremely successful previous sponsorships, Eurobank became Gold Sponsor of the Panagiotis Mantis and Pavlos Kagialis sailing duo, supporting their endeavours towards the Tokyo Olympics, in the men’s 470 sailing class.

Culture

Eurobank strongly believes that all opportunities for intellectual stimulation must be encouraged  and significant cultural actions must be showcased. To this end, Eurobank significantly contributes to getting the public acquainted with classical and contemporary cultural works. Through its sponsorships in culture, the Bank showcases cultural performances in Greece. It has an affiliation with the Greek National Opera, and it creates opportunities to foster music education and intellectual stimulation in young and old.

Greek National Opera
In 2021 Eurobank had scheduled to exclusively sponsor the ballet production of Don Quixote at the Greek National Opera, which was postponed due to the pandemic.

Historical Archives
In 2021, despite the difficulties posed by the pandemic, the Bank’s Historical Archives continued to enrich its archives and collections, and systematically record all new acquisitions, with the aim of opening them up to researchers, when the conditions allow so. The efforts generally concentrated on digitally planning the future and archiving its actions.

Corporate Volunteering

In the spirit of giving back to its community, Eurobank has established and supports the TeamUp initiative. This is an employee volunteer programme that has been up and running since 2018.Based on the philosophy of a high sense of purpose, the TeamUp Volunteer Programme offers the opportunity to both employees and their family members to participate in volunteer  actions. Until 2021, nearly 900 employees had joined the programme, participating in a total of 18 events and offering more than 1,400 hours of volunteer services. (Due to the pandemic, no activities took place in 2019-2020). In 2021 the volunteer team took the lead in the following initiatives:

5th No Finish Line Athens Run
In 2021 128 TeamUp volunteers took part in the 5th No Finish Line Athens Run, the biggest charity running and walking event in Greece and globally, which was held at the OAKA Olympic Complex. Eurobank's team of volunteer runners covered a total of 1052.56 km, a distance that corresponds to €526.28, which were donated to the Together For Children – Mazi Gia To Paidi Association.

ELEPAP Christmas Bazaar
Supported by professional artists and teachers, Eurobank organised 6 art workshops on a digital platform, counting 900 participations from across Greece. For the first time, 600 Christmas creations were donated to ELEPAP, a non-governmental organisation. ELEPAP then sold these at its Christmas Bazaar, to meet some of its basic needs.

A Beloved Association
In the context of the Beloved Association initiative, and through a voting process where all employees participated, a donation of €15,000 was made to support 4 social bodies. Specifically, the White Butterflies, a foundation established in 1974 in Volos that runs a boarding house for 50 people of all ages with severe mental disabilities (including Down syndrome, Autism and various sensory disabilities), received €6,000, while three other organisations – Initiative for Child in Veroia, Papadopoulio Child House in Kalamata and ELEPAP AMEA Friendly Association – received €3,000 each to meet basic needs.

Growth Awards

In 2016 Eurobank, in partnership with Grant Thornton, established “Growth Awards” with the aim of rewarding companies that combine high financial performance with a successful corporate history, and contribute to the formation of a new entrepreneurial landscape and work culture in the country. The awards aspire to become one of the leading ways of acknowledging business excellence and supporting the growth of robust enterprises in Greece.

Up to now, the 5 “Growth Awards” ceremonies have awarded 32 of the most powerful Greek enterprises. More than 2,000 guests attend the award ceremony every year, 5 internationally renowned speakers have been hosted and around 80 enterprises apply every year. The Award Committee consists of 20 distinguished individuals from the Greek business and academic arena.

Entrepreneurship

egg - enter•grow•go

In the area of innovative entrepreneurship, the Bank – in partnership with Corallia, a unit of the Athena Research Centre, an organisation that sets up and manages Greek innovation clusters and other units that support entrepreneurship – has been running the egg – enter•grow•go initiative since 2013, offering young entrepreneurs an integrated framework of business incubation, acceleration and co-working. The 9th cycle commenced in 2021, maintaining its focus on developing innovative businesses in three key areas: extroversion, financing and interconnection of businesses with the global market.

Specifically, since 2019 egg – enter•grow•go has been consisting of two distinct and complementary entrepreneurship support platforms: egg Start-Up and egg Scale-Up.

The egg Start-Up platform is addressed to individuals, business teams or startups with new business ideas, aiming to support them in their first business steps, so they may grow and market their product or service faster (incubation). Provided the business teams have established a company in order to implement their business plan, they have access to specific financial tools, so they may receive financing based on the special needs of each team. The possibility of financing is offered through: a) access to financing in the form of microcredit through the Action Finance Initiative (AFI), in the context of the EaSI European programme, b) access to financing through the special Bank programme for financing egg startups, and c) support in
attracting financing from private investment funds (venture capital funds). Specifically, in 2021 Eurobank provided €220,000 in financing to egg companies.

The egg Scale-Up platform is addressed to more mature startups, which are looking to increase their sales and reach the next round of financing through their accelerated product growth. The egg Scale-Up platform is the advanced egg – enter•grow•go business accelerator.

In the last 9 years, egg – enter•grow•go has become one of the most comprehensive business acceleration programmes in Greece. It has also substantially improved its positive image in Greece and abroad, and has become an industry standard for every new initiative launched in the Greek startup scene.

The egg initiative has left its business and social mark:

• 1,000 individuals have been hosted at the egg.
• 275 business teams have been included in it.
• 150 business teams have formed a legal entity and 92 of those had a combined turnover of €12 million.
• 36 companies have applied for patents.
• 68 companies have travelled to the largest technology ecosystems worldwide.
• €12 million have been invested in egg by Eurobank.
• 36 companies have received over €25.3 million in equity funding (investments from venture capital funds).
• 49 egg companies have received €3.2 million through Eurobank financing tools.
• €89,000 have been donated to NGOs by the egg startups.

Tourism and Culture Cluster

With egg – enter • grow • go as the facilitator and administrator, Eurobank intends to support cluster members in getting organised, networking and coordinating their efforts, with the goal to support the launch and development of the first Greek Cooperative Innovation Cluster in Digital Technologies in the Tourism and Culture Industries (Tourism and Culture Cluster).

This initiative primarily incorporates innovative companies and secondarily other supportive organisations based in Greece which promote innovation, research and networking, and are active in the wider industry of digital tourism technologies and applications.

The main purpose for creating the Cluster is to secure financial viability, forge partnerships, and achieve economies of scale and economies of scope for the Greek value chain, entrepreneurship and innovation in the area of digital applications and technologies for Tourism and Culture. Within the context of the Cluster, Eurobank and egg – enter • grow • go are going to support this initiative and its members, both in terms of extroversion and financing.

The goal of the Cluster is to digitise tourism and cultural products, and make the most of the competitive advantage of the country through the use of software and digital content technologies, smart mobile apps and other high-tech applications. This will offer visitors new travel experiences.

Exportgate and Extroversion Initiatives

Eurobank aims to actively contribute to the country’s economic growth and recognises the importance of entrepreneurship as a major lever for the expansion of the Greek economy.

The Bank focuses on supporting the extroversion of Greek businesses and encouraging new business initiatives. In addition, the Bank, with the support of four Greek leading export associations (Panhellenic Exporters Association, Greek International Business Association, Exporters’ Association of Crete and SEV-Hellenic Federation of Enterprises), created Exportgate, a pioneering international web trade portal offering networking opportunities in the global market to Greek and Cypriot companies and providing access to advanced tools for their international business operations.

Exportgate is a member of the Trade Club Alliance (TCA) network, following the strategic agreement between Eurobank and Santander, a leading bank in retail and corporate banking registered in Spain. The TCA is the first global digital business interconnection network supported by international banks in more than 60 countries. In this context, the Bank designs and carries out actions that promote extroversion through trade missions (Trade Corridors).

Due to the global pandemic crisis, Eurobank, together with another 5 international member banks of the Trade Club Alliance, co-hosted the 1st TCA Virtual Connect. In this interactive digital event, experts and country specialists from each of the six participating TCA members presented the current trends, challenges and opportunities in the Food and Beverage sector, while the participating client-companies of the member-banks held b2b meetings with potential partners.

Enterprise Greece, the official investment and trade promotion agency of the Greek State, and Eurobank signed a Memorandum of Cooperation aiming to increase export activity and attract investments. The initiative becomes even more important in the shadow of the pandemic crisis, and the imperative need to coordinate initiatives and actions that can support Greek companies in coping with current challenges, while it lays the foundations for a sustainable economic recovery, as soon as possible.

Tourism

Eurobank aimed to reaffirm its role as the Bank of Tourism, through a series of activities announced in early December 2021 to support the tourism industry. The announcement was made during the event hosted to report the actual results of the package support measures Eurobank offered to companies in the sector to cope with the pandemic and their investment needs, totalling around €747 million, which started in 2020. So the Bank has proved in practice that it remains firmly by the side of the tourism industry. Eurobank reported that the measures actually reached €720 million, mainly as a result of certain clients not enrolling in the programme or certain facilities not being drawn/required.

The 2020 package included the following measures:

• Freezing capital instalments for loans in 2020 and 2021.
• Providing liquidity to hotel companies for working capital covering their total needs for 2020, as well as for restarting the 2021 tourist season.
• Continuing the uninterrupted financing of approved investments in the hotel sector.
• Offering exclusive, favourable pricing for the CoVid Shield certification, for proper implementation of measures to stop the spread of the coronavirus, in partnership with the recognised international certification organisation TÜV - AUSTRIA - HELLAS LTD.

The 2021 package includes another €750 million in financing, as well as actions in relation to (a) sustainability-linked instruments providing benefits to the borrowers, (b) access to funds under the RRF Scheme by the hotel industry, (c) plans to support the human resources challenges faced by the sector and (d) providing liquidity to the wider tourism ecosystem.

For yet another year, Eurobank worked closely with its strategic partners, namely the Association of Greek Tourism Enterprises (SETE) and Marketing Greece SA, on initiatives aiming to promote and enhance Greek tourism.

Faithful to its strategic approach, Eurobank will continue to promote and actively support Greek tourism and industry professionals.