Sustainable operations

As climate change is becoming a dominant threat for the planet and its people, the Group has taken on an active role, with actions that benefit the environment, for this generation and the generations to come.

The Bank systematically manages its operational environmental impact. To this end, Eurobank has adopted an Environmental Policy, an Energy Management Policy and a Water Management Policy, aiming to protect the environment in all aspects of its operations.

To follow these policies, the Bank applies certified management systems, in accordance with international standards, such as an Environmental Management System (ISO 14001, EMAS) and an Energy Management System (ISO 50001). Through these certified management systems, it monitors its performance and minimises its carbon footprint by:

• Setting specific targets.
• Undertaking environmental initiatives.
• Designing and developing projects to protect the environment and improve the use of natural resources.

To this end, the Bank addresses its:

• Identified negative impacts through in-house operations which contribute to the release of emissions as a direct factor contributing to climate change.
• Positive impacts through energy reduction and efficiency in operations.

Implementing these systems has led to significant reductions in energy consumption and greenhouse gas emissions. This way Eurobank met the targets set for 2023 regarding 3% reduction in electricity consumption, as well as in Scope 1 and Scope 2 GHG emissions.

The 2024 targets are 5% reduction in electricity consumption (MWh) and 5% reduction in indirect Scope 2 emissions, 2% reduction in Scope 1 emissions and 4.67 % in Scope 1 and 2 emissions in tnCO₂e.

These environmental operational initiatives are detailed in the Environmental Report 2023 while performance data may also be found in the ESG Data Pack.

The importance of climate change makes energy consumption monitoring one of the most important environmental priorities for Eurobank. Eurobank applies a certified Energy Management System (EMS), in accordance with the ISO 50001 standard, with the purpose of responsible energy management in all the Bank’s facilities (all administration buildings / branches, covering 100% of its operations). This aims to minimise energy costs, the environmental impact of harmful greenhouse gas emissions and fossil fuel depletion.

The Bank’s energy consumption derives from:

• Oil and natural gas combustion for heating its buildings.
• Diesel and petrol for its own vehicles.
• Electricity consumption for Bank’s operations.

Key figures for 2023 compared to 2022:

• 34,721.42 MWh in total electricity consumption, down by 9.38%, representing 93.18% of the Bank’s total energy consumption. This performance was in line with the target set for 2023 for a 3% reduction compared to 2022.
• 37,261.27 MWh total energy consumption, corresponding to a 10.88% (4,547.33 MWh) decrease.
• 98.04 % (34,042 MWh) of the Bank’s electricity consumption originated from renewable energy sources (RES), certified through Guarantees of Origin (GOs), representing a 0.15% increase.
• 35,605.05 MWh electricity use for the Group entities in Greece, compared to 39,217.43 MWh in 2022, achieving a 9.21 % reduction.
• 97.62% (34,758 MWh) electricity consumption for the Group entities in Greece originated from renewable energy sources (RES), representing a 0.12% increase.

Energy intensity index

The Bank monitors its energy intensity index, which expresses the absolute energy consumption (including all types, i.e. electricity, natural gas and heating consumption, as well as petrol and diesel consumption for vehicles) for all its operational revenue.

This is used to monitor energy performance in relation to the scale of its activities (operating income 2023: €2,057 million).

In 2023, the intensity index was 18.11 ΜWh/€ million, up by 18.66% compared to 2022. The Bank’s aim is to reduce its energy needs in relation to its activities in the coming years.

Energy self-production

Energy self-production is a crucial element of Eurobank’s journey towards Operational Net Zero. The relevant project stream of the ESG Operational Impact Strategy includes 2 distinct self-production initiatives:

1. Rooftop photovoltaic (PV) stations installed on Eurobank buildings.
2. Standalone PV parks developed on Eurobank property.

These initiatives are implemented as cross-unit projects with the support of dedicated consultants and with regular updates to Senior Management. The energy and emission benefits of these projects are calculated in the Operational Net Zero transition path to carbon neutrality by 2033, per the respective commitments of the Bank.

PV power stations

Nea Ionia – In 2023, 1,203 PV panels were installed on the roof of the Nea Ionia complex. Each panel has a rated capacity of 550 W, while the total installed capacity of the PV station amounts to 661.65 kWp. The PV station will follow the net-metering method, which gives the possibility to store the electricity surplus in the electricity grid for free for a certain period, to use it when production is insufficient.

Following the energy study conducted, it is estimated that 970,200 kWh/year will be generated from the installed panels, with production peaking from May (110,100 kWh) to July (114,400 kWh). This will cover 11.6% of the total energy consumption of the Nea Ionia complex, while it will also lead to a reduction of 517 tCO₂e/year on the Bank’s carbon footprint.

Acharnes – In 2023, 376 PV panels were installed on the roof of the Acharnes building. Each panel has a rated capacity of 570 W, while the total installed capacity of the PV station amounts to 214.32 kWp. This station will also follow the net-metering method.

Following the energy study conducted, it is estimated that 288,590 kWh/year will be generated from the installed PV panels.

Standalone PV parks

In 2022, a feasibility study was commissioned for 3 plots of land in central Greece (owned by the Bank), in collaboration with a special consultant for the planning/ costing of permits.

In 2023, a special purpose vehicle (SPV) (Eurobank Renewables SA – EuroRES) was established. The relevant application was submitted to the Regulatory Authority for Energy, Waste & Water (RAEWW) and the producer licences issuance process was initiated in October 2023.

In 2024, the environmental licencing process for the PV parks will be initiated. The approval of environmental terms and the application for grid connectivity are expected to be completed within 2025.

Information on energy management is available in the Environmental Report 2023, while performance data can also be found in the ESG Data Pack.

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Eurobank has verified its greenhouse gas (GHG) emissions in compliance with ISO 14064-1, which provides a framework for quantifying and reporting GHG emissions and removals. Therefore, categorisation and reporting of GHGs is based on ISO 14064 (Category 1-6) and is aligned with the GHG Protocol Corporate Standard (Scope 1, 2 and 3). GHG emissions are analysed based on the GHG Protocol Corporate Standard as follows:

• Direct GHG emissions (Scope 1) deriving from the Bank’s:
  
  
  • Consumption of natural gas and burning oil to heat buildings (Category 1, subcategory 1.1-Direct emissions from stationary combustion)
  • Use of fuel (diesel and petrol) by the Bank’s owned and leased vehicles (Category 1, subcategory 1.2-Direct emissions from mobile combustion)
  • Use of oil to power the generators (Category 1, subcategory 1.2-Direct emissions from mobile combustion)
  • Fluorinated gases (F-gases) released by the air-conditioning systems and the automatic extinguishing systems of the Bank (fugitive emissions, Category 1, subcategory 1.4-Direct fugitive emissions from the release of GHGs in anthropogenic systems).

• Indirect GHG emissions (Scope 2) deriving from:
  
  
  • Consumption of electricity (Category 2, subcategory 2.1- Indirect emissions from imported electricity)

• Indirect GHG emissions (Scope 3)¹ deriving from:
  
  
  • Emissions from transportation and distribution of goods (Category 3, subcategory 3.1-Upstream emissions arising from goods transportation/ distribution)
  • Waste management (Category 4, subcategory 4.3-Emissions from the disposal of solid and liquid waste)
  • Business travel (Category 3, subcategory 3.5-Emissions from business travel)
  • Employee commuting (Category 3, subcategory 3.3-Emissions from employee commute).
  • Cloud computing usage (Category 6)

• Total GHG^1,2 emissions expressed in tonnes of carbon dioxide equivalent (tCO₂e) with the use of the location-based method amounted to 24,718 tCO₂e, down by 11.93% (3,348 tCO₂e) compared to 2022. Total GHG emissions using the market-based approach amounted to 6,537 tCO₂e. The market-based approach concerns residual emissions for which the Bank does not procure Guarantees of Origin.

This performance was in line with the environmental management targets set for 2023, i.e. a 3% reduction in GHG emissions (Scope 1 and Scope 2) compared to 2022. The Bank significantly reduced GHG emissions from operations, contributing to climate change mitigation and facilitating the achievement of the global sustainable development goal for the climate (SDG 13). In addition, the Bank calculates emissions of gaseous pollutants (sulphur dioxide-SO₂, nitrogen oxides-NOx and particulate matter) released into the atmosphere from burning fossil fuels and electricity, which amounted to 608 tonnes, and fluorinated gases (F-gases) released by the air conditioning installations, which amounted to 717 tCO₂e.

Carbon emission intensity index

Carbon emission intensity is calculated as GHG emissions of Scope 1, Scope 2 and Scope 3 per million euros of the Bank’s operating income. The carbon emission intensity for 2023 was:

• 1.10, 9.01 and 1.90 tCO₂e/€ million for Scope 1, 2 and 3 emissions respectively.
• 10.11 tCO₂e/€ million for total Scope 1 and Scope 2, up by 21.33 % compared to 2022.

¹Excluding Scope 3 Financed emissions (category 15) presented in Chapter Sustainable finance and ESG risk management.

²Aiming to effectively monitor and reduce its carbon footprint, the Bank has been using CO₂ emission factors from National Inventory Report (NIR) Greece 2023, Renewable Energy Sources Operator & Guarantees of Origin (DAPEEP SA), Department for Environment, Food & Rural Affairs (UKDEFRA) (full set, version 1.1 of 2023) and Global Warming Potential (GWP), as needed for each specific case.

Detailed information on environmental management is available in the Environmental Report 2023, while performance data can also be found in the ESG Data Pack.

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Eurobank’s objective is to gradually upgrade its real-estate portfolio, aiming to reduce its carbon footprint. It is shifting towards high-end, modern, environmentally friendly buildings, given that such buildings are in high demand and improve the local microclimate. The Bank is already upgrading prime assets into energy-efficient green buildings, focusing on continuously making progress towards this direction.

Eurobank has chosen green building certifications (LEED, BREEAM, EDGE), aiming to validate the sustainability value of its assets and to demonstrate its sustainability performance.

As of 31 December of 2023, 19 buildings owned by the Bank had been certified as green according to LEED/BREEAM standards. Certified properties have been included in the SBC Yearbook for Green Buildings.

Within 2023, technical and other actions were completed, in accordance with the Leadership in Energy & Environmental Design (LEED) requirements, for certifying the new Headquarters (on Omirou and Stadiou Street) in early 2024.

Eurobank Headquarters building

As of December 2023, the Eurobank Headquarters were relocated to a new building in the Athens city centre, on Omirou and Stadiou Street.

The Eurobank Headquarters is an iconic building in the historic centre of Athens that has been transformed into a highly aesthetic model of environmental management.

The building covers 4,500 sq.m. on a 430 sq.m plot and has been designed for exclusive use as a senior management building, able to accommodate up to 100 people.

The Eurobank Headquarters is a highly symbolic project, as it promotes the repositioning and reactivation of businesses in the centre of Athens, while promoting sustainable operation. The new building highlights the high development potential of the city centre, while enhancing the urban landscape.

The building improves the overall environmental impact of Eurobank’s operation and connects it to its vision for a sustainable future. It is part of the Bank’s portfolio of properties that comply and are certified with the latest green building and sustainable operation standards. In particular, the new building has been designed in accordance with the Leadership in Energy & Environmental Design (LEED) requirements and is qualified to receive Gold level certification within 2024.

Key aspects of the new building include:

• Renovation with sustainable building principles
• High functionality through state-of-the-art tech solutions
• Inclusivity / Accessibility
• Proximity to public transport
• Optimum environmental performance

Regarding the latter, the Eurobank Headquarters feature an energy efficient shell, energy conservation measures through high-tech lighting, air-conditioning and building automation, natural light management with automatic exterior blinds, planted roof and sidings with low-maintenance plants, zero-waste capable waste management facilities and highly efficient water management, including provisions for rainwater use for irrigation.

The high functional standards and bioclimatic features of the Eurobank Headquarters of significantly improve the environmental impact compared to the previous Headquarters:

• GHG emissions at -76% or 135 tCO₂e per year
• Energy at -80% or 385,000 kWh per year
• Energy Intensity at -37% with 4,812 kWh per employee or -47% with 86 kWh per square metre.

With regard to monitoring environmental impacts, the Bank has established a Water Management Policy, aiming to responsibly manage the use of water resources and the pertinent efforts for savings. By implementing this Policy, the Bank commits to paying particular attention to water conservation, by introducing measures such as the installation of special water-flow control systems in water supply facilities.

As a result in 2023, water consumption amounted to 54,894 m³, which represents a marginal (0.80%) increase compared to 2022.

In the context of reducing its waste, the Bank is cutting down on paper consumption, in line with digitising its operations (digitisation of product transactions, use of e-Statements, etc.). In addition, procedural interventions and a number of promotional activities were launched to encourage adoption of a digital culture.

The increase in the use of e-Statements was also significant in 2023, as more than 190,000 additional e-Banking users chose e-Statements, resulting in added savings of about 418,000 paper statements. The Bank’s financial savings from the discontinuation of paper statements have been substantial, amounting to more than €38 million since the service became available.

The entire supply (100%) of A4 and A3 paper is certified with the PEFC label.

Reducing, reusing and recycling waste constitutes a major pillar of Eurobank’s Operational Impact Strategy and its Environmental Management System. The Bank monitors and manages the life cycle of the following materials within the organisation (waste streams): toner cartridges, paper and packaging materials, waste electrical and electronic equipment (WEEE), light bulbs and batteries, defective/cancelled credit cards, plastic bottle caps, excavation/construction and demolition waste (ECDW).

The total amount of all waste streams generated in 2023 amounted to 1,457.7 tonnes.

The total weight of solid waste recycled in 2023 amounted to 341,965 kg.

Moreover, the Bank continued its successful electronic equipment donation programme, as part of the effort to manage the life cycle of the materials it purchases. In 2023, the Bank donated 1,349 pieces of electronic equipment, which amounted to about 8,188 kg.

Zero waste project

A new pilot programme has been implemented in the Nea Ionia complex and the Acharnai warehouse, including recycling technologies leading towards zero waste footprint operation. The key aspects of the programme include:

• Source Segregation: Materials are divided into 4 streams – paper, plastic, aluminium and glass.

• Placement of standard and smart bins/stations
• Onsite weighing of materials per stream to record quantities collected in real-time
• Real-time data collection through electronic application
• Electronic visualisation of measurements and overall progress

Additionally, in the Acharnai warehouse, organic waste is also monitored and managed appropriately.

Recycling of hazardous waste for the public benefit

As another integral part of the Operational Impact Circular Economy stream, Eurobank works with and supports financially the initiative of Appliances Recycling S.A., which designs, manufactures and places special recycling bins, accessed by the public and Eurobank employees.

The special bins are designed for the collection of small electrical appliances, mobile phones, tablets, inks and ink cartridges, supporting the respective recycling efforts and promoting the message of circularity to the public.

The concept was developed in 2023 under the name «Hungry Bins». 8 bins are specially decorated by a street artist and placed at various municipalities across Greece. The initial plan for 2024 makes provision for their placement in 8 cities throughout Greece, in central locations of high pedestrian traffic (squares, malls etc.), in cooperation with municipal authorities. In addition, 2 bins will be placed in Eurobank facilities in Nea Ionia and Piraeus, in an effort to promote circularity among Eurobank employees.

Eurobank will receive monthly updates from Appliances Recycling S.A. on the quantities of devices collected in Hungry Bins, to assess the effectiveness of the programme, and continue to improve its recycling and circular economy efforts.

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In 2023, Eurobank continued to implement new operational norms, in an effort to advance towards new ways of working and foster a transformative, more inclusive work environment. The Bank upholds high standards of professionalism and implements policies to prevent discrimination and exclusion, and create a workplace that respects diversity, equality and individual rights.

Throughout the year, Eurobank remained steadfast in its commitment to nurturing a continuous learning culture and equipping the workforce with the essential future skills to thrive towards the organisation’s vision for Eurobank 2030. It believes in providing equal opportunities for all employees and ensures objective and fair access to senior management positions, salary criteria, and merit-based evaluation and rewards. It also provides a comprehensive range of benefits and initiatives to support its employees throughout every stage of their family life cycle, regardless of gender, age, or marital status.

We Think Innovatively.
We Work Differently.

In 2021, Eurobank’s management team unveiled a transformative vision for the organisation, setting the stage for a new era in banking. This vision, known as “Eurobank 2030”, is a blueprint for the Bank of the future, outlining its strategic approach to operations and service delivery.

Drawing from this fresh perspective and guided by the purpose statement “Prosperity Needs Pioneers”, Eurobank introduced a transformative approach to work methods, aiming to translate the stated purpose into practical actions and behaviours, conducive to future success. Following an internal assessment, 12 innovative practices were delineated, shaping the Bank’s future work culture and, furthermore, empowering each employee to consistently embody the Bank’s purpose in their daily activities. These 12 practices focus on how to transform the work culture and behaviour across the organisation, in line with the standards of an enhanced banking experience that prioritises innovation and pioneering approaches.

Eurobank’s people in numbers

Employees are the most valuable asset for the Group’s success and development.

As of 31.12.2023, the Group employed 10,728 people, 4,405 of whom worked abroad.

At Group level, the average employee age was below 44 years with the average years of tenure below 13 years (actual number was 12.3 years), while female employees represented 65% of the total headcount.

Attracting and retaining talent

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Attracting, retaining and motivating talented employees is fundamental to the successful delivery of Eurobank’s business strategy. The recruitment and staffing policy is based on merit, meaning that the Bank is not influenced by gender, nationality, age or other discriminations. The entire evaluation process for both external hires and senior appointments 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 2000.

In 2023, the Group maintained its pursuit of continuous improvement of the Hybrid Work Model, a combination of alternating between working on premises and at home. This effort aligns with the Group’s increasing environmental sensibilities, and the continued focus on a positive and modern employee experience. To further improve said experience, a questionnaire was launched to assess how Group employees experienced the first year of officially working with the Hybrid Work Model and what suggestions they might have for its improvement. The results were resolutely positive, showcasing the Group’s commitment to enhancing the Hybrid Work Model, despite its already successful run.

Regarding employee mobility, the Career Marketplace intranet aims at informing internal talent about available job openings, and 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. In 2023, 55 job openings were posted on Career Marketplace and 48% of job vacancies in Greece were filled internally.

The average cost¹ of external hires for Greece was €442 per FTE.

Including #702 FTEs from BNB Paribas acquisition, Bulgaria Career

¹ Concerns the total expenses related to recruitment (excluding recruitment personnel salaries) per total number of external hires.

BeAPro talent graduate programme – Eurobank designed and implemented the programme, this time addressed to the Internal Audit Unit, aiming to attract and recruit talented graduates. The assessment was hybrid, as is the new way of working, making the most of contemporary tools and methodologies, to ensure quality, professional experience and equality standards were met.

Career forums – Eurobank continued to stand by the new generation through actions and new initiatives, maintaining its profile as a contemporary and powerful employer. It participated in the largest career forums in Greece, such as the Panorama of Entrepreneurship and Career Development, Career Days (Kariera.gr) and Talent Days (by CollegeLink). Furthermore, it participated in career events hosted by major universities in Greece, such as the Athens University of Economics and Business, University of Piraeus, University of Macedonia, etc.

Other events – Once again, for the 8th consecutive year, Eurobank, in partnership with the Panorama of Entrepreneurship, hosted the Business Day educational and informational career event onsite, giving young students and graduates of various schools the opportunity to meet Eurobank executives and talented employees and learn about Eurobank’s activities. It also participated in the 1st onsite Women in Tech Summit, aiming to empower women who are in, or want to join, the Tech field, with a senior female leader of the Bank’s Tech Division inspiring the participants with her professional growth story.

Staff attritions and employability

In 2023, 832 people left the Group.

Additional data may also be found in the ESG Data Pack.

Overall, these programmes and measures regarding attraction and retention initiatives help ensure that the Eurobank Holdings Group can continue to position itself as an attractive employer. At the same time, Eurobank follows an open and structured process, where each employee receives continuous updates from the management team, as well as personal advice and guidance, resulting in maximising their employability and, therefore, their social impact.

Continuous opportunities for professional development

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Performance management

In 2023, Eurobank introduced the Group Performance Management Policy, designed to establish a transparent, consistent and effective framework for enhancing employee performance, and aligning with Eurobank’s strategic objectives and values. This framework translates the Group’s strategy into practice by setting clear and measurable business objectives for employees («what») and promoting a cohesive organisational culture, by focusing on the development of the Group’s organisational capabilities and qualitative competencies («how») across all levels.

Performance Management is currently integrated into SAP SuccessFactors for enhanced accessibility in Greece and Cyprus, and will be implemented in Luxembourg within 2024. Both tools prioritise development and emphasise continuous feedback, while for Senior Managers, the 360 Feedback methodology is applied.

Additional data of Performance Management may also be found in the ESG Data Pack.

Learning and development

Learning and development lie at the heart of Eurobank’s ethos, guiding the Group towards excellence and innovation within the dynamic landscape of responsible banking. In 2023, Eurobank remained steadfast in its commitment to nurturing diverse talent, fostering a culture of continuous learning and equipping the workforce with the essential future skills to thrive towards the organisation’s vision for Eurobank 2030.

Learning in numbers (2023):

• 5.88 learning days on average per employee Group-wide¹
• 521,464 learning hours Group-wide, including activities delivered to temporary employees and contractors
• 135,496 total participations in learning programmes Group-wide
• 83.9% of total learning activity in Greece was delivered online or through virtual live sessions
• 97.6% of Group employees participated in learning activities

The learning days metric for 2023 refers to all the countries Eurobank operates in and is calculated as the equivalent of 8 learning hours per day.

Bank and Eurobank Holdings in Greece.

Through comprehensive learning experiences, tailored workshops and a multitude of learning delivery methodologies, Eurobank cultivates an ecosystem where its employees are empowered to excel. Equal learning opportunities are the key for all its people –regardless of role and contract type (permanent, temporary, external associates, contractors, managers and individual contributors) – to build the skills they need and drive sustainable business outcomes.

Eurobank steadily continues to evolve the resources and channels that promote learning and growth, and encourages its people to take ownership of their career development:

• SAP SuccessFactors, the HXM Cloud platform through which the workforce in Greece and Cyprus have access to a wealth of learning content 24/7 via all smart devices.
• Partnerships with distinguished digital learning platforms, such as LinkedIn Learning, Microsoft LxP and Interskill, offering thousands of courses on cutting-edge technologies and business skills in demand.

Predominantly offering learning initiatives that bolster consumer financial protection – such as MiFID, Know-Your-Customer (KYC), Mortgage Credit Directive (MCD), fair lending and ethical sales practices, recognition of financial fraud and scams targeting consumers – Eurobank focuses on enhancing service excellence across all touchpoints.

To that end, in 2023, retail network employees from branches with the highest transaction levels with customers having disabilities had the privilege to attend a dedicated workshop, co-hosted with the Me Alla Matia NPO. The Eurobank people had the opportunity to familiarise themselves with best practices when accompanying a visually/hearing-impaired client or serving an autistic customer, and to elevate the quality of service to these clients, thereby fostering inclusion and accessibility.

In 2023, Eurobank invested more than €2.5 million in learning initiatives, ensuring employee upskilling, building leadership capabilities and strengthening expertise through an extensive range of certifications and professional qualifications.

Code of Conduct and Ethics (CoCE) – Eurobank places special emphasis on the vital aspects of its Code of Conduct, embodying the commitment to ethical standards and integrity in all facets of its operations. Through this programme, in 2023, over 7,200 participants delved into the core objectives of the Code of Conduct, gaining a comprehensive understanding of its principles and applications within their roles, while reinforcing their capacity to navigate complex ethical dilemmas with confidence.

Learning initiatives regarding violence and harassment in the workplace – Eurobank continually strives to promote a safe and respectful work environment. Therefore, a digital learning programme was introduced for all Group employees in Greece, aiming to equip people with the necessary knowledge and skills to identify, prevent and properly respond to instances of violence and harassment. In addition, separate virtual workshops were addressed to team managers, to provide them with practical knowledge to prevent such behaviours, while amplifying the effort towards nurturing an environment of mutual respect and dignity, where no one tolerates harassment in any form.

“This is how we hybrid” – A 3-module blended learning experience was launched to support all the Bank’s people in Greece who embraced hybrid working, so as to help them build crucial skills on how to be productive in the phygital world and overcome the challenges of working in hybrid format. Over 6,700 learning participations in various elements of this programme took place in 2023, generating valuable positive feedback.

ESG Thinking – Eurobank continued the successful ESG learning journey, launching the 3rd episode (“ESG & Me”) in 2023. This video-based learning module aims to provide the Eurobank people with the opportunity to realise how they can develop their own ESG-related philosophy and action in their daily lives, both as citizens and employees.

Academic and professional qualifications – In pursuit of promoting professional development, Eurobank proudly sponsors a range of degree programmes and professional qualifications for its workforce. This commitment empowers people to further expand their skills and expertise, ensuring they remain at the forefront of the financial industry. As an indication, within 2023, Eurobank supported a group of employees pursuing advanced education at prestigious institutions, such as the National and Kapodistrian University of Athens, the Athens University of Economics and Business, the University of Piraeus, and the University of Winchester. Additionally, several of its staff members received industry-recognised certifications, such as Chartered Financial Analyst (CFA) and Certified Anti-Money Laundering Specialist (ACAMS), thanks to Eurobank’s sponsorship programmes. Over the past 2 years, more than €220,000 have been invested in sponsorships of academic and professional qualifications for the permanent workforce in Greece.

Regulatory-related programmes – Adhering to regulatory standards and ensuring comprehensive compliance across all levels of the Group’s operations, Eurobank constantly prioritises regulatory-related learning activities. Considerable focus is directed towards:

• Certifications – The Bank consistently provides a range of learning solutions to facilitate employees achieve certification/re-certification of their professional competence in providing investment advice, insurance mediation, mortgage credit and small business banking. Over 1,500 new certifications were recorded in 2023, while 3,500 were re-certified.
• AML Learning – In 2023, more than 1,250 managers were assigned to attend a customised virtual-live workshop on AML, while 4,700 employees in Retail, CIB, Private Banking and selected central units attended a respective video-based webinar. These workshops aim to provide a common foundation and language among Business and Compliance, which represent the 1st and 2nd lines of defence in relation to AML. Moreover, they focus on raising awareness on financial crime risks for each line of business. The AML Digital Learning offering remains a requirement for all new recruits, indicating the Group’s commitment to ensuring maximum protection, mainly for its customers and the organisation.

Management systems training – Eurobank focuses on quality throughout its operations, and cares for its carbon footprint and social impact. At the same time, it remains committed to ensuring safety for its people and customers. To this end, it offers resources to help all employees acknowledge broad sustainability topics, such as quality management across the organisation, environmental change, energy efficiency, and health and safety.

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).

Empowerment programmes

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 programmes

Eurobank focuses on developing leaders who inspire, empower their teams and contribute significantly to achieving the Group’s strategy. Leadership development programmes focus on identifying conscious and unconscious biases, and further promoting an inclusive leadership style:

Lead.exe masterclasses – Since 2021, Eurobank has been offering a series of monthly executive masterclasses to the top 100 senior leaders. 2 Lead. exe masterclasses were completed in 2023, where Eurobank leaders were exposed to valuable insights and best practices related to thinking and acting strategically in a complex world, and to addressing cloud governance and data protection challenges and relevant risks.

Power Up – A management development programme addressed to 57 Retail Branch Network Area Managers throughout Greece was completed with the presentation of the group assignments to the Retail Network Executive Committee. The programme covered themes such as “Building change”, “Adopting habits that create value”, “Leading my team”, “Creating an inclusive environment” and “Creating a business plan”.

Executive coaching – Based on personal and business needs, Eurobank offers senior leaders the opportunity to receive executive coaching sessions, a powerful approach to leadership development, aiming to maximise their potential and ability to succeed at the highest level.

Succession planning

The Bank’s C-Level Succession Planning framework is assessed annually, following a structured and comprehensive process, according to the guidelines of the Bank’s Nomination and Corporate Governance Committee as well as its Board of Directors. The Bank has a C-level Succession Planning Policy in place to ensure executive bench strength for the C-level roles is aligned with the Group strategy, purpose and leadership culture, aiming to achieve business continuity and growth. C-level Succession Planning focuses on mobility of successors, while female representation is of outmost importance. In 2023, female successor representation increased to 27% at C-Level.

Eurobank also introduced targeted career discussions with high potential internal successors, with the discussion focusing on progress and goals in their current role, career aspirations and development areas. Key radar talented resources were identified and will be actively managed through the Group Talent Mobilisation programme launched in 2022.

Development Plans and Improvement Plans

Career development holds significant importance within the Group. To facilitate this, the Group uses both Development Plans and Improvement Plans, which encompass various functionalities associated with career progression. Through these mechanisms, employees work with their managers to create tailored Development Plans that align with their professional growth and career aspirations. Alternatively, an Improvement Plan can be crafted to outline a strategic path for enhancing performance and addressing areas requiring development. Both plans are designed to cultivate employee competencies and behaviours through targeted training and development initiatives, aligning their skillsets with their current roles or potential future positions.

Talent management programme

In 2023, the Bank concluded assessing and implementing the bank-wide Talent Management Programme, aiming at identifying, developing, retaining and effectively using a robust talent pipeline.

It has also designed and introduced a new segmentation for the talent pool, focusing on mobility as well as structured talent career discussions, and offering mapped next career moves to career-oriented talents. Talent development programmes aiming at upskilling and reskilling the talent pool run across the Bank.

PROSPER Class of 2022 & 2023

Our customised PROSPER Talent Development Programme continued in 2023, co-designed with the ALBA Graduate Business School to offer joint learning value. The Programme brings together business and academic perspectives, aiming to equip talented employees with future-proof leadership skills, and state-of-the-art knowledge and experience. 36 employees completed the 2022 Class, while 35 participants joined the 2023 Class.

Offering a diverse, inclusive and safe workplace

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Occupational health, safety and wellbeing

Employee, contractor and customer health and safety are a top priority for Eurobank. The Bank prioritised employee safety during the COVID-19 pandemic, complying with guidelines and implementing additional measures. 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. The Occupational Health and Safety Policy statement is publicly available.

Demonstrating its commitment to continuously improving working conditions and accident prevention, the Bank has included specific ergonomic guidelines in its General Safety Regulation, with tips on proper body posture while working to avoid strain and injuries.

All employees can access this information on the intranet (Connected) as well as in the Health and Safety e-learning section.

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 applies 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 Bank employees and activities.

With regard to premises, all network branches, 7 central buildings and the Nea Ionia complex are certified as per ISO 45001:2018 (covering 4,902 employees, representing 80% of all employees), aiming to gradually cover all Bank sites.

The number of total injuries recorded in 2023 was 3, based on to the European Statistics on Accidents at Work (ESAW)² Methodology, while the LTIFR (Lost Time Injury Frequency Rate) was 17.2.

Safety Engineers have prepared Occupational Risk Assessment Studies for all buildings, while the latest updates were assigned to a company specialising in this industry. These studies are updated at regular intervals, and following any modifications, refurbishments or renovations to the premises. All Occupational Health and Safety stakeholders meet regularly and decide on all regular and extraordinary issues, determining the implementation schedule.

All processes are audited by the inspections specified in the Occupational Health and Safety System, government audits (SEPE), safety engineers and workplace physicians, during 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 Unit, the onsite Safety Engineer or the Workplace Physician, in any manner, about anything they might notice that could pose a threat to their health and safety.

In all premises, certain employees have been named Safety Coordinator and Deputy Safety Coordinator. The responsibilities of the Safety Coordinator and the Deputy Safety Coordinator include their obligation to immediately notify the competent officers of any work-related risks and submit regular written reports regarding the current situation at the premises they are responsible for. The Bank does not tolerate working conditions that could lead to injury or threaten the health of its employees.

The processes for investigating work incidents include immediate notification of the competent and involved Units 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 all the competent government bodies (SEPE etc.). Information is also available to all employees through the Health and Safety mail account.

²The ESAW Methodology excludes accidents at work that occurred outside the workplace as well as accidents with an absence of less than 3 days.

Prevention services

In the area of prevention services, the Bank:

• Runs 7 fully equipped infirmaries in Attica and Thessaloniki, where associated physicians offer clinical services, medical advice and provide prescription services to employees free of charge.
• Offers regular medical check-ups to all employees. In 2023, a total of 535 employees had a check-up performed.
• Coordinates a Blood Bank, ran by Eurobank staff, to meet the needs of employees and their families for blood. In 2023, 6 blood drives took place and 271 blood units were collected, while 121 blood units were made available to patients, following employee requests to meet personal or family needs.

Support services

To efficiently address any personal problems or emergencies, Eurobank has 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 every day until 23:00, to get support in handling workplace or family-related problems or any other situations they might be preoccupied with.

Supporting employees and their families

Eurobank has a modern benefit 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 through the Bank’s Occupational Fund.
• 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.
• Annual allowance for parents who have more than 3 children.
• Discounted rates for the Bank’s mortgage products and services.

Wellbeing and work-life balance

In 2023, Eurobank designed and introduced its first wellbeing programme, myPROSPERITY, which aims to support employees facing daily challenges in their personal, family and professional environment.

The myPROSPERITY support framework was designed to cultivate a more humancentric work environment and, therefore, help employees listen and be heard, feel better and lighten the burden they carry in their daily lives, aspiring to be a point of reference for all Bank employees.

In this context, the myPROSPERITY programme operates on 4 key pillars:

• Developing new habits that help employees improve their physical condition (For my body).
• Developing new personal skills that improve their emotional endurance, whether they are single, partners, parents or caregivers of their loved ones (For my soul).
• Supporting them in times when they are riddled with concerns and pressure, strengthening their ties with their social environment, giving back and empowering them (For my community).
• Providing a sense of security regarding the management of their financial future (For my future).

The objective is to offer fresh perspectives to uplift the mood, morale and physical wellbeing of employees, thereby fostering resilience. These pillars centre around themes directly linked to wellbeing and mental health, addressing everyday stresses.

As part of this initiative, employees eagerly participated in 8 online myPROSPERITY Talks, delivered during working hours, delving into contemporary topics. Additionally, the employees had access to articles and podcasts, via internal channels, that not only inspired and informed them, but also equipped them with new skills, empowering them to fortify their emotional resilience.

At the same time, Eurobank extended the operating times and days of the existing Mental Health Employee Assistance Helpline for all its employees, from Monday to Sunday, including holidays, from 15:00 to 23:00. The Helpline operates completely confidentially and without any financial burden. The dedicated advisers from HELLAS EAP guide and support the Bank employees on a variety of relevant topics, such as stress management at work, emotional resilience, family tensions or addiction issues.

Eurobank also 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 more than the legal requirements, unpaid parental leave, paid leave for single-parent families, paid leave to adopt a child, paid parental leave for parents with disabled children, paid family/care leave for medical reasons.
• 1 working hour less per day to employees with certified disability equal to or more than 50%.
• Measures to help employees keep their schedule within their working hours and promote their work-life balance, i.e. by sending out emails as reminders to clock out on time, in compliance with regulatory requirements.
• Hybrid Work Model up to 3 days from home : 81% of middle or back office employees have opted for Hybrid Work Model via contractual agreement in accordance to Eurobank's Hybrid Work Policy.
• The opportunity to the majority of employees to choose their working hours from a range of options, typically within a 2-hour span, in order to better accommodate their needs.

Rewarding, entertaining and fostering family relations

“Aristouchoi”, Rewarding Top Students – Eurobank values education highly and recognises the importance of rewarding exceptional academic performance. In line with this, it has launched a merit-based reward programme for top-performing students, known as “Aristouchoi”. The programme awards monetary prizes to both the employees and their children who have achieved outstanding results in secondary school or higher education. Eurobank also extends this recognition to those who are pursuing postgraduate degrees or PhDs. Over the past 21 years, Eurobank has presented awards to more than 3,500 deserving students. In 2023, following the relaxation of COVID-19 pandemic restrictions, a live event was organised, attended by approximately 1,000 individuals, including members of the Top Management, executives and parents. At this event, 356 awards for the 2021-2022 school/academic year were proudly presented.

Christmastime activity for kids – Eurobank gave €30 gift vouchers to more than 1,637 children of employees aged under 6. It also organised a Christmas Art Contest in partnership with the Museum of Greek Children’s Art, inviting employee children aged 4-16 to participate. 485 children took part in the contest, titled «Santa Claus and Climate Change | Caring for the Planet’s Wellbeing – Dreaming of a Better World» and over 2,400 employees voted to select the Bank’s Corporate Christmas Card from a shortlist of 50 drawings. To further encourage creativity among employee children, Eurobank also hosted 2 Online Christmas Art Workshops for children aged 5-8 and 9-12, led by professional artists and teachers, with 300 children from all over Greece participating. It also offered tickets to 200 children of employees for 2 family theatre shows.

Summertime activity for kids – During the summer of 2023, Eurobank launched the new version of its Summer Camp Programme for 600 children of employees aged 3-16, for the 2nd consecutive year. Each employee chose the summer camp for their kids and received a €200 voucher. These camps provided a fun and creative outlet for children while their parents could take some load off their daily schedule.

Theatre, opera, ballet and books – Eurobank offered tickets to 1,760 adults for 8 theatre, opera and ballet shows, giving them the opportunity to enjoy a rich cultural experience. This initiative aimed to promote and support the arts by granting individuals access to quality performances and fostering a greater appreciation for cultural expressions. Additionally, 90 €30 gift vouchers were distributed for the purchase of books, which kept the employees company during summer.

Benaki Museum – In 2023, the Benaki Museum opened its doors to Eurobank employees with free admission all year round, granting access to all buildings and exhibitions. Free entry for employees was extended to a companion, as well as to children and young people under 22 years old.

Special visits to museums – 100 Eurobank employees and their families gathered at the War Museum of Thessaloniki, where the collector, retired Colonel Vasileios Nikoltsios, unveiled his collection exclusively for them. Housed at the museum, the collection includes exhibits related to the recent and contemporary history of Greece.

Diversity, equity and inclusion

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Eurobank applies high standards of professionalism and policies against discrimination and exclusion, aiming at an open work environment for all, with respect to diversity, gender equality and individual rights. It fosters an inclusive culture, complemented by practices and policies that support Business Ethics and its ESG Strategy. To this end, it has introduced a Diversity, Equity and Inclusion Policy , outlining the Bank’s corporate values, principles and commitments.

Additionally, the Bank showcases its commitment to Corporate and Social Responsibility through initiatives that improve the stakeholders’ ability to live free from gender/sexual/ethnic/racial discrimination and ageism, and for vulnerable groups to live and prosper free from discrimination.

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, and has introduced a relevant Workplace Violence and Harassment Policy. 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.

Bloomberg Gender Equality Index (GEI)

Participation in the Bloomberg Gender Equality Index for the second consecutive year in 2023 underscores Eurobank’s dedication to promoting responsible development without discrimination, emphasising the integration of the Diversity, Equity and Inclusion principles, alongside broader ESG considerations, across the organisation. Eurobank is very proud to be among the 484 companies worldwide and the 5 companies in Greece to be included in the international 2023 Index.

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 employee advancement 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 all aspects of employee life cycle.

However, the Group adopts a unified remuneration management approach and a common pay framework across all positions and roles, applying the job evaluation methodology which links pay to role accountability.

Therefore, salary variation depends heavily on the distribution of the two genders on the job matrix. A closer look at the per-quartile analysis of the gender pay-gap ratio revealed less than a 5% difference from the lowest 25% of data to the highest 75%. All in all, more must be done across all levels, especially in senior management roles.

The Bank achieved all its targets for 2023 regarding Diversity, Equity and Inclusion.

Diversity and inclusion initiatives

Eurobank is committed to cultivating a workforce that mirrors the communities it serves and the global profile of the organisation. In pursuit of fostering a culture of diversity and inclusion, the Bank undertook a series of initiatives in 2023, benefiting both its employees and the wider ecosystem:

Women in Banking (WiB) – As part of its commitment to Diversity and Inclusion, the Bank introduced the 2nd Season of Women in Banking (WiB) – Transforming Leadership in 2023, following the highly successful and award-winning 1st Season. WiB is a programme aimed at empowering women within Eurobank to advance to higher leadership roles, drive transformative change within the organisation, and advocate for an inclusive and equitable work environment. Designed by and addressed to talented women, this programme integrates mentoring with learning through interactive workshops, virtual masterclasses, gaming and various engaging activities.

The initial 2 seasons of WiB concluded with resounding success, encompassing 2,200 hours of educational programmes and 980 hours of mentoring sessions.

The collaboration among participants from the 1st and 2nd cycles, comprising 120 mentors and mentees, culminated in the formation of a vibrant and influential community within Eurobank. This community aims to foster social connections, expand professional networks within the Bank, and enhance professional growth through knowledge and idea exchange. The WiB Community has already undertaken several initiatives with the objective of maintaining its active presence and generating a positive impact on its members, other female colleagues within Eurobank and the broader organisation.

WiB not only serves as a cornerstone for women’s empowerment, but also plays a pivotal role in championing diversity and inclusion, cultivating a workplace founded on acceptance and mutual respect. With a forward-looking approach and unwavering dedication, the WiB community is spearheading endeavours to empower women and foster a more inclusive leadership landscape.

the Boardroom – In a bid to promote female empowerment and equal opportunities, Eurobank proudly was the first bank in Greece to sponsor «the Boardroom». With a diverse membership spanning 180 countries and 32 nationalities, the Boardroom is dedicated to promoting gender equality on corporate boards. By providing training and networking opportunities for women already in managerial roles within their respective organisations, the initiative aims to prepare them for board positions.

Eurobank actively encourages its employees and clients to embrace this opportunity. Eurobank’s female members successfully concluded the inaugural season in 2023 and are poised to commence the 2nd season in 2024, marked by a series of strategic initiatives.

International Women’s Month 2023 – With the key message #EmbraceEquity, the International Women’s Day was celebrated extensively throughout March. The initiatives undertaken aimed to educate and empower female employees on pertinent issues of broader significance.

Internally, a series of inspirational talks were held to inform, empower and raise awareness among all Eurobank employees. Additionally, employees actively participated in promoting equality by posing in the «crossed-arm embrace» position, symbolic of the International Women’s Day 2023. These images were shared internally and externally to amplify the message of embracing diversity, equity and inclusion. Furthermore, a creative internal competition allowed Eurobank’s female employees to showcase influential women along with their favourite quotes on the internal communication platform, Yammer. The top 3 posts with the most likes were awarded a wellbeing treatment.

The impactful message of the International Women’s Day extended to external communication channels, with unwavering support from senior management. Notably, Eurobank’s commitment to the International Women’s Day was exemplified by a video message from Mr George Zanias, the Chairman of the Board, extending well-wishes to all women within Eurobank. Moreover, Eurobank’s 3 Deputy CEOs engaged in a dialogue with Kathimerini newspaper, centred around the theme «Embracing Equality».

As part of its ESG Strategy, Eurobank is committed to launching further initiatives over the next year, such as:

• Introduce DEI awareness training and a DEI training programme for managers
• Promote STEM among women, focusing on initiatives concerning Women in Technology
• Enhance generational diversity

Listening and communicating with employees

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Information, inclusiveness, collaboration and creation of 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.

Conducting the WeSay 2023 survey

In 2023, amidst its transformation journey, the Bank ran an internal all-employee engagement survey. The WeSay 2023 survey was conducted fully digitally over a period of 2 weeks, seeking employees’ opinions on various issues concerning the Bank, work processes and the work environment (such as compensation and benefits, job satisfaction, employee engagement and wellbeing, and corporate purpose). The survey was successfully completed with an exceptionally high participation rate of 83% across the Group.

Promptly, and in collaboration with external consultants, the organisation delved into the analysis of the results and processed them at both Group and individual Unit level for Greece and Cyprus. The survey findings were studied thoroughly, and strengths and areas for improvement were identified, shaping Eurobank’s next steps accordingly.

Improving employee experience

As part of Eurobank’s digital transformation strategy, it was imperative to shift the role of HR from managing transactional, paper-based processes to pioneering the employees’ professional lifecycle within the organisation through true internal digitisation. With SAP SuccessFactors, Eurobank is building a technological infrastructure that is already embraced by its employees and is facilitating its transition towards a truly digital workplace. The Bank is engaging the power of cloud- based HR technology to broaden collaboration and communication capabilities, enhance information flow, and deliver engaging employee experiences.

Having completed a 10-module implementation of the SAP SuccessFactors HXM suite between 2018 and 2023, Eurobank’s aim was to simplify, redesign and digitise internal HR processes to create greater efficiencies, and become paperless, more extrovert and customer-oriented. Eurobank wanted to be able to offer a more personalised and engaging employee experience by increasing autonomy, accountability and work mobility. SAP SuccessFactors has been Eurobank’s partner and growing ally in this ongoing journey.

Improving employee engagement

Improving employee engagement is a crucial goal for Eurobank, seeking to enhance productivity, foster a positive work environment and retain top talent. In pursuit of this objective, throughout 2023, the Bank expended efforts aiming at engaging its workforce through various initiatives and communication campaigns. These meticulously crafted initiatives leverage all available communication channels, including Viber messages, screensavers, emails, videos, intranet and more. By prioritising employee engagement with 360-degree communication initiatives, Eurobank demonstrates its commitment to cultivating a supportive and motivating work environment, conducive to individual and organisational success.

Eurobank Running Team – In 2023, Eurobank established the Eurobank Running Team, a running team open to employees from across the entire organisation. The idea to create the Eurobank Running Team stemmed from the belief that physical activity, even in its milder form, is linked to a sense of wellbeing and health. The concept of teamwork and strengthening relationships with colleagues, along with the collective effort towards a common goal were essential components. This initiative aims to facilitate interactions among colleagues and foster a sense of community and inclusion within the organisation. During 2023, the Eurobank Running Team took part in the “11th Athens Half Marathon”, “B2Run Athens” and “40th Athens Marathon. The Authentic”.

Recognising and rewarding employees

As a way of recognising loyalty and contribution, Eurobank presents the Long-Term Contribution Award to employees who have served in the Group for 15 and/or 25 years. Eurobank values and appreciates the dedication and commitment of its employees, and this award is a testament to that.

Fostering dialogue and information

Connected intranet – Eurobank’s internal corporate intranet serves as a vital resource for the employees, keeping them informed on all strategic, business, HR and technology-related matters. It is a digital platform that promotes the Bank’s actions and initiatives, providing the employees with immediate access to important information. In 2023, the content of the intranet was maintained and updated, resulting in 8,037 users visiting Connected, with a total of 7,297,475 pageviews. On average, users spent several minutes (05:59) per session on the intranet. Additionally, to encourage internal social networking and the exchange of information and ideas, the Yammer platform is also available to the employees.

Leadership comms – To communicate its strategy and foster 2-way dialogue between the management team and the employees, Eurobank held meetings with the Management, with employees from all divisions participating, as well as 2 Senior Management meetings. At the same time, aiming to foster an open line of communication with the regional network, 4 onsite visits from Retail Management and 5 Top Management roadshows took place in regional markets across Greece. Strengthening the Bank’s profile, as a modern and attractive employer, amid a dynamic process of transformation both technologically and operationally, Eurobank also organised 2 CEO Breakfasts.

Support at work, HR4U – The HR4U contact centre stands by the Eurobank people daily. The centre responds to their requests and schedules all necessary actions to better serve them. In 2023, HR4U handled over 27,673 requests. Requests cover a broad range of topics relating to benefits and schemes, as well as to emergencies, such as blood or platelet requests for employees and/or their family members.

Labour unions

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It is the Bank’s policy to communicate with its employees both directly and through labour unions. The union with the most members is recognised as the employees’ official representative body in labour negotiations with the Bank’s Management. Bank employees are in principle (more than 99%) 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.

Eurobank commits to informing, consulting and negotiating, whenever needed and without discrimination, with employee representatives during decision-making processes and in the event of restructurings. The Bank’s Management cooperates with the unions, supporting scheduled work meetings, and aiming to foster dialogue and monitor developments in the work environment.

The topics covered by collective bargaining agreements include health and safety, remuneration, working hours / work time flexibility, training, career development, equal opportunities, absences/leave/illness and insurance issues.

Based on the Bank’s internal organisation, the trade union activity of the employees is their constitutional right and is exercised within the context of the existing legislation.

Legal trade union activity does not affect the employees’ employment status and development in any way, either positively or negatively, and any involvement of the Bank in said trade union activity is not permissible, unless and to the extent permitted by current legislation.

Employees can monitor and get informed about their trade union rights, as well as the activities of associations, through various communication channels of their Union and the Greek Federation of Bank Employee Unions – OTOE (e.g. websites, emails, notices, labour rights guides, codification of collective agreements).

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Eurobank is an innovator when it comes to initiatives and Corporate Social Responsibility (CSR) activities that support innovative entrepreneurship, foster the sustainable growth of small and medium-sized enterprises(SMEs) both national and international and reinforce the outward-looking potential of Greek companies, with a view to promoting effective entrepreneurship and improving the quality of key business sectors through innovative services.

Innovation Centre

The Innovation Centre provides focused innovation to the Bank, aiming to create new solutions, eliminate pain points, and remain relevant in the digital age. It is involved in several innovation FinTech programmes in Greece as a startup mentor. Through its Innovation Lab, it promotes entrepreneurship and intrapreneurship, and tests proofs of concept and MVPs.

For further information about the Innovation Centre, refer to the “Group Digital Banking” section, under “Business Overview”.

egg - enter grow go

In the area of innovative entrepreneurship, Eurobank – in partnership with Corallia, a unit of the Athena Research Centre that implements flagship programmes and targeted interventions focusing on the management of Clusters, Incubators and Entrepreneurship Programmes – introduced an initiative in 2013: the egg – enter grow go. This business accelerator offers entrepreneurs an integrated framework of business incubation, acceleration, and collaboration among startups. The 11th cycle commenced in 2023, continuing to support innovative businesses in 3 key areas: extroversion, financing and interconnection of businesses with the global market.

In the last 12 years, egg has become one of the most prominent business acceleration initiatives in the country. It has also substantially enhanced its reputation in Greece and abroad, and has become an industry standard in the Greek startup ecosystem.

Since 2019 egg has been consisting of 3 distinct and complementary entrepreneurship support platforms: egg pre – acceleration, egg Start-Up and egg Scale-Up.

egg pre – acceleration initiatives aim at supporting the academic community, connect research and innovation with entrepreneurship and support groups who want to immerse themselves in the principles of entrepreneurship. More specifically, through targeted pre- acceleration programs, egg provides the academic community (undergraduate students, postgraduates, researchers, teachers etc) with mentoring, guidance and training to connect them to entrepreneurship and the economic system. More precisely, egg introduced the female entrepreneurship – mini acceleration program designed for female researchers and female university students in STEAM technologies. The program, which was delivered twice (2) by egg in 2023, is a multifaceted approach that encompasses mentorship, skill-building and networking opportunities tailored specifically for female researchers and entrepreneurs in Greek Universities and Institutes. It empowers women to overcome barriers, seize opportunities and flourish in their respective fields.

egg Start-Up platform –This initiative is aimed at startups and entrepreneurial teams with innovative business ideas at various stages of development, including pre-seed, seed, and early stage development phase. It supports them in their business endeavours, assisting in their growth and accelerating the marketing of their product or service. Once the business teams have established a company to implement their business plan, they gain access to specific financial tools to receive financing based on their needs.

Financing is offered:

• In the form of microcredit through the Action Finance Initiative (AFI), in the context of the EaSI European programme.
• Through the special Bank programme for financing egg startups.
• Through private investment funds (venture capital funds).

Specifically, in 2023 Eurobank provided €150,000 in financing to egg companies.

egg Scale-Up platform – It is addressed to businesses with significant growth potential, which are looking to increase their growth and reach the next round of financing through their accelerated expansion.

The egg – enter grow go business accelerator has left its entrepreneurial and social mark:

• 1,200 individuals have been hosted at the egg.
• 350 business teams have been included in it.
• 200 business teams have created a legal entity to run their business.
• 149 egg businesses (with legal entities) had a combined turnover of €48 million.
• 55 egg companies have applied for patents.
• 77 egg companies have travelled to the largest technology ecosystems worldwide.
• €13 million have been invested in egg by Eurobank.
• 67 egg companies have received over €45.8 million in equity funding (investments from venture capital funds).
• 51 egg companies have received €3.3 million through Eurobank financing tools.
• €100,000 have been donated to NGOs by the egg startups.

During 2023, Augmenta, a company incubated at egg and specialising in agricultural technology, was acquired by CNH Industrial, one of the global leaders in the sector, at a $110 million valuation.

Tourism and Culture Cluster

With egg – enter grow go as the administrator, Eurobank supports the first Greek Cooperative Innovation Cluster in Digital Technologies in the Tourism and Culture Industries (Tourism and Culture Cluster).

The main purpose of the Cluster is to secure financial viability and achieve economies of scale and economies of scope in digital applications and technologies for Tourism and Culture. It also fosters an environment of collaboration and creativity, and encourages knowledge sharing and resource pooling among member companies, resulting in more efficient and sustainable practices.

The initiative incorporates innovative companies and other organisations based in Greece that promote innovation, research and networking, and are active in the wider digital tourism technologies and ICT sector. This approach aligns perfectly with the priorities set by the World Tourism Organization (UNWTO) and tourism organisations globally.

The objective of the Cluster is to digitise tourism and cultural products, maximising Greece’s competitive edge through the use of software and digital content technologies, smart mobile apps and other high-tech applications. These advancements will offer visitors new and enhanced travel experiences, aligning with the overarching goal of the initiative. Through the integration of innovative technologies, the Cluster aims to modernise the tourism sector, providing visitors with tailored, cutting-edge experiences, while ensuring Greece’s continued relevance and competitiveness in the global tourism market.

The “Development of innovative technologies and new generation of digital applications in tourism and culture” R&D programme has been successfully submitted to the Innovation Cluster CfP of the General Secretariat for Research & Innovation, with a total budget of €2.8 million, allocated to 6 ambitious collaborative R&D projects from 13 companies.

Growth Awards

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

The 7 Growth Awards ceremonies to date have awarded 44 of the most robust Greek enterprises. More than 2,000 guests attend the award ceremony every year, 7 internationally renowned speakers have been hosted and around 80 enterprises apply annually. The Award Committee consists of 20 distinguished individuals from the Greek business and academic arena.

Exportgate and extroversion initiatives

Eurobank aims at actively contributing 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 also focuses on supporting the extroversion of Greek businesses by encouraging new business initiatives.

With the support of 4 leading Greek export associations (Panhellenic Exporters Association, Greek International Business Association, Exporters’ Association of Crete and SEV-Hellenic Federation of Enterprises), Eurobank 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. With more than 5,500 participating Greek companies, it covers all major sectors of the economy. Exportgate members have online access to information for over 1,000,000 partners located in 200 countries.

2023 marked the 10-year anniversary since Exportgate’s launch and Eurobank scheduled a series of initiatives to celebrate this significant milestone and to essentially thank its valuable partners and members for being the greatest ambassadors in the development of its extroversion strategy.

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. Supported by international banks covering over 65% of global trade corridors, the TCA is the first e-business network enabling its members to identify partners easily, quickly and reliably around the globe by strongly investing in advanced AI technologies. The network is still expanding, with the most recent integration in the market of China, represented by the Bank of China.

Additionally, there is strong collaboration with Enterprise Greece, the official investment, and trade promotion agency of the Greek State, aiming at increasing export activity and at attracting foreign investments.

Through SEV’s extroversion initiatives (Export Ready Workshops and Doing Business Events), SEV and Eurobank have established powerful synergies offering end-to-end support to Greek businesses.

Internal ESG engagement and capacity building

Raising awareness among its people on a wide range of sustainability issues is a priority for Eurobank. To this end, it designs and carries out informational and educational programmes, as well as awareness activities.

Internal ESG capacity building

Internal ESG capacity building is a key element of Eurobank's ESG Operational Impact Strategy, featuring numerous initiatives centred on learning and engagement.

To foster a culture of responsible banking and raise awareness, the Bank continuously enhances its ESG upskilling initiatives, such as the “ESG Thinking” programme (see “Sustainability at Eurobank” section) launched in 2022. These programmes are designed to provide the Bank’s workforce with essential ESG knowledge and skills.

The Bank prioritises comprehensive training for employees on environmental, energy, and climate-change topics, as well as sustainability best practices. These initiatives aim to deepen the employees' understanding of climate change and its impacts, and educate them on sustainable practices and responsible energy consumption. Through ongoing training and development programmes, Eurobank ensures its employees are well-equipped to contribute to environmental sustainability, energy conservation and climate-related challenges. Moreover, the Bank promotes an environment of dignity and respect, wherein occurrences of violence and harassment are isolated and addressed accordingly.

In 2023, Eurobank expanded its educational resources to provide valuable insights into various ESG areas. Training initiatives included sustainable financing, AML, cybersecurity, first aid, sign language and digital talks, enhancing the overall ESG capabilities of the workforce.

The cumulative investment in ESG upskilling initiatives resulted in over 20,000 participations within 2023.

Additionally, the Digital Academy offered training on ESG topics such as “Energy Transition – Sustainable Buildings, Energy Efficiency and Autonomous Production” and “New Sustainable Tourism Model”, with active participation from Eurobank employees.

Internal ESG engagement

Connected site and communication – The Bank posts information on Eurobank’s intranet (Connected) about its Environmental Management System and Energy Management System, as well as other issues, such as the World Environment Day, World Water Day, International Volunteer Day etc. to raise awareness. Various articles were posted in 2023 regarding ESG-related issues, such as human rights and ISO management systems, as part of the ongoing updates to Eurobank employees. In addition, the findings of the Employee Transportation Survey for calculating related emissions (see “Environmental Management” section) were presented to employees to raise further awareness and engagement.

The Bank encourages the active participation of its people in energy saving. Through simple tasks, they can all reduce their energy footprint every single day. It assesses its branches and buildings in terms of energy consumption, informs its people of the assessment results, and asks them to propose ways to improve both their energy and environmental performance.

TeamUp – Eurobank strongly believes in giving back to the community. That’s why it is proud to support the TeamUp initiative, the employee volunteer programme that has been running since 2018. With a strong emphasis on purpose, the TeamUp volunteer programme provides opportunities for employees and their families to participate in volunteer actions.

During 2023, TeamUp actions focused on raising awareness among employees in relation to climate change, environmental risks and social issues, through a broad set of topics covering ESG factors. To date, nearly 1,300 of the employees have joined the programme, donating their time and efforts to 10 events, providing more than 3,450 hours of volunteer services.

In 2023, the volunteer team took the lead in several initiatives, demonstrating their commitment to making a positive impact in the community:

7th No Finish Line Athens (NFL) – 257 TeamUp volunteers took part in the 7th No Finish Line Athens Run, one of the biggest charity running and walking events in Greece and globally, held at the OAKA Olympic Complex. Eurobank’s team of volunteers covered a total of 2,452 km. For each kilometre ran or walked, No Finish Line donated €0.50 to the “Together For Children – Mazi Gia To Paidi” association.

Tree planting in Attica and Evia – In partnership with the We4all non-profit environmental organisation, Eurobank volunteers had the chance to participate in tree planting activities in Attica (Varympompi and Paiania). Additionally, TeamUp members gathered in Rovies, Evia, contributing to the reforestation of the area. Both initiatives aimed at restoring areas affected by wildfires.

Stream cleanup in Attica and Thessaloniki – The TeamUp volunteers collected more than 1,760 kg of waste during cleanup actions in streams in Attica and Thessaloniki. Specifically, in Attica, they collected over 460 kg in Rafina and Pikrodafni, while in Thessaloniki, at the Axios Delta and Chalastra, they collected over 1.3 tonnes of various types of waste, including plastic bottles, barrels, tires, fishing nets and even car parts.

Support for Make-A-Wish Greece – TeamUp members took over the role of a vendor and supported the Make-A-Wish Greece stands at the Golden Hall shopping centre, River West shopping malls and McArthurGlen Designer Outlets during the Christmas holidays. The volunteer team was encouraged to participate in the sale of seasonal items and gifts, and contributed to supporting the organisation’s mission.

Greece Race for Cure® 2023 – TeamUp members joined forces with 44,000 people (survivors, families, friends, employees, adults and children) in the centre of Athens on 1 October, to loudly convey a message of hope, solidarity and support to all women fighting against the disease.

External ESG engagement and capacity building

Eurobank has taken measures to assist stakeholders to assimilate ESG terminology, opportunities and applicability. Building ESG capacity for external stakeholders, and particularly for clients, is an integral part of the Bank’s ESG Operational Impact Strategy.

Digital Academy for Business

Eurobank actively supports Greek businesses in their digital and sustainability transition, through a groundbreaking CSR initiative, constituting a catalyst for business transformation and success.

Since 2019, the Digital Academy has been offering a transformative learning experience, tailored to the evolving needs of businesses in the digital age. With a deep commitment to fostering digital literacy, innovation and entrepreneurship, the Academy stands as a beacon of excellence in capacity building. By integrating expert guidance from its partner ecosystem and real-world applications, it empowers businesses to thrive in their digital transformation journey. The platform provides free access to webinars, articles, studies, survey reports, best practices, tools and phygital workshops that meet the specific needs of businesses in various industries and under different market conditions.

The mission of the Digital Academy is to inform businesses and prepare them for the timely and effective transition to the modern digital world. It adopts an extroverted development model that is aligned with ESG priorities and contributes to the transition of businesses towards green economy and sustainable development.

The impact and recognition of the Digital Academy is evident from the exponentially increasing number of members, exceeding 4,000 in 2023, effectively doubling its member base compared to 2022, while the 19 workshops so far have attracted more than 2,000 participants in total. The members’ feedback exemplifies the strong need for the Digital Academy to deliver tailor-made and targeted content for businesses. Additionally, the possibility to access online all workshop presentations and recordings has upgraded the members’ overall experience.

ESG stream workshops in 2023

Energy-efficient buildings and energy self-production (online event, 100 participants) – Executives from Greek and international businesses and institutions shared best practices on how to limit the energy footprint of buildings. The workshop also focused on the value of green building certifications for the real estate business, addressing the emerging challenges of the sector as a result of the market trends towards energy-efficient and low-emissions buildings.

Sustainable development in the Tourism industry (physical and online event, 200 participants) – Supported by SETE, the workshop gave participants the opportunity to discover how local businesses can benefit from a sustainable development model, by integrating ESG best practices in their operating model. The workshop focused on the business opportunity of sustainable tourism, as part of the market trend towards quality services, and the contemporary expectations of travellers, as presented by leading operators and sector experts. It also addressed crucial ESG topics such as inclusivity, accessibility and environmental management.

Digital Transformation stream workshops in 2023

Naxos Smart Island project by Amazon Web Services – AWS showcased the financial, social and environmental benefits for local businesses through AI and cloud computing use cases.

Cybersecurity risks (2 online workshops) – The workshops highlighted the latest trends and risks that impact digital life and how businesses and remote workers can be effectively protected against such risks.

e-Commerce series – The successful e-Commerce workshop series with EY was relaunched, covering all the fundamental and advanced tools and steps required for any business to develop its e-Commerce strategy.

POS connectivity – Triggered by the upcoming tax updates in the Greek market, Softone Group delivered a highly informative workshop to Digital Academy members on the latest changes in POS connectivity.

Operational excellence stream workshops in 2023

Corporate treasury – Continuing the successful synergy with the Hellenic Association of Treasurers, the workshop focused on various aspects of corporate treasury. Senior treasury executives presented to Digital Academy members the different functions of a modern treasury and how it can add value to the strategic planning of every business, and shared best practices and trends on useful tools and methodologies.

Other activities

On top of its capacity building initiatives, the Digital Academy continues to actively support global business events as following:

• Eurobank acted as a platinum sponsor of the 3rd International Summit HAT that took place in September 2023.
• Eurobank actively supports and promotes workshops, studies and reports organised by SEV-Hellenic Federation of Enterprises, based on the strategic partnership with SEV. One of these was the survey conducted by SEV’s Observatory for Digital Transformation on the digital maturity of businesses, aiming to map the needs, priorities and challenges faced during their digital transition.

The Digital Academy will continue to support the digital evolution journey of businesses with up-to-date content and targeted workshops, addressing modern business needs, technology trends, as well as ideas stemming from its member base. Plans for 2024 include events focusing on new ESG regulatory requirements (CSRD) and cooperation with relevant institutions and ESG ecosystems.

ESG Insight

Responding to the need for continuous stakeholder engagement on ESG issues, Eurobank created the "ESG Insight” newsletter, with a view to regularly informing its stakeholders (internal and external) about the Bank’s sustainability efforts.

The ESG Insight content is selected from a variety of topics, including regulatory framework changes, policies and commitments, operational impact, ESG products and services, ESG frameworks, socio-economic and community engagement initiatives, awards and certifications, as well as employee engagement initiatives. ESG Insight is issued 3 times a year and features interviews with Eurobank executives who promote sustainability, news relating to ESG developments and achievements, articles on sustainability and metrics of Eurobank’s ESG performance.

The newsletter was launched in 2023 and is distributed over various channels, including Eurobank’s LinkedIn page and the internal Connected portal.

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Eurobank is continuing its strategic initiative to address the demographic challenge, one of the most serious problems that Greece will face in the near future, with a financial and social impact. The Bank’s initiative in this direction (Moving Family Forward) involves a wide range of actions for supporting new families in their effort to have one or more children, also aiming at setting the demographic issue higher in the public dialogue agenda.

Eurobank has completed 21 years of continuous presence in the Education sector, mainly through the Moving Education Forward initiative, as well as other actions, such as targeted scholarships.

Meanwhile, the Bank has launched several resilience and recovery initiatives, as well as actions to support vulnerable social groups, especially children and young people. With its sights set on the future, Eurobank has been long supporting and contributing to the promotion of sports, culture and corporate volunteering.

Demographic issue

In 2023 Eurobank continued to reinforce its actions to tackle the demographic issue in Greece. The initiative focuses on the remote eastern regions of Greece: Evros, the North Aegean islands and the Dodecanese (prefectures 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.

Through Moving Family Forward and the NGOs that partnered with the initiative, 20 babies were born with free assisted reproduction, baby care packages were donated to new parents in above mentioned geographical areas, and free psycho-educational seminars were offered to parents and teachers.

Moreover, through Eurobank funding, teachers, such as a robotics teacher, a musician and a speech therapist, were placed at very small remote islands with a view to meeting the residents’ needs for such services for children.

For yet another year, Eurobank sponsored the “Demographic 2023 – Time to act” annual conference, before the Prime Minister of Greece, steadily showcasing the significance of the demographic issue in the public dialogue agenda.

Education and excellence

Supporting education is a key pillar of Eurobank’s Corporate Social Responsibility, with actions that reward excellence and actively assist the new generation by offering opportunities for learning and successful entry into the job market. Rewarding fair play and the continuous effort to conquer new pinnacles, and showcasing academic performance and potential are an integral part of the Bank’s education and excellence programme.

Moving Education Forward

In 2023, the Moving Education Forward initiative completed 21 years of uninterrupted presence, and is one of the largest and longest-running corporate social responsibility initiatives in Greece, having awarded 22,572 top senior high-school students throughout the country to date.

The Moving Education Forward initiative demonstrates how the Bank showcases values such as knowledge and excellence, and contributes towards recognising the decisive role education plays in self-actualisation and collective progress. We reward the honours student who receives the highest score out of a scale of 20 in all 4 main subjects (from 72 points and above in total, excluding special subjects) examined during the university entry exams from every general or vocational senior high school in Greece. The initiative is supported by the Greek Ministry of Education and Religious Affairs and each honours student awarded receives a cash prize that is deposited in a bank account held by the graduate.

In 2023, 1,035 students were awarded in 8 events throughout the country. The best of the best from every educational region throughout the country were also awarded in 2023 by the President of the Hellenic Republic during a special event.

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, as a major sponsor of CTY right from the start, gave children in Evros the chance to get to know the programme, and offered 9 scholarships to students who passed the exams, so they could attend the summer educational programmes of CTY, which stands out for its ground-breaking and innovative teaching methods. 

Resilience and recovery

In 2023 Eurobank committed to contribute immediately and significantly to the restoration of the forests on the island of Rhodes, which were affected by the devastating wildfires last summer. To this end, it funded a specific study and flood protection projects in an affected forested area on the island.

In addition, after the devastating floods in Thessaly, the Bank announced its significant support to restore the extensive damages in the area. The total support of the 4 systemic banks added up to €50 million.

The Bank responded once again to the growing needs of the Public Health System, starting the construction of 6 negative pressure rooms at the Special Respiratory Infections Unit, Sotiria Thoracic Diseases Hospital of Athens, in 2023.

Find out more about the Moving Education Forward initiative, Scholarships at CTY Greece, Eurobank’s initiatives for resilience and recovery.

Corporate Responsibility

Historical Archives

In 2023 the Bank’s Historical Archives Unit (EHA) continued to acquire, sort and label existing and new material of historical interest from Bank units, systematically record its content, and organise its structure. It continued to enrich the Library with new publications and magazines. It served the research audience by offering a variety of archival materials.

It also continued to provide know-how on the organisation of bank historical archives and collections to EHA employees and graduates of the Department of Archival, Library and Information Studies, School of Administrative, Economics and Social Sciences, University of West Attica, through a 5-month internship. The EHA has also participated actively in the activities of the Hellenic Archival Society, the scientific/ professional association of Greek archivists.

Culture

Recognising the value of culture and its valuable contribution to the people’s intellectual stimulation, since its establishment, Eurobank has been supporting and showcasing remarkable cultural performances in Greece in the field of art, music, theatre and opera.

In this context, in 2023 Eurobank announced its partnership with the Benaki Museum, as a permanent sponsor of the exhibition programme, and supported the production of the Madama Butterfly opera at the Greek National Opera.

In the context of inclusion, Eurobank funded the signage for people on the autism spectrum in the Basil and Elise Goulandris Foundation, and distributed almost 1,700 theatre tickets to 12 charities, to give children and young people who cannot afford it, the chance to get in touch with art, and have access to quality entertainment.

P. Mantis and P. Kagialis Sailing Duo Sponsorship

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. Since 2016, Eurobank has been the Gold Sponsor of the Panagiotis Mantis and Pavlos Kagialis Sailing Duo.

In 2023, the team, sailing on the Velos yacht and sponsored by Eurobank Private Banking, ranked first and second 5 times, in 7 open-sea races in Greece. P. Kagialis along with his teammate Giannis Orfanos continued their preparation to qualify for the upcoming Olympic Games in the 49er category.

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Transparency, credibility, social responsibility and accountability are fundamental corporate governance principles within the contemporary corporate and social environment. These principles define the framework for achieving the Group’s objectives, govern its organisation, operations and activities, and reflect the values of Eurobank Holdings and Eurobank (Bank), while safeguarding the interests of shareholders and all other stakeholders. Furthermore, the Internal Audit Group (IAG) provides reasonable assurance in the form of an independent opinion, as to the adequacy and operational effectiveness of the internal control framework of the Bank and its subsidiaries.

Corporate Governance Code and Principles

In compliance with Article 17 of Law 4706/2020 for listed companies, which stipulates that listed companies should adopt and implement a corporate governance code, prepared by a recognised and reputable body, both Eurobank Holdings and the Bank, its main subsidiary, have adopted and implement the Hellenic Corporate Governance Code (Code) , posted on the Eurobank Holdings and Eurobank websites.

The Code ensures that the companies:

• Operate with credibility and in a responsible, just and transparent manner.
• Implement the Greek law and the international best practices on corporate governance.
• Safeguard the legal interests of anyone connected with the companies – shareholders, customers and human resources.

The Board of Directors and Committees

The Board of Directors

Eurobank Holdings and Eurobank are managed by their respective Eurobank Holdings Board of Directors and Eurobank Board of Directors (Boards), which are collectively responsible for their long-term success. The Boards exercise their responsibilities in accordance with the Greek legislation and international best practices, as well as with their Articles of Association and the legitimate decisions of the shareholders’ General Meeting.

The role of the Board is to offer entrepreneurial leadership to the Group within a framework of prudent and effective controls, facilitating the assessment and management of risks. The Board establishes the Group's strategic objectives, ensures the availability of essential financial and human resources for the Group to fulfil its purpose, and evaluates management performance. It also defines the Group's values and standards, ensuring that its responsibilities to shareholders and other stakeholders are acknowledged and fulfilled. All members of the Board are required to act in the best interests of the Group, aligning with their legal duties.

Find out more about the Eurobank Holdings Corporate Governance Principles and Eurobank Corporate Governance Principles. Information regarding the composition of the Boards and short CVs of their members may be found in the Eurobank Holdings Corporate Governance Statement. Detailed information regarding Board Activities in 2023 can be found in the Eurobank Holdings Corporate Governance Statement.

The Board Committees

The Eurobank Holdings and Eurobank Boards are assisted in carrying out their duties by Board Committees to which they delegate some of their responsibilities. In addition, the Boards approve their terms of reference, receive regular and ad hoc reports from them, and assess their performance as per the provisions of the Board and Board Committees Evaluation Policy.

Audit Commitees

The primary function of the Eurobank Holdings and Eurobank Audit Committees (ACs) is to assist the Board in discharging its oversight responsibilities primarily relating to the:

• Review of the adequacy of the Internal Control and Risk Management systems, and compliance with rules and regulations monitoring process.
• Review of the financial reporting process and satisfaction as to the integrity of the Financial Statements.
• External Auditor selection, performance and independence.
• Effectiveness and performance of the Internal Audit and of the Compliance function.

Board Risk Commitees

The Eurobank Holdings and Eurobank Board Risk Committees (BRCs) assists the Board in risk issues and ensures that:

• The monitoring of the overall actual and future risk appetite and strategy, takes into account all types of risks to ensure that they are in line with the business strategy, objectives, corporate culture and values of the institution.
• The risk management framework is appropriate and integrated in the decision-making process. The Committees also define the risk management principles.
• There are suitable methods, tools, models and data sources in place, as well as qualified and competent staff to identify, assess, monitor and mitigate risks.

Remuneration Committees

The Eurobank Holdings and Eurobank Boards have delegated to the respective Remuneration Committees (RemCos) the responsibilities to:

• Provide specialised and independent advice for matters relating to the remuneration policy and its implementation at Eurobank Holdings/Eurobank Group level and for the incentives created while managing risks, capital and liquidity.
• Safeguard the proper exercise of their duties and responsibilities, the efficient alignment of the personnel’s remuneration with the risks Eurobank Holdings / Eurobank undertakes and manages and the required alignment between Eurobank Holdings / Eurobank and the Group.
• Approve or propose for approval all exposures of Key Management Personnel1 and their relatives (spouses, children, siblings).

The Non-Executive Directors of Eurobank Holdings / Eurobank have the responsibility to approve and periodically review the Eurobank Holdings / Eurobank remuneration policy and oversee its implementation both at Bank and Group level.

Nomination and Corporate Governance Committees

The Eurobank Holdings / Eurobank Boards have delegated to the Nomination and Corporate Governance Committees (NomCos) the responsibilities to:

• Lead the process for Board and Board Committee appointments, including the identification, nomination and recommendation of candidates for appointment to the Board.
• Consider matters related to the Board’s adequacy, efficiency and effectiveness.
• Review the Group’s corporate governance policies, procedures and arrangements.

Board Digital and Transformation Committee

The Eurobank Board Digital and Transformation Committee (BDTC) is a consultative body that reviews proposals, and gives its strategic advice and guidance on such proposals related to the Group’s digital technology, innovation, transformation and cybersecurity, to contribute to achieving the vision and strategic goals of Eurobank.

¹Key Management Personnel includes the Bank’s Executive and Non-Executive Board of Directors members, Executive Board (ExBo) members, General Managers non-members of the ExBo and the Heads of Group Internal Audit, Group Compliance and Group Risk Management.

Information regarding the Board Committees may be found on the website, under Eurobank Holdings Board of Directors and Eurobank Board of Directors.

Board of Directors and Board Committees

Eurobank Holdings and Eurobank

Information regarding the Eurobank Holdings Board of Directors and Eurobank Board of Directors Diversity Policy may be found in the Eurobank Holdings Corporate Governance Statement.

The Management Committees

Given that there is neither a relevant regulatory requirement nor a business need, the CEO has not established committees at Eurobank Holdings level. As regards the Bank, the CEO establishes committees to assist him, as required, in discharging his duties and responsibilities. The most important Committees established by the CEO are listed below.

Executive Board

The Executive Board (ExBo) manages the implementation of the Group’s strategy, in line with the Board’s guidance.

Strategic Planning Committee

The purpose of the Strategic Planning Committee (SPC) is to assist the Management in planning, developing and implementing the Bank Group’s Strategy, and recommend to the Board certain initiatives in relation to the Bank Group’s Strategy.

Management Risk Committee

The main responsibility of the Management Risk Committee (MRC) is to oversee the risk management framework of the Bank. The MRC ensures that material risks are identified and promptly escalated to the BRC, and that the necessary policies and procedures are in place to prudently manage risk and to comply with regulatory requirements.

Group Asset and Liability Committee

The primary mandate of the Group Asset and Liability Committee (G-ALCO) is to:

• Review, approve, formulate, implement and monitor - as appropriate - the Group’s a) liquidity position and risk profile and its funding strategies and policies, b) interest rate guidelines and interest rate risk profile and policies, c) capital investments, as well as FX exposure and hedging strategy, and d) business initiatives and/or investments that affect the Bank’s capital, market and liquidity risk profile.
• Approve at a first stage and recommend to the BRC for final approval the respective country limits and the relevant policy/methodology (special attention is given for the approval / monitoring of the limits for countries where Eurobank has a local presence).
• Approve or propose – as the case may be - changes to these policies that conform to the Bank’s risk appetite and levels of exposure as determined by the BRC (and the BoD as the case may be) and Management, while complying with the framework established by regulatory/supervisory authorities.

Central Credit Committees (I and II)

The main objective of the Central Credit Committee I and II (CCCI) is to ensure the objective credit underwriting of relevant exposures of Greek corporate performing and private banking clients, in accordance with the Risk Appetite Framework and the Credit Policy Manual of the Bank, and in a way that balances credit risk and return on equity.

Troubled Assets Committee

The Troubled Assets Committee (TAC) is the Bank’s approval body responsible for providing strategic guidance and monitoring the troubled assets of Bank, ensuring independence from business and compliance with the regulatory requirements.

Products and Services Committee

The Products and Services Committee (PSC) is responsible for creating and supervising the governance framework for the products and services offered to Eurobank clients in Greece through physical and alternative channels, in accordance with the supervisory and regulatory requirements.

The PSC has established a governance framework for the products and services under its responsibilities, throughout their lifecycle, according to which financial and non-financial risks are assessed, taking also into account product/service's financial performance. The PSC implements a periodic review of all products and services to determine their continuation, modification or discontinuation.

Environmental, Social and Governance Management Committee

The primary mandate of the Environmental, Social and Governance Management Committee (ESG ManCo) is presented in the ESG Governance and operating model section.

Regulatory Matters Committee

The purpose of the Regulatory Matters Committee (RMC) is to coordinate the actions required to improve the Bank’s compliance to existing or new regulatory requirements. In this context, the Committee monitors projects to address the impact of new regulatory requirements as well as control improvements identified by the Bank’s control functions, external auditors and regulators.

Special Handling Committee

The main objective of Special Handling Committee (SHC) is to assess credit requests for the Non Performing Exposures (NPEs) that are not handled or do not fall within the conferred authorities of DoValue Greece SA.

Ethics Committee

The task of the Ethics Committee is to ensure that the Bank’s Code of Ethics is observed, to interpret and constantly enrich it, as well as to contribute, generally, to the formulation of a code of values with which the behaviour of the officers and personnel of the Bank, as well as that of third persons that regularly collaborate with the Bank, must comply.

Find out more information regarding the Eurobank Management Committees.

Nomination, Remuneration, Evaluation

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Remuneration Policy and Framework

The Bank has established a Remuneration Policy which is applicable to all employees, and which covers their total remuneration. The Policy is integral to the Bank’s commitment to attract, engage and retain its employees. Moreover, the Bank has established its Remuneration Framework, which is competitive and is embedded in the Remuneration Policy. Information regarding the Policy and the Framework can be found on the Eurobank website.

Remuneration indices may be found in the ESG Data Pack.

Board Nomination Policy

(applicable to Eurobank Holdings and Eurobank)

The Board Nomination Policy sets out the guidelines and formal process identifying, selecting and nominating candidates for the Board. The Policy ensures that such appointments are made:

• In accordance with legal and regulatory requirements.
• With due regard to the expectations of the major shareholders.
• On the basis of individual merit and ability, following a best practice process.

Board and Board Committees Evaluation Policy

(applicable to Eurobank Holdings and Eurobank)

The Board and Board Committees Evaluation Policy establishes the principles, framework and process for the annual assessment of the effectiveness of the Board of Directors (Board) and the Board Committees.

Board of Directors’ Remuneration Policy

Eurobank Holdings has established a Board of Directors’ Remuneration Policy, in line with relevant requirements of Law 4548/2018. Remuneration indices may be found in ESG Data Pack.

Internal Audit

The role of the third line within Eurobank’s governance and organisational structure is allocated to the Internal Audit Group (IAG), which is an independent, objective assurance and consulting function designed to add value and improve the operations of Eurobank.

Within Eurobank’s organisational structure, the IAG is independent of Bank units with operational responsibilities. A direct reporting line to the Audit Committee (AC) strengthens the IAG’s function and safeguards its independence. The Chief Audit Executive reports functionally to the AC and administratively to the Chief Executive Officer of Eurobank. The IAG provides reasonable assurance, in the form of an independent opinion, as to the adequacy and operational effectiveness of the internal control framework of Eurobank, including governance, risk management and adherence to the risk appetite framework. The scope of the IAG’s activity includes the operations of Eurobank as a whole (Group).

The IAG adheres to the Institute of Internal Auditors (IIA) mandatory guidance including the Core Principles, Definition of Internal Auditing, Code of Ethics, and International Standards for the Professional Practice of Internal Auditing (Standards).

In recent years, the IAG has recognised Environmental, Social and Governance (ESG)/ CR&E internal controls and risk management framework as an area of focus and has taken several relevant initiatives and actions within its strategy. These aim to ensure adequate coverage of the area, in line with the Bank’s strategy, as well as industry and regulatory developments. Further details on the ESG/CR&E pillars that the IAG strategically focuses on are provided in the Consolidated Pillar 3 Report for the year ended 31.12.2023.

The IAG documents the outcome of audits in audit deliverables that are used to provide information to several recipients (e.g. AC, Board Committee, Senior Management, external auditors). The IAG attends the Audit Committee meetings to present a summary of its activity and highlight key issues, at least on a quarterly basis.

Information regarding Independent Assessment may be found in the Eurobank Holdings and Eurobank websites.

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Cybersecurity risks continue to impact the financial industry around the world, as the number and complexity level of cyberattacks have increased significantly.

Cyberattacks, digital fraud, compromised customer data and personal data breaches are part of today’s everyday reality, especially in the financial/banking sector, due to the evolution of new technologies, the increasing use of digital channels for financial transactions and the increased sophistication of cyber criminals.

Eurobank, its customers and its third-party service providers cannot be an exception to that.

Cybersecurity

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 everincreasing and constantly changing cyber threats. Notably, Eurobank’s cybersecurity strategy is based on a multi-faceted defence approach, according to a Predict, Prevent, Detect and Respond control framework.

The Bank has adopted the 3 lines of defence (3LoD) model to ensure that risks and controls are properly managed on an ongoing basis. In the 2nd 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 (Board) and Executive Board (ExBo). The CISO also regularly updates the ExBo, the Board Risk Committee and the Board to provide objective assurance to them on the effectiveness of Eurobank’s cybersecurity controls.

During 2023 Eurobank successfully managed all cybersecurity attacks, and as such there were:

• No data breaches involving personally identifiable information (PII).
• No business disruptions.
• No monetary losses.
• No cybersecurity incidents that needed to be reported to Authorities.

In 2023, Eurobank also continued to proactively invest in 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.

During 2023 Eurobank:

• Continued to ensure its compliance with the evolving regulatory and legal requirements.
• Continued to strengthen its cybersecurity capabilities for new digital products/ services, teleworking and cloud technology adoption, as well as to address the ever-growing threats (i.e. Ransomware) and maintain compliance with evolving regulatory 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 has been extended to also cover the Bank’s cloud computing operations.
• Continuously educated employees and customers on emerging cyber threats and online fraud scams, with various methods.
• Regularly performed risk assessments, penetration tests and vulnerability assessments, and timely addressed global 0-day cybersecurity vulnerabilities on critical infrastructure.
• Evaluated the cybersecurity posture of outsourcers for IT services.
• Applied multi-tiered Endpoint Protection Detection Response protection, filtered emails and web content, DDoS protection and SIEM services to detect suspicious activities.
• Continuously enhanced its threat intelligence capabilities through use of state-ofthe-art technologies/services, and collaboration with peers from other Banks, as well as the Hellenic Police and the National Cyber Defence Agency.

Personal data protection

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 in 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. As part of its GDPR and personal data protection obligations, Eurobank 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 available online and in hard copy through its branches. This privacy notice includes information on the:

1. Type of personal data the Bank collects and from which sources
2. Reason why the Bank collects data and for which purpose
3. Recipients of the data subjects’ data
4. Whether the Bank is entitled to transfer the data subjects’ data to third countries (outside the EEA)
5. Length of time the Bank shall maintain the data subjects’ personal data
6. Data subjects’ rights are with regard to the protection of their personal data
7. Way the data subjects can exercise their rights
8. Data Protection Officer
9. Way the Bank protects the data subjects’ personal data

Moreover, this privacy notice is incorporated in several contractual or other documents issued by Eurobank. This notice is updated in accordance with legislative developments and when the processing of personal data by the Bank is altered in any way. Furthermore, the Bank issues supplementary 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.

In 2023, Eurobank renewed its ISO 27001 international security standard certification, which also covers the processing of personal data on the cloud.

The Bank continues to enhance its ability to ensure compliance with the applicable privacy laws. To this end, it:

• Has appointed a DPO who heads the Personal Data Protection Unit, 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 assists the DPO in performing their duties.
• Gets the DPO to actively participate in Eurobank projects, including projects on digital transformation and the provision of new products and services (privacy by design).
• Maintains a centralised Record of Processing Activities and carries out Data Privacy Impact Assessments on projects/products/processes related to personal data processing, for the purpose of analysing and minimising the risks to data subjects.
• Has prepared and issued the Personal Data Protection Policy, as well as other relevant guidelines which cover all operations and are regularly updated.
• Maintains policies and procedures that are designed to ensure compliance with applicable data protection legislation.
• 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 who might have access to Eurobank’s personal data, such as independent controllers, joint controllers and processors/sub-processors.
• 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 processing 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 its promotional activities.
• Notifies, as a data controller, the supervisory authority without undue delay and (where feasible) within 72 hours after having become aware of any personal data breaches, 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, Data Protection and Security 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 technologies and processes affecting user data.

During 2023, only 1 incident was reported to the Hellenic Data Protection Authority (HDPA). For this incident, corrective actions were taken immediately to mitigate the potential risk for the affected data subject. Over the same period, the Bank received and managed successfully 509 customer / data subject access requests (DSARs), all handled within the deadlines set out in the GDPR.

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Eurobank provides financial security by enforcing policies to combat fraud, corruption and money laundering, which are in compliance with international regulations for dealing with cases of violation of economic restrictions and sanctions, and by effectively managing potential conflicts of interest. The Bank has also set up an appropriate corporate governance system, with principles, roles, and committees that support transparency, equal treatment and integrity. It is committed to respecting and promoting human rights and avoiding unintentionally causing or contributing to adverse human rights impacts that may affect its employees, suppliers, contractors, clients and other parties directly linked to its operations, products or services.

Code of Conduct and Ethics

The Code of Conduct and Ethics highlights the importance Eurobank attaches to integrating principles in the way its people behave as professionals and the way they conduct business. The Code applies to every Eurobank staff member, irrespective of segment, level or job description, as a daily reference manual.

The Code of Conduct and Ethics acts as a regulatory framework for Eurobank and is complementary and supplementary to the existing legislation. Moreover, the Code is complemented by specific policies (i.e. Anti-Bribery and Corruption Policy, Conflicts of Interest Policy, Policy for Reporting Illegal or Unethical Conduct), which serve as a further point of reference for Eurobank staff.

Control and monitoring

The effective implementation of the Code of Conduct and Ethics is ensured through a series of measures and controls that include carrying out monitoring exercises, using systems, providing appropriate training to staff and having an appropriate body in place which reviews cases relating to the Code.

Compliance, as well as the other competent Eurobank control bodies, are authorised to conduct monitoring reviews and audits regarding compliance with the principles of the Code of Conduct and Ethics, across all levels and functions of Eurobank.

All senior management leads by example, applying the provisions of the Code of Conduct and Ethics with diligence and loyalty. In addition, they have the duty to communicate the values of Eurobank and inspire all employees under their responsibility.

Both the Code and any supplementary policies (e.g. Policy for Reporting Illegal or Unethical Conduct, Anti-Bribery and Corruption Policy, Conflicts of Interest Policy etc.) are distributed to 100% of the staff members, including the Board Members, as well as any individuals who offer advisory services or are employed based on fixed- term or project employment agreements. With reference to the Code of Conduct and Ethics, staff members confirm having read and accepted the Code through an electronic platform.

Compliance is also responsible for managing any questions that may arise as to the proper implementation of the Code of Conduct and Ethics. Any established violations of the provisions of the Code may be reported to the competent Eurobank bodies and can even lead to administrative or disciplinary action, including the staff member’s termination of employment. When staff members have concerns relating to ethical issues, they can contact Compliance, as well as other communication channels as described in the Code of Conduct and Ethics and in the Policy for Reporting Illegal or Unethical Conduct.

Training on the Code

Compliance provides training on the Code of Conduct and Ethics as well as on corruption and bribery issues, aiming to raise awareness and cultivate a strong culture of values and integrity within the Group. In addition, the induction of new recruits also includes training on these issues.

In 2023, a new digital learning programme on the Code of Conduct and Ethics and related areas was carried out, addressed to all staff 95% of staff and external partners completed the learning programme.

Within 2023, there were no:

• Confirmed incidents of bribery and corruption.
• Confirmed incidents in which employees were dismissed or disciplined for corruption.
• Confirmed incidents where contracts with business partners were terminated or not renewed due to violations related to corruption.
• Public legal cases regarding corruption brought against the organisation or its employees.
• Monetary losses from business ethics violations as a result of legal proceedings associated with insider trading, antitrust, anti-competitive behaviour, market manipulation or malpractice.

International regulations on economic sanctions

Eurobank has developed policies, procedures and monitoring mechanisms to fully comply with the current legislative and regulatory framework, and to deal with violations of international regulations, by identifying an economic entity / organisation / country associated (as the case might be) with terrorist activities, human trafficking, drug trafficking and arms trafficking, and prohibiting and interrupting it from carrying out transactions.

Pertinent training is also provided to staff, to understand and identify cases of financial sanctions and cases where a total or partial ban on economic activity is foreseen. In addition, staff, and authorised executives in particular, are encouraged to report all cases of financial offenses encountered.

Whistleblowing mechanism

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Eurobank operates based on high ethical standards, integrity, transparency and accountability. Its strategic commitment is to safeguard its reputation and clientele. For this reason, it is of primary concern for staff to act with honesty and a heightened sense of responsibility.

In this context, Eurobank applies the rule of zero tolerance in cases of fraud, corruption, violation of legislation related to money-laundering, and generally actions that cause material and reputational damage to Eurobank.

Eurobank has a Policy for Reporting Illegal or Unethical Conduct and a respective Policy Statement in place to facilitate its staff members and concerned third parties to submit reports – through recommended internal or external reporting channels – on any actual, attempted or suspected fraud or other unethical conduct, while eliminating any concerns that their report may result in adverse consequences for themselves.

Unit heads must ensure a work environment that makes staff members feel safe to communicate freely and to report possible issues that come to their attention. In any event, staff may contact the competent bodies to report issues or circumstances that could constitute:

• Violation of the law or other regulations
• Violation of the Code of Conduct and Ethics
• Violation of Eurobank policies
• Other forms of illegal, irregular, dishonest, unprofessional or unethical behaviour, including but not limited to theft, embezzlement, bribery and corruption, conflict of interest, money laundering and terrorist financing, misappropriation/destruction of assets, misuse of confidential information, ethical / psychological / physical / sexual harassment, fraud attempts, and transactions or conduct that could be interpreted as indications of fraud or attempted fraud.

According to the Policy for Reporting Illegal or Unethical Conduct, Eurobank provides protection against reprisal and keeps confidential the identity of those who have submitted information they know and consider to be accurate and true.

All staff members are encouraged to raise issues of concern and speak up when they suspect potential wrongdoing or are faced with conduct or situations that may raise ethical, legal or regulatory concerns.

Reports for such incidents may be submitted by email to ethicshotline@eurobank. gr, over the phone at +30 214 4058990 (24/7 all year round), or by post to 2-6 Pesmazoglou Street, 10559 Athens, Greece, to the attention of the Report Receiving and Monitoring Officer (RRMO).

All other internal parties that may receive reports of such nature (Group Compliance, Internal Audit etc.) should inform and forward the report to the RRMO.

During 2023, 13 whistleblowing reports were received, out of which 8 related to behavioural issues and the remaining 5 concerned matters of the Code of Conduct and Ethics and Group Policies. All reports were investigated and appropriate disciplinary actions were taken.

Conflicts of interest

Eurobank has established a Conflicts of Interest Policy and a Conflicts of Interest Policy Statement, to identify and manage situations that give, or may give, rise to actual, potential or perceived conflicts of interest, in accordance with local legislation and international best practices.

Conflicts of interest may arise when the personal, business or financial interests of a staff member deviate from the interests of Eurobank or key stakeholders (e.g. clients, shareholders, suppliers etc.). Eurobank recognises that proper identification and handling of transactions that occur between the Bank and related parties enhances transparency and prevents any conflicts of interest. This also ensures that its financial statements and reports to the regulatory authorities contain the necessary disclosures required by the International Accounting Standards and the applicable regulatory framework.

The Board of Directors is responsible for:

• Establishing an internal culture promoting compliance at all levels, including effective management of conflicts of interest.
• Ensuring the existence of an adequate Conflicts of Interest Policy.

When performing their duties, Board Members:

• Ensure they act with independence of mind.
• Proactively identify conflicts of interest and disclose such conflicts as required.
• Implement mitigating measures.

Disclosures of Board Member directorships outside the Group are included in the Annual Financial Report.

Anti-bribery and corruption

Eurobank shows zero tolerance towards bribery and corruption. To this end, an Anti- Bribery and Corruption Policy and an Anti-Bribery and Corruption Policy Statement applies to all Eurobank staff, aiming to prevent instances of bribery and corruption, and promote integrity within the business environment.

Eurobank provides ongoing training and briefing to staff on preventing and identifying bribery and corruption incidents. Through training modules and internal communication, staff awareness is raised on emerging risks when dealing with cases of bribery and corruption.

The Bank also systematically evaluates suppliers in order to mitigate the risk of bribery and corruption. Anti-bribery terms are also included in contractual documents.

Regulatory compliance

Group Compliance

Group Compliance is an independent function and reports functionally to the Board of Directors through the Audit Committee and for administrative purposes to the CEO. Group Compliance supervises the overall compliance function in the Group. Within this context, the Compliance Divisions/Units of the Group in Greece and abroad have a direct reporting line to Group Compliance. Group Compliance’s mission is to promote a sustainable compliance culture that encourages integrity through ethical conduct and commitment to compliance with the applicable regulatory framework and the international corporate governance standards.

Key developments in 2023 were:

• Expanding the Compliance Risk Assessment Framework, including coordination of the Compliance risk assessment activities in the areas of corporate governance and data protection.
• Introducing a Regtech solution for regulatory analysis and preliminary impact assessment (implementation initiated in 2022).
• Further calibrating the AML risk assessment process and enhancing the AML transaction monitoring system.
• Enhancing the TEKE and FATCA/CRS reporting processes, the PEP monitoring process and infrastructure, and the KYC documentation collection process and infrastructure.
• Launching an automated ML/TF risk assessment mechanism for financial institutions/banks, as well as additional scenarios in the correspondent banking transaction monitoring system.
• Developing scorecards for financial institutions, and a monthly Power BI activity report for correspondent banking.
• Offering continued support and monitoring the implementation of the AML e2e projects in Bulgaria and Cyprus (commenced in 2022).
• Implementing further actions to increase the effectiveness of MiFID controls.
• Participating in an advisory capacity in a bank-wide project for advisory products and services, and in bank-wide projects relating to bancassurance business, deposit products and payment services.
• Obtaining ISO certification (37002) on the management of the Whistleblowing system (new certification).
• Further revising the Policy for Reporting Illegal or Unethical Conduct and appointing of a Report Receiving and Monitoring Officer responsible for receiving and monitoring of reports received through the reporting channels for illegal or unethical conduct.
• Revising the Code of Conduct and Ethics.
• Developing a compliance control catalogue.
• Continuing initiatives for developing data analytics capabilities within Group Compliance and granularity of the Compliance Risk Appetite Framework.
• Finalising the GC skillset mapping and identifying development initiatives vis-à-vis the GC Target Operating model.
• Successfully completing digital learning programmes – such as specialist AML workshops by business line, and digital learning on Code of Conduct and Ethics – and completing of establishment of a dedicated space within the Bank’s intranet as part of the awareness initiatives.

The targets set by Group Compliance for 2023 were successfully achieved:

• Maintaining the percentage of at least 65% of the Group Compliance staff members holding professional certifications on issues regarding money laundering and terrorist financing, compliance, operational risk and related topics.
• Providing training on the Code of Conduct and Ethics and its complementary policies to at least 95% of the Bank employees and executives.
• Conducting training sessions on consumer protection issues, payments and consumer credit, as part of the Bank’s consumer protection actions. These sessions were: Directive (EU) 2023/2225 – Consumer Credit Directive II (CCD II); Financial services contracts concluded at a distance – DMFSD2; Mortgage Credit Directive 2 (MCD2); Payments package i.e. FIDA Regulation, the new Payment Services Directive (PSD3) and the Payment Services Regulation (PSR), Regulation on Instant Payments; Non-bank lending; Retail Investment Strategy for Bancassurance services; Accessibility Act (Law 4994/18.11.2022 on the accessibility requirements for products and services); Servicers Framework update; Digital Services Regulation (DSA); and EU ID wallet.
• Updating the Code of Conduct and Ethics, the Conflicts of Interest Policy, the Group Antitrust Compliance Policy and public statements.
• Providing training on antitrust issues to relevant personnel.
• Providing training on Consumer Protection issues, aiming to raise awareness and cultivate a strong culture of values within the Group.

As part of its staff development, Group Compliance maintained an ongoing training and certification programme for its resources.

Regarding 2024, Group Compliance intends to:

• Continue maintaining the percentage of at least 65% of the Group Compliance staff members holding professional certifications on issues regarding money laundering and terrorist financing, compliance, operational risk and related topics.
• Provide dedicated training courses to the Bank staff on Compliance-related topics, and specific training on consumer protection issues, through e-learning solutions.
• Assess the impact of the New AML Package and design an action plan.
• Implement a compliance risk assessment tool.
• Have an external consultant independently assess the compliance Risk Assessment (CRA) Methodology.
• Expand the CRA perimeter to cover areas outside GC mandate, such as prudential regulations, information security, outsourcing and sustainability framework.
• Develop dedicated methodologies for CFT and Sanctions Risk Assessments.
• Update the existing AML Business Risk Assessment, to ensure alignment with developments and regulatory expectations.
• Review end-to-end the Trade Finance Control Framework and create an action plan for further enhancing the Bank’s controls in Trade.
• Use AML Analytics for achieving efficiencies (among other risk mitigation benefits) as well as infrastructure improvements in AML/CFT operations.
• Continue the ongoing monitoring of Russian sanctions.
• Obtain ISO certification for AML Operations, Anti-Bribery and Corruption and Compliance Processes.
• Implement the FATCA/CRS Action Plan.
• Continue the implementation of further actions to increase the effectiveness of MiFID controls.
• Provide advice and monitor the Bank’s compliance with the regulatory framework.
• Continue participating in an advisory capacity in bank-wide projects relating to bancassurance business, deposit products and payment services.
• Support the Bank’s readiness initiatives for compliance with upcoming regulations, such as the Retail Investment Strategy, Consumer and Mortgage Credit Directives, Payment Services Directive III.
• Update public statements.
• Prepare and roll out a new digital learning programme addressed to all staff on conflicts of interest, and a new digital learning programme addressed to targeted staff on market abuse.

Find out more about Group Compliance.

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For Eurobank, the relationship and cooperation with its clients is a primary strategic objective. Aiming at honest and transparent communication, it has set up specific processes to communicate information surrounding its products and services. Through its Customer Complaints Policy and ISO certified processes, the Bank handles its customer complaints with compassion, while performance is measured by pertinent qualitative indicators. Aiming to strengthen its customer relationships, Eurobank has launched Customer Excellence, to enhance customer service through all points of contact and secure relationships of trust.

Complaint management

The Bank addresses customer complaints in a spirit of good cooperation, understanding and respect, always in pursuit of an appropriate and mutually acceptable solution. All complaints are managed with impartiality and sincere willingness to reach a fair solution.

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

A brief description of the Policy is available in electronic format, through a dedicated, easily accessible and user-friendly section of Bank’s website, aiming at keeping clients informed about how to submit a complaint and how it is managed. In addition, the customer is informed that if he is not satisfied with the proposed solution, he can contact Hellenic Financial Ombudsman.

Performance in terms of these actions is measured using qualitative indicators set by the Bank, while 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 process, as customers are continuously kept up to date about the progress of their case. At the same time, communication is maintained, to a sample of cases, even after the case has been resolved, to determine whether the customer 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 customers and to recommend improvements in terms of provision of better service and prevention of any future issues.

Paying attention to the importance of complaint management, oversight of results takes place on a regular basis by the Executive Board of the Bank as well as a Board-level Committee.

Customer Excellence - Customer service enhancement

Eurobank considers strengthening its customer relationships and fostering collaboration as significant endeavours and key strategic objectives. 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 NPS 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 qualitative indicators have been identified and are regularly monitored.

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

In 2023:

• Over 155,000 customer evaluations on banking experience were collected through regular measurements.
• 60,000 comments were analysed, which helped improve existing services and/or design new ones.
• Over 460 customers were personally contacted to be informed about the actions the Bank initiated with regard to their comments.

The Bank also replied in writing to all clients who responded to NPS measurements, to thank them and assure them their evaluation was taken into serious consideration.

Responsible information

Honest communication with its customers is a top priority for Eurobank. That is why transparency in the relationships with them is of strategic significance.

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.
• Has established simple and easy-to-understand procedures and has created brochures to inform customers accurately and clearly about all its products and services.
• 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 getting products and services, customers may refer to the:

• General Terms of Banking Transactions.
• Terms of Payment Services.

Then, through special pre-contractual documents for each product and the Transaction Price List, as well as the through channels of customer services and communication (e.g the branch network, the corporate website (www.eurobank.gr) or e-Banking / v-Banking), customers may obtain detailed information about the:

• Processing of their personal data, the potential recipients of such processing and their personal data protection rights.
• Bank charges for its products and services.
• Protection of their deposits and investments by the Hellenic Deposit and Investment Guarantee Fund.

Before taking out a loan, customers receive:

• The standard pre-contractual information sheet, with the main features of the loan.
• Personalised information about the purpose of the credit extended, possible loan term, interest rate type and how it is calculated, currency, frequency of loan repayments and forms of collateral for the loan.

After a loan agreement has been signed, customers are kept updated through regular statements or 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.

The Bank has additionally established a policy and procedures for the oversight and governance of products/services throughout their life cycle, in accordance with the relevant regulatory requirements and international best practices. These documents ensure that, throughout their life cycle, products/services are consistent with the likely objectives and needs of the customers to whom they are addressed (retail, private banking, corporate, institutional), as well as with the risk strategy, risk appetite and risk culture of the Bank, while remedial actions are made if deemed necessary. The Bank applies effective practices for determining the target market as well as the negative target market, where applicable, for these products/services, while ensuring their overall consistency with customer needs, features and goals.

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 find information for inclusion in the Arrears Resolution Process, pursuant to the Code of Conduct for Loans under Law 4224/2013, available on the Bank’s website.

Customers may obtain additional information about their transactions with the Bank 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.

Find out more about the products and services governance framework.

Responsible marketing and communication

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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 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 thereby follow a specific procedure per stage.

Communication is not solely for the purpose of promoting products and services, but also aims to:

• Reward the relationship with customers.
• Optimise customer journeys with information in every step.
• Ask for customer feedback.

When promoting its products and services, the Bank:

• Complies with national and EU legislation.
• Takes into account the voluntary codes in place with regard to communication, marketing and commercials.

It has also established control mechanisms and safeguards to ensure compliance with the regulatory framework in force.

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 (GDPR) and other relevant legislation (Law 4624/2019, 3471/2006 etc.) through all available channels and for all updated methods used.

In 2023:

• More than 500 targeted marketing campaigns took place, across all communication channels (digital and physical).
• More than 250 online, physical or hybrid events took place to keep in constant touch with the Bank’s customers.

To ensure compliant advertising, Eurobank has implemented a dedicated training session tackling issues concerning marketing and communication aspects of investment products and services. Eurobank representatives from all parties involved in these areas participated in the session, namely marketing, digital marketing, compliance, legal department, Asset Management MFMC, personal banking, private banking, deposits, and investment products and services. The main purpose of this session was to:

• Inform all stakeholders about the current directives, rules and obligations concerning the marketing of investment products and services.
• Develop a common understanding for all parties involved, so the entire team is conversant with the requirements.

In addition, 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 marketing 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 its content is reviewed accordingly.

In 2023, no incidents of non-compliance with regulations and voluntary codes concerning product and service information, and labelling or marketing communications were identified and, as a result, no fines or sanctions were imposed on the Bank.

Market research projects

Over 30 research projects were launched or managed in 2023 by Eurobank.

Over the year, it managed to further enhance its capabilities by expanding its research mandates and diversifying its research focus. By furthering its access to marketing intelligence tools, the Bank was able to quickly adapt to market changes, and analyse and share information more efficiently.

Eurobank Market Research aims to:

• Investigate and help boost the growth of innovative products and services.
• Persist in enhancing key indicators within its tracking study, focusing on vital aspects, such as brand value and advertising impact.
• Expand and make the most of both qualitative and quantitative surveys to bolster company strategies and tactical actions.

Eurobank continues to identify and leverage market opportunities, aiming to advance and refine its offerings, in line with its strategic and business objectives.

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The Group continues to strengthen its internal processes and manage risks in the best possible and most effective ways through implementing management systems in accordance with the ISO (International Organization for Standardization) international standards.

Eurobank Holdings’ management systems certifications are listed below.

Greece

Quality Management System (ISO 9001)

• Eurobank as of 2000 – focusing on a specific range of services.
• Eurobank Holdings as of 2000.
• Eurobank Asset Management MFMC, as of 2013.

As of 2021, Eurobank has been duly attested in accordance with the ISO 10002 Quality Management – Customer Satisfaction requirements for enhancing the complaint handling process.

Environmental Management System (ISO 14001)

• Eurobank as of 2004 – covering 100% of Eurobank’s operations.
• Business Exchanges SA as of 2013.

As of 2009, Eurobank is also listed in the European Eco-Management and Audit Scheme (EMAS) Register for Environmental Management, kept by the Ministry of Environment and Energy (registration no EL-000080).

Energy Management System (ISO 50001)

• Eurobank as of 2015 – covering 100% of its operations.

As of 2022, Eurobank implements the ISO 14064-1:2018 international standard, with guidance for quantification and reporting of greenhouse gas emissions and removals.

Occupational Health and Safety Management System (ISO 45001)

• Eurobank as of 2006 – covering all employees and activities, and includes the premises of all network branches and 7 central buildings.

IT Services Management System (ISO 20000)

• Eurobank as of 2013 – ensuring the uninterrupted provision of IT services to other units within the Bank, focusing on IT systems and infrastructure.

Business Continuity Management System (ISO 22301)

• Eurobank as of 2013 – ensuring business continuity and resilience during a possible disruptive threat, while supporting the ongoing provision of services to its customers.

Information security management system (ISO/IEC 27001)

• Eurobank as of 2004 – regarding administration and operation of the IT and telecommunication systems on-premises and on-cloud.

Whistle Blowing management system (ISO 37002)

• Eurobank applies a whistleblowing management system attested to ISO 37002 since 2023.

Plans for 2024 include certifications in ISO 20400 (Sustainable Procurement Management System) and ISO 37001 (Anti-Bribery Management System) for Eurobank, as well as expansion of ISO 9001 scope to include new services.

Cyprus

Since 2023, Eurobank Cyprus has certified its Environmental Management System according to ISO 14001 and has been listed in the European Eco-Management and Audit Scheme (EMAS) Register for Environmental Management.

Suppliers relations

Group Procurement Unit

Aiming to meet the needs of the branch network and the centralised units of the Group, Group Procurement Unit receives relevant requests online. These requests are at first evaluated and approved by authorised Bank executives through the competent business Units.

All steps to be followed are thoroughly depicted in the newly revised Eurobank Procurement Policy and the International Procurement Guidelines available on the Bank’s intranet portal.

The Bank currently handles the entire procurement cycle online, to ensure efficient management of all procurement requests. A new e-procurement solution has been implemented, offering new reporting capabilities and better monitoring for all purchase requests across the Bank, in all phases of the procurement cycle.

Following procurement assignments, the contracts include all the relevant terms for projects, goods or services, with a view to limiting any purchase-related risks, while special attention is paid to personal data (GDPR) issues. In particular, as per the DPO’s and the Legal Department’s guidance, each agreement requires and provides all necessary terms in relation to data protection regulations.

Using the supplier evaluation platform, the Bank assesses its suppliers both in terms of quality and quantity, on an annual basis. A weighted objective score is obtained for each supplier, reflecting the progress and quality of the supplier’s relationship with the Bank.

2023 highlights

• A promising project initiated in 2023 was “Booking application”, intending to promote new ways of working, taking into consideration the hybrid model adopted by the Bank (physical and remote presence).
• The installation of solar panels at the Nea Ionia complex has led to energy savings, increasing the Bank’s ESG footprint.
• ESG criteria have been included in the Requests for Proposals (RFPs) and the relevant technical evaluation for IT and non-IT projects. For the time being, 70% of tenders evaluated by the non-IT Procurement Unit already include ESG criteria. In 2023 the Bank handled:
• 1,103 requests for IT supplies to the amount of €172 million.
• 4,107 requests for goods and services to the amount of €62 million.
• 447 successfully completed contracts with suppliers, 252 of which were contract renewals and 195 new contracts.

Supplier cooperation

Eurobank pays particular attention to the relationships it forges with its suppliers and business partners. In 2023 the Group continued to apply its centralised procurement model, which covers both domestic and foreign subsidiaries, while it carried out tenders to assign major projects, substantially saving on costs.

In July 2023 the Bank performed the annual evaluation process for its supply categories – IT suppliers, consulting services, technical services, construction services, suppliers providing other goods and services – adding, for the sake of quality and risk management, special indicators that measure:

• The suppliers’ level of dependency on the Bank compared to their total turnover.
• The Bank’s level of dependency on the suppliers in relation to their total turnover with the Company.

Furthermore, in the context of enriching and updating its relationship with suppliers, the Group Procurement Unit receives feedback on each supplier from the Business Units involved as authorised evaluators.

The Bank’s suppliers and respective relations with each of them are reviewed at regular intervals through formal procedures. The Group Procurement Committee ensures that the relevant procedures are followed both in terms of procurement process and necessity, and in terms of operating cost containment.

For reasons of transparency and with a view to safeguarding the interests of the Group, the Bank follows the Tendering Procedure, also including the steps followed for New Bank Suppliers. Based on this procedure, each new supplier that is not already a Eurobank customer, must submit their published annual financial results, in order to be available to the Bank and the legal documentation regarding the legal form, good standing and legal representatives of the company.

The Bank mainly works with suppliers who operate and are registered or have an office in Greece (mainly Athens or Thessaloniki). 79.4% of the Bank’s total expenses in 2023 relate to local suppliers (registered and operating in Greece), compared to 76% in 2022.

Sustainable procurement

In the context of implementing Sustainable Procurement practices, ESG criteria have been established for the tendering processes of IT and non-IT goods, in accordance with the provisions of the tendering procedure. Initiatives for ESG criteria in IT tendering processes/RFPs were launched in 2023, in partnership with the IT Vendor Management Unit. Factors related to the impact of a product/service/project on ESG issues of the company/supplier are taken into consideration. As such, contribution to environmental protection, green development and local society are considered to have a positive effect.

Furthermore, regarding governance factors, certifications are requested from suppliers (e.g. ISO 9001, 14001, 50001) during the tendering process (RFPs) and the technical evaluation phase, as well as disclosures in relation to their operational footprint, ESG ratings and Sustainability Report.

The overall objective is to select, where possible, environmentally and socially responsible goods and services from suppliers that are aligned with those principles. Procurement processes are part of the Bank’s certified Management Systems, in accordance with the ISO 9001, ISO 14001 and ISO 50001 international standards.

A plan is already underway to certify the Bank as per the ISO 20400 for Sustainable Procurement, in cooperation with various business units within the Bank.