Voluntary exit project starts at National

National Bank of Greece will start accepting applications for its voluntary exit program on Friday, as it aims to cut staff numbers by some 2,000 and annual operation costs by about 120 million euros.

The bank announced that the period for the submission of applications will end on December 30, with the contracts of the employees that enter the program to be terminated on December 31.

The program concerns all NBG employees as well as the staff of the banks that the lender absorbed – First Business Bank and Proton Bank. “The total cost of the program is estimated at 160 million euros,” the bank said in a statement.

Meanwhile NBG announced on Thursday the appointment of Panayiotis Thomopoulos as a non-executive member of the bank’s governing board. The former chairman of the Hellenic Financial Stability Fund has also served as deputy governor of the Bank of Greece.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.