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GreeceBusinessBoG results: Profits down in 2023; dividend distribution to shareholders

BoG results: Profits down in 2023; dividend distribution to shareholders

Hellenic News of America
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The Bank of Greece (BoG) will distribute 13.3 million euros to its shareholders for the fiscal year 2023, it said on Monday.

Following the approval of BoG’s audited accounts for the year ended on December 31, 2023, BoG said that despite most central banks in the eurosystem, headed by the European Central Bank (ECB), it had managed to show profits for 2023, even if reduced compared to 2022. The dividend to be distributed amounts to 0.6720 euros per share, unchanged from the previous year, it said.

The Bank’s net income of financial year 2023 amounted to 543.6 million euros, compared with 885.1 million in the previous year, having decreased by 38.6%, whiletotal expenses before provisions amounted to 367.5 million euros, from 349.9 million in 2022, having increased by 5.0%.

The Bank’s profit before provisions in 2023 amounted to 176.1 million euros, from 535.2 million in the previous year, having decreased by 359.1 million euros (-67.1%).
Net profit, following an increase in provisions by 77.4 million eruos, amounted to 98.7 million, compared with 456.8 million in 2022.

It is noted that, for the year 2023, the Greek state received from the Bank of Greece 635.8 million euros in interest on its deposits, which are remunerated at the highest rate allowed by the ECB. This amount is 179.5 million euros higher than the total amount received for the year 2022 in interest (55.6 million) and profits (400.7 million) distributed by the bank.

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(For balance sheet, see: https://www.bankofgreece.gr/Publications/isol2023.pdf)

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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