National Bank results get 200-mln-euro boost

A law amendment of the Labor Ministry that was approved by Parliament on Thursday has given a significant boost, worth 200 million euros, to the financial results of National Bank of Greece.

It concerns the inclusion of employee recipients of the LEPETE auxiliary benefit in the online version of the Single Social Security Entity (e-EFKA) and provides for National to be relieved of the annual 40-million-euro payment to them for the period from 2019 to 2023 as a supplementary social security contribution.

The benefit for the lender will be immediately reflected in its 2019 financial figures.