The National Bank of Greece has announced the launch of the first phase of its 2026 share buyback programme, following approvals granted by shareholders and regulatory authorities.

The first phase of the 2026 share buyback programme will be carried out in accordance with the approvals provided by the annual general meeting of shareholders held on April 30, 2026, under the provisions of Law 4548/2018.

The implementation of the programme has also received approval from the bank’s board of directors, acting under powers delegated by the general meeting.

In addition, the programme has secured the approval of the Hellenic Corporation of Assets and Participations and the Single Supervisory Mechanism (SSM) of the European Central Bank (ECB).

The first phase will be implemented in two successive parts under the guidance of Goldman Sachs Bank Europe SE and Morgan Stanley Europe SE, respectively.

The two institutions will operate independently from each other and independently from the bank when taking decisions concerning the timing and pricing of transactions.

According to the bank, the purpose of the first phase is to enhance shareholder returns and improve the indicators for earnings per share and dividend per share.

Following completion of the repurchases, the acquired shares will be cancelled.

The maximum amount allocated to the first phase of the programme has been set at €531.91 million.

The maximum number of shares that may be acquired under the first phase amounts to 91,471,515 shares.

This figure will be reduced by the number of treasury shares already held by the bank at the date of the announcement, in accordance with the restrictions laid down by Law 4548/2018.

The first phase of the programme may continue until June 8, 2027.

However, it remains subject to customary early termination provisions, which may be activated by the bank, Goldman Sachs or Morgan Stanley, depending on the circumstances.

The share repurchases will be conducted on Euronext Athens.

They will be executed in accordance with the applicable legal and regulatory framework and within the scope of the guidelines and recommendations issued by the Greek and European supervisory authorities.

The bank stated that completed transactions will be disclosed to the market.

It added that investors will be kept informed of any subsequent changes regarding the implementation of the 2026 share buyback programme, in line with the applicable legislation.

The National Bank of Greece also said that the launch of the second phase of the 2026 share buyback programme will follow once the necessary regulatory approvals have been obtained.