Annual Report on Prudential Supervision and Resolution Activities 2024
30/06/2025 - Press Releases
- The Annual Report on Prudential Supervision and Resolution Activities is being published for the first time, aiming to enhance transparency and accountability regarding the supervisory work of the Bank of Greece.
- The year 2024 was a period of positive developments for all supervised institutions, with particularly significant progress marked in the fundamentals of the Greek credit institutions.
The Bank of Greece, aiming to enhance transparency and accountability regarding its supervisory work, is publishing today on its website its first Annual Report on Prudential Supervision and Resolution Activities for 2024. The Report will serve as an annual information tool on the Bank of Greece’s activities in the fields of microprudential supervision of credit and financial institutions, occupational and private insurance, as well as macroprudential supervision and resolution.
Τhe Report presents, inter alia, the Bank’s actions for the prevention of money laundering and terrorist financing, the progress in liquidation proceedings, the sanctions imposed on legal and natural persons, as well as key developments in the legal and regulatory framework relating to prudential supervision and resolution.
2024 was a year of positive developments for all supervised institutions, with particularly significant progress in the fundamentals of Greek credit institutions. The non-performing loan ratio declined to its lowest level since Greece’s entry to the eurozone. Strong profitability and enhanced capital adequacy allowed the resumption of dividend distributions by Significant Institutions. As regards the Less Significant Institutions, the completion of the merger of two credit institutions was accompanied by a restructuring of their loan portfolios and an enhancement of their capital base.
At the same time, in the context of its macroprudential policy, the Bank of Greece set a positive rate for the countercyclical capital buffer applicable to credit institutions. In the insurance sector, gross written premiums increased, while the Bank completed all necessary preparations for assuming the supervision of Occupational Pension Funds as from 1 January 2025. In addition, the Bank of Greece assessed and re-authorised credit servicing firms.
Nonetheless, the positive outlook is subject to significant challenges. A potential slowdown in global trade due to tariffs, heightened geopolitical uncertainty and the gradual easing of interest rates may dent the profitability of credit institutions. Furthermore, the accelerating pace of digital transformation and the increasing risk of cyber threats call for swift adaptation and substantial investment by supervised institutions.
Against this background, according to the Bank of Greece’s key supervisory priorities, supervised institutions should shield themselves against macroeconomic and geopolitical challenges, strengthen their capital adequacy, accelerate their digital transition and further enhance their corporate governance. Other priorities of the Bank of Greece include assessing credit risk and business plans, as well as monitoring compliance with supervisory requirements on climate and environmental risk.
Link:
Annual Report on Prudential Supervision and Resolution Activities 2024 (in Greek)