The enlargement of expertise use, accelerated by the coronavirus pandemic, is additional bolstering the efforts of banks to scale back working prices via employees cuts.
The outbreak of the Covid-19 well being disaster has accelerated the digital transformation of the credit score sector, doubling on-line banking in simply 4 months, with the full variety of web banking customers exceeding Three million in Greece. Over 1.2 million folks use cell banking.
The dimensions of the credit score programs within the coming years will rely largely on the dimensions of the nation’s financial system, in addition to on the digital transformation that’s already beneath means and is dramatically altering form, main additionally to adjustments in its construction and operation. The necessity for the bodily presence of banks via branches has additionally gone down in consequence, a growth that entails a proportionate discount to worker numbers.
The variety of bank staff, which stood at 36,727 in end-2019, is anticipated to say no additional by 2,500-3,500 till the tip of this yr, via an initiative launched by the systemic banks. This considerations two voluntary redundancy applications launched by Eurobank and Nationwide, the spin-off of the bad-loans division of Alpha Bank and its switch to nonperforming loans administration firm Cepal, anticipated to be accomplished by year-end, in addition to the sale of Ethniki Insurance coverage, which the administration of Nationwide has additionally began.
Final week Eurobank launched a beneficiant voluntary exit program for employees that has full 5 years of labor on the group. This system will run till October 2 and estimates put the variety of workers benefitting from it tat 700.
Nationwide’s new voluntary redundancy scheme will supply robust incentives, having already deliberate for its employees numbers to drop to eight,000 in Greece by year-end from 8,238 on the finish of June. On the group stage there needs to be an extra discount of workers via the sale of Ethniki, which employs roughly 900 folks.
Workers cuts have been the precedence of the credit score system in an effort to comprise prices within the final decade, and are actually dictated by the numerous discount of department actions by way of the sale of NPLs.
