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Main Executive, Administrative and other Committees and Councils

Supervisory & NPL Management Council

The Council consists of eleven members, chaired by one of the Senior General Managers of the Bank. The Vice Chairman is also one of the Senior Managers of the Bank. Members of the Council are the Authorized Executive Director of the Board, Senior General Managers, General Managers, as well as other Top Management executives of the Bank. The Council was established under the Bank's strategy for the effective NPL management. Its purpose is the instruction of the strategic management of non-performing exposures, the creation of a modern system for monitoring these requirements and the configuration of the necessary types of portfolio per regulations. Also ensuring optimal structures and resources for the effective functioning of the NPL management units and the determination of the scope of responsibilities of the institutions and persons involved in the NPL management. Finally, the adoption of arrangement programs and the quarterly update of the Board of the Bank.

Asset-Liability Management Committee (ALCO)

The Committee consists of nine members, its Chairman being the Bank’s Managing Director & CEO. Members of the Committee are one of the Vice Chairmen of the Bank’s Board, Senior General Managers, General Managers, as well as other Top Management executives of the Bank. The Committee is supported by an Executive Secretary. The Committee meets monthly and its main duties are the implementation of the Bank's strategy in developing assets and liabilities; the management of assets and liabilities exercising at the same time a pricing policy in products and services; the approval for the introduction of new deposit or loan products, the follow-up of equity adequacy in relation to the risks, the examination of stress test scenarios and the decision making on preserving the available Group liquidity at acceptable levels.

Senior Credit Committee

The Committee consists of six members, chaired by Mr. Theodore P. Mylonas. The members of the Committee are Senior General Managers, General Managers and the Greek State Representative, while the Committee is supported by an Executive Secretary.

The Committee regularly convenes on a weekly basis, being competent to approve credits and risk taking. Its responsibilities regard Piraeus Bank and consolidated subsidiaries in Greece and abroad.

Recovery Credit Committee

The Committee consists of eight members, chaired by one of the Senior General Managers of the Bank. The Vice Chairman is also one of the Senior General Managers of the Bank. The members of the Committee are General Managers and Deputy General Managers, while the Committee is supported by an Executive Secretary.

The Committee regularly convenes on a weekly basis and approves issues related to the borrowers that are managed by the Recovery Banking Unit. Its responsibilities regard Piraeus Bank and consolidated subsidiaries in Greece and abroad.

Information Technology (IT) Planning and Operating Quality Committee

The Committee consists of twelve members, chaired by one of the Senior General Managers of the Bank, while its Vice Chairman is one of the Advisors to Management. The members of the Committee are Senior General Managers, General Managers, Deputy General Managers and Assistant General Managers. The Committee is supported by an Executive Secretary.

The Committee meets three times (3) per year or on extraordinary basis, when required. Its duties consist in evaluating the short term and mid & long term information technology projects, in regularly upgrading the projects and annually updating them, in evaluating and approving all the projects of the Group's annual operational action plan, in evaluating risk management related to the information systems, in evaluating studies and large supplies of material, software and services directly or indirectly linked to information technology systems, in supervising all large Group projects and the budget, in defining projects implementation priorities, in securing the necessary resources, in evaluating and approving policies for standards and procedures relevant to planning and implementing information technology systems and in approving and supervising cooperation with third parties (outsourcing).

Expenditure Committee

The Committee consists of seven members, with the Group CFO as its Chairman. The members of the Committee are Senior General Managers, General Managers, the Deputy C.F.O., as well as other Top Management executives of the Bank. The Committee is supported by an Executive Secretary. The Committee sits on a fortnight basis and it is responsible to approve any kind of expenditure, investments in fixed assets and in Bank infrastructure as well as sale of fixed assets.

Corporate Responsibility Committee

The Committee consists of eight members; its Chairman is the President of Piraeus Group Cultural Foundation (PIOP), Mrs. Sophia Staikou. Members of the Committee are the Group’s Legal Advisor, Senior General Managers, General Managers, the Head of Environment department and one scientific consultant of the Cultural Foundation of the Group. The Committee meets following an invitation by the Committee Chairman and among its duties is to evaluate and support programs regarding the strengthening of vulnerable social groups, the natural environment protection, the evaluation of charity programs and the recommendation for the Bank's contribution, the study and participation in programs leading to the creation of museums and the supervision of Bank sponsorships and press subscriptions.