The senior management of Hellenic Bank has decided to extend the deadline for its voluntary exit plan until Tuesday, March 11. The extension provides employees with additional time to assess their options before deciding whether to participate in the scheme.

As Brief reports, the voluntary early retirement plan was first introduced to staff on February 17. Initially set to expire on March 4, reports indicate that just over 100 employees opted to leave by the original deadline.

Following an internal review of the results, Hellenic Bank’s top management approved a one-week extension, allowing more employees to reconsider their decision. The bank had not set a specific target for the number of employees it hoped would accept the offer. The plan remains voluntary and is available to all Hellenic Bank employees, as well as staff from its affiliated insurance companies under the group’s umbrella.

Under the plan, the maximum compensation amount is set at €200,000 per departing employee. The bank has also secured confirmation from the Tax Commissioner that these compensation payments will be tax-exempt.

However, as part of an upcoming tax reform, the Tax Commissioner—backed by the Ministry of Finance—has proposed ending tax exemptions for voluntary retirement schemes. Historically, these lump-sum severance payments have been granted to banking employees to avoid straining the redundancy fund, which would otherwise bear significant financial burdens from large-scale bank exits.

The exact compensation amount for each employee will depend on multiple factors, including their current salary, years of service, and job responsibilities.

Around ten days ago, Hellenic Bank initiated internal staff transfers to address operational needs. While these reassignments aim to fill key positions, they also align with the upcoming merger between Eurobank and Hellenic Bank.

Most of these transfers have involved relocations to the bank’s call center, where demand for additional personnel remains high.