THE IMPACT OF IFRS 9 ON THE GREEK SYSTEMIC BANKS

Gerasimos Rompotis () and Dimitris Balios ()
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Gerasimos Rompotis: National and Kapodistrian University of Athens MBA, Greece
Dimitris Balios: National and Kapodistrian University of Athens, Department of Economics, Greece

European Journal of Accounting, Finance & Business, 2024, vol. 12, issue 1, 167-174

Abstract: This paper examines the impact of IFRS 9 - Financial Instruments on the four systemic banks in Greece upon the transition to the new accounting standard on January 1, 2018. The implementation of the new standard resulted in an average increase in the impairment of financial assets by 1.38 billion euros (or 11%) at the group level and 1.30 billion euros (or 12%) at the bank level. In addition, the impact on average equity on 1/1/2018 was a decrease of 1.38 billion euros (or 16%) at the group level and 1.34 billion euros (or 17%) at the bank level. The impact on the regulatory capital was an average decrease of 0.55% (0.45%) at the group (bank) level, based on the transitional arrangements, or a decrease of 3.84% (3.91%) at the group (bank) level on a fully-load basis. Finally, some key financial leverage ratios were significantly affected by the new standard.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ejafbu:v:12:y:2024:i:1:p:167-174

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