We inform you that the Bank of Greece has established a Central Balance Sheet Data Office in order to provide statistical information for the financial data of Greek undertakings.

In particular, according to Bank of Greece Governor’s Act no.2682/03-06-2019, for the need for statistical information of the Bank of Greece, as well as for the purposes of supporting Eurosystem monetary policy operations, a new obligation is established regarding the submission of undertakings’ financial statements operating in Greece to the Bank of Greece, at the same time as the publicity requirements pursuant to law, by means of the application https://iris.bankofgreece.gr.

The above-mentioned obligation concerns legal entities outside the financial sector in the legal form of Societe Anonyme (whether listed or not), of Limited Company, of Limited Liability Company and of Private Limited Company, who prepare their annual financial statements pursuant to the provisions of Article 1 of Law 4308/2014.

The deadline for the initial submission of the application is set at the end of November 2019 and shall concern the annual financial statements covering the years 2016, 2017 and 2018, while the non-compliance with those provided for by the Act may result in the imposition of a fine in favor of the Greek State up to the amount of 293,470 Euros, according to article 55C of the Articles of Associations of the Bank of Greece.

It is stated that the statements for the financial year from 01.04.2016 to 31.03.2017 are included in the annual financial statements of the year 2016, the statements for the financial year from 1.4.2017 to 31.3.2018 are included in the annual financial statements of year 2017 and the statements for the financial year from 1.4.2018 to 31.3.2019 are included in the annual financial statements of the year 2018.

The obligated Companies outside the financial sector shall provide their financial data by filling in, where appropriate, the Templates, depending on whether they prepare their financial statements according to International Financial Reporting Standards or to Greek Accounting Standards, and their possible submission to the provisions of Law 4308/2014 regarding small entities, as defined in the Bank of Greece Governor’s Act and as attached thereto.

In particular:

The legal entities preparing their financial statements according to International Financial Reporting Standards (IFRS), shall fill in the Templates A, pursuant to the applicable IFRS of the reference period.
The legal entities applying the provisions of Law regarding the Greek Accounting Standards (Law 4308/2014), shall fill in the Templates B.
The legal entities applying the provisions of Law regarding the Greek Accounting Standards and falling within the scope of the provisions for the small entities (Law 4308/2014), may fill in the Templates C as an alternative to the preceding paragraph (2b).
It should be noted that the submission of the above documents on behalf of the undertakings, regarding the Act, exclusively applies to statistical purposes, while the rules for the protection and use of confidential information according to Article 8 of Council Regulation (EC) No 2533/1998 dated 23 November 1998 are applicable at the time these documents were collected. In addition, the information provided, even if it is published, shall not be published by the Bank of Greece on an individual basis, but only in aggregate form, in order to avoid, even indirectly, the identification of the undertakings.

For more information and the Templates, please see the following document: http://www.pcci.gr/evepimages/TTE_F8365.pdf