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national bank of greece (NBGIF) Key Developments

National Bank of Greece Announces Appointments to the Board and Audit Committee; Approves Amendments to the Articles of Association

National Bank of Greece announced that at the Annual General Meeting of Shareholders held on June 26, 2014, the shareholders approved amendments to the Bank's Articles of Association and alignment with the new provisions of the Companies Act 2190/1920, as amended (pursuant to Law 3884/2010), and with the provisions of Laws 3864/2010, 4072/2012, 4156/2013 and 4250/2014: amendment of Articles 5, 6, 8, 10, 11, 12, 13, 14, 15, 18, 21, 26, 30, 31 and 32, completion, cancellation and renumbering of provisions of the Articles of Association. The shareholders also elected Mr. Dimitrios Dimopoulos, Mr. Paul Mylonas, and Ms. Paula Hadjisotiriou as new members of the company's Board, with a term of office through to the AGM of 2016, and designated Mr. Dimitrios Afendoulis as independent non-executive member of the Board. Dimitrios Afendoulis was elected as a member of the Board Audit Committee, with a term of office through to the AGM of 2015.

National Bank of Greece To Divest NBGI

National Bank of Greece SA (ATSE:ETE) expects to sell NBGI Private Equity Limited soon. The company said that it is considering second-round bids for its NBGI and is expecting a sale soon. Deputy Chief Executive, Petros Christodoulou, said, "We are now going through the second round of the secondary sale process. We believe that this is an imminent thing. It's most likely that it will be done by end-September 2014."

National Bank of Greece SA Proposes Amendment of the Articles of Association

National Bank of Greece SA at its annual general meeting to be held on June 26, 2014, proposed amendment of the Articles of Association and alignment thereof with the new provisions of the Companies Act (following law 3884/2010) and with laws 3864/2010, 4072/2012, 4156/2013 and 4250/2014: amendment of Articles 5, 6, 8, 10, 11, 12, 13, 14, 15, 18, 21, 26, 30, 31 and 32, and completion, cancellation and renumbering of provisions of the Articles of Association.

National Bank of Greece SA, Annual General Meeting, Jun 26, 2014

National Bank of Greece SA, Annual General Meeting, Jun 26, 2014., at 12:00 E. Europe Standard Time. Location: 93 Eolou St. (Megaro Mela). Agenda: To consider the submission for approval of the board of directors' and the auditors' reports on the annual financial statements for the financial year 2013; to discharge of the members of the board of directors and the auditors of the bank from any liability for indemnity regarding the annual financial statements and management for the year 2013; to approval of the remuneration of the board of directors of the bank for the financial year 2013; to consider the granting of permission for directors, general managers, assistant general managers and managers to participate on the board of directors or in the management of NBG Group companies pursuing similar or related business goals; to election of new members to the board, appointment of independent non-executive member; to election of members to the audit committee; and to consider the amendment of the articles of association and alignment thereof with the new provisions of the Companies Act.

National Bank of Greece SA Reports Group Earnings Results for the First Quarter of 2014

National Bank of Greece SA reported group earnings results for the first quarter of 2014. For the period, the company reported group net profit of €181 million against €27 million a year ago. Group core revenue was €900 million against €922 million a year ago. This achievement was due in part to the ongoing increase in net interest income in Greece, resulting from the improving economic climate, continued cost-cutting actions and the moderation of new +90 dpd loans. The contribution by Finansbank continued to be strong for yet another quarter, as it reported a net profit of €63 million, despite the particularly adverse conditions prevailing in the Turkish market in the first quarter, while the Group's SE Europe subsidiaries posted profits of €14 million. Group net interest income in the first quarter continued to improve quarter-on-quarter both in Greece (up 1%) and SE Europe (up 1%), while displaying high resilience in Turkey (down just 2% on a local currency basis).

 

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