Last $3.46 USD
Change Today -0.05 / -1.42%
Volume 500.1K
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As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

national bank of greece (NBGIF) Key Developments

National Bank of Greece S.A. Reports Unaudited Consolidated and Company Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

National Bank of Greece S.A. reported unaudited consolidated and company earnings results for the second quarter and six months ended June 30, 2014. For the quarter, on group basis, the company reported net interest income of EUR 760 million against EUR 837 million a year ago. Total income was EUR 794 million against EUR 1,031 million a year ago. Loss before tax was EUR 64 million against profit before tax of EUR 152 million a year ago. Profit attributable to company’s equity shareholders was EUR 965 against EUR 317 million a year ago. Basic and diluted earnings per share were EUR 0.32 against EUR 0.68 a year ago. For the quarter, the company reported group net profit was EUR 965 million. Core revenues were EUR 914 million. For the quarter, on parent basis, the company reported net interest income of EUR 393 million against EUR 350 million a year ago. Total income was EUR 291 million against EUR 400 million a year ago. Loss before tax was EUR 202million against EUR 50 million a year ago. Profit for the period was EUR 864 against EUR 190 million a year ago. Basic and diluted earnings per share were EUR 0.28 against EUR 0.35 a year ago. For the six months, on group basis, the company reported net interest income of EUR 1,511 million against EUR 1,609 million a year ago. Total income was EUR 1,738 million against EUR 1,944 million a year ago. Profit before tax was EUR 4 million against EUR 187 million a year ago. Profit attributable to company’s equity shareholders was EUR 1,146 against EUR 344 million a year ago. Basic and diluted earnings per share were EUR 0.42 against EUR 1.06 a year ago. Net cash used in operating activities was EUR 5,377 million against EUR 658 million a year ago. Purchase of property & equipment, intangible assets and investment property was EUR 569 million against EUR 113 million a year ago. For six months, the company reported net profit of EUR 1,146 million against EUR 343 million a year ago. Core revenues were EUR 1,814 million against EUR 1,921 million a year ago. For the six months, on parent basis, the company reported net interest income of EUR 797 million against EUR 684 million a year ago. Total income was EUR 712 million against EUR 672 million a year ago. Loss before tax was EUR 268 million against EUR 268 million a year ago. Profit attributable to company’s equity shareholders was EUR 947 against loss attributable to company’s equity shareholders of EUR 28 million a year ago. Basic and diluted earnings per share were EUR 0.35 against basic and diluted loss per share was EUR 0.07 a year ago. Net cash used in operating activities was EUR 4,458 million against EUR 1,279 million a year ago. Purchase of property & equipment, intangible assets and investment property was EUR 23 million against EUR 17 million a year ago.

European Commission Reportedly Approves National Bank Of Greece And Finansbank Deal

European Commission competition authorities accepted National Bank of Greece SA's (ATSE:ETE) request to reduce the Finansbank AS (IBSE:FINBN) stake it plans to sell, enabling it to maintain a controlling stake in the bank, Imerisia reported.

Goldman, Deutsche Bank Reportedly Near Deal For NBGI Private Equity

The private-equity units of The Goldman Sachs Group, Inc. (NYSE:GS) and Deutsche Bank AG (DB:DBK) are nearing an agreement to purchase the buyout arm of National Bank of Greece SA (ATSE:ETE), according to two people with knowledge of the matter. Goldman Sachs Asset Management and DB Private Equity are in talks to pay £300 million for NBGI Private Equity Ltd., aid the people, who asked not to be identified because they weren’t authorized to speak publicly. NBGI’s management, headed by Chairman and Chief Executive Officer Pavlos Stellakis, is in negotiations to remain with the London-based unit after the deal is completed, though no final decision has been made, two of the people said. “We’re in the final stage, but there hasn’t been any decision,” Dimitris Spyropoulos, a spokesman for Athens-based National Bank, said yesterday. Spokesmen for Goldman Sachs, Deutsche Bank and NBGI all declined to comment.

European Commission Approves National Bank of Greece's Restructuring Plan

The European Commission has cleared the proposed restructuring plan of the National Bank of Greece (NBG). NBG has repeatedly received capital and liquidity support from Greece's government and the Hellenic Financial Stability Fund (HFSF) since 2008, prompting the Commission to launch an investigation in July 2012. The commission found that the measures already implemented and those envisaged in the future will enable the bank to fully restore its long term viability, while limiting the distortions of competition brought about by the state aid granted. Notified last month, the restructuring plan will see NBG reduce its holding in its Turkish subsidiary Finansbank to strengthen its capital position.

National Bank of Greece SA to Report First Half, 2014 Results on Aug 28, 2014

National Bank of Greece SA announced that they will report first half, 2014 results on Aug 28, 2014

 

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