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National Bank of Greece S.A. Message Board

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  • jpomper jpomper Mar 20, 2011 10:39 AM Flag

    FinansBank alone is worth the price of NBG

    We have to live with weak GGB for a pretty long time. If the gov. sells their assets in value of $50B, they still would have on their liability side $100B debt (and have to service it for cca. 6-7.0 B/year). So, simply get used to this fact.

    At the same time, just by having high-yielding GGB portfolio, NBG is getting a nice interest premium on it; especially compared to German Bunds.

    So, would you, as shareholder, prefer to have none of those GGB's?
    And have Bunds instead?

    They actually are benefitting from the Greek debt problem: by getting paid more for holding them.

    Anyway, the weak hands have already sold their NBG shares; they will come back after NBG share price is above $5, sometime in 2013.