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National Bank of Greece SA Message Board

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  • jpomper jpomper Sep 28, 2011 1:35 PM Flag

    Facts please not emotional responces

    Hi cher,
    thank you for your focused comments.
    I checked your 2 references, and they are correct.

    However, the reality is that
    -in Q1 the 13.2B GGB portfolio was marked down 87.7%, which is net 11.6B euros

    -in H1 the 14.2B GGB portfolio was marked at 82.8%, which is net 11.7B euros.

    since this is the same amount.
    But there is a rub: if this is all a revaluation, then it is hard to explain the 1.6B loss in H1, as markdown loss.

    There must be something else going on, and I have a strange feeling, because I do not find where the Titlos bonds are, in H1 report.

    If this disappeared (exchanged) for something in exchange, like the cca. 2.0B GGB addition, then, well...it may have been a good business for NGB and this idea might support the revaluation.

    WHERE ARE THE TITLOS BONDS?
    Anybody has any info? The fate of Titlos package might explain the survival or death of NGB.

    Please help.

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NBG
3.48-0.01(-0.29%)Jul 28 4:03 PMEDT

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