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National Bank of Greece S.A. 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, may have been a good business for NGB and this idea might support the revaluation.

    Anybody has any info? The fate of Titlos package might explain the survival or death of NGB.

    Please help.

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