Only margin cover, no one would sell at these prices 611 branches x20mil is 12 billion plus 600 mil cash stock book value 10.00
future of many new investment banks, and NBG leads all.t has growth of 10 to 20% next few yrs, and Greece is a tourist dream, and culture, history gem, and shpping of many food items, and minerals, and what about international banking and investment banking a nd the acquisition of Alpha, Eurobank, or Piraeus, or a foreign bank, these guys run a beautiful franchise.
Picture this, you are the Captain of an American naval vessel and one day, two sailors under the command of one of your subordinates are killed in an avoidable accident. Got the picture? The question is whose career just ended in the U,S. Navy (other than the subordinate)? And yet the same guys in Greece still run the show. Still draw their salaries, still have the chauffeurs open the car door for them and still are in control of the fate of the bank. No, nothing has changed, at least not enough to warrant a long-term positive view. A trade, yes maybe, but that is all. I was a seller before today, and given the lousy (but expected) performance, I have temporarily moved to the sidelines. The new stock is free to trade starting tomorrow.