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National Bank of Greece S.A. Message Board

  • brendabreeze77 brendabreeze77 Mar 24, 2014 7:10 AM Flag

    Inadequate reporting on NBG yr-end by UK Reuters IMO

    as they did not state NBG’s better loan quality and included non-performing loan stats for all Greek banks instead of just concentrating on NBG stats. They also did not report that NBG has the lowest share of loan losses of the core Greek banks: “Furthermore, the results of the BlackRock exercise have affirmed the market-leading position of NBG in respect to it having the lowest share of potential losses in the domestic loan book.”

    Sentiment: Buy

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    • New non-performing loans (NPLs) were down 57% in 2013. +90 days past due (dpd) loan delinquencies in Greece in Q4 was down 13% qoq to #$%$332 million, reflecting a 27.4% ratio. The NPL ratio will improve when NBG starts providing more loans with the Greek economy improving, as the ratio is defined as the relation between nonperforming loans to total outstanding loans. NBG has better loan quality and liquidity than its peers and carries less integration risk according to Deutsche Bank, adding that recent pullback presents a buying opportunity.