National Bank of Greece: National Bank of Greece (NBG) (1841)

National Bank of Greece SA (NYSE: NBG) was established in 1841 and is the oldest and largest bank in Greece. Headquartered in Athens, Greece, with 34,129 full-time employees, it is a diversified Multinational banking company for financial services .

National Bank of Greece

National Bank of Greece (NBG):

Currently, the National Bank of Greece has a total of 529 branches and 1,409 teller machines in Greece, Turkey, the United Kingdom, Bulgaria, Romania, Albania, Serbia, the former Yugoslavia, the Republic of Macedonia, Cyprus, Malta, Egypt and South Africa.

The National Bank of Greece is involved in retail and commercial banking, asset management, investment banking, brokerage and insurance activities. In addition, it provides services for demand accounts, deposit multiproducts, foreign currency deposits, savings accounts and time deposit accounts.

The loan portfolio provided by the company includes housing loans, consumer loans, asset mortgage financing solutions, liquidity financing solutions, etc. In addition, NBG also provides SME financing loans, secured loans, syndicated loans, floating rate loans, corporate bonds, factoring services, closed-period loans, foreign currency loans, project financing, import and export business trade financing, investment products and services, Mutual funds, stock trading services, children and pensions, health and property insurance products.

The development history of the National Bank of Greece (NBG):

  • Founded in Athens, Greece in 1841
  • 1899 NBG acquired Epirus and Thessaly Privileged Bank (Pronomiouchos Trapeza Epirothessalias)
  • In 1904, NBG founded Banque d’Orient
  • NBG opened its first overseas branch in Cyprus in 1904
  • In 1919 NBG acquired Bank of Crete (Trapeza KRITIS)
  • In 1930 NBG and the Bank of Athens merged its branch in Egypt into a joint venture subsidiary
  • In 1939, on the eve of World War II, NBG opened a branch Hellenic Bank Trust Company in New York. During World War II, NBG was managed by the German occupier Deutsche Bank in Greece
  • In 1953, NBG took over the Athens Bank, the second largest bank in Greece, and the National Bank of Greece took over the Athens branch of the Bank of South Africa in the same year.
  • In 1960, Egypt nationalized all banks in Egypt, including NBG branches in Egypt
  • In 1965, NBG acquired the professional credit bank Trapeza Epagelmatikis Pistis in Greece
  • In 1978, NBG opened a branch in Cairo
  • In 1994, NBG Cyprus branch was officially registered as a branch
  • In 1998, NBG merged with the Greek National Mortgage Bank Ethniki Ktimatiki Trapeza Ellados
  • In 1999, the National Bank of Greece listed on the New York Stock Exchange
  • In April 2000, NBG reached an agreement with the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation to acquire a majority stake in Stopanska Banka in the Republic of Macedonia
  • In July 2000, NBG acquired 89.9% of United Bulgarian Bank (UBB)
  • In 2002, NBG merged with the National Industrial Development and Investment Bank ETEBA
  • In 2003, the National Bank of Greece acquired the Romanian Banca Romaneasca Bank, which has more than 90 branches, and currently holds 88.7% of its outstanding shares
  • In 2005, NBG sold all Canadian operations to Bank of Nova Scotia
  • In 2006, NBG sold its US business “Atlantic Bank of New York” to Bancorp New York for US$400 million.
  • In 2006, NBG acquired 46% of the equity of Finansbank in Turkey, and subsequently increased its shareholding to 80% in 2007
  • In 2006, the National Bank of Greece acquired 99.4% of the Serbian Vojvođanska Bank for 385 million euros
  • In 2007, NBG merged with National Management and Organization Limited (the issuer of “Ethnokarta”)
  • In 2007, NBG ended its acquisition of P&K Investment Services Company
  • On February 18, 2011, NBG issued a 2.8 billion euro acquisition offer to Alpha Bank, and then sought to acquire Emporiki Bank, but they were unsuccessful. Later, Alpha Bank acquired Poch Bank.
  • In January 2013, NBG issued a takeover offer to Eurobank Ergasias, which has not yet been completed
  • In 2013, NBG took over the healthy assets and liabilities of FBBank of Greece
  • In July 2014, the European Commission approved the NBG restructuring plan

National Bank of Greece (NBG) investment:

With a history of more than 170 years and such a glorious past, the National Bank of Greece (NBG) has achieved a market value of only 4.95 billion US dollars, which is really ashamed~ (@^_^@)~ Shabianren (we are only a few years old in ICBC? Catch up with Wells Fargo ), of course, mainly due to the marketing of the Greek financial crisis.

The most glorious time of NBG was in 2007, when the stock price exceeded US$550 per share, and then with the outbreak of the subprime mortgage crisis in the United States, the European economy also plummeted, especially in Greece, Spain, Italy, etc., where the unemployment rate exceeded 40%. The stock price of the National Bank of Greece All the way to the present, today (2015.11.20) has fallen to 0.25 US dollars per share.

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