Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yah 1st Q showing profit since crash about 3 years ago. Loading the ETE bargains here, and looking forward to next earnings call end of August. Also, Intrigued by the Chinese bid on NBG business loan insurance division as it relates to Greek & Chinese future economies together with the Athens Port (under heavy Chinese Investment) as Asian Euro transshipment center.
Hi Mefence
Take a look of NBG 1Q Cash Flow statement
their net asset is 5.8b, and cash of end of 1Q 2018 is 4.3b.
National Bank of Greece receives Chinese bid for insurance arm
https://uk.reuters.com/article/uk-nbg-insurance-sale/national-bank-of-greece-receives-chinese-bid-for-insurance-arm-idUKKCN1J42ME?feedType=RSS&feedName=businessNews
National Bank of Greece : Greece's NBG posts profits in first quarter, lower provisions helps
ATHENS (Reuters) - Greece's National Bank (NBG) turned profitable in January-to-March helped by lower provisions for bad loans, Greece's second-largest lender by assets said on Thursday.
share with twitter share with LinkedIn share with facebook
share via e-mail
NBG, 40 percent owned by the country's bank rescue fund HFSF, reported a net profit from continued operations of 20 million euros (17.5 million pounds) versus a net loss of 60 million euros in the fourth quarter
italy news lowering stocks cud be another brexit .. greece bailout didn’t succeed as expected ... hopefully we will see full recovery in couple of years jmho gl
imho it cud be IMF putting lowring gdp or might be higher taxes hurting growth dont ser any negative for banks gl
Passed stress test, all good news, but the entire bank sector down 5%. Don't get it. No bad news that I can find. Some one knows something that we don't? Something bad is coming up? Anyone knows anything on what caused the drop? I know no one trusts Greece banks anymore, but this was once a $500 stock just a decade ago before the financial crisis, which ironically, originated from the US. Perhaps it's not the end of the Greek tragedy, but this is not a totally hopeless case.
why banks going lower? is it imf lowering gdp? jmho
NBGGY is gone - but those who held eventually got their money back but it took about 6 weeks or so.
Ok so basically NBGGY is gone and anyone holding shares of it, lost their entire investment?
I never held any of this but it always perplexed me how cheap it was
All banks sufficiently capitalized with Alpha and NBG leading, which leaves 20 Billion Euros bailout cash on the table. NBG CEO's term was up in 2 or 3 weeks.
The economy cah grow between 2-3% GDP and banks should do fine as now they are in very good position but there shouldn't be any recession for next 10 years as most economies are in bull run for last 8 years. jmho glta
CEO of Greece’s second largest bank steps down
I knew the failure of NBG not being able to sell National Insurance and Banca Romaneasca would have an effect. This explains the recent slide over the past two days.
https://www.ft.com/content/905170fe-4fc0-11e8-9471-a083af05aea7
They recently got paid but retroactively to the date they pulled the plug on the ADR. There was some appreciation of NBG in the meantime that those who held had lost out on. Moral of the story: Watch your investments. Like a hawk.
Can someone tell me in a nutshell, what happened to the National Bank of Greece ADR ?
Did all longs lost their money here when they pulled the listing?
Forecasts for growth keep heading lower - http://www.ekathimerini.com/business.
The Jordan Times! They are more aware of the situation. Washington Post is a liberal biased newspaper.
Hello everyone, i got back my money
but the price is 0.3USD.
ETE price is 0.337 euro, if change to USD should be around 0.39
NBG they want collect our equity at low price.
Just that .04 cents which they penciled into the price - this one is just an OTC over the counter pink slip stock - averages in with the NBG in Athens and with the exchange rate of Euro/USD not bad.
What was the difference between NBGGY and NBGIF?
Thanks Chris NBGIF is what I bought here only because Its more convenient- it all pays the same!
Me too. I'm making a lot of money now. I bought heavy at .22 .24 and last night. But I'm holding for the long term. Lets see what happens. Good luck/job Nick. BTW are you NBGIF or ETE:GR?
Thanks for the update Chris - it was doing fine - Stress Test is good.
Thats nothing they will find better deal and nice to see banks doing well at stress test but next will be reducing the high NPL .. hopefully greece will get debt relief as 180% debt of gdp is way too high to manage jmho glta
It may move lower. They are having trouble closing a few deals.
https://bbj.hu/finance/otp-cancels-contract-to-buy-romanian-bank_148263
Take a look EFEGY of OTC Euro Bank. It has over 52weeks high today. reach 0.6 usd
Nick, I dont know will it be 2 euro next year, I am not a god. Their people, Their PM, the inflation, every thing will affect their recovery.
but i just know they still in the bottom, and the news and the data show that they still recovering. this investment i think i will keep 5-10years
After Greece recovery I will go to UK market as they vote and agree Brexit. they pushing their country to the hell.
Do you know the news of Haiti Oxfam ?? their staff make love with the young girl. I checked the Oxfam annual report. UK gov has reduced the donation 1/3 compare with last year
when UK have many riot the umempolyment rate increase, I will find the under value company in UK.
Congratulations to all the longs! We are moving ahead.
Thanks, what is the mood like in Greece as far as National Bank of Greece is concerned - Do you see a fast turn around? next year should be at least 2 Euros? Correct?
Hello Nick
I found one website which have daily news of Greece in english.
http://greece.greekreporter.com/category/greek-news/economy/
Awesome Good News Manhin - Yes Buy as much as possible its very cheap now. ,30 Euro Cents is nothing - Lottery Ticket in Greece.
Hello Nick
Thank you for provide the infomation.
I am buying the ETE as Athen Stock. I have 10 friends they bought NBGGY too, as introduced it to them.
I think it may rise to 5-10euro within 10 years.
Hi Manhin:
Its late now but just start buying NBGIF shares now as this is going higher! Your broker should cash out your NBGGY shares.
Take Care!
Nick
Hello Tradenick
I dont know do I still have a right to covert my NBGGY to NBGIF, as I am oversea investor. I dont know less OTC Market, I just know it is more risky than NY exchange.
BNY Mellon said that when they sell all of NBGGY, they will return the money to me. the average daily volume of ETE is 30m, they have 5b share. i think it take 9 months sold all of share. I think i can take back the money more than the NBGGY closing price. as ETE:ATH is trading at 0.3 euro today.
I am very disappionted, as it has been delisted. I bought it 1 and half year ago, and my PRICE was 0.2USD, when it riase to 0.46. i had 130% return within 1year. but now..............(cry)
I am a value investor, i always read the news to find the turning point. as the Greece bank annual report, NBG is the most heathly bank in Greece, so I choose it. When Greece recover it is the easiest one to get more market share.
If you have read the news of ICELAND recovery, they are almost same. Last year Greece Country data showed that it was stop decreasing. If Greece the recovery path as same as ICELAND, their tourist industry will revoer first, as both has beautiful place to visit. but it dont have tourist company is listing in Athen. even the Aegean Airline is not a good target.
If Greece want earn more money form tourist, they must build more Hotel, Road or other facility. they must get loan from bank. the bank turnover must imporve. The tourist industry will provide the job for the Greek and imporve the umemployment rate, if the Greek get the job, It may imporve the NPL too.
hope you understand, limited english ability.
awesome positive news at last for banks.. hopefully the positive things continue and institutions and investors get in jmho
Banks seen passing stress tests http://www.ekathimerini.com/227647/article/ekathimerini/business/banks-seen-passing-stress-tests
not a bad investment but its good for longterm and investors need patience removing adr was a bad move by nbg imho gl
I don't necessarily think it's a bad investment. Obviously buying NBGGY was a bad investment because they cancelled the ADR. But who could have predicted that?
I bought ETE:GR instead of NBGIF because NBGIF is OTC. After that last experience I just decided to stay away from OTC stocks. Because ETE:GR is still traded on the Athens exchange, I'm willing to risk buying it as a penny stock. This is the last penny stock I will buy.
Greece is experiencing the same thing America went through in 2007/2008 with subprime mortgages. The difference is that the American economy was able to rebound much quicker than Greece.
I think you just have to be very patient and hold ETE:GR or NBGIF for a long time. I've been buying again at the .24 and .28 levels. you know, dollar cost averaging. The tangible book valuable is at least 0.72.
Another stress test in Sep? how may are there btw
Holy Shit, i dont know if I will be alive in 10 years, i guess we made a bad investment Chris..... The Stress test is in September and that could bump it up to the .90 cents range? Am i Right?
Honestly, I don't know. If you read this recent article the writer theorizes it could take 10 years before the NPL's are reduced to acceptable levels. It's hard to know what exactly is going to happen with Greece. The good thing I suppose is that it's on track, however slowly that may be, to improving its economic condition.
http://www.ekathimerini.com/227530/article/ekathimerini/business/greek-banks-need-a-decade-to-cut-npls-to-5-pct