National Bank of Greece ADR (fka NBGGY)

[Jovo]

Uncertainty around NPL and Italy, opportunity or ?

https://www.google.be/amp/s/amp.ft.com/content/a19bbf16-c727-11e8-ba8f-ee390057b8c9

[MasterBlastr]

The only difference I see is NBGGY was an ADR that was sponsored by NBG itself, while NBGIF is an ADR sponsored by Mellon Bank in New York. The conversion ratios I think were the same (1 ADR = 1 share). Do you see any other differences, other than NBGGY was more heavily traded?

[Chriss777]

The bank is currently listed on the Athens Stock Exchange as ETE:GR. From 1999 to 2015 it was listed on the New York Stock Exchange as ADR NBG.

When it became an over the counter pink security, it then became listed as ADR NBGGY and NBGIF. NBGGY was cancelled in 2018, leaving NBGIF as the sole ADR to trade over the counter in the States.

[MasterBlastr]

WRONG. NBGIF is the actual bank, not the ADR.

[Smilin_B]

Why is hardly anyone trading this? NBGIF

[manhin00]

Greece Capitial Control Announced

https://greece.greekreporter.com/2018/09/26/greece-lifts-capital-controls-for-domestic-transactions/

[Chriss777]

The ADR for this bank is NBGIF

[MasterBlastr]

I don't know -

[Smilin_B]

I don't own any shares but still have this on my watch list for some reason.

Will there ever be another ADR for this bank?

[manhin00]

Greece Capitial Control will End

As the news said, the Greece Gov will announce the capitial control will end before this year end or next year first season end.

All good news but Greece stock still low

[MasterBlastr]

You bet. I have been a bull of NBG for some time, but my time horizon keeps getting farther out. Good luck.

[taurunum]

Thank you MasterBlastr

[MasterBlastr]

Yes . . . NBGGY was just an ADR, which NBG decided to discontinue.

[taurunum]

Im not sure if this was a post response to what i wrote beneath. If one wanted to invest in NGB in the US they would purchase NBGIF?

[MasterBlastr]

NBGIF . . . it was always around.

[taurunum]

NBGGY was delisted and is now NBG? or NBGIF? Im a little confused and am looking for the right one as well as a means to invest in it, web searches are giving me limited info and most of it outdated by a few years. Any help would be appreciated.

[Jovo]

Anyone got an opinion on the effect of the SRB on the stock price for banks and more specific Greek banks?
https://srb.europa.eu/en/node/632

The SRB has emerged after the 2008 EU bankcrisis and has the capability to keep stockowners etc. responsible during failure by reducing stockprices. This should only be used in certain cases and for systembanks but it already happened to a Spanish bank:
https://srb.europa.eu/en/node/315

I assume it reduces upwards potential since more knowable traders will keep this risk in mind?

[Jovo]

A couple of days now I notice a trend that there is a big spike in volume around 15h-15h30. Any a guess to why this would happen? (ETE on ATHEX)

[Jovo]

Haha you start wondering what's more volatile, crypto vs greek banks :')...

I'll ride it out.
With all the news getting better this can't go down forever. But I am not expecting returns in the short-term.

[manhin00]

someone is short selling..............

Greece bond yield is one year low today. it is 4.08%
All Greece bank are still falling. what do they want ??

[Chriss777]

When I sold on Monday it hurt. But now that I see how much more its fallen since I sold, I'm glad I did. Greece is simply not investable right now.

[manhin00]

I dont know why it keep falling.
Not only the NBG, Greece four bank also drop more 30% in this month. As their interim result, All of them has improved.

Is it the money leaving the Euro Country?? Turky Lira has stopped dropping. and Greece just have little investment in Turky. The Turky crisis should affect the Greece so deep.

US GOV will have new investment in Greece for increase the army in Greece.

Greece PM said it derease the incoming from 29% to 25% in four years.

Just one reason, Is it the money going back to US??

Anyone know? Can I check the Athex Equity Daily Transaction??
In my country, I can check it in SEC, it will securities company how many % of the equity they hold.

[mrfence]

No rational reason I can discern but I noticed the feeds to the technical charts were exceptionally screwed up before and during the trading session which may have been enough to fuel a small panic sell off. Lol, it's a very annoying to kunundrum.

[Tradernick5]

Great thanks - why is down so much today?

[mrfence]

Q3 reports out end of November. News on Chinese buyout of Insurance division will be another big boost as well. Could come at any time.

[Tradernick5]

When is Q3?

[mrfence]

Has potential to test $10 after Q3 earnings report, and a second successful round of stress test.

[Tradernick5]

Mr.Fence is this going to $10 Dollars?

[mrfence]

ETE Green 4 da bounce from $1.98

[Chriss777]

I'm going to stay up tonight to see how it trades in Athens. I'll wait. I really do not want to sell. But if ETE:GR breaks the $2.00 mark, I don't think there will be much support until it reaches $1.89. I don't want to be around for those kind of losses. Hoping for the best, preparing for the worst. Good luck to you too!

[mrfence]

Dollar volume is way up. $2 is bottom IMO. The RS's from years ago were to raise capital so dilution was a huge factor. Right now peeps dumping are mad about RS with Q showing a loss due to the huge one time early retirement pay off. Otherwise, the second Q was much more profitable than the first Q. If shorty is driving this then look for a squeeze to follow with the new Lean SS. Another analyst raised the consensus from hold to outperform this week based on the improved fundamentals. Lots of technical confusion is at work too since SS, charts, & historical trading stats have not been properly updated on any feeds. RSI is over 90 when it ought to be about 10, lol! Good luck whatever you do. I'm adding and waiting. Sheesh if shorty drives it to a quarter then market cap would be less than half the assets and the short squeeze could run it up past $10

[Chriss777]

Nick it could be for any number of reasons. I understand the banking sector in Greece has been down all week. I would guess there are people short selling this stock too. They want to drive it back to .25. It may be time to sell. I think ETE:GR is going to break below $2.00 and that's where I'm invested, ETE:GR. NBGIF is $2.43. I can't afford the losses anymore. I'll buy again if things look as if they are improving.

I was thinking, the people who bought National Bank of Greece before 2015 got hit with 2 reverse splits. They got totally wiped out. I can't lose everything here.

I'm going to head over to GLUU and park my money there for a while. I saw them back when they were at $3.00 a share but I went with NBGGY instead. Now they are $7.00 and change. Also maybe put some cash in APPS. I also spotted them at .50, now they are $1.32 Good luck to you. I'll keep this on the radar for when times are better in Greece.

[Tradernick5]

Chris why is it going down so much - down .75 cents in a day? What the hell is going on - what a terrible stock.

[mrfence]

ETE Just started trading again last night. Best time to add since announcement of NBGGY ADR cancellation. Check the Q1, Q2 P&L progression details on this link...

https://www.nbg.gr/english/the-group/investor-relations/financial-information/financial-announcements/Documents/NBG_2Q18%20Results%20Press%20Release_EN.pdf

Awesome! With the early retirement expenses paid in full during Q2, the Q3 bottom line will be positively shocking IMO

[Chriss777]

Earnings already came out actually. The link is below. It would have been cheaper to dollar cost average back when it was .25 cent. I'll add more now that the RS is over. It's far more expensive now to do so however. Also Greece is still in a recession. So be cautious.

https://www.streetinsider.com/SEC+Filings/Form+6-K+NATIONAL+BANK+OF+GREECE+For%3A+Aug+31/14568347.html

https://www.reuters.com/article/nbg-results/update-1-greek-bank-nbg-swings-to-loss-in-q2-on-early-retirement-costs-idUSL8N1VM50V

[Tradernick5]

Buy NBGIF I have a price of $3.35 or should I wait for the earnings on Tuesday?

[Chriss777]

That's fine. The value of your portfolio hasn't changed. You made it through the storm. If you believe that Greece will continue to recover, then buy more and continue to hold for a few years. This is a long term investment.

[Tradernick5]

I only have 10k

[manhin00]

I have read the Press Release already

2018 Q2 is lost, but i dont know what is the item of "One-offs (VES Cost), it cost 40m.

1.
Main Data
Provisions
Q1: (120m)
Q2: (38m)

First Half of
2017: (432m)
2018: (158m)

2.
Total Asset
2017
Q1: 75.5b
Q2: 69.8b
Q3: 65.8b
Q4: 61.4b

2018
Q1: 61.5b
Q2: 62.8b


3.
Deposits
2017
Q1: 37.9b
Q2: 38.1b
Q3: 38.5b
Q4: 40.2b

2018
Q1: 40.3b
Q2: 41.2b

I still waiting their Q2 report, I want to see their cast flow.

[Chriss777]

So far NBGIF has held up. After the RS it opened at $3.00 and thus far is trading higher. I'm cautiously optimistic. ETE:GR appears to be trading again in line with NBGIF.

My Fidelity account just now settled back to normal after the RS and reflects the correct value. Next week should be interesting. I still have not seen the earnings report. So you don't have any shares as of right now?

https://www.bloomberg.com/quote/ETE:GA

[Tradernick5]

That's good to hear, I guess they are not trading in Athens today. price may jump higher after earnings' lets see.

[Chriss777]

I survived the reverse split. I have a few thousand shares left. Lets see what happens.

[Tradernick5]

Chris what is your perspective in all of this? We got screwed again 1/10? Terrible....Did you sell or held.

[manhin00]

This half year, it delisted the NBGGY and did RS today.

I think their half year result will be very good.
especially the Cash Flow.

as long term, it must be a good equity!!!
hope it can bring me from middle class to be a rich man.

[mrfence]

8/29 is RS so ETE should open @ $3.00 then earnings are out the 31st. I'm speculating they'll be very positive

[Jovo]

Exiting :)

Thanks for your opinion.

J