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NBG...doubles it's surplus for 2013

National Bank of Greece seals $880 mln property deal boosting its capital base.



http://www.reuters.com/article/2013/11/25/greece-nbg-idUSL5N0JA3TI20131125

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11-21-13

Greece doubles it's surplus for 2013 and is even predicting a return to nominal growth again in 2014


http://247wallst.com/banking-finance/2013/11/21/nbg-must-like-a-greek-budget-surplus/

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11-27-13

NBG cuts bad loan provisions as economy improves

(NBG) , the country's largest lender, returned to profit in the nine months ended September, helped by Turkish unit Finansbank and an improving Greek economy, which allowed it to cut provisions for bad loans.

The bank made net earnings of 262 million euros ($355 million) compared with a loss of 2.45 billion euros in the same period last year, it said on Wednesday.

"NBG Group posted positive earnings in the first nine months of 2013, mainly due to the ongoing slowdown in NPL (non-performing-loans) creation in Greece and the improvement in the economic climate, which allowed for write-backs of provisions on claims and lower trading losses," NBG's Chief Executive Officer Alexandros Tourkolias said in a statement.

New loan delinquencies in Greece fell to 1.2 billion euros from 3.1 billion in the same period last year, NBG said.

As a result, the lender cut provisions for bad loans by 34 percent year-on-year to 1.24 billion euros.

Greece's six-year recession eased to its slowest pace since 2010 in the third quarter, with the economy shrinking by 3.0 percent year-on-year.

The economy is expected to start growing again next year, albeit by an anaemic 0.6 percent, according to EU/IMF estimates.

Turkish unit Finansbank grew profit by 3 percent to 412 million euros year-on-year, NBG said, despite tighter monetary policy and regulation in Turkey.

Like other Greek banks, NBG also continued to benefit from lower funding costs in the third quarter after cuts in deposit rates and reduced borrowing from the Greek central bank's liquidity facility (ELA), which is costlier than European Central Bank funds.


http://www.reuters.com/article/2013/11/27/greece-results-national-idUSL5N0JC3OP20131127

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https://www.google.com/finance?q=nbg&ei=qAyYUpCJF6TisQeQfQ







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