National Bank of Greece of National Bank of Greece, NBG

The National Bank of Greece (National Bank of Greece, NBG — for 2014 one of the largest and the oldest bank of Greece. The headquarters — in Athens.

Owners

For August, 2014 the most part of NBG belongs to rescue fund HFSF of Greece as the bank was saved by the state during the Greek debt crisis of 2010.

Assets

For March 31, 2014 the network of bank includes 531 departments and 1400 ATMs in Greece. Outside Greece 1235 departments work. Number of employees of banking group - 35,244 persons.

For August, 2014 assets of bank include the following organizations:

In Greece

• National Bank of Greece S.A.
• Ethniki Hellenic General Insurance S.A.
• NBG Securities S.A.
• NBG Asset Management Mutual Funds S.A.
• Ethniki Leasing S.A.
• Ethniki Factors S.A.
• Ethniki Kefalaiou S.A.
• NBG Pangaea REIC

In Cyprus

• National Bank of Greece (Cyprus) Ltd
• Ethniki Insurance (Cyprus) Ltd
• NBG Securities SA

In Turkey

• Finansbank
• Finans Pension
• Finans Invest
• Finans Leasing
• Finans Asset Management
• Finans Factoring

In Bulgaria

• United Bulgarian Bank AD
• Interlease EAD
• UBB Factoring
• UBB - Chartis Insurance Company AD
• UBB - Alico Life Insurance Company AD
• UBB Insurance Broker AD

In Romania

• Banca Romaneasca SA
• NBG Leasing IFN SA
• NBG Securities Romania SA
• Garanta Asigurari SA

In Macedonia

• Stopanska Banka AD - Skopje

In Albania

• Banka NBG Albania Sh.A.

In Egypt

• NBG Egypt Network

IN THE REPUBLIC OF SOUTH AFRICA

• The South African Bank of Athens Ltd

In Britain

• NBG London Branch
• NBGI Private Equity Ltd
• NBG Securities SA

On Malta

• NBG Bank Malta Ltd

In Australia

• NBG Melbourne Representative Office

In Serbia

• Vojvodjanska Banka AD - Novi Sad (it is sold in 2017)
• NBG Leasing d.o.o. (it is sold in 2017)

History

2017: Sale of the Serbian Vojvodjanska Banka for 125 million euros

In August, 2017 National Bank of Greece signed the agreement with OTP banka Serbia (OTP Group) on sale of 100% in Serbian "subsidiary" – Vojvodjanska Banka.

As a result of this acquisition of OTP banka Serbia became the 7th largest participant of the market of the country with a market share of 5.7%.

Except Vojvodjanska banka banking institution, OTP Group purchases in property and other assets of NBG Group in Serbia, in particular, the NBG Leasing leasing company.

The acquisition value which OTP banka Serbia will pay after closing of the transaction is 125 million euros. It is expected that closing of the transaction will be complete by the end of 2017.

2014: Sale of assets

In the summer of 2014 of NBG sells assets to increase capital level before the European stress tests. On August 4, 2014 it became known that departments of direct investments of Goldman Sachs and Deutsche Bank should close the deal on the redemption of department NBGI Private Equity Ltd soon. The sources close to a situation announced that Goldman Sachs Asset Management and DB Private Equity conducted negotiations with one of four large banks of Greece on purchase of NBGI Private Equity Ltd. Transaction amount should be 300 million pounds. Banks did not begin to comment on a situation. The press secretary of NBG told that the bank is at final stages of decision-making, however it is not accepted^[1] yet^[1].

2008: Write-off of $19 billion

In 2008 the National Bank of Greece strongly suffered from the Greek debt crisis. The bank was forced to write off $19 billion.

2006: Sale of the American division for $400 million

In the 2006th year of NBG sold New York Community Bancorp the American division (Atlantic Bank of New York) for $400 million (€331 million) cash.

In April, 2006 the bank acquired 46% of shares of the Turkish Finansbank for $2.8 billion, and in 2007 increased the share in is mute to 80%.

For 2006 the bank possessed 600 departments; it controlled about 30% of private deposits of Greece. The bank serviced the government of Greece which possesses 23% of its stocks. The bank is provided in 15 countries.

Capitalization of NBG for April, 2006 — $15.88 billion.

2000-2005: Expansion in Southeast Europe, withdrawal from North America

In April, 2000 during the joint transaction with the EBRD and NBG acquired a controlling stake in Stopanska Banka (Skopje, the Republic of Macedonia).

In July of the same year the National Bank of Greece received 89.9% of the Bulgarian United Bulgarian Bank (UBB).

Extending in Southeast Europe, NBG at the same time handed over positions in North America and other regions in which it served as bank of the Greek diaspora.

In the 2005th Bank of Nova Scotia redeemed from NBG all business in Canada.

In 2005 the net profit of NBG — $877.36 million, assets on the end of the year — $72.9 billion, the loan portfolio — $35.61 billion.

1998: Merge to National Mortgage Bank of Greece

In 1998 there was a merge to National Mortgage Bank of Greece.

1880: Share placing on the Athens exchange

In 1880 right after the beginning of work of the Athens exchange carried out on it share placing.

1857: Merge to Bank of Athens

In 1857 the bank merged with Bank of Athens.

1841: Foundation of bank with a banknote issuing authority

It is founded in 1841 by the Swiss banker Jean-Gabriel Eynard and Georgios Stavros as commercial bank. Stavros was elected the first director of bank and remained at this position to the death in 1869.

From the date of the basis till 1928 when the Bank of Greece was founded, NBG had a banknote issuing authority.

Notes