0RCR Stock Overview

Provides financial products and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom. More details

0RCR fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	2/6
Financial Health	4/6
Dividends	3/6

Rewards

Trading at 51.1% below our estimate of its fair value

Earnings have grown 28.6% per year over the past 5 years

Analysts in good agreement that stock price will rise by 29.6%

Risk Analysis

Earnings are forecast to decline by an average of 7.5% per year for the next 3 years

Shares are highly illiquid

My Notes

Capture your thoughts, links and company narrative

National Bank of Greece S.A. Competitors

Halyk Bank of Kazakhstan

LSE:HSBK

US$4.9b

TBC Bank Group

LSE:TBCG

UK£1.7b

Bank of Georgia Group

LSE:BGEO

UK£2.0b

Standard Chartered

LSE:STAN

UK£23.6b

Price History & Performance

Summary of share price highs, lows and changes for National Bank of Greece
Historical stock prices
Current Share Price	€7.82
52 Week High	€8.52
52 Week Low	€6.38
Beta	1.81
1 Month Change	9.42%
3 Month Change	5.45%
1 Year Change	24.09%
3 Year Change	176.09%
5 Year Change	158.86%
Change since IPO	-99.99%

Recent updates

Shareholder Returns

	0RCR	GB Banks	GB Market
7D	-0.4%	-0.9%	-1.9%
1Y	24.1%	32.9%	2.6%

Return vs Industry: 0RCR underperformed the UK Banks industry which returned 32.9% over the past year.

Return vs Market: 0RCR exceeded the UK Market which returned 2.6% over the past year.

Price Volatility

Is 0RCR's price volatile compared to industry and market?
0RCR volatility
0RCR Average Weekly Movement	n/a
Banks Industry Average Movement	3.7%
Market Average Movement	4.8%
10% most volatile stocks in GB Market	10.7%
10% least volatile stocks in GB Market	2.6%

Stable Share Price: 0RCR's share price has been volatile over the past 3 months compared to the UK market.

Volatility Over Time: Insufficient data to determine 0RCR's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1841	8,005	Paul Mylonas	www.nbg.gr

National Bank of Greece S.A., together with its subsidiaries, provides financial products and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom. It operates through Retail Banking, Corporate & Investment Banking, Trouble Assets Unit & Specialized Asset Solutions, Global Markets and Asset Management, Insurance, International Banking Operations, and Other segments. The Retail Banking segment provides deposit, investment, bancassurance products, mortgage loans, consumer and small business lending, debit and credit cards, prepaid cards, and other traditional products and services for individual customers, professionals, and small-medium and small sized companies through its network of branches and digital businesses.

National Bank of Greece S.A. Fundamentals Summary

How do National Bank of Greece's earnings and revenue compare to its market cap?
0RCR fundamental statistics
Market cap	€6.92b
Earnings (TTM)	€1.30b
Revenue (TTM)	€2.80b

5.3x

P/E Ratio

0.8x

P/B Ratio

Is 0RCR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
0RCR income statement (TTM)
Revenue	€2.80b
Cost of Revenue	€17.00m
Gross Profit	€2.78b
Other Expenses	€1.48b
Earnings	€1.30b

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	1.43
Gross Margin	99.39%
Net Profit Margin	46.45%
Debt/Equity Ratio	55.6%

How did 0RCR perform over the long term?

See historical performance and comparison

Dividends

4.8%

Current Dividend Yield

26%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/24 12:20
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

National Bank of Greece S.A. is covered by 36 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Eleni Ismailou	Axia Ventures Group Ltd
Kirishanthan Vijayarajah	Barclays
Robert Bate	Barclays

0RCR Stock Overview

Rewards

Risk Analysis

National Bank of Greece S.A. Competitors

LSE:HSBK

US$4.9b

LSE:TBCG

UK£1.7b

LSE:BGEO

UK£2.0b

LSE:STAN

UK£23.6b

Price History & Performance

Recent News & Updates

Now 50% undervalued after recent price drop

Now 54% undervalued

Third quarter 2024 earnings released: EPS: €0.35 (vs €0.29 in 3Q 2023)

Now 50% undervalued after recent price drop

National Bank of Greece S.A. to Report Nine Months, 2024 Results on Nov 07, 2024

Second quarter 2024 earnings released: EPS: €0.34 (vs €0.29 in 2Q 2023)

Recent updates

Now 50% undervalued after recent price drop

Now 54% undervalued

Third quarter 2024 earnings released: EPS: €0.35 (vs €0.29 in 3Q 2023)

Now 50% undervalued after recent price drop

National Bank of Greece S.A. to Report Nine Months, 2024 Results on Nov 07, 2024

Second quarter 2024 earnings released: EPS: €0.34 (vs €0.29 in 2Q 2023)

Investor sentiment deteriorates as stock falls 65%

National Bank of Greece S.A. to Report Q2, 2024 Results on Aug 01, 2024

Inaugural dividend of €0.36 per share

National Bank of Greece S.A., Annual General Meeting, Jul 25, 2024

Investor sentiment deteriorates as stock falls 67%

First quarter 2024 earnings released: EPS: €0.39 (vs €0.28 in 1Q 2023)

National Bank of Greece S.A. to Report Q1, 2024 Results on May 01, 2024

New major risk - Revenue and earnings growth

Full year 2023 earnings released: EPS: €1.21 (vs €0.97 in FY 2022)

Investor sentiment deteriorates as stock falls 61%

National Bank of Greece S.A. to Report Q4, 2023 Results on Mar 12, 2024

Investor sentiment deteriorates as stock falls 60%

Investor sentiment deteriorates as stock falls 56%

National Bank of Greece S.A. (ATSE:ETE) commences an Equity Buyback Plan for 13,720,727 shares, representing 1.5% for €30 million, under the authorization approved on July 28, 2023.

National Bank of Greece S.A. (ATSE:ETE) commences an Equity Buyback Plan for 13,720,727 shares, representing 1.5% for €30 million, under the authorization approved on July 28, 2023.

Investor sentiment deteriorates as stock falls 55%

Now 25% undervalued after recent price drop

Investor sentiment deteriorates as stock falls 49%

National Bank of Greece S.A. to Report Q3, 2023 Results on Nov 07, 2023

Investor sentiment deteriorates as stock falls 44%

Now 39% undervalued

Investor sentiment deteriorates as stock falls 55%

Now 26% undervalued

Investor sentiment deteriorates as stock falls 53%

National Bank of Greece S.A. to Report Q2, 2023 Results on Aug 01, 2023

National Bank of Greece S.A., Annual General Meeting, Jul 28, 2023

New major risk - Revenue and earnings growth

Investor sentiment deteriorates as stock falls 54%

National Bank of Greece S.A. (ATSE:ETE) completed the acquisition of a 7.5% stake in loannis Michos.

First quarter 2023 earnings released: EPS: €0.30 (vs €0.13 in 1Q 2022)

Investor sentiment improves as stock rises 34%

National Bank of Greece S.A. to Report Q1, 2023 Results on May 23, 2023

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Now 39% undervalued

Investor sentiment deteriorated over the past week

Now 36% undervalued after recent price drop

Investor sentiment deteriorated over the past week

National Bank of Greece S.A. to Report Q3, 2022 Results on Nov 10, 2022

Second quarter 2022 earnings released: EPS: €0.21 (vs €0.026 in 2Q 2021)

National Bank of Greece S.A. to Report Q2, 2022 Results on Jul 29, 2022

High number of new directors

First quarter 2022 earnings released: EPS: €0.13 (vs €0.55 in 1Q 2021)

High number of new directors

National Bank of Greece S.A. to Report Q1, 2022 Results on May 27, 2022

Investor sentiment improved over the past week

High number of new directors

Investor sentiment improved over the past week

High number of new directors

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Investor sentiment deteriorated over the past week

National Bank of Greece S.A. to Report Fiscal Year 2021 Results on Mar 16, 2022

Investor sentiment deteriorated over the past week