ATSE:ETE

Stock Analysis Report

National Bank of Greece

Executive Summary

National Bank of Greece S.A., together with its subsidiaries, provides financial services.

Snowflake

Fundamentals

Reasonable growth potential with adequate balance sheet.

Risks

  • National Bank of Greece has significant price volatility in the past 3 months.

Share Price & News

How has National Bank of Greece's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.2%

ATSE:ETE

3.3%

GR Banks

1.4%

GR Market


1 Year Return

47.6%

ATSE:ETE

34.3%

GR Banks

18.0%

GR Market

ETE outperformed the Banks industry which returned 34.3% over the past year.

ETE outperformed the Market in Greece which returned 18% over the past year.


Share holder returns

ETEIndustryMarket
7 Day1.2%3.3%1.4%
30 Day21.8%29.1%8.8%
90 Day17.0%2.3%3.4%
1 Year47.6%47.6%34.3%34.3%21.8%18.0%
3 Year34.3%34.3%29.7%29.7%64.6%49.8%
5 Year-99.3%-99.3%-18.7%-38.7%-79.7%-80.2%

Price Volatility Vs. Market

How volatile is National Bank of Greece's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is National Bank of Greece undervalued based on future cash flows and its price relative to the stock market?

29.72x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Unable to calculate intrinsic value for National Bank of Greece to establish if it is available at moderate discount.

Unable to calculate intrinsic value for National Bank of Greece to establish if it is available at substantial discount.


Price Based on Earnings

National Bank of Greece is overvalued based on earnings compared to the GR Banks industry average.

National Bank of Greece is overvalued based on earnings compared to the Greece market.


Price Based on Expected Growth

National Bank of Greece is good value based on expected growth next year.


Price Based on Value of Assets

National Bank of Greece is overvalued based on assets compared to the GR Banks industry average.


Next Steps

Future Growth

How is National Bank of Greece expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

36.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

National Bank of Greece's revenue is expected to grow by 5% yearly, however this is not considered high growth (20% yearly).

National Bank of Greece's earnings are expected to grow significantly at over 20% yearly.

National Bank of Greece's revenue growth is expected to exceed the Greece market average.

National Bank of Greece's earnings growth is expected to exceed the Greece market average.

National Bank of Greece's earnings growth is expected to exceed the low risk savings rate of 4.9%.


Earnings per Share Growth Estimates


Future Return on Equity

National Bank of Greece is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has National Bank of Greece performed over the past 5 years?

11.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

National Bank of Greece's year on year earnings growth rate has been positive over the past 5 years.

National Bank of Greece has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.

National Bank of Greece has become profitable in the last year making it difficult to compare the Europe Banks industry average.


Return on Equity

National Bank of Greece has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

National Bank of Greece used its assets less efficiently than the GR Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if National Bank of Greece improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is National Bank of Greece's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

National Bank of Greece has an acceptable proportion of non-loan assets held.

National Bank of Greece has a low allowance for bad loans.

National Bank of Greece's liabilities are made up of primarily low risk sources of funding.

National Bank of Greece's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Loans at National Bank of Greece are broadly funded by customer deposits.

National Bank of Greece has a high level of bad loans (greater than 2%).


Next Steps

Dividend

What is National Bank of Greece's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate National Bank of Greece's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate National Bank of Greece's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as National Bank of Greece has not reported any payouts.

Unable to verify if National Bank of Greece's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as National Bank of Greece has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of National Bank of Greece's dividends in 3 years as they are not expected to pay a notable one for Greece.


Next Steps

Management

What is the CEO of National Bank of Greece's salary, the management and board of directors tenure and is there insider trading?

1.2yrs

Average management tenure


CEO

Paul Mylonas (61yo)

1.3yrs

Tenure

0

Dr. Pavlos Konstantinos Mylonas, also known as Paul, Ph.D. serves as Chairman of the Board of Directors of Vojvodjanska Banka AD and Non-Executive Chairman of the Board of Direcotrs at NBG Cyprus Ltd. He i ...


Management Age and Tenure

1.2yrs

Average Tenure

64.5yo

Average Age

The average tenure for the National Bank of Greece management team is less than 2 years, this suggests a new team.


Board Age and Tenure

1.2yrs

Average Tenure

66yo

Average Age

The average tenure for the National Bank of Greece board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Paul Mylonas (61yo)

    CEO & Executive Director

    • Tenure: 1.3yrs
  • Christos Christodoulou

    GM & Group CFO

    • Tenure: 0.2yrs
  • Dimitrios Dimopoulos (72yo)

    • Tenure: 0.7yrs
  • Panos Dasmanoglou (56yo)

    GM of Group Compliance & Corporate Governance and Secretary

    • Tenure: 2.8yrs
  • Dimitrios Kapotopoulos (68yo)

    Executive Director

    • Tenure: 0.7yrs
  • George Triantafillakis

    General Manager of Legal Services

    • Tenure: 2.4yrs
  • Gregory Papagrigoris

    Head of IR

    • Tenure: 0yrs
  • Vasilis Karamouzis

    Assistant General Manager of Corporate & Investment Banking

    • Tenure: 2yrs
  • Stratos Molyviatis

    ?Assistant GM & Group Chief Information Officer

    • Tenure: 1.1yrs
  • Aris Divaris

    ?Assistant General Manager of Operations

    • Tenure: 0.8yrs

Board Members

  • Nicholas Beis (67yo)

    MD & Director of National Bank of Greece - Cyprus

    • Tenure: 9.5yrs
  • Paul Mylonas (61yo)

    CEO & Executive Director

    • Tenure: 1.3yrs
  • Mehmet Ömer Aras (65yo)

    Chairman & CEO of Finansbank

    • Tenure: 0yrs
  • Diomidis Nikoletopoulos (55yo)

    Chairman & CEO of Stopanska Banka

    • Tenure: 0yrs
  • Costas Michaelides (70yo)

    Non Executive Chairman

    • Tenure: 1.7yrs
  • Ioannis Kougionas

    CEO & Director of Banca Romaneasca

    • Tenure: 4.8yrs
  • Christina Theofilidi

    Executive Director

    • Tenure: 0.2yrs
  • Dimitrios Kapotopoulos (68yo)

    Executive Director

    • Tenure: 0.7yrs
  • Aikat Beritsi

    Non-Executive Vice President

    • Tenure: 0.2yrs
  • Aikaterini Mperitsi

    Non-Executive Vice Chairman of the Board

    • Tenure: 0.2yrs

Company Information

National Bank of Greece S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: National Bank of Greece S.A.
  • Ticker: ETE
  • Exchange: ATSE
  • Founded: 1841
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €2.406b
  • Shares outstanding: 914.06m
  • Website: https://www.nbg.gr

Number of Employees


Location

  • National Bank of Greece S.A.
  • 86 Eolou Street
  • Athens
  • 105 59
  • Greece

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NBG NBMV (Bolsa Mexicana de Valores)SPON ADR EA REP 1 ORD (POST REV SPLT)MXEURNo data
ETEATSE (The Athens Stock Exchange)EUR0.30GREURNo data
ETEATSE (The Athens Stock Exchange)YesOrdinary SharesGREURNov 1985
NAGFDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 1985
NBGI.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 1985
NBGC.YOTCPK (Pink Sheets LLC)UNSPONSRED ADSUSUSDJun 2019

Biography

National Bank of Greece S.A., together with its subsidiaries, provides financial services. It operates through Retail Banking, Corporate & Investment Banking, Special Assets Unit, Global Markets and Asset  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/18 20:47
End of Day Share Price2019/09/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.