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National Bank of Greece

Executive Summary

National Bank of Greece S.A., together with its subsidiaries, provides financial products and services in Greece, the United Kingdom, North Macedonia, Romania, Cyprus, Malta, and Egypt.


Snowflake Analysis

Solid track record with adequate balance sheet.

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

Stable Share Price: ETE's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.3%

ETE

-1.0%

GR Banks

0.4%

GR Market


1 Year Return

-42.8%

ETE

-47.4%

GR Banks

-16.2%

GR Market

Return vs Industry: ETE exceeded the Greek Banks industry which returned -47.4% over the past year.

Return vs Market: ETE underperformed the Greek Market which returned -16.2% over the past year.


Shareholder returns

ETEIndustryMarket
7 Day-2.3%-1.0%0.4%
30 Day-7.1%-3.7%1.2%
90 Day15.2%17.3%7.0%
1 Year-42.8%-42.8%-47.4%-47.4%-12.7%-16.2%
3 Year-68.7%-68.7%-69.7%-69.7%-12.5%-20.1%
5 Year-98.4%-98.4%-29.4%-46.2%-24.6%-31.6%

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 compared to its fair value and its price relative to the market?

2.22x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate ETE's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate ETE's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: ETE is good value based on its PE Ratio (2.2x) compared to the XE Banks industry average (9.5x).

PE vs Market: ETE is good value based on its PE Ratio (2.2x) compared to the Greek market (13.9x).


Price to Earnings Growth Ratio

PEG Ratio: ETE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ETE's PB Ratio (0.2x) is in line with the GR Banks industry average.


Next Steps

Future Growth

How is National Bank of Greece forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

-6.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ETE's earnings are forecast to decline over the next 3 years (-6.8% per year).

Earnings vs Market: ETE's earnings are forecast to decline over the next 3 years (-6.8% per year).

High Growth Earnings: ETE's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ETE's revenue is expected to decline over the next 3 years (-7.8% per year).

High Growth Revenue: ETE's revenue is forecast to decline over the next 3 years (-7.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ETE's Return on Equity is forecast to be low in 3 years time (5%).


Next Steps

Past Performance

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

80.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ETE has high quality earnings.

Growing Profit Margin: ETE's current net profit margins (29.6%) are higher than last year (7.8%).


Past Earnings Growth Analysis

Earnings Trend: ETE has become profitable over the past 5 years, growing earnings by 80.7% per year.

Accelerating Growth: ETE's earnings growth over the past year (418.2%) exceeds its 5-year average (80.7% per year).

Earnings vs Industry: ETE earnings growth over the past year (418.2%) exceeded the Banks industry -4.5%.


Return on Equity

High ROE: ETE's Return on Equity (8.7%) is considered low.


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


Financial Institutions Analysis

Asset Level: ETE's Assets to Equity ratio (13.9x) is moderate.

Allowance for Bad Loans: ETE has a low allowance for bad loans (57%).

Low Risk Liabilities: 68% of ETE's liabilities are made up of primarily low risk sources of funding.

Loan Level: ETE has an appropriate level of Loans to Assets ratio (39%).

Low Risk Deposits: ETE's Loans to Deposits ratio (62%) is appropriate.

Level of Bad Loans: ETE has a high level of bad loans (29.8%).


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ETE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ETE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ETE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ETE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ETE is not paying a notable dividend for the Greek market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ETE's dividend in 3 years as they are not forecast to pay a notable one for the Greek market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

Paul Mylonas (62 yo)

2.25yrs

Tenure

€336,495

Compensation

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 ...


Leadership Team

NamePositionTenureCompensationOwnership
Pavlos Mylonas
CEO & Executive Director2.25yrs€336.50kno data
Panagiotis – Ioannis Dasmanoglou
GM of Group Compliance & Corporate Governance and Secretary3.67yrs€137.08k0.000010%
€ 102.8
Dimitrios Dimopoulos
1.58yrs€16.00kno data
Christina Theofilidi
Executive Director1.08yrs€120.83kno data
Christos Christodoulou
GM & Group CFO1.08yrsno datano data
Nektarios Divaris
?Assistant General Manager of Operations1.75yrsno datano data
Vasilis Karamouzis
General Manager of Corporate & Investment Banking2.92yrsno datano data
Stratos Molyviatis
?Assistant GM & Group Chief Information Officer2yrsno datano data
Gregory Papagrigoris
Head of IRno datano datano data
Georgios Triantafillakis
General Manager of Legal Services3.33yrsno datano data
Chara Dalekou
General Manager of Group Marketing1.42yrsno datano data
Evi Hatzioannou
?General Manager of Group Human Resources Strategy & Development1.42yrsno datano data

1.9yrs

Average Tenure

59.5yo

Average Age

Experienced Management: ETE's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Pavlos Mylonas
CEO & Executive Director2.25yrs€336.50kno data
Christina Theofilidi
Executive Director1.08yrs€120.83kno data
Mehmet Ömer Aras
Chairman & CEO of Finansbankno datano datano data
Diomidis Nikoletopoulos
Chairman & CEO of Stopanska Bankano datano datano data
Ioannis Kougionas
CEO & Director of Banca Romaneasca5.67yrsno datano data
Nicholas Beis
MD & Director of National Bank of Greece - Cyprus10.42yrsno datano data
Claude Edgard Piret
Independent Non-Executive Director3.75yrs€113.99kno data
Costas Michaelides
Non Executive Chairman2.58yrs€257.39kno data
Andrew McIntyre
Independent Non-Executive Director2.33yrs€102.80kno data
Aikaterini Beritsi
Non-Executive Director1.08yrs€74.50kno data
Elena Cernat
Independent Non-Executive Director1.08yrs€42.04kno data
Anne Bouchacourt
Independent Non-Executive Director0.33yrno datano data

2.5yrs

Average Tenure

64.5yo

Average Age

Experienced Board: ETE's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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: €1.028b
  • Shares outstanding: 914.34m
  • 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
ETEATSE (The Athens Stock Exchange)YesOrdinary SharesGREURNov 1985
NAGFDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 1985
0RCRLSE (London Stock Exchange)YesOrdinary SharesGBEURNov 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 products and services in Greece, the United Kingdom, North Macedonia, Romania, Cyprus, Malta, and Egypt. The company operate ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/14 10:34
End of Day Share Price2020/08/13 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.