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Nat. Bank Of Greece (NBGA)

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Tuesday 17 March, 2009

Nat. Bank Of Greece

NBG Group results 12-month fi

RNS Number : 0110P
National Bank Of Greece
17 March 2009
 



NBG Group results

12-month financials 2008

Athens, 17 March 2009

€ millions

2008

2007

Δ

Attributable profit

1 546

1 625

-5%

Net profit from domestic operations

920

1 019

-10%

Net profit from Finansbank *

470

407

+15%

Net profit from SE Europe

202

157

+28%





Return on equity

26.2%

26.1%

+0.1%

Cost/income

46.6%

51.0%

-4.4%

NPL ratio

3.3%

3.4%

-0.1%


Total assets (€ bn)

101

90

+12%

Loans / Deposits

95%

90%

+5%





Tier I capital adequacy (%)

10.4%

9.2%

+1.2%

Total capital adequacy (%)

10.9%

10.2%

+0.7%

* Not including the results from Finansbank's tax affairs. 

 


Despite the rapid deterioration in this unprecedented global crisis, which hit the global banking system particularly hard in the last quarter of the year, the NBG Group's results for Q4 2008 and the year as a whole demonstrate the soundness of our business model. 

The Group's strong earnings before provisionsbased on recurring sources of income and strict cost controls
enabled us at this time of unremitting turbulence in the global markets to pursue a prudent provisioning policy without detriment to the performance of the Group relative to 2007 

Our conservative and prudent risk management policy throughout the expansionary phase of the economic cycle has enabled us to confront the impact of the economic crisis from a position of strength.

In the months ahead we shall step up our efforts to enhance yet further our robust capital basemaintain satisfactory 
levels of liquidity and keep strict credit criteria in place so as to sustain the first-class quality of the Group's loan book in the event that the global situation takes a further downturn. 

At the same time, we shall continue to supply a steady flow of financing to healthy business and households, while taking new initiatives to support specific segments of the economy and the more vulnerable members of our community who have been hit by the unfolding crisis. 

AthensMarch 2009
Takis Arapoglou
Chairman and CEO

 

Click on, or paste the following link into your web browser, to view the associated PDF document:

http://www.rns-pdf.londonstockexchange.com/rns/0110P_-2009-3-17.pdf


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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