National Bank of Greece (ADR)(OTCMKTS:NBGGY)
National Bank of Greece (ADR)(OTCMKTS:NBGGY) shares traded with heavy volumes today with today’s figure being about 1/3 more than the stock’s 30-day average daily volume. NBGGY shares are up almost 75% from six months ago.
National Bank of Greece (ADR)(OTCMKTS:NBGGY) was established in 1841 and became the first bank in the modern Greek state. Currently, National Bank of Greece (ADR)(OTCMKTS:NBGGY) leads one of the largest and strongest financial groups in Greece, with a strong presence in Southeast Europe and Eastern Mediterranean and offers a broad range of financial products and services for businesses and individuals. With 558 Units and 1,448 ATMs, it has an extensive service network covering the entire geographical area of Greece, while at the same time it is developing alternative distribution channels for its products, such as the Mobile and Internet Banking services. Today, the bank has 536 branch offices and the entire Banking Group employs 15,515 employees.
National Bank of Greece (ADR)(OTCMKTS:NBGGY) has a reported to loan/deposit ratio of 88% which is about 25% better than its main Greek competitors. However it also has the highest cost/income ratio of its domestic competitors – 57%. Some experts believe that these ratios display a conservative approach to the country’s, and banking systems, current woes. It is also worth noting that some experts place National Bank of Greece (ADR)(OTCMKTS:NBGGY) tangible book value (TBV) at a premium to their share price as listed at the end of 2016.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.