![NBG CEO rules out share capital increase prospects](https://www.ot.gr/wp-content/uploads/2021/07/ImgSrc-28-1.jpg)
National Bank of Greece (NBG) and chairman of the executive committee Pavlos Mylonas on Friday ruled out the possibility of a share capital increase for the systemic bank, the oldest and most recognized in the country, while adding that the target is to distribute a dividend to shareholders soon.
In addressing a regular general assembly of shareholders in Athens, the Greek banking executive also expressed his optimism over the course of the Greek economy and his banking group’s future in the coming years.
Additinoally, he emphasized that the current juncture provides Greece with a major opportunity to change its production model and exploit investments.
Shareholders also formally elected former finance minister Gikas Hardouvelis as chairman of the board of directors, replacing Costas Mihailidis, who term ended.
Turning to the primary and standing problem plaguing Greece’s lenders, namely, NPLs, Mylonas reiterated that NBG’s commitment and target remains a reduction under 5 percent of total lending in 2022.
According to figures presented by the NBG CEO, “bad debt” was cut by 6.5 billion euros in 2020, with the NPEs index dropping to 13 percent in 2020, down from 32 percent at the end of 2019.
In terms of the four billion euros in NPLs still on the bank’s balance sheet, Mylonas referred to a higher provision forecast by 65 percent, meaning the actual exposure is 1.5 billion euros.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Greece’s Labor Market Trends; Job Vacancies Surge](https://www.ot.gr/wp-content/uploads/2024/04/ot_tourismos_ergazom-600x352.png)
Greece’s Labor Market Trends; Job Vacancies Surge
According to the latest data job openings soared to a record high of 70,826 positions in the first quarter of 2024, marking a remarkable 115.6% annual increase.
![Eurostat: Inflation in Greece and Euro area at 2.5% in June](https://www.ot.gr/wp-content/uploads/2024/07/inflation-2048x1365-1-600x400.jpg)
Eurostat: Inflation in Greece and Euro area at 2.5% in June
Final figures on inflation for Greece came in slightly worse than the preliminary figure of 2.4%, released by ELSTAT at the start of July
![Greece Acts to Protect Consumers amid Soaring Electricity Prices](https://www.ot.gr/wp-content/uploads/2024/07/photo_2024-07-17_16-15-21-600x399.jpg)
Greece Acts to Protect Consumers amid Soaring Electricity Prices
Skylakakis outlined the government's initiatives but withheld specifics regarding the emergency tax and bill subsidies, which are slated for finalization by late July.
![Cruise Industry Opposes New EU Plan for Piraeus Port](https://www.ot.gr/wp-content/uploads/2024/07/396121953_881827319967534_9198009856198617419_n-1024x793-1024x793-1-1-600x465.jpg)
Cruise Industry Opposes New EU Plan for Piraeus Port
According to the Plan, cruise ship passengers will be transported by shuttle boats from Piraeus port to the Peace and Friendship Stadium (SEF), so that they can then travel to Athens
![Greek State to Reopen 3.875% Bond on Wed.](https://www.ot.gr/wp-content/uploads/2024/07/bonds-2048x1365-1-600x400.jpg)
Greek State to Reopen 3.875% Bond on Wed.
Bond of 3.875% is set to mature on March 12, 2029
![Critical Week for Greece-Cyprus Cable](https://www.ot.gr/wp-content/uploads/2024/07/kalodio_elladas_cyprus_israil.jpeg)
Critical Week for Greece-Cyprus Cable
The study concluded that the social benefits of the interconnection, totaling 8 billion euros, far outweigh its 1.9 billion euros construction cost, resulting in a net social benefit exceeding 6 billion euros.
![Roberta Metsola Re-elected President of European Parliament](https://www.ot.gr/wp-content/uploads/2024/07/2024-07-16T110250Z_1107936467_RC2BW8AZP0U4_RTRMADP_5_EU-PARLIAMENT-2048x1366-1-600x400.jpg)
Roberta Metsola Re-elected President of European Parliament
Her second term will be for a period of two and a half years
![ELSTAT: 1.5% Increase in Business Turnover in May 2024](https://www.ot.gr/wp-content/uploads/2024/07/epixeiriseis_2-600x414.jpg)
ELSTAT: 1.5% Increase in Business Turnover in May 2024
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.
![Cosco: Container Traffic Decline at Piraeus Port Continues](https://www.ot.gr/wp-content/uploads/2024/07/olp1-scaled-1-2048x1312-1-600x384.jpg)
Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates