National Bank group (NBG) on Tuesday reported 2022 after-tax profits reaching 1.120 billion euros, reflecting a 45-percent jump in the lender’s core profitability to 664 million euros.
NBG cited a strong recovery of net interest revenue, an impressive rise of net revenue from transaction commissions and a de-escalation of credit risk cost to 70 basis points throughout the past year.
NBG said its international activities recorded after-tax profits of 59 million euros in 2022, after a loss of 13 million euros in 2021.
In presenting the ATHEX-listed credit institution’s results to bank analysts, National Bank CEO Pavlos Mylonas said NBG also in talks with the Hellenic Financial Stability Fund (HFSF) over the prospect of a share buyback plan, while he added that a response on the dividend plan was expected by the end of July.
Mylonas said the bank was examining a Tier 2 bond issue in the second half of 2023 and that NBG is also studying other options in the framework of its MREL obligations.
National Bank said core profitability totaled 700 million euros in 2022, up from a guidance of 500 million, while after tax profits were up 29 percent on an annual basis. The bank’s NPE ratio dropped by around 80 bps on a quarterly basis and by around 180 bps on a year-on-year basis to 5.1 percent in Greece (5.2 percent at the Group level).
Domestic NPE coverage rose from 70 bps to a high of 88 percent.
Latest News
Bank of Greece Governor Says EU will Retaliate to Trump’s Tarrifs
The Bank of Greece Governor defended the independence of central banks amid criticism from U.S. President-elect Donald Trump, who had publicly commented on Federal Reserve Chair Jerome Powel
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bitcoin Surges Toward $100K Amid Pro-Crypto Optimism in US
According to Reuters, the cryptocurrency surged to an all-time high, briefly exceeding $96,898 during Asian trading hours.
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.
New Gov.gr Service Enables Secure Reporting of Minor-Related Delinquency
It should also be noted that via the recently introduced initiative ‘Safe Youth’ application citizens have access to specially tailored informative material regarding the safety of children and adolescents
Thousands Strike in Athens Over Soaring Living Costs and Stagnant Wages
Inflation, particularly in food prices, has been crushing Greek households
Greece Overhauls Property Valuation System
Greece plans to launch a revamped property value registry in 2025 and overhaul the way objective values are calculated to enhance tax revenue and improve transparency.
Greece’s New Tax Bill Foresees Tax Relief Beyond Big Business
Tax relief measures in Greece are proposed for freelancers, property owners and farmers, along with 'big business'
Unions Call Nationwide Industrial Strike for Wed.
Mass transits are usually affected, especially in the greater Athens-Piraeus area, although bus and metro services are curtailed but not fully halted