National Bank of Greece (NBG) CEO Pavlos Mylonas told financial analysts on Tuesday that the ATHEX-listed creditor will not distribute a dividend per share for 2022 profits, citing what he called “cautiousness” by regulators amid “instability” in the global banking sector.
In consolation, he appeared optimistic that NBG group, the second largest lender by assets in the country, will pay out a dividend to shareholders in 2024, based on 2023 results.
NBG announced 28-percent reduction in earnings in Q1 2023 results, citing lower trading income and one-off items.
Net profits totaled 260 million euros, down from 360 million euros over the same period last year, while it posted gains of 50 million euros from trading income, down from 120 million euros in the first quarter of 2022.
Net interest income grew by 73 percent, yoy, in the January-March 2023 period to 497 million euros, boosted by previous ECB rate hikes.
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