National Bank of Greece

This article is about a major commercial bank in Greece. For the central bank of Greece, see Bank of Greece.

37°58′51.6″N 23°43′44.5″E / 37.981000°N 23.729028°E / 37.981000; 23.729028

National Bank of Greece S.A.[1]
Native name
Εθνική Τράπεζα της Ελλάδος Α.Ε.[1]
Company typePublic
Athex: ETE
ISINGRS003003035[2]
IndustryFinancial services
Founded30 March 1841; 183 years ago (1841-03-30)[1] in Athens, Greece[3]
Headquarters
Athens
,
Greece
Number of locations
356 branches in Greece[4]
Area served
[5]
Key people
[6]
Revenue
  • Decrease €1.903 billion (2021)
[5]
  • Decrease €799 million (2021)
[5]
  • Increase €869 million (2021)
[5]
Total assets
  • Increase €83.958 billion (2021)
[5]
Total equity
  • Increase €5.772 million (2021)
[5]
OwnerHellenic Financial Stability Fund8%
Number of employees
8,800[4]
Subsidiaries
  • Bankteco
  • Ethniki Leasing
  • National Bank of Greece (Cyprus)
  • NBG Asset Management Luxembourg
  • NBG International (UK)
  • Stopanska Banka (94.64%)
[7]
Capital ratioCommon Equity Tier 1 capital = 15.7% (fully loaded Basel III)
Websitenbg.gr

The National Bank of Greece (NBG; Greek: Εθνική Τράπεζα της Ελλάδος) is a banking and financial services company with its headquarters in Athens, Greece. Founded in 1841 as the newly independent country's first financial institution, it has long been the largest Greek bank, a position it still held in the early 21st century.[8]: 89  Following the financial turmoil of the Greek government-debt crisis in the 2010s, it remains one of Greece's four dominant banks together with Alpha Bank, Eurobank Ergasias, and Piraeus Bank. It has been designated as a Significant Institution since the entry into force of European Banking Supervision in 2014, and as a consequence is directly supervised by the European Central Bank.[9][10] NBG offers financial products and services for corporate and institutional clients along with private and business customers. Services include banking services, brokerage, insurance, asset management, shipping finance, leasing and factoring markets.

The National Bank of Greece was Greece's dominant bank of issue from 1842 to 1928. As a consequence of Greece's territorial expansion, it shared the issuance privilege on a local basis with the Ionian Bank in the Ionian Islands between 1864 and 1920, with the Privileged Bank of Epirothessaly in those regions between 1882 and 1899, and with the Bank of Crete in Crete between 1899 and 1919.[8]: 89  In 1920, it recovered its original issuance monopoly following its acquisition of the Bank of Crete and revocation of the Ionian Bank's note-issuance privilege. That monopoly was transferred in 1928 to the Bank of Greece, newly established as the country's central bank under oversight of the Economic and Financial Organization of the League of Nations.

NBG has been listed on the Athens Stock Exchange since the latter's founding in 1880, and was also listed on the New York Stock Exchange from 1999 to 2015.(NYSE:NBG, ADR, ISIN US6336437057).[11] Its development has included major acquisitions such as those of the Privileged Bank of Epirothessaly in 1899,[8]: 89  the Bank of Crete in 1919, and the Bank of Athens in 1953.[12]

  1. ^ a b c "Στοιχεία Δημοσιότητας". Business Registry (in Greek). Union of Hellenic Chambers Of Commerce. Retrieved 23 January 2023.
  2. ^ "Profile". Athens Exchange Group. Retrieved 23 January 2023.
  3. ^ "Our History". National Bank of Greece. Retrieved 23 January 2023.
  4. ^ a b "Our National Bank". National Bank of Greece. Retrieved 23 January 2023.
  5. ^ a b c d e f "Group and Bank Annual Financial Report 31 December 2021" (PDF). National Bank of Greece. Retrieved 23 January 2023.
  6. ^ "Management & Organizational Structure". National Bank of Greece. Retrieved 23 January 2023.
  7. ^ "Annual Financial Report for the year ended 31 December 2021" (PDF). Eurobank Holdings. Retrieved 23 January 2023.
  8. ^ a b c Dimitrios Vasiliou (2003), "The Employment Of Modern Financial Tools In The Exercise Of Historical Analysis: The Case Of The National Bank Of Greece (1842-1941)", International Business and Economics Research Journal (2:12)
  9. ^ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
  10. ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  11. ^ "National Bank of Greece (NBG) Delisting Process to Begin". Yahoo Finance. 30 November 2015. Retrieved 1 December 2015.
  12. ^ Hubert Bonin (2001), "La Banque d'Athènes, point de jonction entre deux outre-mers bancaires (1904-1953)", Outre-mers (88:330-331): 53–70