Irlandos: /* History */

2008-06-27T08:18:15Z

History

Irlandos at 08:17, June 27, 2008

2008-06-27T08:17:45Z

Irlandos: New page: The '''National Bank of Greece''' ('''NBG'''; Greek: '''Εθνική Τράπεζα της Ελλάδος''') is the oldest and largest commercial bank in Greece and...

2008-06-27T08:15:58Z

New page: The '''National Bank of Greece''' ('''NBG'''; Greek: '''Εθνική Τράπεζα της Ελλάδος''') is the oldest and largest commercial bank in Greece and...

New page

The '''National Bank of Greece''' ('''NBG'''; [[Greek language|Greek]]: '''Εθνική Τράπεζα της Ελλάδος''') is the oldest and largest commercial bank in [[Greece]] and heads the strongest financial group in the country. It boasts a dynamic profile internationally, particularly in Southeastern Europe and the Eastern Mediterranean]. It owns subsidiaries in over 18 countries, including Bulgaria, [[Cyprus]], the former Yugoslav Republic of Macedonia, Romania, Russia, Serbia, South Africa, Switzerland, The Netherlands, Turkey and Egypt.

Founded in [[1841]] as a commercial bank, NBG enjoyed the right to issue banknotes until the establishment of the [[Bank of Greece]] in [[1928]]. It has been listed on the [[Athens Stock Exchange]] since the Exchange's foundation in [[1880]]. Since October [[1999]], the Bank has been listed on the New York Stock Exchange. NBG is a financial institution legally operating subject to the Greek and the European Union banking legislation, specifically the provisions, as currently applicable, of Law 2076/92, which incorporated the second banking directive 89/646/EEC into Greek law. The NBG Group provides a full range of financial products and services that meet the constantly changing needs of corporate customers and private individuals, including investment banking services, brokerage, insurance, asset management, leasing and factoring. <ref>[http://www.nbg.gr] National Bank of Greece site. </ref>

The Bank's branch and ATM network, the largest in [[Greece]] (568 domestic banking units and 1370 ΑΤΜs), effectively covers the entire country. It is developing and expanding alternative distribution channels for its products, such as mobile and internet banking. Today, after recent acquisitions in South Eastern Europe the Group's network overseas includes 868 units. One of the Bank's main strengths is the confidence shown in it by its customers, who hold over 9 million deposit accounts and more than 1.5 million lending accounts with NBG. Having reaffirmed its leading position in the [[Greece|Greek]] market, the bank is further modernizing its operations, backed by investment in new technology, so as to better serve its customers and enhance its profitability. <ref>[http://www.nbg.gr] National Bank of Greece site. </ref>
<br><br>
Headquarters : [[Eolou]] 86, 102 32 [[Athens]]. Tel. +30 210 3341000

==History==

*NBG was founded in [[1841]] in [[Athens]], making it the oldest bank in the country. It was not government-owned from its inception but had the right of note issue, which it lost in [[1928]] when the newly-established [[Bank of Greece]] took over as the country's central bank.<ref> Tschoegl, A. 2004. Financial Integration, Dis-integration and Emerging Re-integration in the Eastern Mediterranean, c.1850 to the Present. ''Financial Markets, Instruments and Institutions'' 13 (5): 244-284.</ref> Its status was changed to government-owned when, during the first World War, the Bank refused to finance new military equipment for the Greek government. The government then issued legislation that permitted it to appoint its own people to the Bank's board.
*In [[1899]] NBG acquired the Privileged Bank of Epirothessaly (Pronomiouchos Trapeza Epirothessalias).
*In [[1904]] NBG established Banque d’Orient, together with Nationalbank für Deutschland, which almost immediately withdrew from the venture. The Greeks kept the branches in [[Thessaloniki]], [[Smyrna]] and [[Alexandria]].
*In [[1907]] NBG chose [[Cyprus]] as the location for its first branch outside [[Greece]].
*In [[1919]] NBG acquired the [[Bank of Crete]] (Trapeza Kritis).
*In [[1923]] the [[Treaty of Lausanne]] provided for a compulsory exchange of populations between [[Greece]] and Turkey, leading to the departure of the Greeks from [[Smyrna]], resulting in the closure of Banque d’Orient's branch.
*In [[1930]] NBG and Bank of Athens combined their activities in Egypt into a joint subsidiary, Banque Nationale de Grèce et d’Athènes.
*In [[1932]] NBG acquired Banque d'Orient (Trapeza Anatolis).
*In [[1939]] it established a subsidiary in New York, Hellenic Bank Trust Company.
*In [[1947]] NBG established the South African Bank of Athens to serve Greek residents in South Africa.
*In [[1953]] the Greek government forced NBG to merge with Bank of Athens to form National Bank of Greece and [[Athens]], later shortened to National Bank of Greece.
*In [[1960]] Egypt nationalised all banks in Egypt, including Banque Nationale de Grèce et d’Athénes, which it merged into National Bank of Egypt.
*In [[1965]] NBG acquired Trapeza Epagelmatikis Pistis.
*In [[1978]] the Greek government permitted the formation of Arab Hellenic Bank with 49% Arab ownership, as an exception to its prohibition on foreign banks owning more than 40% of the equity of a Greek bank. NBG held 51% and provided most of the bank staff. The Libyan Arab-Foreign Bank and Kuwaiti Investment Organisation held 40% between them while other Arab investors held 9%. That same year NBG opened a branch in Cairo.
*In [[1994]] NBG incorporated its branches in Cyprus into a subsidiary: National Bank of Greece (Cyprus)
*In [[1995]] the Greek government dissolved the insolvent Arab Hellenic Bank at a cost to [[Greece]]'s Deposit Guarantee Fund of Euro 1.5m in payments to depositors.
*In [[1998]] NBG merged with the [[National Mortgage Bank of Greece]] (Ethniki Ktimatiki Trapeza Ellados), itself the result of the merger of the National Mortgage Bank and the National Housing Bank of Greece.
*In July, [[2000]] National Bank of Greece acquired 89.9% of the United Bulgarian Bank (UBB).
*In April, [[2000]], in a joint deal with the [[European Bank for Reconstruction and Development]] (EBRD) and IFC, NBG acquired a majority stake in Stopanska Banka (Skopje, former Yugoslav Republic of Macedonia).
*In [[2002]] NBG merged with ETEBA – National Investment Bank for Industrial Development.
*In [[2002]] National Bank of Greece's attempted merger with [[Alpha Bank]] fell through.
*In [[2003]] NBG bought Banca Romaneasca, a Romanian bank, and currently holds 88.7% of all outstanding shares. Banca Romaneasca has 90 branches.
*In [[2005]] Bank of Nova Scotia acquired all of NBG's operations in Canada.
*In [[2005]], as part of the NBG Group's ongoing effort to improve its portfolio structure and effectively respond to changes in the domestic and international markets, the Boards of Directors of National Bank of Greece S.A. and National Investment Company S.A. decided to merge the two companies through absorption of the latter by the Bank. <ref>[http://www.nbg.gr/en/pr_release_resp.asp?P_ID=221] National Bank of Greece Press Release (Athens, 13 May 2005) </ref>
*In [[2006]] NBG acquired 46% of the shares of Finansbank in Turkey.
*In [[2006]] NBG acquired 99.44% of Serbia's Vojvođanska Bank for €385 mn.
*In [[2006]] NBG sold its US arm, [[Atlantic Bank of New York]], to New York Community Bancorp for US$400 million (€331 million) in cash. Proceeds from the sale will help finance further acquisitions in southeast Europe.
*On January 9, 2007 the National Bank of Greece announced that it had increased its stake in Finansbank to 80.4 percent. NBG, in a statement issued to the [[Athens Stock Exchange]], said it had acquired the additional 34.4 percent in Finansbank from minority shareholders which adds to its already existing 46% stake. Hüsnü Özyeğin reported in the initial press conference when NBG announced its 46% share purchase that he would have "loved to have been offered National Bank of Greece shares instead of cash, however there were no shares available" (outside of the current shares floated in the free market).
*On January 25, [[2007]] NBG announced the merger between National Bank of Greece and National Management & Organization Co (Ethnokarta). Given that NBG holds 100% of National Management & Organization Co (Ethnokarta) shares, NBG’s share capital will not increase following the completion of the merger.
*On March 21, [[2007]] NBG concluded the acquisition of P&K Investment Services SA. Following the approvals from the regulatory authorities (the Bank of Greece, the Competition Committee and the Capital Market’s Committee) and the fulfillment of all the remaining conditions of the share purchase agreement, the National Bank of Greece (NBG) and the shareholders of P&K Investment Services SA concluded the transaction today, signing the documents for the transfer of shares of P&K Investment Services SA (parent company of P&K Securities and P&K Mutual Fund Company) to the National Bank of Greece. In 2006, the financial results of P&K Investment Services improved further. Profits after tax (on a consolidated level) amounted to € 10.3mn (+147% compared with 2005), while total shareholders’ funds reached € 31mn from € 21.4mn at the end of 2005. As a result, the total consideration for the acquisition of P&K Investment Services, which had been set at €48.7mn, corresponds to 1.6x the company’s total shareholders’ funds or 4.7x its after-tax profits. With the completion of this acquisition, the largest provider of brokerage and investment services is created in Greece, with the aim of expanding its business in all countries where NBG has a presence.

==Notes==
<references/>

==External links==
* [http://www.nbg.gr National Bank of Greece Official Site]
* [http://biz.yahoo.com/ap/070222/greece_national_bank.html?.v=1 News (Feb. 22, 2007) ~ National Bank of Greece Expects Annual Growth to Exceed 30 Percent for Next 3 Years]
* [http://www.fool.com/investing/international/2007/02/22/national-bank-of-greece-delivers.aspx News (Feb. 22, 2007) ~ National Bank of Greece Delivers]
* [http://www.easier.com/view/Finance/Investments/Funds/article-111703.html News (Apr. 26, 2007) ~ Greece and Germany have helped F&C's European Dynamic fund]
* [http://investing.reuters.co.uk/news/articleinvesting.aspx?type=managerViews&storyID=2007-04-26T102855Z_01_NOA637510_RTRUKOC_0_CITYWIRE-SWIP.xml News (Apr. 26, 2007) ~ Greece is the word for top quality management]
*[http://www.abcmoney.co.uk/news/25200777521.htm News (May 25, 2007) ~ NBG CEO Sees More Local M&A Developments in Banking System]

{{Credit wikipedia}}

[[Category:Banks]]
[[Category:Companies of Greece]]

@@ Line 27: / Line 27: @@
 *In [[1998]] NBG merged with the [[National Mortgage Bank of Greece]] (Ethniki Ktimatiki Trapeza Ellados), itself the result of the merger of the National Mortgage Bank and the National Housing Bank of Greece.
 *In July, [[2000]] National Bank of Greece acquired 89.9% of the United Bulgarian Bank (UBB).
-*In April, [[2000]], in a joint deal with the [[European Bank for Reconstruction and Development]] (EBRD) and IFC, NBG acquired a majority stake in Stopanska Banka (Skopje, former Yugoslav Republic of Macedonia).
+*In April, [[2000]], in a joint deal with the European Bank for Reconstruction and Development (EBRD) and IFC, NBG acquired a majority stake in Stopanska Banka (Skopje, former Yugoslav Republic of Macedonia).
 *In [[2002]] NBG merged with ETEBA &ndash; National Investment Bank for Industrial Development.
 *In [[2002]] National Bank of Greece's attempted merger with [[Alpha Bank]] fell through.

@@ Line 5: / Line 5: @@
 The Bank's branch and ATM network, the largest in [[Greece]] (568 domestic banking units and 1370 ΑΤΜs), effectively covers the entire country. It is developing and expanding alternative distribution channels for its products, such as mobile and internet banking. Today, after recent acquisitions in South Eastern Europe the Group's network overseas includes 868 units.  One of the Bank's main strengths is the confidence shown in it by its customers, who hold over 9 million deposit accounts and more than 1.5 million lending accounts with NBG.  Having reaffirmed its leading position in the [[Greece|Greek]] market, the bank is further modernizing its operations, backed by investment in new technology, so as to better serve its customers and enhance its profitability. <ref>[http://www.nbg.gr] National Bank of Greece site. </ref>
 <br><br>
-Headquarters : [[Eolou]] 86, 102 32 [[Athens]]. Tel. +30 210 3341000
+Headquarters : [[Aiolou Street|Eolou]] 86, 102 32 [[Athens]]. Tel. +30 210 3341000
 ==History==

National Bank of Greece - Revision history

Irlandos: /* History */

Irlandos at 08:17, June 27, 2008

Irlandos: New page: The '''National Bank of Greece''' ('''NBG'''; Greek: '''Εθνική Τράπεζα της Ελλάδος''') is the oldest and largest commercial bank in Greece and...