NBG Equity (IFC-37786)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 25, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
NATIONAL BANK OF GREECE S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 21.93 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 20.00 million
Converted using 2015-12-25 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 1, 2018

Disclosed by Bank Dec 4, 2015


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Project Description

This project finances an equity investment in National Bank of Greece S.A. to support their recapitalization by participating in a share offering in accordance with the Recapitalization Framework.

Investment Description
  • International Finance Corporation (IFC)

National Bank of Greece S.A. (NBG) is listed on the Athens Stock Exchange and prior to the share offering was 57% owned by the Hellenic Financial Stability Fund, 35% by international investors and 8% by domestic investors. Founded in 1841, NBG is the oldest and the third largest bank in Greece with the market shares of approximately 25% in household lending and 25% in deposits. The Bank serves more than 6 million of retail and 8,700 corporate clients through the network of more than 500 branches, 1,400 ATMs and 55,000 points of sale. NBG has considerable presence in other SEE countries, including Bulgaria, F.Y.R.O.M., Albania, Serbia, Romania and Cyprus. The Bank also operates in Turkey via the 99.8%-owned subsidiary Finansbank A.S. As of September 30, 2015, NBG had total assets of EUR110.9 billion, total customer deposits of EUR55.8 billion and total net loans of EUR63.9 billion. The Bank’s Common Equity Tier I ratio as of the same date was 9.6%.

Private Actors

Founded in 1841, NBG is the oldest and the third largest bank in Greece with the market shares of approximately 25% in household lending and 25% in deposits. The Bank serves more than 6 million of retail and 8,700 corporate clients through the network of more than 500 branches, 1,400 ATMs and 55,000 points of sale. NBG has considerable presence in other SEE countries, including Bulgaria, F.Y.R.O.M., Albania, Serbia, Romania and Cyprus. The Bank also operates in Turkey via the 99.8%-owned subsidiary Finansbank A.S.

As of September 30, 2015, NBG had total assets of EUR110.9 billion, total customer deposits of EUR55.8 billion and total net loans of EUR63.9 billion. The Bank’s Common Equity Tier I ratio as of the same date was 9.6%.

Contact Information

*No contacts available*

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