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Athens News Agency: News in English, 08-08-28

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] NBG net profits up 15% in H1

  • [01] NBG net profits up 15% in H1

    National Bank Group on Thursday reported a 15-percent increase in its first half net profits to 835 million euros and said its return on equity rate rose by two percentage points to 26 percent over the same period.

    National Bank said its positive performance mainly reflected strong growth in Turkey and Southeast European markets, despite a negative international economic environment.

    Net profits from activities in Greece rose 7.0 pct to 510 million euros in the first six months of the year, while Finansbank reported a 22-pct rise in net profits to 238 million euros, or 29 pct of total Group profitability, and net profits from activities in SE Europe grew 74 pct to 107 million euros, or 13 pct of total Group profitability.

    Loans grew 25 pct to 61.4 billion euros in the January-June period, up from 49.3 billion euros last year, while its portfolio quality improved further. Saving deposits grew 15.5 pct to 63.9 billion euros, with the loans/deposits rate rising to 94 pct in June 2008, from 86 pct in June 2007.

    Takis Arapoglou, the bank's chairman and chief executive, commenting on the results said the bank's steady growth supported its operating income, boosting operating profits to new record highs.

    Caption: ANA-MPA file photo of NGB CEO Takis Arapoglou.

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