National Bank of Greece

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NBG

Banks see rates staying high

Greek banks estimate that interest rates will remain high, namely between 2.7% and 3% in 2024-2026, keeping interest income at high levels for the following years as well.

Interest income increased by 51% to 8.1 billion euros in 2023, contributing the bulk of organic revenue of €10.4 billion.

ATHEX: New 12-week high for the benchmark

The decline of the stock of National Bank of Greece did not suffice to prevent the benchmark from climbing to a new 12-week high on Monday. The daily turnover reverted to high levels at the start of the week that might bring Greece once again to climbing the steps to investment grade as Fitch Ratings will issue its verdict on Friday.

National Bank of Greece reports strong return on equity

National Bank of Greece announced a first-half profit after tax of €530 million Tuesday, slightly lower than the €546 million posted in the first half of 2022.

Core profit after tax stood at €508 million for the half, of which €288 million was in the second quarter, with return on tangible equity exceeding 16%, the bank said.

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