Pavlos Mylonas

“The Bank of Greece welcomes the completion of the placement by the Hellenic Financial Stability Fund (HFSF) of 10% of the share capital of National Bank of Greece,” says the Governor of the CBE Giannis Stournaras, on the occasion of the completion of the placement of NETE.

National Bank of Greece announced first-half profits of €670 million, up 26% from the same period last year, on Thursday.

Almost as importantly for shareholders, CEO Pavlos Mylonas announced plans to significantly increase dividends in the near future, with the target being 70% of the profits. 

The National Bank posted a significant improvement in profitability in the first half of the year, continuing with strong performance across all sectors.

According to the announcement by the National Bank of Greece :

Demand for loans will be strong in the future, estimates the head of the National Bank of Greece, Pavlos Mylonas.

Having pumped 7 billion euros annually into the market over the past three years, demand for business and mortgage loans is expected to strengthen. "We carried out effectively all the actions we had previously announced," emphasized Mylonas on Thursday.

National Bank, Greece's second-largest lender by market value, on Tuesday reported higher net earnings in the first nine months of 2023 compared with the same period a year ago as net interest income rose.

NBG, 40% owned by the country's HFSF bank rescue fund, said net earnings reached 791 million euros from €680 million in the first nine months of 2022.

National Bank's goal is to become a "platform of cooperations" exploiting international trends and technologies toward improving customer experience and expanding its clientele even further, Pavlos Mylonas, the bank's CEO, said on Friday.

SMEs around Greece impacted by COVID-19 are eligible for funding from a new 1.125-billion-euro financing scheme by National Bank of Greece (NBG), itself supported by the European Guarantee Fund (EGF).

National Bank of Greece's new program aimed at settling nonperforming housing loans provides for a more aggressive approach to the management of its bad-mortgage portfolio, including debt write-offs.

Greece's second-largest lender National Bank (NBG) will sell three portfolios of non-performing loans this year, its chief executive said on Friday.

Presenting the bank's 2019-2022 strategy, Chief Executive Officer Pavlos Mylonas told reporters that the bank plans to securitize about 3 billion euros ($3.35 billion) of soured loans in the next four years.

The need for change at National Bank of Greece is "imperative," the lender's chief executive, Pavlos Mylonas, tells Kathimerini, heralding its transformation into a "modern bank that will respond to new challenges."