NBG will sell up to 40% of Finansbank in Autumn

Series of exploitations of the Group's assets to shield the bank so that it can play a leading role in economic recovery.

According to information from management circles the National Bank of Greece is expected to allocate up to 40% of Finansbank in Autumn.

The crucial issue is the capitalization at which the percentage of Finansbank will be sold, as the Turkish stock market has suffered a significant decline in recent months and expectations for the course of the Turkish economy have dropped, despite the fact that a Moody's report, approximately three months ago, had only good things to say about the prospects of the Turkish economy and the Turkish banking system.

It is thus expected that the capital strengthening and shielding of the bank will continue, in view of a situation that might raise delinquencies and overdue loans.

The share of NBG has made a significant recovery in the last ten days exceeding 3 euros, but is still situated lower than at the time of the capital increase (over 4 euros).

The current values correspond to a reverse split, which means that the current 3 euros is essentially 30 cents according to the values that were configured before the split.

To strengthen the NBG Group, its management has prepared the utilization of assets of subsidiaries, such as those in the real estate sector.