The National Bank of Greece, widely known as NBG (Greek: Εθνική Τράπεζα της Ελλάδος), stands as a venerable institution in the global banking and financial services sector. Headquartered in the historic city of Athens, Greece, NBG plays a pivotal role in both the domestic and regional economies, offering a comprehensive suite of financial solutions to a diverse clientele.

A Legacy Forged in the 19th Century: The Founding of NBG

The story of the National Bank of Greece began in 1841, a significant period for the newly independent Greek state. It was founded by the distinguished bankers Jean-Gabriel Eynard and Georgios Stavros, establishing itself initially as a vital commercial bank. Stavros, a key figure in its inception, was also elected as the bank's first director, guiding its early growth and operations until his passing in 1869. This foundational era marked NBG as a cornerstone of the emerging Greek economy, providing essential financial infrastructure and stability.

Perhaps one of the most distinctive aspects of NBG's early history was its unique privilege to issue banknotes. From its very inception until the establishment of the dedicated Bank of Greece in 1928, NBG essentially functioned with central banking responsibilities, a testament to its integral role in the nation's financial system. Its significance was further solidified with the founding of the Athens Stock Exchange in 1880, where the National Bank of Greece was an immediate and prominent listing, a position it has proudly maintained without interruption to the present day.

Comprehensive Financial Services and Regional Reach

Today, NBG offers a broad spectrum of financial products and services, catering to a wide array of clients including corporate and institutional entities, along with private and business customers. Its extensive service portfolio encompasses traditional banking services, brokerage, insurance, asset management, specialized shipping finance, leasing, and factoring markets. This diverse offering underscores NBG's commitment to supporting various facets of economic activity.

Geographically, the bank's operational strength is deeply rooted in its home country. A substantial 85% of the company's pretax preprovision profits are derived from its operations within Greece, reflecting its dominant domestic presence. Complementing this, 15% of its profits originate from operations across Southeastern Europe, highlighting NBG's strategic regional footprint and its role as a significant financial player beyond its borders.

Market Position and Economic Influence

Within the highly competitive Greek banking landscape, the National Bank of Greece holds several key positions, showcasing its enduring strength and influence. As of 4 December 2018, it proudly stood as the largest Greek bank when measured by total assets. In terms of market capitalisation, it was the third largest, valued at €1.06 billion, a strong indicator of investor confidence and its overall economic weight.

NBG also commands a significant share of the deposit market, ranking as the second largest by deposits in Greece, trailing only Piraeus Bank. While it holds the fourth position by Greek loan assets, following Piraeus Bank, Alpha Bank, and Eurobank Ergasias, its overall size and diverse portfolio cement its status as a critical pillar of the Greek financial system. Its consistent presence and robust operations underscore its vital contribution to the nation's economic stability and growth.

Public Listing and Market Presence

The National Bank of Greece maintains a prominent presence on the public markets. It is currently listed on the Athens Exchange (Athex: ETE, ISIN GRS003003019) and is a constituent of the prestigious FTSE/Athex Large Cap index, representing the largest and most liquid companies traded on the Greek stock market. This listing provides transparency and accessibility for investors globally.

Beyond its domestic market, NBG also had a significant international presence. From 1999 to 2015, the bank was listed on the New York Stock Exchange (NYSE: NBG, ADR, ISIN US6336437057), reflecting its ambition and reach on a global scale. While its direct NYSE listing has concluded, its historical presence there speaks to its international recognition and the trust placed in the institution by investors worldwide.

Frequently Asked Questions About the National Bank of Greece (NBG)

What is the National Bank of Greece?

The National Bank of Greece (NBG) is a leading global banking and financial services company headquartered in Athens, Greece.

When was NBG founded?

The National Bank of Greece was founded in 1841.

Who founded NBG?

NBG was founded by bankers Jean-Gabriel Eynard and Georgios Stavros, with Stavros serving as its first director.

What services does NBG offer?

NBG provides a comprehensive range of financial services, including banking, brokerage, insurance, asset management, shipping finance, leasing, and factoring, to corporate, institutional, private, and business clients.

What is NBG's market position in Greece?

As of late 2018, NBG was the largest Greek bank by total assets, the third largest by market capitalisation, and the second largest by deposits in Greece.

Did NBG ever issue its own banknotes?

Yes, from its inception in 1841 until the establishment of the Bank of Greece in 1928, NBG held the exclusive right to issue banknotes.

Is NBG publicly traded?

Yes, NBG is currently listed on the Athens Exchange (Athex: ETE) and was historically listed on the New York Stock Exchange (NYSE: NBG) from 1999 to 2015.