National Bank’ Says Profits at 1.120 Billion Euros in 2022

ATHENS – National Bank on Tuesday said its 2022 after-tax profits totaled 1.120 billion euros, eflecting a 45% jump in the bank’s core profitability to 664 million euros.

The bank attributed this performance to a strong recovery of net interest revenue, an impressive rise of net revenue from commissions and a de-escalation of credit risk cost to 70 basis points throughout 2022.

National Bnk said its international activities recorded after tax profits of 59 million euros in 2022, after a loss of 13 million in 2021.

Presenting the bank’s results to analysts, National Bank’s CEO Pavlos Mylonas said the bank was also in talks with the Financial Stability Fund over a share buyback plan and noted that a response on the dividend plan was expected by the end of July.

He also said that the bank was examining a Tier 2 bond issue in the second half of 2023 and that National Bank also other options in the framework of its MREL obligations.

National Bank said core profitability totaled 700 million euros in 2022, up from a guidance of 500 million, while after tax profits were up 29% on an annual basis. The bank’s NPE ratio dropped by around 80 bps on a quarterly basis and by around 180 bps on a year-on-year basis to 5.1% in Greece (5.2% at the Group level).

Domestic NPE coverage kept rising from 70 bps to a high oif 88%.

Pavlos Mylonas, CEO of National Bank Group, commenting on the results said: “NBG demonstrated notable strength, delivering superior performance across all lines of business, leveraging on the improved operating model that has been created by our successful 4-year transformation efforts. Our liquidity position remains robust and derives from the Bank’s strong and stable core deposit base. Looking ahead, the solid fundamentals of the Greek economy should keep growth it in a positive territory in 2023, outperforming the rest of Europe. In this positive environment and supported by a solid balance sheet and positive profitability momentum, we aspire to enhance our core RoTE further, to over 12% by YE25. Sustained positive organic capital generation creates options with regards to shareholder distribution. These achievements are consistent with our goal to continue to provide our clients expeditiously with advantageous products and services, maintaining their trust and confidence in NBG, the Bank of First Choice.”


ROME (AP) — Sixty-four people were missing in the Mediterranean Sea and several were rescued after their ship wrecked off Italy's southern coast Monday, United Nations' agencies said in a statement.

Top Stories


A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.


Wellness, Longevity, Gastronomy at Navarino Challenge 2024

ATHENS – The sports tourism and wellness event Navarino Challenge returns for its 12th year, October 18-20 at Costa Navarino and Pylos.

WASHINGTON  — A new Biden administration policy announced Tuesday will give roughly half a million immigrants who are married to American citizens but lack legal status in the United States a pathway to citizenship for them and their children.

FENTON, Mich. — With much of the Midwest and the Northeast broiling — or about to broil — in extreme summer heat this week, meteorologists are talking about heat waves and heat domes.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.