Nbg

Quote from kiansoon:

I have tried to find for news that may account for the 20% gap up ... but unable to find. Anyone knows?
More...

I don't have any "news" as such, but a few observations:

NBG fell from 3.45 on 19 March to 2.05 on 4 April. It was due for a bounce.

Although NBG gapped up at the open, ETE in Greece rose gradually throughout the day, which suggests that there was no "news" relating to the move.

The big four Greek bank stocks soared - it was not specific to NBG.

Some people might be buying based on the announcement late last week regarding capital plans to be released on 20 April. For what it's worth, I don't think that was newsworthy, but people buying today could disagree with me.
 
Greece's NBG posts 12.3 bln eur 2011 loss on debt swap

http://www.reuters.com/article/2012/04/20/nationalbank-idUSA8E8E900K20120420

ATHENS, April 20 | Fri Apr 20, 2012 11:56am EDT

Greece's largest lender National Bank on Friday reported a 12.34 billion euro ($16.3 billion) loss in 2011, hurt by a sovereign debt swap markdown and bad loans as the country's recession deepened.

The group, also present in Turkey, said its Core Tier 1 ratio would fall to 6.3 percent, taking into account the use of a 6.9 billion euro stand-by facility provided by a state support fund (HFSF).
 
The PDF file mentions

"The Total Capital Adequacy Ratio stands at 8.3% following the state guarantee of a capital injection of
€6.9 billion from the Financial Stability Fund in the
context of the recapitalization programme for Greek
banks"

Do you know anything more about the terms of this capital injection?
 
Quote from m22au:

The PDF file mentions

"The Total Capital Adequacy Ratio stands at 8.3% following the state guarantee of a capital injection of
€6.9 billion from the Financial Stability Fund in the
context of the recapitalization programme for Greek
banks"

Do you know anything more about the terms of this capital injection?
More...

Still waiting for details of what type of shareholding the Greek govt will receive in exchange for the 6.9 billion EUR bailout:

***

Title: "ECB Cuts Back Liquidity Support For Greek Banks -Report"

http://www.nasdaq.com/article/ecb-cuts-back-liquidity-support-for-greek-banks--report-20120516-00051

"The ECB is cutting back support because Greece has been holding off on recapitalizing its banking system, despite receiving EUR25 billion in funds for that purpose, the paper says."
 
You must log in or register to reply here.
Back
Top