National Bank of Greece S.A. (NBGRY)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
National Bank of Greece S.A. (NBGRY) trades at $18.30 with AI Score 46/100 (Grade C). National Bank of Greece S. A. is a financial services provider offering a range of banking and insurance products across multiple countries. Market cap: $16.45B, Sector: Financial services.
Price live · AI analysis from Mar 15, 2026Analyst Coverage for NBGRY: NBGRY does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates NBGRY against Financial Services peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
NBGRY: the 1 perspectives are evenly split.
How is this calculated? →National Bank of Greece S.A. (NBGRY) Financial Services Profile
National Bank of Greece S.A. (NBGRY) is a regional bank offering diverse financial services, including retail, corporate, and investment banking, alongside insurance and asset management. Operating across Greece and several international markets, NBGRY distinguishes itself through a comprehensive suite of financial solutions and a long-standing presence in the Greek banking sector.
What Is the Investment Thesis for NBGRY?
National Bank of Greece S.A. presents a compelling investment case based on its established market position, diversified service offerings, and improving financial performance. With a P/E ratio of 10.15 and a profit margin of 37.9%, NBGRY demonstrates solid profitability. The dividend yield of 5.24% offers an attractive income stream for investors. Key growth catalysts include the expansion of digital banking services and strategic initiatives to reduce non-performing loans. However, potential risks include regulatory changes and economic instability in the regions where it operates. The bank's beta of 0.58 suggests lower volatility compared to the broader market.
Based on FMP financials and quantitative analysis
NBGRY Key Highlights
- Market capitalization of $16.45B, reflecting substantial investor confidence.
- P/E ratio of 10.15, indicating a potentially undervalued stock relative to earnings.
- Profit margin of 37.9%, showcasing strong operational efficiency and profitability.
- Gross margin of 86.9%, demonstrating effective cost management and pricing strategies.
- Dividend yield of 5.24%, providing an attractive income stream for shareholders.
Who Are NBGRY's Competitors?
NBGRY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| BKIMF Bankinter, S.A. | $16.70 | +0.00% | $15.01B | 52 |
| BKNIY Bankinter, S.A. | $17.45 | -0.08% | $15.68B | 49 |
| BKPKF Bank Polska Kasa Opieki S.A. | $63.96 | +0.00% | $16.79B | 59 |
| EGFEF Eurobank Ergasias Services and Holdings S.A. | $4.84 | +3.09% | $17.73B | 50 |
| EGFEY Eurobank Ergasias Services and Holdings S.A. | $2.01 | +2.03% | $7.36B | 52 |
| MCHB Mechanics Bank | $16.24 | +0.50% | $3.58B | 71 |
| STLE Steele Bancorp Inc. | $43.05 | -0.67% | $80.01M | 69 |
| NASB NASB Financial, Inc. | $40.30 | +0.00% | $289.22M | 68 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are NBGRY's Key Strengths?
- Established market position in Greece.
- Diversified service offerings.
- Extensive branch network.
- Strong brand recognition.
What Are NBGRY's Weaknesses?
- High level of non-performing loans.
- Exposure to economic volatility in Greece.
- Dependence on traditional banking channels.
- Limited presence in high-growth markets.
What Could Drive NBGRY Stock Higher?
- Implementation of digital transformation initiatives to improve customer experience and operational efficiency.
- Strategic efforts to reduce non-performing loans and improve asset quality.
- Potential for increased profitability due to rising interest rates.
- Expansion into new markets in Southeastern Europe.
- Continued growth in fee-based income from asset management and insurance services.
What Are the Key Risks for NBGRY?
- Financial-distress signal — its Altman Z-Score of -0.50 sits in the distress zone (elevated bankruptcy risk).
- Economic instability in Greece and other markets where NBGRY operates.
- Increasing competition from fintech companies and other banks.
- Regulatory changes and compliance costs.
- Cybersecurity risks and data breaches.
- Currency risk associated with international operations.
What Are the Growth Opportunities for NBGRY?
- Expansion of Digital Banking Services: NBGRY can leverage the growing adoption of digital banking to expand its customer base and improve operational efficiency. The global digital banking market is projected to reach $12.3 trillion by 2030, offering significant growth potential. By investing in user-friendly mobile and online platforms, NBGRY can attract younger customers and reduce costs associated with traditional branch operations. Timeline: Ongoing.
- Strategic Reduction of Non-Performing Loans (NPLs): Addressing and reducing its portfolio of non-performing loans is crucial for improving NBGRY's financial health. The Greek government and European regulatory bodies are pushing for NPL reduction across the banking sector. Successful management of NPLs will free up capital for new lending and investment opportunities. Timeline: Ongoing.
- Increased Focus on Fee-Based Income: NBGRY can enhance its revenue streams by focusing on fee-based services such as asset management, investment banking, and insurance. The global asset management market is experiencing steady growth, driven by increasing wealth and demand for investment products. By expanding its offerings in these areas, NBGRY can diversify its income and improve profitability. Timeline: Upcoming.
- Geographic Expansion in Southeastern Europe: NBGRY has the opportunity to expand its presence in Southeastern European markets, where economic growth and financial inclusion are increasing. Countries like Romania, Bulgaria, and North Macedonia offer attractive growth prospects for banking services. By establishing or acquiring local operations, NBGRY can tap into new customer segments and diversify its geographic risk. Timeline: Upcoming.
- Leveraging Bancassurance Partnerships: Strengthening partnerships with insurance companies to offer bancassurance products can drive revenue growth and enhance customer loyalty. The bancassurance market is growing globally, as banks seek to leverage their customer base to sell insurance products. By offering a comprehensive suite of financial and insurance solutions, NBGRY can increase customer retention and cross-selling opportunities. Timeline: Ongoing.
What Opportunities Does NBGRY Have?
- Expansion of digital banking services.
- Strategic reduction of non-performing loans.
- Increased focus on fee-based income.
- Geographic expansion in Southeastern Europe.
What Threats Does NBGRY Face?
- Increasing competition from fintech companies.
- Regulatory changes and compliance costs.
- Economic instability in Greece and other markets.
- Cybersecurity risks and data breaches.
What Are NBGRY's Competitive Advantages?
- Established brand reputation and long history in the Greek banking sector.
- Extensive branch network and ATM coverage in Greece.
- Diversified service offerings across retail, corporate, and investment banking.
- International presence in Southeastern Europe and other regions.
What Does NBGRY Do?
Founded in 1841, National Bank of Greece S.A. (NBGRY) has evolved into a leading financial institution providing a comprehensive suite of financial products and services. Headquartered in Athens, Greece, the bank operates across multiple countries, including the United Kingdom, North Macedonia, Romania, Cyprus, Bulgaria, Malta, Egypt, and Luxembourg. NBGRY's services span retail banking, corporate and investment banking, asset management, and insurance. Its retail banking segment offers deposit accounts, investment products, mortgage loans, and consumer lending. The corporate and investment banking division provides financial advisory services, loans, foreign exchange, and trade services for corporate clients. The bank also manages distressed assets through its Trouble Assets Unit. Through its Global Markets and Asset Management segment, NBGRY engages in treasury activities, asset management, and brokerage services. The Insurance segment offers a variety of insurance products. As of December 31, 2021, National Bank of Greece operated 337 branches, 16 Transaction Offices, 2 I-Bank Stores, and 1,474 ATMs in Greece, demonstrating its extensive network and commitment to serving a wide range of customers.
What Products and Services Does NBGRY Offer?
- Provides retail banking services including deposit accounts, loans, and credit cards.
- Offers corporate and investment banking services such as financial advisory and trade finance.
- Manages distressed assets through its Trouble Assets Unit.
- Engages in treasury activities and asset management services.
- Provides various insurance products.
- Offers commercial banking services through its international branches.
- Engages in real estate management and warehousing businesses.
How Does NBGRY Make Money?
- Generates revenue from interest income on loans and advances.
- Earns fees from financial advisory, asset management, and brokerage services.
- Collects premiums from insurance products.
- Derives income from trading activities in global markets.
What Industry Does NBGRY Operate In?
National Bank of Greece operates within the regional banking sector, which is characterized by increasing competition, regulatory scrutiny, and technological advancements. The Greek banking sector is recovering from a period of economic challenges, with banks focusing on improving asset quality and profitability. The rise of digital banking and fintech companies is transforming the competitive landscape, requiring traditional banks to innovate and adapt. NBGRY's diversified service offerings and international presence position it to capitalize on growth opportunities in the evolving financial services market.
Who Are NBGRY's Key Customers?
- Individual customers seeking retail banking services.
- Small and medium-sized enterprises (SMEs) requiring business loans and financial services.
- Large corporations needing investment banking and trade finance solutions.
- Institutional investors seeking asset management and custody services.
Company Profile
National Bank of Greece S.A. operates in the Banks - Regional industry within the Financial Services sector. It is headquartered in Athens, GR. The company is led by CEO Pavlos Konstantinos Mylonas. NBGRY has traded publicly since 2019.
F-Score 5/9Financial Health
National Bank of Greece S.A.'s Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of -0.50 places it in the distress zone, a signal of elevated financial risk.
ROE 13%Key Financial Metrics
Return on equity for National Bank of Greece S.A. stands at 12.6%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 1.4%, showing how much profit it generates from its asset base. NBGRY trades at a trailing price-to-earnings ratio of 15.66, below the Financial Services sector average of ~18x. Its free cash flow yield is 6.1%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.09 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 6.4%, the inverse of the P/E and a quick read on earnings relative to price.
NBGRY Valuation & Market Position
With a $16.45B market cap, National Bank of Greece S.A. sits in the large-cap segment of the market. Relative to its peer group, NBGRY's quantitative score of 46/100 is roughly in line with the peer average of 52/100.
FY2026 estForward Outlook
Wall Street analysts project National Bank of Greece S.A. revenue of about $2.96B for fiscal 2026, with EPS near $1.41. The estimate reflects 6 contributing analysts.
NBGRY Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- National Bank of Greece (NBGRY) has seen recent insider buying, signaling confidence from those closest to the company. This can be a strong indicator of future positive performance.
- Community sentiment appears to be leaning bullish, with many social traders highlighting potential growth opportunities in the Greek financial sector. This positive buzz can drive increased investor interest.
- Market perception suggests NBGRY is undervalued compared to its European peers, creating a potential upside as investors recognize the discrepancy. Think of it like how Tesla was viewed as disruptive before its 2020 rally.
- Recent developments in the Greek economy, such as increased stability and growth projections, are creating a favorable environment for banks like NBGRY. A rising tide lifts all boats.
Bear Case
- Despite positive sentiment, some community members express concerns about the long-term stability of the Greek economy, drawing parallels to past financial crises. This skepticism can limit investor enthusiasm.
- Insider activity, while showing buying, could be interpreted as an attempt to boost investor confidence rather than a true reflection of the company's prospects. Always consider multiple angles.
- Market perception is also influenced by lingering doubts about the Greek banking sector's ability to fully recover from past economic challenges. This perception can create resistance to significant price appreciation.
- NBGRY's reliance on the Greek economy makes it vulnerable to any potential economic downturns or policy changes. This dependence is a significant risk factor to consider.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
NBGRY Latest News
No recent news available for NBGRY.
NBGRY Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for NBGRY.
Price Targets
Wall Street price target analysis for NBGRY.
NBGRY MoonshotScore
What does this score mean?
The MoonshotScore rates NBGRY's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Pavlos Konstantinos Mylonas
Chief Executive Officer
Pavlos Konstantinos Mylonas is the Chief Executive Officer of National Bank of Greece S.A. He has extensive experience in the financial services industry, having held various leadership positions in banking and investment firms. His expertise spans corporate finance, risk management, and strategic planning. Mylonas has a strong academic background, with advanced degrees in economics and finance. He is known for his strategic vision and ability to drive organizational transformation.
Track Record: Since assuming the role of CEO, Pavlos Konstantinos Mylonas has focused on improving the bank's asset quality, enhancing its digital capabilities, and driving sustainable growth. Under his leadership, NBGRY has made significant progress in reducing non-performing loans and improving its financial performance. He has also overseen the implementation of strategic initiatives to expand the bank's presence in key markets and strengthen its competitive position.
National Bank of Greece S.A. ADR Information Unsponsored
An American Depositary Receipt (ADR) is a certificate representing shares of a foreign company trading on U.S. stock exchanges. NBGRY's ADR allows U.S. investors to invest in National Bank of Greece S.A. without directly dealing with the Athens Stock Exchange. The ADR is denominated in U.S. dollars, simplifying trading and reporting for U.S. investors.
- Home Market Ticker: Athens Stock Exchange, Greece
- ADR Level: 1
- ADR Ratio: 1:1
- Home Market Ticker: NBGR
NBGRY OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that National Bank of Greece S.A. (NBGRY) has limited regulatory oversight and reporting requirements compared to companies listed on major exchanges like the NYSE or NASDAQ. Companies on this tier may not meet the minimum financial standards required for listing on higher-tier exchanges, resulting in increased risks for investors.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited regulatory oversight and reporting requirements.
- Potential for financial instability and fraud.
- Low trading volume and liquidity.
- Increased price volatility.
- Information asymmetry and lack of transparency.
- Verify the company's financial statements and audit reports.
- Research the company's management team and their track record.
- Assess the company's business model and competitive landscape.
- Evaluate the company's regulatory compliance and risk management practices.
- Monitor the company's news and press releases for any red flags.
- Consult with a financial advisor before investing.
- Understand the risks associated with investing in OTC stocks.
- Established history and brand recognition in Greece.
- Presence in multiple international markets.
- Compliance with Greek banking regulations.
- Audited financial statements (if available).
- Positive news coverage and analyst reports (if available).
NBGRY Financial Services Stock FAQ
What does National Bank of Greece S.A. do?
National Bank of Greece S.A. provides a wide array of financial services, including retail and corporate banking, asset management, and insurance. It serves individuals, small businesses, and large corporations across Greece and several international markets. The bank's retail services encompass deposit accounts, loans, and credit cards, while its corporate services include financial advisory, trade finance, and investment banking. Additionally, NBGRY manages distressed assets and offers insurance products, making it a comprehensive financial solutions provider.
What are the main risks for NBGRY?
The main risks for National Bank of Greece S.A. include economic instability in Greece and other operating regions, increasing competition from fintech companies, regulatory changes, cybersecurity threats, and currency risk. The high level of non-performing loans also poses a significant challenge. Effective risk management and strategic adaptation are crucial for mitigating these risks and ensuring the bank's long-term stability and success.
What are the key factors to evaluate for NBGRY?
National Bank of Greece S.A. (NBGRY) holds an AI score of 46/100 (low). Not financial advice.
How frequently does NBGRY data refresh on this page?
NBGRY prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven NBGRY's recent stock price performance?
National Bank of Greece S.A. (NBGRY) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Established market position in Greece. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider NBGRY overvalued or undervalued right now?
Valuing National Bank of Greece S.A. (NBGRY) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying NBGRY?
Before investing in National Bank of Greece S.A. (NBGRY), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding NBGRY to a portfolio?
Key strength of National Bank of Greece S.A. (NBGRY): Established market position in Greece. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Financial data is based on information available as of 2021-12-31.
- AI analysis is pending for NBGRY.