NBG Q3/9M results first glimpse - Manos Chatzidakis

NBG Q3/9M results first glimpse Manos Chatzidakis 5:40 μ.μ. (Πριν από 20 λεπτά) NBG announced its Q3 results overall in line but with positive readings in NII (better than expected) and Impairment losses (368m vs 392 estimate). Strong performance in Turkey and improving trends in domestic cost of funding were the main drivers in Q3 profitability. NBG 2013 2014 2014 Overview (In million Euro) 3Q 2Q 3Q Beta 3QΕ Q/Q Y/Y NII 772 760 797 783 4.9% 3.2% Fee income 115 137 139 126 1.5% 20.9% Trading -23 -20 -36 -5 -80.0% -56.5% Other Income 35 17 24 58 41.2% -31.4% Total income 899 894 924 962 3.4% 2.8% Operating costs -568 -504 -510 -524 -1.2% 10.2% Pre-provision-profits 331 390 414 437 6.2% 25.1% Provisions -397 -342 -368 -392 -7.6% 7.3% Other results 1 885 -61 - - - PBT -65 933 45 46 -95.2% 169.2% Corporate taxes -16 46 60 12 30.4% 475.0% Net profit After Min. -81 979 30 34 -96.9% 137.0% Conference Call will focus on 20% sale of Finansbank, Astir sale and Pangaia listing. CC details: ¡  + 44 (0) 800 368 1063 (UK) ¡  +30 211 180 2000 (GR) ¡  +1 866 288 9315 (US) ¡  +44 (0) 203 059 5872 (Other International Dial In) Best Regards, Manos Chatzidakis Head of research Beta Securities S.A. 29 Alexandras Ave. GR - 11473 Athens, Greece Tel: +30 210 6478755 /754 Fax +30 210 6448791 Email: mchatzidakis@beta.gr Disclaimer: This e-mail is confidential. If you are not the intended recipient, you should not copy it, re-transmit it, use it or disclose its contents, but should return it to the sender immediately and delete the copy from your system. Beta Securities S.A. is not responsible for, nor endorses, any opinion, recommendation, conclusion, solicitation, offer or agreement or any information contained in this communication. Beta Securities S.A. cannot accept any responsibility for the accuracy or completeness of this message as it has been transmitted over a public network. If you suspect that the message may have been intercepted or amended, please call the sender admin.