Due Diligence for Investors in National Bank of Greece S.A.
The Seeking Alpha article listed below gives an analysis of the decline of The Bank of Greece shares as well as an analysis as to if, and when, investors may want to look at NBGGY as a potential investment at this point. The Economic Times article, also linked below, reports on a recent move made by the bank to release some of the bailout funds it got from the government and investors. The Barchart analysis gives all the NBGGY key statistics and current data.
Our View: The National Bank of Greece has had a tough year and so have its investors. The Greek economy is a disaster, the stock got delisted from the NYSE and now trades on the Pinksheets, there was a one for fifteen stock split and the shares lost 98% of their value. That sad story is now the past and investors need to evaluate the stock from today’s perspective.
NBGGY will perform fairly closely with the Greek economy. That is to say that the bank will not thrive unless the Greek economy thrives, nor will it fail unless the Greek economy fails. The European Union has come to the aid of the Greece probably because a failure in the Greek economy would be felt all over Europe. The failure of The National Bank of Greece would be a severe blow for Greece and will probably not happen.
Investors may want to overlook the technical issues regarding share value and evaluate the price they are comfortable with buying in. NBGGY could be a long term hold with price appreciation when the Greek economy regains some traction.
Seeking Alpha – The Unhooded Falcon – December 15, 2015
The Economic Times – World News – December 12, 2015
Barchart.com – Analysis – December 15, 2015
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