ETEFinancial Services · Banks - Regional · ΧΑ
National Bank of Greece
€15.40
+0.37(+2.46%)
Close 26/10/2026 · end-of-day price, not real-time
National Bank of Greece (ETE) closed at €15.40 on 26/10/2026, +2.46% on the day. Market cap €13.8bn, P/E 12.0, dividend yield 3.34%.
My view
Private · MENTOR takes it into account
+7.7%6M
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26/10/2026Close 15.40+2.46%Vol 3.1m+7.7% since start
Key statistics
FY2025 unless a figure says otherwise
Profile
At the 26 Oct close- Market value
- €13.8bn
- Shares outstandingOct 2026
- 896.1m
- Total incomeFY2025
- €2.8bn
- Employees
- 8,005
- Free floatest.
- 0.3%
- Traded a day, 3-month average
- €55.2m
Bank
Jun 2026- RoTEH1 2026
- 15.5%
- CET1
- 17.3%
- NPE ratio
- 2.4%
- NPE cover
- 105.0%
- Net interest marginQ2 2026
- 27,300.0%
- Cost to incomeH1 2026
- 34.7%
Valuation
FY2025- P/E
- 12.0×
- P/B
- 1.5×
- Dividend yield
- 3.3%
Returns
FY2025- ROE
- 13.3%
- ROA
- 1.5%
- ROE, 5-year averageFY2021–25
- 15.6%
- Tax rate
- 24.9%
Growth
- Revenue, last yearFY2025
- −3.6%
- EPS, last yearFY2025
- +0.8%
- Revenue, 3 yearsFY2022–25, a year
- +10.6%
- Revenue, 5 yearsFY2020–25, a year
- +1.9%
Dividends
FY2025- Yield, last 12 months
- 3.3%
- Per share
- €0.515
- Payout
- 40.2%
- Years paid, last fiveFY2021–25
- 3
Withheld, and why
- Profile: Enterprise value · Valuation: EV/Sales, EV/EBITDA, P/FCF · Margins · Returns: ROCE, ROIC · Financial health · Dividends: Covered by free cash flow · a bank or an insurer is read on its capital and its loans: deposits and wholesale funding are its raw material, not its debt
Trading and risk
From our closes, dividends reinvested- Total return, 1 year
- +25.7%
- 3 years, a year
- +46.9%
- 5 years, a year
- +46.6%
- 10 years, a year
- +25.4%
- Volatility, 1 year
- 36.2%
- Beta to the General Index
- 1.43×
- Deepest fall, 1 year / 5 years
- −21.4% / −32.8%
- 52-week range
- €12.40–€17.85
est.worked out by us
Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.
Financial charts
From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements
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Valuation
6 companies| Metric | ETE | Peer median | Peer range |
|---|---|---|---|
| P/E | 12.0 | 11.3 | 9.1 16.7 |
| P/B | 1.5 | 1.8 | 1.1 3.8 |
| Dividend yield | 3.3% | 2.7% | 0.0% 7.1% |
| Payout ratio | 40.2% | 34.9% | 12.2% 74.0% |
| ROE | 13.3% | 12.2% | 1.6% 24.9% |
| Revenue growth (last full year) | −3.6% | 1.4% | -4.9% 88.4% |
Grey band: the peers' range · tick: median · dot: ETE · Twelve Data · latest quarter 31/12/2025
Peers: Banks
Mkt capP/BROEDay
National Bank of GreeceETE€13.8bn1.513.3%+2.5%
Not compared: TELL (central bank)
The company
AI-draftedNational Bank of Greece is one of Greece's four systemic banks. It lends to households and companies, funds itself almost entirely from €61.7bn of customer deposits, and earns fees on cards, payments and investment products. Nearly all its income is Greek; small banking subsidiaries operate in North Macedonia and Cyprus.
How it makes moneyH1 2026 · basis: other
It is
Recent developmentsAll company events →
- Oct 2026Adrianos Ifaistion Kyriazis elected HCAP non-executive representative, subject to SSM approval and review.12
- Oct 2026Treasury shares reached 17,343,425 (1.92%) after purchases through 15 October; later cancellation intended.13
- Oct 2026Definitive agreements signed for 30% of Allianz European Reliance and bancassurance. Acquisition closing remains conditional; distribution is expected in early 2027.11
- Sep 2026€250m EIB package comprises €200m covered-bond financing and €50m guarantee; at least half supports security and defence.14
- Sep 2026After cancellation of 11,580,849 treasury shares, 903,134,304 shares were issued and HCAP reached 8.50%; later buybacks brought treasury shares to 15,079,525.6,8,9
- Jul 2026Preliminary agreement with Dromeus Capital for a long-term commercial real estate partnership and a €0.4bn portfolio purchase.5
Key figures
Key facts
- The June 2026 deck reports 304 Greek branches and rounded headcount of 7.7k Group and 6.3k Bank employees.10
- The largest shareholder is the state's Growthfund (HCAP) with 8.50%, successor to the HFSF.6
- FY2025 attributable profit was €1,160m, or €1,259m before one-offs. Statutory basic EPS was €1.28; the €1.38 management figure is adjusted.2,3
- A cost-to-income ratio of 34.7% in H1 2026, with a funding cost below 70 basis points.1
- The 2026-2028 business plan targets a 17% return on tangible equity and a CET1 ratio below 16% by end-2028.2
Sources
- 1.1H26 Financial Results press releaseNational Bank of Greece · 30/07/2026official
- 2.FY25 Financial Results press releaseNational Bank of Greece · 27/02/2026official
- 3.Group and Bank Annual Financial Report 2025 (auditor/report date)National Bank of Greece · 02/03/2026official
- 4.Group and Bank Annual Financial Report 2022 (statement approval date)National Bank of Greece · 13/03/2023official
- 5.Preliminary agreement with Dromeus Capital Group on commercial real estateNational Bank of Greece · 30/07/2026official
- 6.Shareholder structureNational Bank of Greeceofficial
- 7.Financial Statements of the Group and the Bank for the period ended 30.06.2026National Bank of Greece · 29/07/2026official
- 8.Treasury-share cancellation and capitalization of premiumNational Bank of Greece · 14/09/2026official
- 9.Purchase of own shares, 14–21 September 2026National Bank of Greece · 23/09/2026official
- 10.2Q26 Financial Results presentationNational Bank of Greece · 30/07/2026official
- 11.Definitive Allianz European Reliance agreements signedNational Bank of Greece · 14/10/2026official
- 12.New HCAP Board memberNational Bank of Greece · 21/10/2026official
- 13.Purchase of own shares through 15 OctoberNational Bank of Greece · 19/10/2026official
- 14.EIB and NBG security and defence financing packageNational Bank of Greece · 18/09/2026official
AI-drafted from the cited sources · 26/10/2026 · v4 · ✓ checked by an independent second modelNational Bank of Greece S.A.Website ↗
AskedSuggested
Why it moved
+2.46% · volume 0.8×
News & events
News and what's next
Peers
5 listed peers
Results
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.