NBG Group Q3 Results 2015 PRESS RELEASE. NBG Group: Q3.15 results highlights

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1 NBG Grup Q3 Results 205 PRESS RELEASE NBG Grup: Q3.5 results highlights CET rati stable qq despite prtracted bank hliday and capital cntrls hitting tp line in Greece CET std at 9.6% in Q3, unchanged qq Turkish Lira depreciatin impact was ffset by 2.2bn RWAs reductin (including dmestic deleveraging) and DTA f 0.5bn (relating t the increase f the crprate tax rate) Fllwing the annuncement f intentin t sell 00% f Finansbank, the assciated gdwill f.05bn was partially impaired ( 0.65bn) n impact n regulatry capital Sectr-best 90dpd cverage f 73% in Greece; 72% at Grup level Dmestic 90dpd frmatin at 766m in July, as a direct result f the bank hliday; Rapid reversal in August and September (net reductin f 90dpd f 360m) 90dpd rati in Greece increased t 33.8% frm 32.% in Q2, affected als by deleveraging (60bps); Grup NPE cverage remained flat qq at 53% in Q3 Early signs f depsit recvery in Greece; Best-in-class dmestic L:D f 94% Q3 depsit inflws f 345m in Greece after cumulative utflws f 0.6bn in the past three quarters Eursystem funding drpped by 2bn at the end f Q3; Excess cllateral at 8bn Depsit grwth f.0% qq in Greece and 0.8% qq in Turkey in TL terms Tp line temprarily reduced due t capital cntrls Grup cre pre-prvisin incme at 345m, impacted by lwer banking activity due t capital cntrls and FX in Q3 Dmestic NII rebunded t 389m in Q3 (+2.6% qq) n lwer depsit csts Grup perating expenses at 525m (-3.0% qq); Persnnel expenses dwn by 2.3% qq in Greece Pst-AQR CR still high in Greece at 27bps due t increased frmatin relating t capital cntrls Grss lan balance up 5.0% qq in Turkey n a cnstant exchange rate basis Athens Nvember 9, 205

2 NBG Grup Q3 Results 205 Superir liquidity psitin despite headwinds Fllwing the impsitin f capital cntrls and the gradual restratin f cnfidence, grup depsits remained relatively stable qq at 55.8bn in Q3, after drpping by 7.8% qq the previus quarter. This mainly reflects the dmestic depsit inflws f 0.3bn against extended utflws ttaling 0.6bn in the past three quarters. In Turkey, depsits grew by 0.8% qq n a cnstant exchange rate basis, while SE Eurpe and ther cunties depsits were up % qq. As a result, NBG s maintains a best-in-class L:D rati f 94% in Greece and 03% at the Grup level. Eursystem funding decreased t 25.6bn at the end f September (ELA: 5.6bn) frm 27.6bn at the end f June (ELA: 7.6bn), remaining the lwest amng Greek banks. Since the end f September, Eursystem funding has marginally declined t 25.4bn (ELA: 5.6bn), with the cash value f excess cllateral amunting t 8.0bn, rughly equivalent t the Pillar II bnds. Sectr-best 90dpd cverage at the Grup level and in Greece At the Grup level, 90dpd frmatin ttaled 495m in Q3 frm 33m in Q2, reflecting the substantial increase in Greece, as 90dpd frmatin surged t 406m frm 4m the previus quarter. This mainly reflects the 3-week bank hliday and the intrductin f capital cntrls in July. Dmestic 90dpd frmatin in August and mre evidently in September std at firmly negative territry revealing rapid reversal. Dmestic impairments settled at 232m in Q3, with CR still high at 27bps, due t increased frmatin relating t capital cntrls. The Bank maintains a sectr-best 90dpd cverage rati f 73% in Greece and 72% at the Grup level. Grup NPE cverage remained relatively flat qq at 53% in Q3. In Turkey, the 90dpd rati remained stable qq at 6.% in Q3, while cverage increased t 78.2% (+0.4pps qq). In SE Eurpe and ther internatinal activities the 90dpd rati std at 28.3% (+0.3pps qq), with cverage increasing t 56.6% frm 55.6% in Q2. Prfitability Greece: Dmestic cre pre-prvisin prfit amunted t 40m, dwn 0.4% qq. This mainly reflects the pressure n net fee incme, negatively affected by the bank hliday and the capital cntrls (lwer brkerage, custdy and investment banking related fees), as well as increased Pillar II securities-related expenses. On the psitive side, net interest incme increased by 2.6% qq t Data as at 5 Nvember 205 2

3 NBG Grup Q3 Results m n the back f lwer depsit csts cupled with imprving depsit mix. Net interest margin grew by 7bps qq t 266bps. Persnnel expenses were dwn by 2.3% qq. At the bttm line, the Bank recrded net prfit befre ne-ffs f 269m, (excluding revaluatin lsses and TEKE (HDIGF) ne-ff cst f 90m in ttal). Internatinal: In Turkey, Finansbank cntinued t grw fr yet anther quarter. In TL terms, ttal lans expanded by 6.% yy and 5.0% qq t TL63.bn. The lan mix cntinues t shift in favr f the crprate segment, as crprate lans psted grwth f 7% qq, with the retail prtfli expanding by 2% qq. In Q3, crprate lans accunted fr almst 60% f the ttal grss lan bk. Cre pre-prvisin incme increased by 6.8% t TL525m in Q3, driven by the strng net fee incme evlutin (+8.4% qq) and the 2.4% qq decline in perating expenses (TL606m in Q3 frm TL62m in Q2). Pre-prvisin prfitability amunted t TL489m (-0.6% qq), burdened mainly by trading and ther lsses f TL36m in Q3 against incme f TL55m the previus quarter. Prvisin charges declined by 2.7% qq t TL278m (CR: 89bps), with 90 dpd cverage further increasing by 45bps qq t 78%. PAT std at TL79m frm TLm the previus quarter. Prfitability in the Grup's peratins in SE Eurpe and ther cuntries surged t 6m frm 6m in Q2, reflecting the nrmalizatin f nn-cre incme (trading and ther incme f m against lsses f 4m in Q2), and the 4.4% qq decline in prvisins. Capital psitin CET rati remained stable qq at 9.6%, despite prtracted bank hliday and capital cntrls impsitin hitting tp line in Greece. Turkish Lira depreciatin impact was ffset by 2.2bn reductin in RWAs (including dmestic deleveraging) and DTA f 0.5bn (relating t the increase f the crprate tax rate) 3

4 NBG Grup Q3 Results 205 Annex Q3.5 Q2.5 qq Δ 9M.5 9M.4 yy Δ Results ( m) Grup net prfit (40) (,64) -75.% (2,75),76 n.m. Greece 79 (,656) n.m. (,766) 888 n.m. Turkey % % SE Eurpe 6 6 >00% % Cre Revenues ( m) Grup % 2,78 2, % Greece %,262, % Turkey %,34,23.0% SE Eurpe % % Operating Expenses ( m) Grup %,590, % Greece % % Turkey % % SE Eurpe % % Grup Balance Sheet ( m) Ttal Assets 0,872 3, % 0,872 3,3-2.2% Net Lans 57,648 60,56-4.2% 57,648 6, % Depsits 55,772 55,68 0.2% 55,772 66, % Grup Ratis (Net) Lans: Depsits (%) 03% 08% 5 pps 03% 93% 0 pps Net Interest Margin (bps) bps bps SE Eurpe includes the Grup s businesses in Bulgaria, Rmania, Serbia, Albania, the Frmer Yugslav Republic f Macednia and ther cuntries 4

5 NBG Grup Q3 Results 205 Disclaimer N representatin r warranty, express r implied, is r will be made in relatin t, and n respnsibility is r will be accepted by Natinal Bank f Greece (the Grup ) as t the accuracy r cmpleteness f the infrmatin cntained in this annuncement and nthing in this annuncement shall be deemed t cnstitute such a representatin r warranty. Althugh the statements f fact and certain industry, market and cmpetitive data in this annuncement have been btained frm and are based upn surces that are believed t be reliable, their accuracy is nt guaranteed and any such infrmatin may be incmplete r cndensed. All pinins and estimates included in this annuncement are subject t change withut ntice. The Grup is under n bligatin t update r keep current the infrmatin cntained herein. In additin, certain f these data cme frm the Grup s wn internal research and estimates based n knwledge and experience f management in the market in which it perates. Such research and estimates and their underlying methdlgy have nt been verified by any independent surce fr accuracy r cmpleteness. Accrdingly, yu shuld nt place undue reliance n them. Certain statements in this annuncement cnstitute frward-lking statements. Such frward lking statements are subject t risks and uncertainties that may cause actual results t differ materially. These risks and uncertainties include, amng ther factrs, changing ecnmic, financial, business r ther market cnditins. As a result, yu are cautined nt t place any reliance n such frward-lking statements. Nthing in this annuncement shuld be cnstrued as a prfit frecast and n representatin is made that any f these statement r frecasts will cme t pass. Persns receiving this annuncement shuld nt place undue reliance n frward-lking statements and are advised t make their wn independent analysis and determinatin with respect t the frecast perids, which reflect the Grup s view nly as f the date heref. 5