Boston, MA 10/21/2013 (wallstreetpr) – That National Bank of Greece (ADR) (NYSE:NBG) is getting back on track ahead of most European stocks can be seen on a number of significant highlights. One such highlight is that in comparison with 2010, the Greece bank has succeeded in lowering its expenses by at least 23%. This is a strong indicator of a company defying the odds to push forward its growth agenda, and of course, put a lot of money into the hands of investors.
In the Q2.13, the bank’s management reported a 6% drop in operation expenses. And for the first time in at least 2 years, the bank was able to realize cash flow in its Q2.13 which covered the operational expenses for the quarter. In the same quarter, NBG realized nearly $555.90 million in profits against nearly $3.07 billion in net loss for a similar period a year ago.
The reason why NBG’s smart rally lately is highly commendable is because it has made turnaround in such a short time and in an environment that is yet to completely recover from the recession devastation. A lot of its peers in Europe can only envy its short time rebound and this makes a lot of sense for the investors.
Perhaps the greatest of all highlights is the bank’s rise from $3.07 billion loss during the financial gloom in Greece to post $555.90 million in profit in Q2.13.
Owing to NBG’s smart rally, it means that investors who added its stock to their investment portfolio in July have now seen their investment appreciate by 45%, which is an encouraging leap forward. During the trading on October 18, the bank gained 6.56% in share value to end the day at $5.85. NBG now has $14.02 billion in market cap. Today’s trading and the day’s ahead will be closely watched by investors who desire to see how much gas the bank has to continue scaling up.
