Neustart der NBG
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Alpha Bank, WKN: 876116 ; ISIN: GRS015013006
Piräus, WKN: A1WZ93 ; ISIN: GRS014003008
und NBG sitzen im gleichen Boot. Auch der Kursverlauf ist sehr ähnlich.
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Wertpapier: National Bank Of Greece |
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... es denn sein, dass sich die NBG-Aktie jetzt positioniert um abzugehn? Und wir bald eine 4 vor dem Komma sehn?
Auf alle Fälle habe ich meinen Kaufpreis in den letzten Wochen auf durschnittlich 3,79 gedrückt und hoffe damit gut im Rennen zu sein, was sagt ihr und wo steht ihr?
die krise hat die talsohle gesehn. europa zahlt weiterhin für griechenland und die usa wetten wieder auf griechische banken!
ich habe vor der kapitalerhöhung sehr gut an der nbg verdient (+60%). nach der kapitalerh.bin ich leider zu früh bei 4,3€ hinein, hab die 2,00 gesehn ohne nervös zu werden und jetzt sind wir wieder bei 3,90-4,00.
also in den nächsten 1-3 jahren sollte hier sehr viel möglich sein. ich persönlich traue mich auch zahlen von 10-12€ in den mund zu nehmen. es kann vor allem im griech. sektor sehr schnell gehen!
und in wenigen jahren steigen auch die konservativsten anleger wieder ein weil griech. aktien wieder sicher sind. bis dahin sind die kurse knapp unterm himmel!
man darf sich nur nich von der volatilität abschrecken lassen. wer -8% +7% -4% +11% usw auch mal aushält sollte hier zugreifen. nmm!
.... was sagen die Charttechniker zur aktuellen Lage? Ist die Charttechnik zu vernachlässigen?
Danke.
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.
http://www.haaretz.com/business/.premium-1.558958
http://translate.google.de/...usiness%2F.premium-1.558958&act=url
Banking source say Beny Steinmetz’s BGS Real Estate is taking part in the acquisition of Pangaia, the National Bank of Greece’s real estate arm.
Private equity firm Invel Real Estate, part-owned by Israeli businessman Beny Steinmetz’s BGS Real Estate, is close to buying a majority stake in Greek real estate company Pangaia, two bankers close to the deal told Reuters.
The stake is currently owned by National Bank of Greece, the country's largest lender. “The agreement will close in the next 10 days. Invel will acquire about 66 percent of Pangaia for more than 600 million euros [$808 million],” one of the bankers said.
Invel will pay part of the purchase price in cash, contribute equity in the form of real estate and finance the rest with a loan from National Bank, the bankers said. Dutch-based Invel was set up in March to take advantage of opportunities in the European real estate market by offering investors the ability to co-invest in deals.
Steinmetz’s BSG Real Estate will be one of the co-investors in Pangaia, the bankers said. Steinmetz is best known in Israel as a diamond miner and trader.
“NBG will retain management control at Pangaia for five years,” one of the bankers said. “The loan by NBG for part of the majority stake will be at a spread of 275 basis points, secured by real estate contributed by Invel.”
Pangaia’s real estate portfolio includes office buildings, branches operated by National Bank and other property recently acquired from the country’s privatization agency. Pangaia may pursue a listing on the Athens stock exchange by 2015, one of the bankers said.
The agreement has been approved by the Hellenic Financial Stability Fund, the bank rescue vehicle that recapitalized the country’s big four banks in the summer and is now their major shareholder, one of the bankers said.
Last month, Canadian firm Fairfax Financial Holdings announced its intention to raise its stake in Greek real estate firm Eurobank Properties.
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http://www.finanzen.net/nachricht/aktien/...-Rezession-voraus-2795625
Erwartet wird ein Plus von 0,6 Prozent, wie der stellvertretende Finanzminister Christos Staikouras am Donnerstag ankündigte. Zudem werde die Wirtschaft im laufenden um 4 Prozent schrumpfen und damit etwas weniger stark als zum Jahresanfang (4,5 Prozent) angenommen. Erneut ohne Ergebnis blieben die Verhandlungen mit den Sparkontrolleuren, die aus Athen abreisten. Sie streiten sich weiter mit der Regierung über Reformfortschritte und Haushaltslücken.
Es habe zwar "gute Fortschritte" gegeben, "einige Themen" seien jedoch noch offen, erklärten die Geldgeber am Donnerstag. Die Troika aus EU, Internationalem Währungsfonds (IWF) und Europäischer Zentralbank (EZB) werde aber voraussichtlich Anfang Dezember wieder nach Athen reisen, hieß es. Streitpunkte sind nach den Informationen der Fehlbetrag im Haushalt für das kommende Jahr, zudem das Problem der ausstehenden Privatisierungen und der Verwaltungsabbau. Es geht um die Freigabe einer weiteren Kredittranche von einer Milliarde Euro für das chronisch am Rande der Pleite stehende Land.
Die Geldgeber beziffern das Loch im Budget für 2014 nach neuesten Schätzungen auf bis zu 1,5 Milliarden Euro und fordern weitere Sparmaßnahmen. Die Regierung schätzt die Lücke dagegen nur auf 500 bis höchstens 800 Millionen Euro und geht davon aus, dass der Betrag durch Reformen und ein weiter verbessertes Eintreiben von Steuern eingesammelt werden kann. Eine nochmalige Kürzung von Renten oder eine neue Steuer könnte zur sozialen Explosion und zum Sturz der Regierung des konservativen Regierungschefs Antonis Samaras führen, warnten höchste Regierungskreise wiederholt.
Die Probleme werden nach Regierungsangaben in Athen auch im Mittelpunkt des Treffens von Samaras mit Bundeskanzlerin Angela Merkel an diesem Freitag in Berlin stehen. Internationale Hilfe wird Griechenland allen Anzeichen nach auch 2015 und 2016 brauchen. Die Rede ist von insgesamt mehr als zehn Milliarden Euro.
Der griechische Finanzminister Ioannis Stournaras legte dem Parlament am Donnerstag einen Haushaltsentwurf für 2014 ohne das grüne Licht der Troika vor. Daraus geht auch hervor, dass das Land erstmals nach mehreren Jahren Ende 2013 einen kleinen primären Überschuss (ohne Zinsen) von 812 Millionen Euro erzielen wird. Für 2014 ist ein größerer Überschuss von 2,96 Milliarden Euro vorgesehen. Auch dieser Überschuss ist ohne Berücksichtigung der Zinszahlungen für die hohen Schulden. Der Haushalt könnte allerdings noch geändert werden, wenn die Gespräche mit der Troika abgeschlossen sind, hieß es aus Kreisen des Finanzministeriums.
Das Defizit soll 2014 nach der Prognose (ohne den Schuldendienst) 2,3 Prozent vom Bruttoinlandsprodukt (2009 vor den Hilfsmaßnahmen: 15,7 Prozent) betragen. Die Arbeitslosigkeit werde leicht sinken, von der Rekordhöhe von 25,5 Prozent im Jahresdurchschnitt 2013 auf 24,5 Prozent 2014. "Der Haushalt zeigt, dass die Bemühungen des griechischen Volkes Früchte tragen", sagte Stournaras im griechischen Fernsehen./tt/DP/jkr
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http://www.reuters.com/article/2013/11/25/...bg-idUSL5N0JA3TI20131125
http://translate.google.de/...e-nbg-idUSL5N0JA3TI20131125&act=url
National Bank of Greece seals $880 mln property deal
Mon Nov 25, 2013 12:56pm EST
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* Invel Real Estate to buy 66 pct of NBG's Pangaia property unit
* Greece's NBG to get 161 mln euros in cash under 653 mln-euro deal
Nov 25(Reuters) - National Bank of Greece, the country's largest lender, said on Monday it has agreed to sell a majority stake in its real estate arm Pangaia to private equity firm Invel Real Estate in a 653 million-euro ($882 million) deal.
The sale, which was revealed last week, is part of a restructuring by National Bank (NBG) aimed at boosting its capital base.
Greece's top four banks are being overhauled under plans agreed with the European Union and the International Monetary Fund in accordance with the terms of their bailouts and involving job cuts, branch closures and asset sales.
Under the terms of the latest deal Invel will acquire 66 percent of Pangaia, NBG said in a statement, and will pay 161 million in cash, contribute equity in the form of real estate and also take out a loan from NBG.
Several investment funds have recently bought stakes in Greek companies, betting on the country's economic recovery after six years of austerity-fuelled recession.
Pangaia's real estate portfolio includes office buildings, branches operated by NBG and other property recently acquired from the country's privatisation agency.
Pangaia will pursue a listing on the Athens stock exchange in 2015, the statement said. Greece's bank bailout fund, the HFSF which has majority ownership of NBG following its recapitalisation in the summer, has approved the sale, the bank said. ($1=0.7404 euros) (Reporting by Harry Papachristou; Editing by Greg Mahlich)
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Bin vorgestern raus und warte nun auf den erneuten Einstieg.....
http://www.handelsblatt.com/finanzen/...itwuerdigkeit-an/9151528.html
New York Als letzte der drei großen Ratingagenturen hat auch Moody's die Kreditwürdigkeit des krisengeschüttelten Griechenlands heraufgestuft. Das Mittelmeerland werde nun mit „Caa3“ nach bislang „C“ bewertet, teilten die Bonitätswächter am Freitag mit. in den vergangenen zwölf Monaten hatten auch Standard & Poor's und Fitch Griechenland bessere Noten gegeben. Allerdings liegt die Bewertung bei allen drei Agenturen weiterhin im Ramsch-Bereich.
Moody's begründete die Hochstufung mit der Erwartung, dass Griechenland seine Haushaltsziele für 2014 erreichen und nach sechs Jahren der Rezession den Tiefpunkt überwunden habe. Zur Begründung verwies Moody's am Freitag auf „die Fortschritte der Regierung bei der Konsolidierung des Haushalts im Rahmen des von der Troika unterstützten Programms“.
Außerdem führe „die Verbindung zyklischer Faktoren und der Umsetzung der Strukturreformen zur graduellen Verbesserung der Wachstumsperspektiven“, erklärte die Ratingagentur.
Es werde damit gerechnet, das Griechenland im kommenden Jahr einen Primärüberschuss von knapp 1,5 Prozent erzielen werde, erklärte die Agentur mit Blick auf einen Haushaltsüberschuss ohne Berücksichtigung von Zinszahlungen. Den Ausblick bewertete Moody's als stabil. Die Verschuldung des Euro-Landes liegt derzeit bei rund 175 Prozent seiner Wirtschaftsleistung.
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Fitch Ratings has upgraded National Bank of Greece S.A.'s (NBG, B-/Stable/B) Programme I mortgage covered bonds to 'B+' from 'B'. The Outlook is Negative.
http://www.reuters.com/article/2013/12/03/...-b-idUSFit67886520131203
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http://www.streetinsider.com/Credit+Ratings/...ngs+(NBG)/8958981.html
übersetzer
http://translate.google.de/...%2B%28NBG%29%2F8958981.html&act=url
Moody\'s Investors Servicehas upgraded to B3 from Caa2 the ratings of the mortgage covered bonds issued by Alpha Bank A.E. (Alpha Bank, under its Direct Issuance Global Covered Bond Programme), Eurobank Ergasias S.A. (Eurobank, under both of its programmes) and National Bank of Greece S.A. (NYSE: NBG).
RATINGS RATIONALE
Today's rating actions reflect Moody's decision to raise the Greek country ceiling to B3 from Caa2, following the upgrade of Greece's government bond rating to Caa3 from C, and upgrades of the deposit ratings of Alpha Bank and NBG.
For further information on the rating action on Greece, please refer "Moody's upgrades Greece's government bond rating to Caa3 from C; stable outlook" published on 29 November 2013. For further information on the rating actions on the deposit ratings, please refer to "Moody's takes positive rating actions on five Greek banks" published on 6 December 2013.
KEY RATING ASSUMPTIONS/FACTORS
Moody's determines covered bond ratings using a two-step process: an expected loss analysis and a "timely payment indicator" (TPI) framework analysis.
-- EXPECTED LOSS
Moody's uses its Covered Bond Model (COBOL) to determine a rating based on the expected loss on the bond. COBOL determines expected loss as (1) a function of the issuer's probability of default (measured by the issuer's rating); and (2) the stressed losses on the cover pool assets following issuer default.
The cover pool losses are an estimate of the losses Moody's currently models if the relevant issuer defaults. Moody's splits the cover pool between market risk and collateral risk. Market risk measures losses stemming from refinancing risk and risks related to interest-rate and currency mismatches (these losses may also include certain legal risks). Collateral risk measures losses resulting directly from the cover pool assets' credit quality. Moody's derives collateral risk from the collateral score.
The cover pool losses of Alpha Bank Direct Issuance Global Covered Bond Programme are 27.6%, with market risk of 18.3% and collateral risk of 9.3%. The collateral score for this programme is currently 13.9%. The over-collateralisation (OC) in this cover pool is 14.9%, of which Alpha Bank provides 5.3% on a "committed" basis. The minimum OC level that is consistent with the B3 rating target is 0%, of which the issuer should provide 0% in a "committed" form. These numbers show that Moody's is not relying on "uncommitted" OC in its expected loss analysis.
The cover pool losses of Eurobank Ergasias S.A. Mortgage Covered Bonds are 27.6%, with market risk of 18.1% and collateral risk of 9.4%. The collateral score for this programme is currently 14.1%. The OC in this cover pool is 14.5%, of which Eurobank provides 5.3% on a "committed" basis. The minimum OC level that is consistent with the B3 rating target is 0%, of which the issuer should provide 0% in a "committed" form. These numbers show that Moody's is not relying on "uncommitted" OC in its expected loss analysis.
The cover pool losses of Eurobank Ergasias S.A. Mortgage Covered Bonds II are 44.3%, with market risk of 27.3% and collateral risk of 17.0%. The collateral score for this programme is currently 25.4%. The OC in this cover pool is 21.6%, of which Eurobank provides 5.3% on a "committed" basis. The minimum OC level that is consistent with the B3 rating target is 0%, of which the issuer should provide 0% in a "committed" form. These numbers show that Moody's is not relying on "uncommitted" OC in its expected loss analysis.
The cover pool losses of National Bank of Greece S.A. Global Covered Bond Programme are 47.1%, with market risk of 33.6% and collateral risk of 13.5%. The collateral score for this programme is currently 20.2%. The OC in this cover pool is 93.4%, of which NBG provides 81.8% on a "committed" basis. The minimum OC level that is consistent with the B3 rating target is 0%, of which the issuer should provide 0% in a "committed" form. These numbers show that Moody's is not relying on "uncommitted" OC in its expected loss analysis.
The cover pool losses of National Bank of Greece S. A. Covered Bond Programme II are 28.8%, with market risk of 16.8% and collateral risk of 12.0%. The collateral score for this programme is currently 17.9%. The OC in this cover pool is 12.3%, of which NBG provides 5.3% on a "committed" basis. The minimum OC level that is consistent with the B3 rating target is 0%, of which the issuer should provide 0% in a "committed" form. These numbers show that Moody's is not relying on "uncommitted" OC in its expected loss analysis.
For further details on cover pool losses, collateral risk, market risk, collateral score and TPI Leeway across covered bond programmes rated by Moody's please refer to "Moody's EMEA Covered Bonds Monitoring Overview", published quarterly. All numbers in this section are based on the most recent Performance Overviews (based on data as of 30 September 2013 and 30 June 2013 for National Bank of Greece S. A. Covered Bond Programme II , respectively).
-- TPI FRAMEWORK
Moody's assigns a TPI, which indicates the likelihood that the issuer will make timely payments to covered bondholders if the issuer defaults. The TPI framework limits the covered bond rating to a certain number of notches above the issuer's rating.
The TPI Moody's assigns to the covered bonds issued by NBG under its first programme remains at Very Improbable. The TPIs assigned to the other programmes remain at Improbable.
FACTORS THAT WOULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
The issuer's credit strength is the main determinant of a covered bond rating's robustness. The TPI Leeway measures the number of notches by which Moody's might downgrade the issuer's rating before the rating agency downgrades the covered bonds because of TPI framework constraints.
The TPI Leeway for these programmes is limited, and thus any downgrade of the issuer ratings may lead to a downgrade of the covered bonds.
A multiple-notch downgrade of the covered bonds might occur in certain limited circumstances, such as (1) a sovereign downgrade negatively affecting both the issuer's senior unsecured rating and the TPI; (2) a multiple-notch downgrade of the issuer; or (3) a material reduction of the value of the cover pool.
RATING METHODOLOGY
The principal methodology used in these ratings was "Moody's Approach to Rating Covered Bonds", published in July 2012. Please see the Credit Policy page on www.moodys.com for a copy of this methodology.
Please note that on 19 September 2013, Moody's released a Request for Comment, requesting market feedback in which it proposes an adjustment to the anchor point it uses in its covered bond analysis. If the revised Credit Rating Methodology is implemented as proposed, the Credit Ratings of the covered bonds may be affected. Please refer to Moody's Request for Comment, titled "Approach to Determining the Issuer Anchor Point for Covered Bonds" for further details regarding the implications of the proposed Credit Rating Methodology changes on Moody's Credit Ratings https://www.moodys.com/research/...t-for-Covered-Bonds--PBS_SF342448.
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