Awards for excellence - Greece
National Bank of Greece
Best debt house
Citigroup/Schroder Salomon Smith Barney
Best equity house
EFG Eurobank Ergasias
Best M&A house
National Bank of Greece is the country's largest bank with, analysts estimate, a share of around 40% of national deposits and 30% of loans. The bank is a leader in domestic retail and commercial banking and, increasingly so, in investment banking. "Don't let the degree of government ownership fool you," says one Greek investment banker working for a leading international firm, [the state still owns15% of the bank which has been privatized in stages] "National Bank of Greece is an impressive outfit."
If reported results are any guide, he's not kidding. National Bank of Greece posted a return on equity of 27.3% for 2000 and an efficiency ratio of 50% - figures that might bring a blush to the cheeks of the chairmen of many banks among its western neighbours. And it's not as if the bank is under-capitalized. It has a 12.2 % capital adequacy ratio.
Like most Greek banks, National Bank of Greece has been keenly aware of the prospect of increased competition following the country's entry into the euro bloc.