National Bank of Greece - Price Target $7.75 $NBG

National Bank of Greece (ADR) (NYSE:NBG)

National Bank of Greece SA (the Bank) is a Greece-based financial institution. It provides a range of financial services including retail and commercial banking, asset management, brokerage, investment banking, insurance and real estate at a global level. Its segments are: Retail Banking, which mainly offers different types of loans, deposits and investment products; Corporate and Investment Banking, which includes financial and investment advisory services, deposit accounts, loans, foreighn exchange and trade service activities; Global Markets and Asset Management, which includes all treasury activities, private banking, asset management, custody services, private equity and brokerage; Insurance; International Banking Operations; Turkish Banking Operations, as well as Other.

Points to consider;

• Highly leveraged outside of Greece
• Strengthening Euro trend for Q3/Q4 2014 
• Lower funding costs and reduced provisions for bad loans
• The bank posted a net profit of 809 million euros ($1.13 billion) versus a loss of 2.14 billion a year earlier. 
• Instability in the region due to Russian and Ukrainian tension may add volatility to the stock price

In September 2013, state-owned Hellenic Financial Stability Fund acquired an 84.39% interest in the Company. On December 30, 2013, it sold a 66% of its subsidiary National Pangaea REIC to Invel Real Estate II BV.