National Bank Group reported organic profits of 508 million euros in the first half of 2023, of which 288 million in the second quarter of the year.
“The Greek economy is in a favorable and rare economic and political conjuncture as regards the improved prospects for a world recovery, combined with its own hard-won competitiveness and solid prospects for further reform. Specifically, economic activity remains relatively strong, and inflation is dropping rapidly, while the European economy appears set to recover from the successive price shocks and the concomitant tightening of monetary and fiscal policy,” Pavlos Mylonas, the bank’s CEO, commenting on the results.
“In this positive environment, Greece’s economic growth is driven by investment and exports, supported by significant FDI, drawn by the attractiveness of the economy. Building on the country’s sustained growth momentum and the Bank’s strong fundamentals, we have delivered a compelling financial performance in the first half of 2023, underpinned by the unique strength of our balance sheet and our successful transformation,” he added.
“At the same time, our liquidity position remains a strong competitive advantage, consisting of a large and stable core deposit base, while our net cash position has increased further to near 7 billion euros,” Mylonas underlined.
