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National Bank Of Greece's CEO Discusses Q3 2011 Results - Earnings Call Transcript

National Bank of Greece SA (NBG)

Q3 2011 Results Earnings Call

November 29, 2011 11:00 AM ET


Paul Mylonas – Chief Economist, Chief Strategist and Head, Investor Relations

Anthimos Thomopoulos – Deputy CEO

Babis Mazarakis – Chief Financial Officer

Fragkiadakis – Group Treasurer


Joe Rooney – Autonomy Capital

Alexandre Dergatcheff – UBS

Pavel Usco – KBW

Niall O’Connor – Credit Suisse

Stefan Nedialkov – Citi

Heiner Luz – Goldman Sachs



Good afternoon, ladies and gentlemen. And welcome to the announcement of Nine Month 2011 Results. My name is [Si], and I’ll be your coordinator for today’s conference. For the duration of the call, you will be on listen-only. However, at the end of the call, you will have the opportunity to ask questions. (Operator Instructions)

I’m now handing over to your host to begin today’s conference. Thank you.

Paul Mylonas

Good afternoon. This is Paul Mylonas. I’m here with Anthimos Thomopoulos, the Deputy CEO; with Babis Mazarakis, the CFO; and Mr. Fragkiadakis, the Group Treasurer. Thanks for joining us for the Q3 results call, and as usual, we’ll start off with remarks from Anthimos and then we’ll go to Q&A.

Anthimos Thomopoulos

Thanks, Paul. Good afternoon, everyone from me as well. Good morning to those of you dialing in from the U.S.

Let me start with the key highlights of this quarter. In an environment be set by uncertainty, the nine month attributable PAT came close to flat at just minus €7 million. Obviously, before the impact of our participation in the PSI program and the impairment charges we took in the second quarter for the Greek government bonds that we hold.

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