National Bank of Greece (NBG) Stock Down as Creditors Leave Talks

NEW YORK (TheStreet) -- Shares of the National Bank of Greece (NBG) are falling by 2.26% to $1.30 on heavy volume in early afternoon trading on Thursday, as Greece's creditors withdraw their negotiating team and leaders in Europe say the time for making compromises is over, the Financial Times reports.

Greece and its creditors were holding meetings in Brussels in order to come to a resolution that would keep the debt-riddled country from bankruptcy.

"We need decisions not negotiations now. It's my opinion that the Greek government has to be, I think a little more realistic," the European Council President Donald Tusk said, the Financial Times added.

"There's no more space for gambling, there's no more time for gambling. The day is coming, I'm afraid, where someone says the game is over," Tusk continued.

The lead negotiators from the International Monetary Fund, to whom Greece owes a 1.5 billion euro loan payment on June 30, returned to Washington due to "major differences" and stalled progress in negotiations, Financial Times noted.

Separately, TheStreet Ratings team rates NATIONAL BANK OF GREECE as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate NATIONAL BANK OF GREECE (NBG) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, poor profit margins and weak operating cash flow."

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