N ti National Bank of Greece l B k f G 1 st Quarter 2013 Results 1 - PowerPoint PPT Presentation

N ti National Bank of Greece l B k f G 1 st Quarter 2013 Results 1 Quarter 2013 Results May 24 th , 2013

Highlights National Bank of Greece | Q1.13 Results Q1 2013 Highlights Consolidated Profit & Loss Account € mn Q1.13 Q1.12 yoy% Q4.12 qoq% Q1.13 Attributable PAT reaches €186mn, the 2 nd consecutive   NII NII 772 772 909 909 ‐ 15% 15% 800 800 ‐ 3% 3% quarter with positive bottom line. Net fees 135 127 +6% 126 +7%  Pre ‐ provision earnings up by 44% yoy at €352mn, supported by Insurance income 14 45 ‐ 68% 32 ‐ 55% a bottoming out of NII ( ‐ 3% qoq) and the absence of the trading Core Revenues 922 1 081 ‐ 15% 958 ‐ 4% losses suffered in Q1 12 losses suffered in Q1.12. Trading & other income (7) (276) ‐ 97% 40 ‐  Loan provision charges decline due to a clear moderation in the Income 915 805 +14% 998 ‐ 8% generation of domestic past due loans beginning in Q4.12 and continuing in Q1.13. g Q Operating Expenses (563) (560) +1% (637) ‐ 12% Pre ‐ Provision Earnings 352 245 +44% 361 ‐ 3%  Rationalization of operating expenses continues, spearheaded Loan Provision Charges (428) (505) ‐ 15% (659) ‐ 35% by Greece: ‐ 24% since 2010 and ‐ 10% yoy. Other impairments 276 (72) ‐ 343 ‐ 20%  Over and above the record profitability achieved in Turkey Taxes (7) 71 ‐ (143) ‐ 95% during 2012, attributable PAT in Q1.13 is up by 23% yoy driven Minorities & non ‐ cash charges (7) (3) +96% (6) +19% by core income growth (+21% yoy) Attrib. PAT (before one ‐ offs) 186 (265) ‐ (104) ‐   Group L/D continues to improve approaching the 100% level, / h h l l Impairment of Eurobank (159) ‐ ‐ ‐ ‐ with at a best in class 95% domestically; strong deposit gathering continues in Turkey and SEE, resulting in the closure FB Insurance sale and one ‐ offs ‐ ‐ ‐ 140 ‐ of funding gaps PSI impact (after tax) ‐ (466) ‐ 279 ‐  Attributable PAT 27 (731) ‐ 315 ‐ 91% Proforma Core Tier 1 ratio at 9.3% page 2

Highlights National Bank of Greece | Q1.13 Results Group top line supported by strong core income generation in Turkey, and the bottoming out of NII pressure in Greece Group Income Group Net Interest Margin & NII Pre ‐ Provision Earnings Group NIM ‐ bps Group NII qoq breakdown (€mn) € mn Q1.13 Q1.12 yoy% NII € mn Q1.13 Q4.12 Δ qoq 772 909 ‐ 15% 400 400 383 Net fees 135 127 +6% Greece 365 358 +7 Closing of 361 359 370 Insurance income 14 45 ‐ 69% duration gap Turkey 336 363 ‐ 27 346 Core Revenues 922 1081 ‐ 15% 340 SEE & Int’l 72 78 ‐ 6 Trading & other Income (7) (276) ‐ 97% 310 310 Group NII Group NII 772 772 800 800 ‐ 28 ‐ 28 Total Group Income 915 805 +14% Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Greece: NII & NIM Greece: NII & NIM Turkey: NII & NIM Turkey: NII & NIM SEE: NII & NIM SEE: NII & NIM NII (TL mn) NIM (bps) NII (€mn) NIM (bps) NII (€mn) NIM (bps) 844 788 752 726 347 569 569 377 377 702 702 330 616 312 329 306 327 322 677 461 662 299 643 394 358 365 NII (€mn) 78 336 586 263 363 333 313 64 66 262 60 63 62 252 252 244 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 page 3

Highlights National Bank of Greece | Q1.13 Results OpEx rationalization continues: Greece ‐ 10% yoy, ‐ 24% since 2010 Group Operating Expenses Greece G&As & Depreciation ‐ €mn Personnel expenses ‐ €mn € mn Q1.13 Q1.12 yoy% 300 130 Personnel expenses 323 342 ‐ 6% 271 ‐ 23% ‐ 24% 115 255 G&As G&As 190 190 169 169 +12% +12% 250 235 110 104 Depreciation 50 48 +4% 208 93 88 200 90 Operating expenses 563 560 +1% 150 70 100 50 € mn Q1.13 Q1.12 yoy% 1.10 1.11 1.12 1.13 1.10 1.11 1.12 1.13 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Greece 306 328 ‐ 7% G&As & Depreciation ‐ YoY growth Personnel expenses ‐ YoY growth Personnel expenses 208 235 ‐ 12% 10% 10% G&A’s 63 68 ‐ 8% ‐ 10% +5% +5% 0% 0% Depreciation 25 25 +0% ‐ 5% ‐ 6% Integration costs 10 ‐ ‐ ‐ 10% ‐ 10% ‐ 8% ‐ 10% ‐ 11% ‐ 12% Turkey Turkey 195 195 166 166 +18% +18% ‐ 20% 20% ‐ 20% 20% Q1.10 Q1.11 Q1.12 Q1.13 Q1.10 Q1.11 Q1.12 Q1.13 SEE & other 63 66 ‐ 5% page 4

Highlights National Bank of Greece | Q1.13 Results Marked deceleration in 90dpd formation in Greece in Q4.12 is confirmed in Q1.13 +90dpd Evolution CoR, Pre ‐ provision margin & +90dpd flows Group: +90dpd Greece: +90dpd Group: Cash Coverage Group: +90dpd flows 26% 24.3% +1 600 23.1% 21% 19.8% +1 244 21.9% +1 162 54% 19.0% 22% 22% +1 200 +1 200 56% 56% 54% 54% +1 060 +1 060 54% 54% 53% 19.3% 19% 18.2% 21.9% 21.0% 20.0% +800 18% +662 +616 16.5% 15.9% 17% excl. deleverage effect 13.0% +400 14% 14% 15% 14.4% +0 10% 13% Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Group Cost of Risk ‐ bps Turkey: +90dpd SEE: +90dpd 30% 8% 600 7% 26% 24.1% 5.8% 500 23.3% 23.1% 434 22.3% 22.3% 418 418 415 415 5.5% 6% 21.0% 5.2% 22% 5.1% 5.0% 400 311 5% 271 18% 300 4% 14% 200 3% 3% 10% 2% 100 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 page 5

Highlights National Bank of Greece | Q1.13 Results Group L:D approaches 100% and Greece at a best in class 95%, as deposit recovery extends across all geographies Loans / Deposits Turkey: Deposits SEE: Deposits adjusted for €0.6bn covered bonds TL 35.2bn SEE: €5.3bn 35.1 5.1 116% TL retail 4.9 114% 4.7 4.7 + 23%yoy 32.4 Group 111% bonds 110% 111% +11% yoy 107% 109% 104% 29.1 28.7 +4% qoq 102% 110% 105% 106% 105% 106% 108% 108% 105% 104% 99% 95% 92% Greece Q1.11 Q2.11 Q3.11 Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Greece: Deposits Evolution Eurosystem Funding (€bn) Market Shares ‐ % 100% ELA Savings €mn Q1.13 Q4.12 qoq 34.7 33.0 35.1% 34.8% 35.1% 34.8% 34.7% 34.5% 30.9 34.1% 32.0 Savings 15 119 15 650 ‐ 3% 31.2 €24.5bn ECB / 27.5 €3.0bn ELA Sight Sight 5 545 5 327 +4% 24.8% 23.8% 23.8% 23.3% 22.9% 22.0% Time deposits 18 389 17 052 +8% 19.6% Time deposits Customer deposits 39 053 38 030 +3% 9.8bn EFSF bonds that can be repoed h b d 16.1% 16.1% 15.9% 15.9% 15.6% in the market; State & Public entities 995 852 +17% 15.3% 14.9% Net Eurosystem 17% of Group Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Q3.11 Q4.11 Q1.12 Q2.12 Q3.12 Q4.12 Q1.13 Total 40 048 38 882 +3% Assets page 6

Highlights National Bank of Greece | Q1.13 Results Pro ‐ forma Core Tier 1 ratio of the Group at 9.3% P Proforma Combined Capital Adequacy f C bi d C it l Ad Proforma €mn 31.3.13 31.3.13 Including the LME for the Lower Tier 1 (€170mn pool) Core Tier I Core Tier I 5 075 5 075 5 135 5 135 Lower Tier I 561 561 Total Capital 5 636 5 696 c. €3.6bn of RWAs reduction arising from the implementation of Finansbank’s IRB roll out plan; subject to regulatory approval bj t t l t l RWAs 58 945 55 345 Core Tier I ratio 8.6% 9.3% Total CAD 9.6% 10.3% page 7

N ti National Bank of Greece l B k f G 1 st Quarter 2013 Results: Greece 1 Quarter 2013 Results: Greece May 24 th , 2013

Segment review: Greece National Bank of Greece | Q1.13 Results The bottoming out of the negative drivers on NII and the moderation in npl creation results in a positive bottom line, excluding one ‐ offs € mn Q1.13 Q1.12 yoy% Q4.12 qoq%   NII bottoms out in Q1.13; headwinds set to reverse NII bottoms out in Q1 13; headwinds set to reverse NII 365 365 569 569 ‐ 36% 36% 358 358 +2% 2% gradually through the year as funding mix improves Net fees 5 9 ‐ 40% (1) ‐  Insurance income 14 35 ‐ 59% 27 Cost cutting continues unabated: ‐ 10% yoy, driven by ‐ 48% personnel costs cuts of 12% yoy in Q1.13 Core Banking Revenues 385 613 ‐ 37% 385 0%  Trading & other income (42) (273) ‐ 85% 26 ‐ 262% Asset quality deterioration moderates substantially for a second quarter in a row at +120bps, pushing CoR Income 343 341 +1% 410 ‐ 16% down to 329bps while maintaining provision coverage Wages & Salaries (208) (235) ‐ 12% (207) +0% at a high level (53%) t hi h l l (53%) G&As & Depreciation (98) (93) +5% (114) ‐ 14%  In line with improvement in the credit profile of the Operating Expenses * (306) (328) ‐ 7% (321) ‐ 5% Greek sovereign, write backs continue amounting to Pre ‐ Provision Earnings 37 12 >100% 89 ‐ 58% €276mn in Q1 13 €276mn in Q1.13 Loan Provision charges (318) (419) ‐ 24% (523) ‐ 39%  FBB purchase and assumption of asset and liabilities: Other impairments 276 (72) ‐ 343 ‐ 20% − €1.1bn of gross loans with provisions to be determined by Taxes 30 98 ‐ 69% (108) ‐ 128% an independent auditor, c.€1bn of deposits and c. 0.7bn of p , f p f EFSF notes Minorities & non ‐ cash charges (6) (3) >100% (5) 20% − RWAs to be capitalized by HFSF at 9% Attrib. PAT (before one ‐ offs) 20 (384) ‐ (203) ‐ − 19 branches, 260 employees Other one ‐ offs** (159) (466) ‐ 279 ‐ Attributable PAT (139) (850) ‐ 84% 77 ‐ * incl. €10mn integration costs ** €159mn Eurobank m ‐ t ‐ m page 9