Leading Ahead 10 - NBG ... Leading Ahead ISSUE NO. 10 - July 2008 خ•خکخ‌خ™خڑخ—...

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Transcript of Leading Ahead 10 - NBG ... Leading Ahead ISSUE NO. 10 - July 2008 خ•خکخ‌خ™خڑخ—...

  • a periodical publication for the employees of the NBG Group

    Leading Ahead ISSUE NO. 10 - July 2008

    Ε Θ Ν Ι Κ Η Τ Ρ Α Π Ε Ζ Α

    Improving Teller services

    Banca Romaneasca

    Social Responsibility Award

    Improving Teller services

    Banca Romaneasca

    Social Responsibility Award

    Photo: Nikos Kanellopoulos

  • 3 4 - 5 6 - 76 - 7

    Our NewsEditorial DevelopmentsDevelopments


    10 - 11

    Training Human ResourcesHuman Resources

    Our Group

    18 - 19

    12 - 13


    Leading Ahead Title of the Greek edition: Πρώτοι Εμείς a periodical publication for the employees of the NBG Group ISSUE NO. 2008 Editors

    10 Jully

    Internal Communication Team, Nikos Kanelopoulos, Evi Tsioni, Fotini Skarlatou, Sophia Karakassi

    (+30) 210 3342230 (or extension 12230), (+30) 210 3342919 (or extension 12919) email: epikoinonia@nbg.gr


    Internal distribution

    Please send us your views, topics you would like us to publish or even an article written by you, at epikoinonia@nbg.gr

    No part of this publication may be republished, reproduced or altered, in any form or by any means, mechanical, electronic or photocopying, without the prior written permission of the publisher (Law 2121/1983 and rules of international law in force in Greece). You can access this publication through the Web at For the Greek edition follow the path: For the English edition follow the path:

    http://ete/EsotEp/ Η Τράπεζα/Ανθρώπινο Δυναμικό/ “Πρώτοι Εμείς”

    The Bank/Human Resources/ “Leading Ahead”

  • Editorial

    It has been said many times during the course of 2008 that this is a tough year for the banking sector, that it is in fact a global

    crisis which is the result of several causes and has multiple consequences. One such is that many Banks with a very

    successful history have been forced to restructure, to change their strategy, to cut back on activities and even put themselves

    up for sale or merger. For many this has been the result of decisions that have proved too weak to stand against the tide of

    rapid developments that have taken place over the recent months.

    The familiar strategy of trying to increase performance indicators, which is used when the sector enjoys continuous and

    dynamic financial growth, high demand, low inflation and low interest rates, obviously cannot be maintained under the present

    market conditions. Indeed it will need to adapt to new circumstances. The large increase in the cost of financing obligates us to

    adopt a highly disciplined approach to the development of our business, to cash flow and to operating costs. Our performance

    in all operations, with deposits leading the way, must continue to increase dynamically and in keeping with our leading position

    in the market. At the same time we have to comply with new conditions when it comes to assuming risks and to new margin

    standards that ensure balanced growth and the continuation of profitability at the levels that NBG has established in recent


    We have managed to adjust completely to this new environment, which is a prudent course and which at the same time fosters

    a responsible attitude towards our shareholders, customers and employees in NBG. No one can dispute the fact that the

    current climate is creating difficulties and changing our work habits, especially when it comes to attracting new business. We

    need to make an even stronger effort; we need to be more persistent using appropriate arguments and an individualized

    approach to each customer. All the different types of needs that our customers have continue to exist. A business's need for

    financing, for example, is not suspended because of the environment. The same also applies to the purchase of a new house

    and to trying to get the most out of one's savings. Simply stated, the solutions that our customers are seeking have to be

    specifically tailored to their needs, they have to inspire trust and to dispel their fears.

    Our job at the moment is to be as successful as possible given the present circumstances, so that we can emerge from this

    situation stronger after having learned something from the experience. The best companies stand out from the rest when the

    going gets rough, and the most dynamic period of the year lies ahead waiting for us to take advantage of it.

    I wish everyone a good autumn!!

    General Manager Domestic Branch

    Minos Moissis

    “The best stand out when the going gets rough”


  • Our News

    Yet another first

    Purchase of

    A study was carried out during the first

    half of 2008 to rank Primary Dealers on

    the basis of their activity in the Greek

    government bond market.

    According to an announcement by the

    Bank of Greece, NBG once again found

    itself in first place. Eurobank, Morgan

    Stanley Intl. Plc, Lehman Brothers and

    others followed.

    NBG has recently acquired the building

    located on the corner of 1 Pesmatzoglou

    and Sofokleous streets from the Athens

    Stock Exchange. The building has a total

    surface area of about 3,000 square meters

    and the purchase price was €13.3 million.

    The Bank carried out this purchase as part

    of its on going initiative for preserving and

    enhancing historical buildings which have

    played a significant role in our country's

    economic history.

    In this building, which was built in 1881 and

    which has already been pronounced a

    historic listed monument, is located the

    trading room of the old Athens Stock

    Exchange. The building, which was in fact

    owned by NBG from 1932 onwards, was

    initially sold to the Stock Exchange in 1977

    on the condition that NBG would have the

    option to buy the building back in the event

    that it was put up for sale.

    for NBG

    the old Athens Stock Exchange

    building by NBG

    NBG stands resolute

    True to its commitments, NBG continues

    its major project of materially supporting

    the infrastructure of the municipalities that

    suffered damages from the catastrophic

    summer fires of 2007. On the 13 of June

    2008 at a simple ceremony in Zacharo,

    NBG delivered a large part of the

    equipment included in its donation to the

    14 fire ravaged municipalities in the

    Prefecture of Ilia. During the ceremony,

    the delivery of 13 out of a total of 39 4x4

    light fire trucks and of 6 digging machines

    took place.

    The ceremony was attended by a number

    of NBG executives including Mr.

    Alexandros Tourkolias, the Bank's General

    Manager for Corporate and Investment

    Banking, who comes from Zacharo, and Mr. Dimitris

    Dimopoulos, General Manager for

    Corporate Banking. Also present at the

    ceremony was Metropolitan Germanos of Ilia and Oleni, Metropolitan

    Chrisostomos of Trifilia and Olympia, as

    well as mayors and representatives of the

    political and military leadership of the


    As Mr. D. Dimopoulos noted in his

    speech: “Our presence concretely

    demonstrates our concern not only for the

    area but for all of Greece. Beyond the key

    role that NBG has played in development

    and in business, its very history is

    intertwined with that of our country and it

    has come forward many times when our

    country has faced difficult situations.

    During the recent earthquakes, we were

    the first bank to announce measures to

    make life easier for affected customers

    and to suspend interest and debt

    payments until 30 June 2009. We hope

    that such disasters do not occur but when

    they do you should know that we stand

    right beside you.”

    On 18 July 2008 a ceremony also took

    place at Leontari in Arkadia (the seat of

    the Municipality of Falaisia) during which

    we delivered 13 of the 17 various types of

    mechanical equipment that we are giving

    the municipality. We expect that very soon

    we will be in a position to deliver the

    remaining 4.


    at the side of the municipalities

    devastated by fire.


  • New distinctions

    Awards given to NBGI Private Equity

    Small Buyout House of the Year' - unquote” Private Equity Awards 2007

    '2007 M&A Deal of the Year' - M&A Awards 2007

    'Buyout realisation of the Year' - EVCJ Awards 2007

    Our subsidiary NBGI Private Equity achieved spectacular profits with its first set of investments in majority share capital packages, resulting in it receiving a string of awards in 2007 and 2008.

    Five of the most important industry journals in the field of Private Equity in Britain and in Europe honoured NBGI Private Equity. In each one of these cases, the winners were chosen by independent committees that were made up of senior executives working in the field or by the staff of private equity firms.

    The company has been recognized for its substantial and consistently successful investment history and for the profitable disposal of its shareholdings in

    Specific details on the awards received by NBGI Private Equity in 2008 up to now:

    The UK journal provid