NBG Group Interim Financial Statements
for the period ended 31 March 2026
May 2026
Table of Contents 2
Table of
Contents
Financial Statements
Statement of Financial Position
Income Statement
Statement of Comprehensive Income
Statement of Changes in Equity - Group
Statement of Cash Flows
NOTE 1 General information
NOTE 2 Basis of preparation and material accounting policies
2.1 Basis of preparation
2.2 Going concern
12 2.3 New and Amended Standards and Interpretations
13 2.4 Critical judgments and estimates
14 NOTE 3 Segment reporting
18 NOTE 4 Net trading income/(loss) and results from investment securities and Gains/(losses) arising from the derecognition of financial assets measured at amortised cost
18 NOTE 5 Credit provisions and other impairment charges
19 NOTE 6 Restructuring costs
19 NOTE 7 Tax benefit/(expense)
NOTE 8 Earnings per share
NOTE 9 Loans and advances to customers
NOTE 10 Assets and liabilities held for sale
NOTE 11 Due to banks
25 NOTE 12 Due to customers
26 NOTE 13 Debt securities in issue and other borrowed funds
26 NOTE 14 Contingent liabilities, pledged assets and credit commitments
28 NOTE 15 Share capital, share premium, treasury shares and other equity instruments
29 NOTE 16 Movements in other comprehensive income/ (expense)
30 NOTE 17 Related party transactions
31 NOTE 18 Capital adequacy
34 NOTE 19 Fair value of financial assets and liabilities
39 NOTE 20 Acquisitions, disposals and other capital transactions
40 NOTE 21 Group companies
42 NOTE 22 Events aΛer the reporting period
Statement of Financial Position 3
as at 31 March 2026
Group
€ million Note 31.03.2026 31.12.2025
ASSETS | |||
Cash and balances with central banks | 5,617 | 5,459 | |
Due from banks | 2,702 | 2,261 | |
Financial assets at fair value through profit or loss | 751 | 703 | |
Derivative financial instruments | 1,464 | 1,443 | |
Loans and advances to customers | 9 | 40,167 | 39,559 |
Investment securities | 24,028 | 21,493 | |
Investment property | 33 | 37 | |
Current tax asset | 203 | 197 | |
Deferred tax assets | 3,596 | 3,671 | |
Equity method investments | 186 | 185 | |
Property and equipment | 1,521 | 1,516 | |
Software | 704 | 711 | |
Other assets | 1,704 | 1,546 | |
Non-current assets held for sale | 10 | 23 | 105 |
Total assets | 82,699 | 78,886 | |
LIABILITIES | |||
Due to banks | 11 | 6,478 | 2,680 |
Derivative financial instruments | 1,193 | 1,039 | |
Due to customers | 12 | 58,543 | 59,613 |
Debt securities in issue | 13 | 4,426 | 4,126 |
Other borrowed funds | 70 | 119 | |
Current income tax liabilities | 10 | 8 | |
Deferred tax liabilities | 28 | 30 | |
Retirement benefit obligations | 285 | 230 | |
Other liabilities | 1,928 | 1,958 | |
Total liabilities | 72,961 | 69,803 | |
SHAREHOLDERS' EQUITY | |||
Share capital | 15 | 915 | 915 |
Treasury shares | 15 | (189) | (127) |
Share premium | 15 | 3,542 | 3,542 |
Other equity instruments | 15 | 500 | - |
Reserves and retained earnings | 4,941 | 4,725 | |
Equity aflributable to NBG shareholders | 9,709 | 9,055 | |
Non-controlling interests | 29 | 28 | |
Total equity | 9,738 | 9,083 | |
Total equity and liabilities | 82,699 | 78,886 | |
StatementofiFnancialPoistion
Athens, 7 May 2026
THE CHAIRMAN OF THE BOARD OF DIRECTORS
THE CHIEF EXECUTIVE OFFICER THE CHIEF FINANCIAL OFFICER
GIKAS A. HARDOUVELIS PAVLOS K. MYLONAS CHRISTOS D. CHRISTODOULOU
The notes on pages 8 to 42 form an integral part of these Interim Financial Statements
Income Statement 4
for the period ended 31 March 2026
Group
3-month period ended
€ million Note 31.03.2026 31.03.2025
Interest and similar income | 653 | 688 | |
Interest expense and similar charges | (112) | (140) | |
Net interest income | 541 | 548 | |
Fee and commission income | 137 | 132 | |
Fee and commission expense | (23) | (26) | |
Net fee and commission income | 114 | 106 | |
Net trading income/(loss) and results from investment securities | 4 | (11) | (29) |
Gains/(losses) arising from the derecognition of financial assets measured at amortised cost | 4 | 80 | 48 |
Net other income/(expense) | (7) | 5 | |
Total income | 717 | 678 | |
Personnel expenses | (141) | (130) | |
Administrative and other operating expenses | (67) | (58) | |
Depreciation and amortisation on investment property, property & equipment and software | (52) | (49) | |
Credit provisions | 5 | (39) | (41) |
Other impairment charges | 5 | (3) | (1) |
Restructuring costs | 6 | (56) | - |
Share of profit/(loss) of equity method investments | (1) | - | |
Profit before tax | 358 | 399 | |
Tax benefit/(expense) | 7 | (85) | (97) |
Profit for the period | 273 | 302 | |
Aflributable to: Non-controlling interests | 1 | 1 | |
NBG equity shareholders | 272 | 301 | |
Earnings per share (Euro) - Basic and diluted | 8 | €0.30 | €0.33 |
Athens, 7 May 2026
THE CHAIRMAN OF THE BOARD OF DIRECTORS
THE CHIEF EXECUTIVE OFFICER THE CHIEF FINANCIAL OFFICER
GIKAS A. HARDOUVELIS PAVLOS K. MYLONAS CHRISTOS D. CHRISTODOULOU
The notes on pages 8 to 42 form an integral part of these Interim Financial Statements
Statement of Comprehensive Income 5
for the period ended 31 March 2026
Group
3-month period ended
€ million Note 31.03.2026 31.03.2025
Profit for the period | 273 | 302 |
Other comprehensive income/(expense): | ||
Items that will be reclassified to the Income Statement: | ||
Investments in debt instruments measured at fair value through other comprehensive income ("FVTOCI"), net of tax | (46) | (7) |
Currency translation differences, net of tax | - | 67 |
Cash flow hedge, net of tax | (1) | - |
Total of items that will be reclassified to the Income Statement | (47) | 60 |
Items that will not be reclassified to the Income Statement: Investments in equity instruments measured at FVTOCI, net of tax | (5) | - |
Total of items that will not be reclassified to the Income Statement | (5) | - |
Other comprehensive income/(expense) for the period, net of tax 16 | (52) | 60 |
Total comprehensive income/(expense) for the period | 221 | 362 |
Aflributable to: Non-controlling interests | 1 | 1 |
NBG equity shareholders | 220 | 361 |
Athens, 7 May 2026
THE CHAIRMAN OF THE BOARD OF DIRECTORS
THE CHIEF EXECUTIVE OFFICER THE CHIEF FINANCIAL OFFICER
GIKAS A. HARDOUVELIS PAVLOS K. MYLONAS CHRISTOS D. CHRISTODOULOU
The notes on pages 8 to 42 form an integral part of these Interim Financial Statements