National Bank of Greece (ADR): What the Future Looks Like National Bank of Greece stock has lost over 90% in YTD
By Abdul Wasay on Feb 8, 2016 at 12:36 pm EST
As Greek Prime Minister Alexis Tsipras puts it, the only way for Greece to overcome the crisis is to support the weakest elements in the economy and restart the whole economic system. In order for the country to get back on its feet, it is necessary that public and private sectors work hand in hand. National Bank of Greece rides in the same boat and has the same worries associated with the broader economy.
National Bank of Greece (ADR) (OTCMKTS:NBGGY), the biggest lender of Greece, saw its stock slump over 90% in the year-to-date (YTD) measure. The bank saw its stock delisted from the New York Stock Exchange after failing to meet the regulator’s requirement. 2015 was a tough year for the bank; it saw immense pressure from shareholders as the stock crumbled to pennies. In the same year, the bank was faced with capital controls followed with dilutive recapitalization.