a periodical publication for the employees of the NBG Group

Leading AheadISSUE NO. 14 - July 2009

N A T I O N A L B A N K

O F G R E E C E

ShareCapitalIncrease

4 - 5

Our News

3

Editorial

6 - 7

Main Article

8

Developments

9

Printed on non-chlorinated paper

Leading Ahead

Internal Communication Team,Nikos Kanelopoulos, Evi T ni, Fotini Skarlatou, So ia Karakasi

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

Title of the Greek edition: Πρώτοι Εμείςa periodical publication for the employees of the NBG GroupISSUE NO. 200Editors

Tel:

14 - July 9

oto f

Internal distribution

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

The Bank/Human Resources/ “Leading Ahead”

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

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2

Awards Developments

10 - 11

14 - 16

CSR

17 - 19

Our Group

12 - 13

Developments

Without doubt, NBG already ranked among the strongest European Banks in terms of capital before going ahead with its latest rights issue.

Clearly, in taking the decision to increase our share capital we were not motivated by any deterioration in the Group's economic fundamentals. In fact,

thanks to prudent risk management NBG not only managed to avert any damage to its capital adequacy, but rather maintained its funding to Greek

businesses and households unabated, exploiting its considerable competitive advantages to the benefit of the Greek economy.

Accordingly, it was from a position of strength that we carried out our recent share capital increase, aiming to achieve reinforce our competitive edge on a

number of levels.

First, in the aftermath of the recent crisis in the banking sector, we have strong reason to believe that both investors and the regulatory authorities

responsible for monitoring the capital strength of banks will become increasingly demanding. As the sector prepares for developments in the supervisory

framework, we anticipate that in the coming months many European banks will turn to the global markets to raise funds. We deemed it prudent for the Bank

to make this move ahead of the rush.

Second, raising new capital will further enhance healthy growth in the Group's assets, laying the foundations that will bolster our future profitability, in

anticipation of the global economic upturn that is likely to occur in the second half of 2009. We thereby prepare the Bank in a timely manner, securing

steady growth for the Group and reinforcing its role as the key source of funding for the Greek economy.

Third, while the rights issue is not directly related to funding a major acquisition, it nevertheless does provide us with the necessary financial leeway to

pursue measured actions in seeking out desirable acquisitions, within the limits we see fit, in areas that are of strategic importance to the Group. We shall

continue to pursue prudent actions in this sphere, as in the past, leveraging in the best possible way the capital of our shareholders.

By strengthening our capital base we shall add new dynamic to the Group's presence in SE Europe and open up new horizons for the future. Accordingly,

this increase in share capital brings us closer to our goals.

Best wishes,

Anthimos Thomopoulos

Chief Financial and Chief Operations Officer

“

' ”

This latest share capital increase gives us the strategic flexibility to maintain

uninterrupted funding for the growth of the Group and, moreover, enhances

further the Bank s role as the key source of financing for the Greek economy.

Our news

Conference in Patras:

“Small Businesses – Big Opportunities in Times of Crisis”

On Wednesday 17 June 2009, an educational conference

for professionals and small and medium enterprises was

carried out at the Politia multi-purpose art & cultural

centre in Patras. The conference, which was hailed as a

great success, was organized by the Branch Network V

Division with the assistance of the Strategic Marketing

and Communication Division and the local NBG Credit

Centres.

NBG was represented by its General Manager for Retail

Banking, Mr. ; the Manager for the Western

Greece Branch Network Division,

Mr. ; the Regional Manager for Patras, Mr.

; the Manager of the B3 Business Loans

Centre, Mr. ; staff of the Retail Banking

Division, and the Group Marketing and Communications

Strategy Unit. The opening address was given by the

President of the Achaia Chamber of Commerce, Mr.

.

The event was attended by a large number of individuals

from our branches in Patras, Aigio, Achaia and

Nafpaktos. The participants enjoyed the presentation by

the keynote speaker Mr. ,

Assistant General Manager for Retail Banking, on

,

which as many pointed out went straight to the heart of

the matter. Mr. Athanassopoulos emphasized to the

entrepreneurs of Patras the importance of new ideas,

choices and practices that can offer a way out of the

crisis through targeted liquidity and which have in recent

times concerned businesses. He also spoke of the wide

range of cutting-edge financing tools that the Bank offers

to businesses.

Members of the Bank's senior management expressed

their optimism regarding the business dynamic that the

Region displays and which historically has been

characterized by intensive commercial and industrial

activity. The well-established relationships that NBG

enjoys in these dynamic business sectors of the Greek

economy remain at the core of its interests. In 2009, the

Bank has already approved, in the Prefecture of Patras

alone, loans amounting to €65 million to 600 businesses

via the TEMPME funding programme in its first and

second phases.

These results, combined with other approvals of loans by

NBG to businesses in the Prefecture, which exceeded

€25 million, confirm once again the substantial support

that is being provided to boost business liquidity.

M. Moisis

G. Zografakis

Ch. Christou

H. Papakostas

K.

Antzoulatos

Andreas Athanassopoulos

Small

Businesses – Big Opportunities in Times of Crisis

Following the installation of 23 ATMs in 23

Attiko Metro stations (with another 5 to be

added soon) carried out by the Network

Operations Division with the assistance of E-

business and Alternative Channels, Corporate

Finance and Corporate Key Account Services,

the Bank concluded agreements with the ALDI

and the Galaxias supermarket

chains to install 100 and 22 ATMs respectively

in their supermarkets. In addition, negotiations

are currently in progress regarding the

expansion of the Bank's network to include

other large chain stores.

Developingthe off-site

ATM Network

On Friday 26 June 2006, a conference titled “Our

Response to the Challenges of the Day”, which was

organized by the Group Internal Audit-Inspection

Division was held in the Karatzas Building

Auditorium.

Invited to the conference were the Chairman and

CEO of the Group Mr. and the

Head of Human Resources and Group Internal

Communications Mr. . After opening

the proceedings Mr. Arapoglou answered questions

from the audience covering a wide range of

subjects, such as the current economic crisis,

strategy issues for the Bank, and so on.

Mr. Gatopoulos spoke of the strong cooperation

between the Directorates under his supervision and

the Group Internal Audit-Inspection Division. He

presented interesting facts regarding the expertise

of the internal auditors throughout the ranks and

underlined the importance that the Bank attaches to

the ongoing training of its personnel.

Group Chief Audit Executive

provided a brief overview of the activities of the

Division over the years 2006-2009, the successful

integration of the auditing services of the Internal

Audit units and the restructuring of the Division's

personnel by strengthening its ranks with top-class

officers from both NBG and other organizations in

the banking sector. He also discussed briefly the

global financial crisis and the impact that the crisis

is having on internal audit priorities on the

international level, as well as the new challenges

that internal audit units globally are being called

upon to meet.

With regard to the NBG Group, Mr. Paschas

presented the Division's new organizational

structure, which provides for the strengthening of

the responsibilities of the audit departments, as well

as the centralized planning function and the

monitoring of controls on the Group level with the

launch of a new department. He also presented the

new EGRC software that will assist the audit teams.

This new software uses the integrated auditing

methodology that is applied by all of the Group's

Internal Audit Units.

Finally, he spoke about the new method for

evaluating the productivity of the division's

personnel using an internal evaluation programme

that was developed to provide effective personnel

management, establishing incentives as well as

training needs and in general contributing to the

ongoing improvement of the work carried out by this

crucial division of the NBG Group.

Takis Arapoglou

S. Gatopoulos

Mr. G. Paschas

The Group Internal Audit-Inspection Division responds

to the challenges of the day

Following the increasing number of individuals infected by

the new influenza virus A(H1N1), we would like to once

again remind you of the measures recommended by the

Hellenic Centre for the Control of Infectious Diseases

(KEEL) to protect ourselves and those around us from the

spread of germs.

The telephone number of the Hellenic Centre for the

Control of Infectious Diseases (KEELPNO) is 210 521

2054 and 522 2339.

The symptoms of the new flu are similar to those of the

regular seasonal flu and may include sudden increase in

body temperature, symptoms related to the respiratory

system (e.g. coughing, runny nose, sore throat, aching

muscles, headache, breathing difficulties). Other

symptoms could also include shivering, a general feeling

of exhaustion, diarrhoea and vomiting.

The viruses that cause influenza or the common cold can

survive for up to 72 hours on surfaces. They are

transmitted by the tiny droplets that are spread from the

mouth of an individual who is suffering from the virus, by:

speaking (the virus can be spread a distance of 1.5

– 3 meters),

coughing and sneezing (approximately 100,000

viruses can be propelled a distance of 9 meters

from the mouth and nose every time someone

sneezes at average force), and

infected hands (from mugs, door handles,

telephones, tables, computer keyboards and mice,

etc.) that come into contact with the eyes, nose,

and mouth.

The Bank in cooperation with the relevant authorities and

the NBG Staff Health Fund will take every measure to

protect its personnel and keep them informed of

developments.

Cover your mouth with a tissue when coughing or

sneezing.

Immediately dispose of the tissue used in a waste

container.

If you do not have a tissue handy then you should

sneeze into your sleeve rather than on your

hands.

Wash your hands after coughing or sneezing with

ordinary soap and water or clean using an

antiseptic wipe.

Wash your hands thoroughly and regularly.

Refrain from touching your eyes, nose or mouth,

especially with unwashed hands.

Avoid close contact when greeting people.

If you exhibit any flu symptoms you should stay at

home and request immediate medical assistance.

Symptoms of the new flu

How the flu virus is transmitted from person

to person

Protecting ourselves against the new flu virus

In mid June, NBG's management decided on a

rights issue to raise NBG's share capital by €1.25

billion. The share capital increase took place at a

good moment, in anticipation of developments in the

sector. The increase in share capital enables us to

to achieve the strategic flexibility necessary for the

further expansion of our Group's business activities,

whether organically or through targeted acquisitions

in the wider region of SE Europe.

By choosing to act at this particular point in time,

NBG has gained a significant competitive

advantage given that it approached the capital

markets in a timely manner before other European

credit institutions begin a round of similar increases.

The share capital increase at this specific point in

time has also provided us with a competitive

strength since it is expected that not only the

regulatory authorities but also investors will want to

see that banks maintain higher levels of capital

adequacy than was previously the case, as stricter

regulations and stricter banking supervision comes

into effect on a European level. It is therefore

crucially important for NBG to be amongst the first

banks to meet the demands of investors for stronger

capital structure of banks across Europe, although it

should be pointed out that NBG is already

acknowledged as being one of the best capitalized

banks in Europe.

The additional funds raised will finance credit

expansion and reinforce core income, which

comprise the base of the Bank's profitability.

Accordingly, on the one hand, the Bank will be able

to sustain growth of its key financials and thereby

support the Group's current growth curve and, on

the other, it will be possible to guarantee an

uninterrupted flow of financing, which will have a

positive impact on borrowers, customers, our

employees, our shareholders and the Greek

economy in general.

In addition, the Group will acquire extra strategic

flexibility to carry out targeted acquisitions, of a

scale deemed prudent, if and when enticing

opportunities arise, especially in the region of SE

Europe. NBG has maintained a very disciplined and

prudent attitude as far as acquisitions are

concerned, and of course there is no question of it

changing this approach.

NBG s Share Capital Increase'

Main article

Finally, the level of funds raised is sufficient to

ensure that for a long time the Bank does not need

to resort to the capital markets in order to obtain

extra cash. Clearly, in taking the decision to

increase our share capital we were not motivated by

any deterioration in the Group's economic

fundamentals. As the publication of financial results

for the first quarter of 2009 recently confirmed,

despite the challenges posed by the current

economic climate NBG was able to continue its

record of robust financial performance.

In any event, the timely and decisive reinforcement

of the Bank's funds was a prudent choice in the

event that the adverse global financial climate

continues much longer.

The successful performance of the Group is the

product of rational growth and prudent strategic

decisions. The current economic situation

demonstrates the benefits of effective liquidity

management and a conservative risk appetite. The

strengthening of our capital base will in the long

term also strengthen the leading presence of the

Group in SE Europe and allow it to achieve its

strategic vision as the economic environment

improves.

The €1.25 billion rights issue was carried out

through payment in cash and preemptive rights in

favour of old shareholders at a rate of 2 new shares

for every 9 old shares, at an offer price of €11.30

per share.

Besides the existing shareholders who participated

in the share capital increase and who were entitled

to participate in the over-subscription process for

unsubscribed shares, the Bank's personnel and its

retired employees were also able to take part in the

rights issue.

Developments

The Employment Programme for Unemployed

Young People has been designed for the purpose of

helping young people acquire knowledge, training,

experience and expertise related to their academic

studies, so that they may be better equipped to

enter the job market.

The Bank received more than 3,000 applications

from all over the country for the 300 positions that

had been announced. The 308 young people (we

ended up with more since there were several

individuals who ranked equally) selected by the

relevant Committee came primarily from the

following universities: the University of Macedonia,

the Business University of Athens, the University of

Piraeus and the Aristotle University of Thessaloniki.

They achieved an average grade of 7.8 and, what is

more, 50% of them also hold a postgrad degree.

The placement of the 308 young people into the

NBG workplace got off to a strong start with an

held on

in the Karatzas Building at the Bank's Athens

headquarters. The seminar was attended by the

programme's participants from all over Greece.

The goal of the Gaining Experience in NBG seminar

was to make participants aware of the various

activities of the Group and the basic products and

services that it offers. It also sought to impart basic

banking knowledge and familiarize participants with

the principles of Quality Customer Service so as to

facilitate their entry into the workplace environment

of the Bank.

The participants have the opportunity during their

six month employment period at a Bank branch to

familiarize themselves with a wide range of banking

services. During their time there special emphasis

will be placed on their interaction with the Bank's

customers rather than on just teaching them various

procedures.

induction seminar 15 and 16 June 2009The profile of participants

The “Gaining Experience in NBG” Seminar

Developments

308... in action!

The employment of 308 young people selected within the framework of NBG'sEmployment Programme for Unemployed Young People commenced on 15 June2009.

A few words about the Programme

NBG announced its Employment Programme for Unemployed Young

People on 17 March 2009.

The Programme aims at contributing towards mitigating the effects of

unemployment on young people in Greece.

The programme will consist of cycles, each lasting 6 months, and provides

for the full paid employment of 300 young unemployed individuals in Bank

services in each 6-month cycle. Candidates must be under30 years old,

be graduates of Business and Management schools of Greek universities,

and be able to evidence their unemployed status.

The Bank intends to run the program initially for a period of one year, and then for as long as the current

economic crisis continues.

Awards

Contact Center World is an international

organization that has monitored the Contact

Centers market since 1999. It provides

benchmarking valuation services for the market,

educational seminars and consulting services. The

organization has more than 120,000 members, 40%

of whom are members of senior management.

Once again, NBG participated this year in the

Contact Center World Conference for the region of

Europe and the East Mediterranean, competing for

the

During the competition, material was sent in order to

substantiate the role of the Center in supporting

Banking business, including not only customer

support but also product marketing services.Participants in the competition aim to get the

highest possible score as regards the operating

parameters of the Contact Center, its prospects,

and its philosophy regarding the future expansion of

its services. The companies participating represent

highly competitive market sectors such as those of:

Banking, Telecommunications, Energy, Outsourcing

and Services.

It is worth noting that the categories in which NBG

distinguished itself included the full range o

processes that comprise quality service through

alternative banking channels, such as

Top Performer Awards among around 1,200

companies altogether

Through a strictly defined competitive

procedure which included a presentation,

voting, interviews with a committee, and

personal interviews, NBG

, and in doing so won the

single largest number of distinctions of all of the

competing organizations.

.

f

succeeded in gaining

9 distinctions in total

Best Sales

Agent, Best Customer Service Agent, Best

Customer Service Supervisor, Best Support

Professional IT, Best Innovative Technology

Solution Internal, and Best Support Professional

Workforce Planning.

These distinctions serve to justify NBG s strategic

decision to develop its alternative Networks as a

pioneering dynamic and productive method of

delivering services and which will in the near future

be expanded to customers of the Group s subsidiary

companies as well.

'

,

'

Diverse awards for NBG

The Contact Center team Κ. Glentzakis Ν. Bales Ν. MavrelisTh. Patsilinakos Ζ. Lyratzi Α. Bontaiti

Τ. Boti Μ. KiriakopoulouP. Papaspiropoulos

. Left to right: , support technician, , customerservice sub-division, , telesales sub-division, , support technician, , telesales representative, , customer service representative,

, customer service sub division, , customer service representative and, head of the Contact Centre team,with his son Christos.

.

The head of the Contact Center team, Pericles Papaspiropoulos.

Developments

Electronic Mail System: a major step forward

The replacement in 2003 of the printed Telephone

Directory with an electronic directory and the

implementation in that same year of the Electronic

Mail System and system for searching Circulars and

other documents brought about significant changes

in the operation of the Bank, enhancing the speed

at which employees receive and send information.

Moreover, the Bank as a part of the modernization

of its information systems, operations and

Environmental Policy placed into operation the

Electronic Mail System, which is now used by all

the Units of the Network and by the majority of

Central Services.

between Bank

Units.

The quality of in-house communication is

significantly upgraded through the introduction

of uniform document models throughout the

Bank, and in each of its Units.

for the

electronic signing and sending of documents

per document type,

of incoming mail

of the mail,

of documents

to groups of users,

of other documents

attached to emails, such as contracts,

of all types of documents,

electronically indexed in the system, with the

use of a single (e.g. filing number) search item

or combination of items,

keeping officers/ heads of departments

(so long as they are in the Electronic

Telephone Directory) on the status of

incoming and outgoing

correspondence concerning their units,

using

statistics that can be retrieved from the system.

substantially the need to find and maintain

hard copies of

correspondence,

The Electronic Mail System significantly

reduces paper consumption, the use of printing

equipment and other consumables, while at the

same time it reduces the need for transportation

that would otherwise be required to move about

hard copies of correspondence. To be

environmentally friendly we should seek to limit

the amount of printing we carry out of

documents transmitted or filed through the

System, since the electronic documents can be

accessed through the System at any time.

Virtually no time at all is required for the

transmission of documents

It enables:

the implementation of uniform rules

direct forwarding in

tandem with electronic signing

selective sending or copying

electronic archiving

complex search

updated

pending

processing of

Improving the operation of Units and

identifying any possible weak spots

The System reduces:

physical space for filing

the Bank's overall operating costs.

It helps save natural resources:

The advantages of the system are many:

1.

2.

3.

4.

5.

by

Head of Business Processes

Yannis Balabanis

To be environmentally friendly we should seek to

limit the amount of printing we carry out of

documents transmitted or filed through the

System, since the electronic documents can be

accessed through the System at any time.

a) The for the transmission of

documents from the sender to the receiver,

with the addition of the final electronic

signature on the document.

b)

(for example a one-page memo)

, (for drafts, copies, etc.)

Further advantages

time required

which

used to be 1 to 4 days at least is now a matter

of seconds

The paper required for just one document

used to be 7

sheets while now it has

been reduced to 2 sheets at most

:

, .

6.

By looking forward and planning

ahead, the Bank invests in its

human resources and implements

important and pioneering projects

that contribute to the modernization

of its Units and its affiliated

companies.

Conservation of Resources

Paper Folders Consumables

AFTER EMAILBEFORE EMAIL

AFTER EMAILBEFORE EMAIL

Reduction in Operating Expenses for the 5-year period

Data from the relevant feasibility study

(adjusted on the basis of observations made following implementation of the System)

Developments

The opening of the new branches in Kato Achaia

(29/04/09), Farkaina in Chios (10/06/09) and

Iraklio, Crete (24/06/09) was a great success. At

the opening ceremony, the Head of Branch

Network III, Mr. , and the Head of

Branch Network V, Mr. ,

highlighted the benefits of the new design

concept for the NBG branches, which aims to

enhance the quality of service to customers and

foster a closer working relationship with them.

The speakers also referred to the initiatives

taken by NBG to provide manifold support to

SMEs, private customers and farmers at this

critical juncture in time, which is marked by

unprecedented challenges facing these regions.

In closing, the General Manager for Retail Banking,

Mr. M. Moissis, spoke of the core strategy of the

Bank, which through its competitive advantages,

the experience of its people, the modern tools it has

at its disposal, and its friendly, people-focused

image, has been systematically financing and

supporting households and businesses alike with

positive consequences for our country's economic

growth".

The opening events were organized by the Group

Strategic Marketing and Communication Division

The opening of the Branch was well publicised,

as it marks the implementation of the new

branch concept for the first time in a Branch

Network V branch.

The Branch has found a new home since the

building where it was previously located was

destroyed in the June 2008 earthquake.

Following the earthquake the Branch was

temporarily located in the offices of Ethniki

Insurance nearby. The Branch Manager, Mr.

, mentioned the difficult conditions under

which the Branch had to operate following the

devastating earthquake and also the customers

full support, a fact that illustrates the strong ties

that link NBG to its customers.

The Mayor of Dymi, Mr. , thanked

NBG for its support for efforts to clean up the

shoreline of the Municipality and to rebuild the

area.

This is the first instance of implementation of

the new concept in an island of the Aegean

Sea.

The Prefect, , thanked NBG

for its support for efforts to clean up the

shoreline of the Municipality saying: NBG has

consistently, promptly and responsibly made a

decisive contribution to fostering environmental

awareness and supporting actions on the local

level".

G. Thanos

G. Zografakis

G.

Ntinos

D. Gotsoulas

Mr. Lamprinoudis

]

“

.

'

“

Kato Achaia

Farkaina, Chios

Opening of new BranchesIn Kato Achaia, Farkaina in Chios, and Iraklio, Crete.

Mr. I. Pehlivanidis, presenting an honorary plaque tothe Gold Olympic Medallist Georgios Kapellakis

Mr. I. Pehlivanidis, Deputy Chairman and Deputy CEO

At the opening of the Branch in Iraklio, Crete

The Manager of the Farkaina Branch, Mr.

, thanked the customers of the Branch

for the confidence they have always shown in

NBG, even in difficult times, while he also

made special reference to the Manager of the

Chios Branch, Mr. , who contributed

so much to the event's success.

In his speech, Mr. made special reference

to the sponsorship provided by NBG in the

construction of a playground in the Municipality of

Nea Alikarnassos where the Branch is located.

In his speech, Mr. , Manager of the

Iraklio (Crete) Branch said: "The new location of the

Branch enables it to offer even better quality

services to our customers, and is an investment that

aims at forging closer working relations with them,

ensuring benefits for customers, the Bank and the

community at large”.

Mr. reference to TEMPME, the

Guarantee Fund for Small Enterprises, where NBG

ranks first among Greek Banks in financing. Indeed,

total financing to over 600 enterprises in Crete in

2009 amounted to over €43 million. These results,

combined with other NBG loans to both businesses

and individuals, confirm the fact that the support

provided by the Bank to strengthen the liquidity of

businesses and, by extension, the country's

economy is very substantial.

In closing, the

businesses and

individuals, and he presented an honorary plaque

D.

Varsos

M. Glykas

Thanos

S. Petrakis

Moissis made

to Mr. Georgios Kapellakis, Gold Medallist at the

Beijing Paralympics.

Deputy Chairman and Deputy CEO,

Mr. I. Pehlivanidis, referred to initiatives taken by

NBG to provide manifold support to

Iraklio, Crete

Representatives of local government, the Church, the business community, customers and many of the local people

attended the opening ceremonies at the Branches.

Mr. I. Pehlivanidis, Deputy Chairman and Deputy CEO, with

Mr. E. Evangelakis, Regional Manager for Crete

At the opening of the Farkaina Branch, Chios Mr. M. Moissis, General Manager of Retail Banking, at the opening

of the Farkaina Branch

From left: Mr. G. Zografakis, Head of Branch Network V, and,

Mr. G. Dinos, Manager of the Kato Achaia Branch.

Mr. , Manager of the Iraklio BranchS. Petrakis

NBG views Corporate Social

Responsibility as crucial for sustainable

development and approaches it in an

increasingly systematic manner,

integrating CSR in its strategic choices.

The ongoing social contribution made by

NBG in 2008, for yet another year,

reflects a policy that has been part of its

corporate ethos and is effected through

its RESPONSIBILITY CSR programme,

the main components of which are the

Community, Culture and the

Environment.

NBG s Sponsorship Programme is a key

component of the Bank s Corporate

Social Action programme. In 2008 the

Programme involved funds totalling €17.6

million, 25% of which was allocated to

Community focused actions, 3% to

environmental actions, 38% to culture,

29% to fire disaster relief actions, and 5%

to various other causes.

In the first half of 2009, NBG s

Sponsorship Programme totalled €13.86

million, 20% of which was allocated to

Community oriented actions, 16% to

research, education and the

environment, 12% to sports, 43% to

culture oriented actions, and 9% to

various other actions.

In the context of its commitment to

people and in particular to vulnerable

social groups, NBG participates in efforts

to improve health services, education,

sports, and public welfare, with a view to

enhancing the quality of life for all. NBG s

sponsorship activity includes the

following:

The creation of 30 new operating

theatres at Evangelismos

Hospital, Athens.

Upgrading of the Intensive Care

Unit at Evangelismos Hospital,

Athens.

Sponsorship for a project aimed at

improving the daily life of elderly

people and preventing accidents

in the home.

Maintenance, expansion and

purchase of equipment for the

children s summer camps of the

Municipality of Athens at Agios

Andreas and of the Diocese of

Alexandroupoli.

Sponsorship for the expansion of

the premises of the

Papadopouleios Nursery School

of the Diocese of Messinia.

Sponsorship for the creation of a

kindergarten in the Municipality of

Mikra, Thessaloniki.

Sponsorship for the creation of a

Model Home for the Treatment

and Rehabilitation of Neglected

and Abused Children.

Sponsorship for the running of a

Prevention and Support Centre

for children and families facing

psychosocial problems.

“ ”

'

'

'

'

'

CSR

NBG's sponsorship programme

NBG's sponsorship programme

is a key component

of the Bank's Corporate

Social Action programme.

by , Manager of BoD

Secretariat & Shareholder Services Division

Alexandros Stavrou

NBG sponsors the THORAX Foundation, which aims to construct,

equip and run research and clinical laboratories and Intensive Care Units.

Sponsorship for the purchase of a specially

fitted school bus for the transport of children,

most of whom use wheel chairs, to the Special

High School – Lyceum of Athens.

Three-year sponsorship for a programme

aiming at helping children with autism to

integrate into society.

Sponsorship for the Social Solidarity Network

of the Prefecture of Xanthi to purchase a

vehicle to help people in need of first aid

transport.

NBG has also

and the ideal that promotes culture and brings

people together, through a series of actions,

such as:

Projects supporting individual athletes

(Alexandros Nikolaidis, Pigi Devetzi, Ilias Iliadis

and Angeliki Exarchou) in their preparation for

the 2012 Olympics.

Organization and support of the activity of

Sports Federations for the participation of our

national teams in the World Championships,

the European Championships and the

Mediterranean Games (Hellenic Volleyball

Federation, Hellenic Gymnastics Federation,

Hellenic Equestrian Federation).

Support for international sporting events

(International Tennis Tournament, International

Sailing Races, the 25 Vardinoyiannia Games,

2009 Tsiklitiria Grand Prix).

In the areas of , the

contribution of NBG also took many forms,

including the following:

A long-running scholarship programme in

honour of the memory of the Governor of NBG

Michalis Vranopoulos.

The financing of scholarship programmes at a

number of Greek and foreign universities.

Sponsorship for the London School of

Economics to set up a Se Europe Research

Programme.

Sponsorship to international scientific meetings

and summer training seminars.

A three-year programme to digitise the material

contained in the archives of the Musical Library

of the Athens Concert Hall Organization

(OMMA), which contains works by Greek

composers and musicians.

NBG supports actions aimed at

through sponsorships to third

parties acting for the public benefit.

For instance:

Sponsorship for events promoting wind

power, which is clean and renewable, on the

occasion of the Global Wind Day.

The production of a series of oceanographic

documentaries examining the marine

environment in the area of the Eastern

Mediterranean and the Black Sea.

Support for the organization of the 9

Oceanography and Fishing Conference.

Donation to the Agricultural University for the

purchase of equipment to carry out more

reliable pollution measurements, and the

protection of underground and surface

waters.

consistently supported sports

science and education

sustainable

development and the protection of the

environment,

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NBG is engaged in a long-term sponsorship programme for the Archaeological Society to carry out restoration work on two large murals

from the Akrotiri excavations on Santorini.

Offering a system of environment friendly

underground garbage containers to the

Municipality of Corfu.

Support for a programme for the collection

and care of stray animals.Educational

programmes on environmental awareness and

protection.Sponsorship for ecological,

environmental and animal welfare

organizations.

At the same time, NBG's support for activities that

promote the National Heritage and Culture has

long been an integral part of NBG's social

responsibility policy, which allows for the

implementation of significant actions in all the

sectors of cultural production and each year

comprises a significant part of the sponsorship

budget to support the arts, history, customs and

our country's intellectual production in general.

Sponsored actions include the following:

The exhibition “Meeting in the Ancient Agora”

of the Foundation of the Hellenic World and a

programme of video screenings which use

interactive virtual reality technologies.

The purchase, restoration and conversion of

the house of the poet Angelos Sikelianos into

a museum on the island of Lefkas.

The upgrading and restoration of the Dionysios

Solomos Museum in Corfu.

The performances of the Birmingham

Symphonic Orchestra, the Finnish Radio

Symphony Orchestra and the BBC Orchestra

at the Athens Concert Hall.

The staging of Verdi's Aida by the Greek

National Opera.

A project concerning the continuation of

excavation work, the performance of

conservation work and the study of findings at

the archaeological site of Zominthos in Crete.

The project is scheduled to last a number of

years.

A project concerning conservation work on two

more murals depicting spiral patterns and a

third depicting a hunting scene, at the Minoan

site of Akrotiri, Santorini

An educational programme for the operation of

Music Workshops on various islands of the

Aegean.

The organization of an Iberian-African Literary

Festival.

The organization of the International Short Film

Festival.

The organization of the Cyclades International

Classical Music Festival at Ermoupoli, Syros.

The creation of a Municipal Library in Almiros.

The organization of an exhibition on General

Makriyannis and the Iconography of the

Struggle for Independence hosted by the

annex of the National Gallery in Nafplion.

The organization of the 2 Athens Biennale.

The production and broadcasting of the series

“Great Greeks” by SKAI TV.

The preservation and enhancement of heritage

monuments (e.g. restoration of the church of

Agios Georgios at Ampelakia, Larissa; large

scale maintenance work on the roof and apse

of the church of the Dormition of the Virgin

Chrysospilaiotissa, a study for restoration

works on the Castle of Karytaina).

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Sponsorship support for the restoration

of an 18 century olive press and its conversion

into a Museum and place for the study

and research of the industrial history

of the Aegean at Papados, Lesvos.

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CSR

Brief history of NBG inAlbania

Competitive advantages of the Bank in the

local market and strategic targets

NBG in Albania – strategic objectives

Ability to respond swiftly to the needs of the

market

Services

NBG's presence in Albania dates back to 1996.

NBG's Tirana branch opened as a branch of a

foreign bank, controlled 100% by NBG. Initial

capital was €2

Originally operating in Tirana, the network

subsequently expanded through branches and

agencies to other key cities of the country,

including Korca, Durresi, Vlora and Gjirokastra. In

the period 2007-2008 NBG Albania opened 17

new branches, thereby bringing the total to 30

branches covering broadly the entire country.

The ongoing enhancement of the services it

already offers its customers, together with various

new services and products, is an important part of

the Bank's strategy. It aspires to provide its

customers with a wide range of innovative

products and unique services to suit all their

needs.

Today NBG has gained a substantial foothold inthe Albanian market, providing financial support tocorporations, households and individuals.

In the light of the impact that the current financial

crisis has had on the Albanian market as well as

public sentiment due to the tragic financial and

social crisis that the country experienced in 1997,

NBG can boast a number of significant competitive

advantages, including:

–As part of the NBG group, NBG in

Albania is a source of confidence and

security for depositors.

–It is a modern

bank, providing intelligent products, smart

solutions to customers' needs, and sound

advice.

– The values of honesty,

transparency and integrity underlie all the

relations of the bank with its clients and

partners.

– The expertise of

NBG is combined with the professionalism of

the local staff to create an integrated team

that works efficiently for its customers.

To effectively meet customer needs and

enhance shareholder value.

To continuously grow the product/service

portfolio and improve administrative

flexibility.

To strengthen and consolidate a leading

position in the market, as significant player in

the Albanian economy.

To further develop a professional team that

can respond effectively to competitive

challenges.

Uniform and standardized procedures for

developing products, irrespective of business

segment (e.g., deposits/financing), together with

the numerous parameters that play a part in the

system, enable the Management to respond

swiftly to the needs of the market and the

demands of our customers.

NBG offers a very wide range of products and

financial services in branches that operate under

the Shop in Shop concept. All the products are

developed in line with the customers needs,

thereby enabling them to select the most

appropriate solution. NBG in Albania classes its

products in two main categories:

million. NBG Tirana was set up as a

general commercial bank under the legal form of a

societé anonyme.

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Security

Tradition and experience

Transparency

Professional local staff

NBG in Albania

Our Group

A. Retail banking:

B. Corporate banking:

Values, culture, human capital

Highlights

Corporate Social Responsibility / Awards

The Bank offers very attractive deposit products,

fund transfer services etc, such as:

Consumer loans

Home equity

Mortgages

Current accounts

Time deposits

Fund transfer

VISA Electron Debit Card

24/7 ATM services

Credit lines for SMEs

Since NBG is a major business partner in the

Albanian market, it assists corporations in

developing their business. Today, the Bank

collaborates successfully with local and

international companies, delivering financial

solutions and tailor-made products through its

corporate department.

The values and culture of NBG in Albania aim at

keeping the policy and profile of the Group to the

highest standards. It continuously invests in its

human capital through training programmes,

seminars and workshops in order to cover staff

needs via all potential resources (internal and

external).

The Bank is an equal opportunity employer and

accordingly encourages its entire staff to take part

in training events, so that everyone can develop

their careers effectively within the Bank,

regardless of gender, age and other issues. It

prioritizes training opportunities so as to enhance

the effectiveness of its programmes, and actively

encourages staff to take part in its annual training

schedule.

As a result of the Bank's growth, NBG has

increased its personnel in Albania to 340 persons.

All of them (100%) are university graduates while

10% of them hold postgraduate degrees.

Backed by the NBG Group vision for the

Southeast European countries and working on a

well designed strategy and business plan, NBG

has managed to maintain a good position in the

Albanian market. It has considerably increased its

market share with ongoing development of its

products and improved services.

The Bank holds a leading position in Retail

Lending (mortgage market) and is the preferred

banking partner for a considerable number of

corporate and individual clients.

NBG's network of 30 branches covers Albania

geographically. All branches operate with ATMs

and are linked up on-line. Through a well

organized promotion campaign, NBG in Albania

holds today a considerable number of deposits.

In the sphere of Corporate Social Responsibility,

NBG in Albania made a contribution to the

following:

Sponsorship for the project "Guinness World

Record for creating a Mosaic with wine

spigots" (8 Aug- 4 Sep).

Sponsorship to the Greek Embassy for

organising the Trojans Theatre in Butrinti,

Saranda (July 2008)

Sponsorship to the Greek Embassy and the

Greek-Albanian Chamber of Commerce for

organizing a Concert featuring Renato Ripo

and Aris Garoufalis

Sponsorship for an outstanding student from

the Faculty of Economics to take part in the

Travelling in Europe project.“ ”

Sponsorships in 2008 for Art & Education:

Corporate social responsibility:

Sponsorship to the International Social Service

for the project "Psychosocial Services to

reduce post-trauma effects among the children

of Gerdec".

Sponsorship to Gjirokastra Municipality for the

organization of "The National Days of the

Albanian Cultural Heritage". Gjirokastra has

been designated a UNESCO "World Heritage

Site".

Our Group

Contribution to the NBG Group vision

Priorities in 2009

The Bank has contributed substantially to

changing attitudes toward mortgage loans in

Albania. Our Bank was the first to provide un-

collateralized consumer loans thereby

changing attitudes to consumer loans. NBG

is a very strong competitor in the mortgage

loan market with competitive prices and

playing an important role in the Albanian

banking market.

It operates in accordance with European

standards while complying strictly with the

policy and profile of the Group.

Besides contributing to the Group s targets,

the Bank is involved in a number of important

projects such as: SAP implementation

through Ethnoplan, which promotes NBG s

vision to become a leader in SE Europe by

deploying common procedures and offering

similar products as well as implementing the

same processes and IT methods. In addition,

very soon it will be ready to implement a new

service model.

Defend asset quality.

Manage liquidity.

Enhance total clients relationship.

Optimize cost efficiency in order to raise NBG

Albania to a leading position in the market.

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NBG sponsors the Shkodra Girls Basketball Team'

N A T I O N A L B A N K

O F G R E E C E