National Bank of Greece S.A.

Interim / Quarterly Report • Oct 5, 2015

National Bank of Greece S.A.

SUMMARY FINANCIAL DATA AND INFORMATION AS AT AND FOR THE PERIOD ENDED 30 JUNE 2006 ( Published in accordance with P.D. 360/1985 and the Decision 17/336/21.04.2005 of the Capital Market Committee ) ( amounts in thousand EUR )

Headquarters:	86, Aiolou Str., 102 32 Athens	Executive Members
Register Numbers of S.A.	6062/06/Β/86/01
Supervising Prefecture:	Athens Prefecture	Efstratios - Georgios (Takis) A. Arapoglou	Chairman - Chief Executive Officer
Date of approval of Financial Statements by BoD:	30 August 2006	Ioannis G. Pechlivanidis	Vice Chairman - Deputy Chief Executive Officer
Certified Public Accountant - Auditor:	Nicolaos C. Sofianos (RN SOEL 12231)
Audit Firm:	Deloitte, Hadjipavlou Sofianos & Cambanis S.A. Assurance & Advisory Services	Non executive Members
Auditors΄s review report:	Unqualified opinion
Issue Date of auditors΄s review report:	31 August 2006	George M. Athanasopoulos	Employees' representative
Website:	www.nbg.gr	John P. Panagopoulos	Employees' representative

Ioannis C. Yiannidis	Professor, University of Athens Law School
Independent Non Executive Members

		Group		Bank
Assets	30/06/2006	31/12/2005	30/06/2006	31/12/2005	H.E. the Metropolitan of Ioannina Theoklitos
Cash and balances with central banks	3,422,931	2,431,287	2,730,152	1,848,223	Stefanos C. Vavalidis	Member of the Board of Directors, European Bank for Reconstruction & Development
Treasury bills and other eligible bills	338,458	177,023	221,378	86,078	Dimitrios A. Daskalopoulos	Chairman and Managing Director, Delta S.A., Vice Chairman, Federation of Greek Industrialists
Due from banks (net)	4,252,532	4,085,204	4,254,013	4,142,623	Nikolaos D. Efthymiou	Chairman, Association of Greek Shipowners
Financial assets at fair value through P&L	12,748,217	13,667,471	12,496,751	13,409,663	George Z. Lanaras	Shipowner
Derivative financial instruments	327,269	309,030	279,976	283,500	Stefanos G. Pantzopoulos	Business Consultant, former Certified Auditor
Loans and advances to customers (net)	31,668,252	29,528,178	29,086,932	27,178,715	Constantinos D. Pilarimos	Economist, General Manager of Finances and Technical Services, Church of Greece
Investment securities-available for sale	3,323,664	2,812,794	2,532,628	2,153,682	Drakoulis K. Fountoukakos - Kyriakakos	Entrepreneur
Investment securities-held to maturity	15,957	20,867	38,344	43,781	Ioannis Vartholomeos	Professor, University of Piraeus, Governor of IKA (Social Security Fund)
Investment property	125,048	126,506	200	416	Ploutarchos K. Sakellaris	Professor, University of Athens, and Chairman, Council of Economic Advisors.
Investment in subsidiaries	-	-	1,451,798	1,398,070
Investments in associates	237,501	249,152	237,836	278,025
Goodwill & other intangible assets	62,044	65,911	31,320	33,878
Property & equipment	1,861,189	1,885,713	1,127,456	1,142,738
Deferred tax assets	209,425	217,417	133,471	148,759	Consolidated Companies
Insurance related assets and receivables	701,670	637,916	-	-
Other assets	1,938,026	1,479,888	1,410,570	1,111,303				Unaudited Tax
Assets classified as held for sale	-	2,732,203	-	19,476	Subsidiaries (fully consolidated)	Headquarters	% participation	Years
Total assets	61,232,183	60,426,560	56,032,825	53,278,930
					National Securities S.A.	Greece	100.00%	2003-2005
Liabilites					Ethniki Kefalaiou S.A.	Greece	100.00%	-
Due to banks	5,596,141	5,060,850	5,714,578	4,986,420	Diethniki Mutual Fund Management	Greece	100.00%	2005
Derivative financial instruments	436,978	302,698	436,506	303,422	National Management & Organization Co S.A. - ETHNOKARTA	Greece	100.00%	2004-2005
Due to customers	45,663,799	43,350,120	43,403,438	41,060,200	Ethniki Leasing S.A.	Greece	100.00%	2001-2005
Debt securities in issue	178,352	175,297	-	-	National Mutual Fund Management	Greece	100.00%	2003-2005
Other borrowed funds	933,164	956,988	1,957,714	2,024,051	NBG Venture Capital S.A	Greece	100.00%	2003-2005
Insurance related reserves and liabilities	1,833,592	1,734,249	-	-	NBG Balkan Fund Ltd	Cyprus	100.00%	1999-2005
Current tax liabilities	125,292	177,302	91,628	139,375	NBG Greek Fund Ltd	Cyprus	100.00%	1999-2005
Deferred tax liabilities	96,817	102,359	87,178	85,575	ETEBA Emerging Markets Fund Ltd	Cyprus	100.00%	1999-2005
Retirement benefit obligations	220,823	207,725	61,117	62,856	ETEBA Estate Fund Ltd	Cyprus	100.00%	1999-2005
Other liabilities	1,778,410	1,783,399	1,326,523	1,644,542	ETEBA Venture Capital Management Co Ltd	Cyprus	100.00%	1999-2005
Liabilities classified as held for sale	-	2,259,165	-	-	NBG Bancassurance S.A.	Greece	100.00%	2003-2005
Total liabilities	56,863,368	56,110,152	53,078,682	50,306,441	The South African Bank of Athens Ltd	South Africa	99.50%	2005
					National Bank of Greece (Cyprus) Ltd	Cyprus	100.00%	1994-2005
Shareholders´ Equity					National Securities Co (Cyprus) Ltd	Cyprus	100.00%	-
Share capital	1,696,347	1,696,347	1,696,347	1,696,347	NBG Management Services Ltd	Cyprus	100.00%	2000-2005
Less: treasury shares	(22,610)	(22,680)	(1,015)	(1,085)	Stopanska Banka A.D., Skopje	FYROM	71.20%	2005
Reserves and retained earnings	1,528,961	1,450,163	1,258,811	1,277,227	United Bulgarian Bank A.D., Sofia (UBB)	Bulgaria	99.91%	2005
Equity attributable to NBG shareholders	3,202,698	3,123,830	2,954,143	2,972,489	NBG International Ltd	United Kingdom	100.00%	2005
					NBG International Inc (NY)	U.S.A.	100.00%	2000-2005
Minority interest	94,530	109,997	-	-	NBGI Private Equity Ltd	United Kingdom	100.00%	2005
Undated tier I perpetual securities	1,071,587	1,082,581	-	-	NBG Finance Plc	United Kingdom	100.00%	2005
Total shareholders΄ equity	4,368,815	4,316,408	2,954,143	2,972,489	Interlease A.D., Sofia	Bulgaria	100.00%	2005
					ETEBA Bulgaria A.D.	Bulgaria	100.00%	-
Total equity and liabilities	61,232,183	60,426,560	56,032,825	53,278,930	ETEBA Romania S.A.	Romania	100.00%	2000-2005

						Subsidiaries (fully consolidated)	Headquarters	% participation	Unaudited Tax
									Years
						National Securities S.A.	Greece	100.00%	2003-2005
						National Bank of Greece (Cyprus) Ltd	Cyprus	100.00%	1994-2005
						NBG International Inc (NY)	U.S.A.	100.00%	2000-2005
						ETEBA Bulgaria A.D.	Bulgaria	100.00%	-
						NBG Luxembourg Holding S.A.	Luxembourg	100.00%	-
	0	0		0	0	NBG Luxfinance Holding S.A.	Luxembourg	100.00%	-
						Innovative Ventures S.A (I-Ven)	Greece	100.00%	2004-2005
						NBG Funding Ltd	United Kingdom	100.00%	-
Group				Bank		Banca Romaneasca S.A.	Romania	98.88%	2002-2005
1/1-30/06/2006 1/1-30/06/2005 1/4-30/6/2006 1/4-30/6/2005 1/1-30/06/2006 1/1-30/06/2005 1/4-30/6/2006 1/4-30/6/2005						Ethniki Hellenic General Insurance	Greece	76.66%	2005

	Group				Bank				Banca Romaneasca S.A. Romania		98.88%	2002-2005
						1/1-30/06/2006 1/1-30/06/2005 1/4-30/6/2006 1/4-30/6/2005 1/1-30/06/2006 1/1-30/06/2005 1/4-30/6/2006 1/4-30/6/2005			Ethniki Hellenic General Insurance	Greece	76.66%	2005
Interest and similar income	1,372,643	1,147,683	705,486	579,570	1,213,878	1,018,847	625,758	515,127	Ethniki Insurance (Cyprus) Ltd	Cyprus	79.20%	1998-2005
Interest expense and similar charges	(485,744)	(389,933)	(246,315)	(200,914)	(479,572)	(382,991)	(246,513)	(198,188)	Ethniki General Insurance (Cyprus) Ltd	Cyprus	79.20%	1998-2005
Net interest income	886,899	757,750	459,171	378,656	734,306	635,856	379,245	316,939	S.C. Garanta Asigurari S.A.	Romania	71.50%	2003-2005
Fee and commission income	255,422	212,256	127,707	104,145	164,941	143,565	83,843	67,872	Audatex Hellas S.A.	Greece	53.66%	2003-2005
Fee and commission expense	(17,428)	(13,133)	(7,384)	(7,182)	(28,412)	(28,834)	(13,994)	(14,505)	National Insurance Brokerage S.A.	Greece	72.83%	2003-2005
Net fee and commisssion income	237,994	199,123	120,323	96,963	136,529	114,731	69,849	53,367	NBG Asigurari S.A.	Romania	76.66%	2001-2005
Earned premia net of reinsurance	323,795	275,508	164,002	146,914	-	-	-	-	ASTIR Palace Vouliagmenis S.A.	Greece	78.06%	-
Net claims incurred	(266,682)	(230,001)	(134,151)	(124,523)	-	-	-	-	Grand Hotel Summer Palace S.A.	Greece	100.00%	2005
Net premia from insurance contracts	57,113	45,507	29,851	22,391	-	-	-	-	NBG Training Center S.A.	Greece	100.00%	2005
Dividend income	8,315	8,259	6,904	6,102	44,318	21,543	33,828	10,840	Εthnodata S.A.	Greece	100.00%	2005
Net trading income	13,114	(32,743)	(16,648)	(50,296)	81,421	(81,489)	(7,055)	(79,033)	ΚΑDΜΟΣ S.A.	Greece	100.00%	2003-2005
Net result from investment securities	44,520	93,476	16,652	77,498	26,323	74,323	5,279	70,886	DIONYSOS S.A.	Greece	99.91%	2004-2005
Other operating income	93,594	52,388	42,605	28,950	31,199	7,001	19,808	5,249	EKTENEPOL Construction Company S.A.	Greece	100.00%	2001-2005
Total operating income	1,341,549	1,123,760	658,858	560,264	1,054,096	771,965	500,954	378,248	Mortgage, Touristic PROTYPOS S.A.	Greece	100.00%	2003-2005
Personnel expenses	(448,265)	(399,466)	(236,433)	(201,083)	(327,870)	(297,323)	(162,653)	(146,438)	Hellenic Touristic Constructions	Greece	77.76%	2003-2005
General & administrative expenses	(167,235)	(151,859)	(90,961)	(76,606)	(99,706)	(96,959)	(54,195)	(48,559)	Ethnoplan S.A.	Greece	100.00%	2005
Depreciation, amortisation and impairment charges	(55,543)	(57,213)	(27,459)	(28,613)	(34,382)	(36,253)	(16,919)	(17,788)	Ethniki Ktimatikis Ekmetalefsis S.A.	Greece	100.00%	1991-2005
Other operating expenses	(15,357)	(17,129)	(6,898)	(8,452)	(8,696)	(5,216)	(4,821)	(3,658)	NBGI Private Equity Funds	United Kingdom	100.00%	2004-2005
Total operating expenses	(686,400)	(625,667)	(361,751)	(314,754)	(470,654)	(435,751)	(238,588)	(216,443)	NBG International Holdings B.V.	Netherlands	100.00%	-
Impairment losses on loans and advances	(130,400)	(99,720)	(64,418)	(52,771)	(111,276)	(85,000)	(52,065)	(43,000)	EURIAL Leasing S.A.	Romania	70.00%	2003-2005
Share of profit of associates	8,328	11,434	2,824	10,639	-	-	-	-
Profit before tax	533,077	409,807	235,513	203,378	472,166	251,214	210,301	118,805
Tax expense	(95,478)	(76,991)	(44,637)	(27,855)	(91,385)	(52,292)	(39,094)	(16,921)
Profit for the period from continuing operations	437,599	332,816	190,876	175,523	380,781	198,922	171,207	101,884
Profit for the period from discontinued operations	118,074	15,129	111,070	8,224	-	-	-	-
Profit for the period	555,673	347,945	301,946	183,747	380,781	198,922	171,207	101,884	Associated (equity method of consolidation)	Headquarters		Unaudited
Attributable to:											% participation	Tax Years
Minority interests	9,470	17,147	5,940	10,001
NBG equity shareholders	546,203	330,798	296,006	173,746					Social Securities Funds Management	Greece	40.00%	2000-2005
	0	0	0	0					Phosphate Fertilizers Industry S.A.	Greece	24.23%	2001-2005
Earnings per share									Larko S.A.	Greece	36.43%	2002-2005
Basic & Diluted from continuing & discontinued operations	€ 1.36	€ 0.94	€ 0.72	€ 0.49					Siemens Industrial S.A.	Greece	30.00%	2004-2005
Basic & Diluted from continuing operations	€ 1.03	€ 0.90	€ 0.41	€ 0.47	€ 1.05	€ 0.56	€ 0.47	€ 0.29	Eviop Tempo S.A.	Greece	21.21%	2002-2005

									Unaudited
						Associated (equity method of consolidation)	Headquarters	% participation	Tax Years
							Greece
0	0	0	0			Phosphate Fertilizers Industry S.A.	Greece	24.23%	2001-2005
							Greece
							Greece
							Greece
						Teiresias S.A.	Greece	39.34%	2003-2005
						Ellenikes Exoches S.A.	Greece	20.23%	2003-2005
						AGET Heracles Cement Co. S.A.	Greece	26.00%	2003-2005
						Pella S.A.	Greece	20.89%	2001-2005
		Group			Bank	Planet S.A.	Greece	31.18%	2003-2005
		1/1-30/06/2006 1/1-30/06/2005			1/1-30/06/2006 1/1-30/06/2005	Agris S.A.	Greece	29.34%	2000-2005
							Greece
							Greece
							Greece

THE CHIEF FINANCIAL AND CHIEF OPERATIONS OFFICER

THE VICE CHAIRMAN AND DEPUTY CHIEF EXECUTIVE OFFICER

THE CHAIRMAN AND CHIEF EXECUTIVE OFFICER Athens, 30 August 2006

Company Information

Cash Flow Statement for the period

The Board of Directors

Consolidated Companies

THE CHIEF ACCOUNTANT

Balance Sheet

Income Statement for the period

The financial data and information listed below provide a summarized view of the financial position and results of National Bank of Greece and its Group. We therefore suggest to the user, before proceeding to any investment decision or other transaction with the Bank or its Group, to visit National Bank of Greece΄s web-site (www.nbg.gr), where the Interim Financial Statements as at 30 June 2006 prepared in accordance with IFRS have been published, together with the Auditors΄s review report when required.

		Group		Bank	Planet S.A.	Greece	31.18%	2003-2005
	1/1-30/06/2006 1/1-30/06/2005		1/1-30/06/2006 1/1-30/06/2005		Agris S.A.	Greece	29.34%	2000-2005
Net Cash flow from:					Kariera S.A.	Greece	35.00%	2003-2005
Operating activities	2,088,941	1,218,470	2,369,484	1,509,636	Zymi S.A.	Greece	32.00%	2003-2005
Investing activities	(210,728)	51,189	(368,957)	(181,682)	Europa Insurance Co. S.A.	Greece	30.00%	2005
Financing activities	(386,832)	251,319	(405,501)	267,887
Effect of foreign exchange rate changes on cash and cash equivalents	(24,026)	109,082	(20,097)	92,706
Net increase / (decrease) in cash and cash equivalents	1,467,355	1,630,060	1,574,929	1,688,547	Notes
Cash and cash equivalents at beginning of the period	3,127,260	4,930,174	2,646,494	4,270,439	1) The principal accounting policies adopted are in accordance with the provisions of International Financial Reporting Standards (IFRS).
Cash and cash equivalents at period end-discontinued operations	(1,982)	(37,770)	-	-	2) The parent company has been audited by the tax authorities up to and including 2004. 3) As at 30.06.2006, the fixed assets of the Group are free of liens and encumbrances.
Cash and cash equivalents at end of the period	4,592,633	6,522,464	4,221,423	5,958,986	4) Cases under litigation or in arbitration as well as pending cases before the Courts or Arbitration Courts are not expected to have a material impact on the financial position or operations of the Group.
Statement of Changes in Equity for the period					5) The average number of employees employed by the Group and the Bank during the period to 30 June 2006 was 21 121 and 13 874 respectively (30 June 2005: 21 417 and 13 625 respectively). 6) Amounts due from and owed to as well as income from and expenses to and off-balance sheet items with related parties of the Group, as of 30.06.2006 as defined in IAS 24, amounted to €46 million, €79 million, €0,8 million, €3 million and €57 million respectively. The corresponding balances and transactions for
		Group		Bank	the Bank as at 30.06.2006 were €1.385 million, €3.156 million, €45 million, €88 million and €307 million respectively.
	1/1-30/06/2006 1/1-30/06/2005		1/1-30/06/2006 1/1-30/06/2005		7) Of all companies consolidated as at 30.06.2006, EURIAL Leasing S.A. and National Insurance Brokerage S.A. were first time consolidated at 31.12.2005.
Balance at the beginning of the period	4,316,408	3,490,173	2,972,489	2,623,273	NBG International Holdings B.V. and NBG Asigurari S.A., were fist time consolidated at 30.09.2005 and 31.03.2006 respectively. Of all companies consolidated as at 30.06.2005 and 31.12.2005, the following subsidiaries are no longer consolidated: National Investment Company S.A., and National Real
Adoption of IAS 39 & IFRS 4	-	(142,500)	-	2,696	Estate S.A. due to their absorption by the Bank, National Development of Northern Greece S.A. due to liquidation, NBGI Jersey Ltd due to dissolution,ETEBA
Restated balance at the beginning of the period	4,316,408	3,347,673	2,972,489	2,625,969	Advisory SRL due to its absorption by ETEBA Romania S.A., and, Atlantic Bank of New York, NBG Canada and ASTIR Alexandroupolis S.A due to their disposal.
Changes during the period:					8) Profit for the reporting period 1/1 – 30/6/06 from discontinued operations is analyzed as follows: Revenues € 141.517 thousand (including gain on saleof discontinued operations €120.834 thousand), Expenses €12.304 thousand and Tax Expense €11.139 thousand. The respective figures for the period 1/1 – 30/6/05 amounted to €58.633 thousand, €33.829 thousand and €9.675 thousand respectively.
Net profit for the period	546,203	330,798	380,781	198,922	9) On March 31, 2006, the Ministry of Development approved the merger by absorption of National Real Estate S.A by the Bank and the issuance of 2 670 367
Net change in treasury shares	70	(2,681)	70	(5,704)	new ordinary shares of €5,00 nominal value each. (Ref. Of Merger Approval: K2-4813).
Prior year dividends, merger by absorption of subsidiaries, other changes	(467,405)	(239,098)	(399,197)	(227,298)	10) On April 3, 2006 NBG agreed to acquire 46,0% interest in the share capital of the Turkish bank Finansbank. The agreement was completed on 18 August 2006 for a total consideration of USD 2,774 million.
Minority interests	(15,467)	15,903	-	-	11) On July 13, 2006 the Bank agreed to acquire the entire share capital of P & K Investment Services.
Hybrid capital	(10,994)	246,709	-	-	12) On June 1, 2006 the 2nd Repeat General Meeting of the Bank's shareholders approved the share capital increase of € 3 billion. The share capital increase
Balance at the end of the period	4,368,815	3,699,304	2,954,143	2,591,889	was completed and fully subscribed on July 5, 2006, and was authorized by Approval: K2-10274/07.07.2006 of the Deputy Minister of Development.

13) Certain amounts as at 30.06.2005 were reclassified in order to render them comparable to the respective amounts of 30.06.2006.