National Bank of Greece S.A. (NBGRY) Q4 2025 Earnings Call Transcript

SA Transcripts158.71K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call National Bank of Greece S.A. (NBGRY) Q4 2025 Earnings Call February 27, 2026 3:30 AM EST Company Participants Paul Mylonas - CEO & Executive DirectorChristos Christodoulou - GM & Group CFO Conference Call Participants Benjamin Caven-Roberts - Goldman Sachs Group, Inc., Research DivisionMehmet Sevim - JPMorgan Chase & Co, Research DivisionGabor Kemeny - Bernstein Autonomous LLPRobert Brzoza - Biuro Maklerskie PKO Banku Polskiego, Research DivisionIlija Novosselsky - BofA Securities, Research Division Presentation Operator Ladies and gentlemen, thank you for standing by. I am Gelly, your Chorus Call operator. Welcome, and thank you for joining the National Bank of Greece conference call to present and discuss the full year 2025 financial results. At this time, I would like to turn the conference over to Mr. Pavlos Mylonas, CEO of National Bank of Greece. Mr. Mylonas, you may now proceed. Paul MylonasCEO & Executive Director Good morning, everyone. Welcome to our fourth quarter 2025 financial results call. I'm joined by Christos Christodoulou, the Group CFO; and Greg Papagrigoris, Group Head of IR. After my introductory remarks, Christos will go into more detail on our financial performance, and then we will turn to questions and answers. As usual, I will refer to Greece's macroeconomic developments first, then turn to our fourth quarter results. and I will conclude with our guidance for the next 3 years, 2026, 2028. So let's begin. The Greek economy remains on a steady, upward trajectory, notwithstanding persistent global volatility amid intensifying geopolitical tensions with the EU appearing particularly exposed to ongoing structural shifts. Within this challenging environment, Greece has delivered not only a resilient performance, but also a more balanced and higher quality growth mix. Indeed, the recovery has become more broad-based with manufacturing, high value-added services and construction increasingly complementing tourism. The economy remains attractive to investment as gross fixed capital