National Bank of Greece (ADR) (NYSE:NBG)

What's life without a little risk.

Bailout=confidence=stock price up. The Greek people are rich, lending is not frozen, and once the credit is back in a year or so this stock should hit double digits easily. Diversity as well, in balkans.

I am catching a falling knife here, which is freqently a bad idea.

But this has been driven to levels seen just after Lehman and the fall 2008 panic (though still well off the march lows) over Greece debt related panic. It is down some 60% from its high of a few months ago. Per SentinelBrit this thing is profitable and has a good business in Turkey as well.

Thumbs up.

Look at all the Greek headlines: mountaining debt, debt crisis, etc...

....and Zeus said: "don't worry, i told the EU leaders in their dreams to save Greece or they will be punished too.."

and so the National Bank of Greece rised...

Taking the other side of the trade. Shorting this thing on the pop.

well managed even in bad time, due to recover nicely

Good growth and earnings.

Good looking balance sheet

Black ink. Something you don't see too often these days in the financial industry.

You have a market cap in USD equal to total equity in Euros. And the capitalization is fat on this bank at tier-1 ratio of about 10% and this is mostly Common Equity which feeds this ratio. There is no major write off on speculative loans, not a lot of suspect securities and shadow banking stuff neither. As long as Greece do not default on its bond (NBG has about 13 billion euros of them), this will be correct and loaded with potential.

The trend is down for banks

A great little international bank, very little exposure to the housing market woes in the states. This bank should rebound nicely to around $10

This is the biggest bank in Greece, has been growing profits rapidly, but has a very low PE around 7 (with forward PE around 5).

It is well capitalized, has no exposure to American mortgage based instruments, and is not heavily dependant on credit markets as it is a more traditional bank that makes loans from customer savings. It is heavily invested in nearby rapidly growing markets like eastern europe and Turkey, where it provides basic financial services.

This one is cheap right now, time to buy

At this point I'm thinking... this is easy picking. Very good companies that people are scared to touch = very cheap quality banks.

With the financial sector out of favor, this growing bank conglomerate in Greece is at an attractive price and is a well-run bank poised for continued growth in overlooked regions.

They'll do well.

I bought this stock with real money which means it should go down now. Of course my outlook for the actual stock isn't over the few weeks time frame so I'm not too worried