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here - Nbg.gr
Leading Ahead a periodical publication for the employees of the NBG Group ISSUE NO. 14 - July 2009 Share Capital Increase NATIONAL BANK OF GREECE 3 Editorial 8 Developments 12 - 13 Developments 4-5 Our News 9 Awards 14 - 16 CSR 6-7 Main Article 10 - 11 Developments 17 - 19 Our Group Printed on non-chlorinated paper Leading Ahead Title of the Greek edition: Πρώτοι Εμείς a periodical publication for the employees of the NBG Group ISSUE NO. 14 - July 2009 Editors Internal Communication Team, Nikos Kanelopoulos, Evi Totoni, Fotini Skarlatou, Sofia Karakasi Tel: (+30) 210 3342230 (or extension 12230), (+30) 210 3342919 (or extension 12919) email: epikoinonia@nbg.gr 2 Internal distribution No part of this publication may be republished, reproduced or altered, in any form or by any means, mechanical, electronic or photocopying, without the prior written permission of the publisher (Law 2121/1983 and rules of international law in force in Greece). You can access this publication through the Web at http://ete/EsotEp/ For the Greek edition follow the path: Η Τράπεζα/Ανθρώπινο Δυναμικό/ “Πρώτοι Εμείς” For the English edition follow the path: The Bank/Human Resources/ “Leading Ahead” Please send us your views, topics you would like us to publish or even an article written by you, at epikoinonia@nbg.gr “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.” 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 Our news Conference in Patras: “Small Businesses – Big Opportunities in Times of Crisis” 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. 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. Mr. G. Zografakis; the Regional Manager for Patras, Mr. Ch. Christou; the Manager of the B3 Business Loans Centre, Mr. H. Papakostas; 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. K. Antzoulatos. NBG was represented by its General Manager for Retail Banking, Mr. M. Moisis; the Manager for the Western Greece Branch Network Division, 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. Andreas Athanassopoulos, Assistant General Manager for Retail Banking, on Small Businesses – Big Opportunities in Times of Crisis, 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 Developing the off-site ATM Network 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 Ebusiness 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. The Group Internal Audit-Inspection Division responds to the challenges of the day 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. Takis Arapoglou and the Head of Human Resources and Group Internal Communications Mr. S. Gatopoulos. 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 Mr. G. Paschas 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. Protecting ourselves against the new flu virus 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. 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. The telephone number of the Hellenic Centre for the Control of Infectious Diseases (KEELPNO) is 210 521 2054 and 522 2339. Symptoms of the new flu 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. How the flu virus is transmitted from person to person 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. Main article NBG's Share Capital Increase In mid June, NBG's management decided on a By choosing to act at this particular point in time, see that banks maintain higher levels of capital rights issue to raise NBG's share capital by €1.25 NBG has gained a significant competitive adequacy than was previously the case, as stricter billion. The share capital increase took place at a advantage given that it approached the capital regulations and stricter banking supervision comes good moment, in anticipation of developments in the markets in a timely manner before other European into effect on a European level. It is therefore sector. The increase in share capital enables us to credit institutions begin a round of similar increases. crucially important for NBG to be amongst the first to achieve the strategic flexibility necessary for the The share capital increase at this specific point in banks to meet the demands of investors for stronger further expansion of our Group's business activities, time has also provided us with a competitive capital structure of banks across Europe, although it whether organically or through targeted acquisitions strength since it is expected that not only the should be pointed out that NBG is already in the wider region of SE Europe. regulatory authorities but also investors will want to 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. Finally, the level of funds raised is sufficient to to participate in the over-subscription process for ensure that for a long time the Bank does not need unsubscribed shares, the Bank's personnel and its to resort to the capital markets in order to obtain retired employees were also able to take part in the extra cash. Clearly, in taking the decision to rights issue. 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 Developments 308... in action! The employment of 308 young people selected within the framework of NBG's Employment Programme for Unemployed Young People commenced on 15 June 2009. 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 profile of participants 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 “Gaining Experience in NBG” Seminar The placement of the 308 young people into the NBG workplace got off to a strong start with an induction seminar held on 15 and 16 June 2009 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. 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 Diverse awards for NBG 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 Top Performer Awards among around 1,200 companies altogether. During the competition, material was sent in order to The Contact Center team. Left to right: Κ. Glentzakis, support technician, Ν. Bales, customerservice sub-division, Ν. Mavrelis, telesales subdivision, Th. Patsilinakos, support technician, Ζ. Lyratzi, telesales representative, Α. Bontaiti, customer service representative, Τ. Boti, customer service sub division, Μ. Kiriakopoulou, customer service representative and P. Papaspiropoulos, head of the Contact Centre team,with his son Christos. 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 processes that comprise quality service through highest possible score as regards the operating alternative banking channels, such as Best Sales parameters of the Contact Center, its prospects, Agent, Best Customer Service Agent, Best and its philosophy regarding the future expansion of Customer Service Supervisor, Best Support its services. The companies participating represent Professional IT, Best Innovative Technology highly competitive market sectors such as those of: Solution Internal, and Best Support Professional Banking, Telecommunications, Energy, Outsourcing Workforce Planning. and Services. These distinctions serve to justify NBG's strategic Through a strictly defined competitive decision to develop its alternative Networks as a procedure which included a presentation, pioneering, dynamic and productive method of voting, interviews with a committee, and delivering services and which will in the near future personal interviews, NBG succeeded in gaining be expanded to customers of the Group's subsidiary 9 distinctions in total, and in doing so won the companies as well. single largest number of distinctions of all of the competing organizations. The head of the Contact Center team, Pericles Papaspiropoulos. It is worth noting that the categories in which NBG distinguished itself included the full range of Developments Electronic Mail System: a major step forward by Yannis Balabanis Head of Business Processes The advantages of the system are many: electronic archiving of other documents attached to emails, such as contracts, 1. Virtually no time at all is required for the 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. transmission of documents between Bank complex search of all types of documents, Units. electronically indexed in the system, with the use of a single (e.g. filing number) search item 2. The quality of in-house communication is or combination of items, significantly upgraded through the introduction of uniform document models throughout the keeping officers/ heads of departments Bank, and in each of its Units. updated (so long as they are in the Electronic Telephone Directory) on the status of pending 3. It enables: the implementation of uniform rules for the electronic signing and sending of documents per document type, direct forwarding of incoming mail in tandem with electronic signing of the mail, selective sending or copying of documents to groups of users, processing of incoming and outgoing correspondence concerning their units, Improving the operation of Units and identifying any possible weak spots using statistics that can be retrieved from the system. 4. The System reduces: substantially the need to find and maintain physical space for filing hard copies of correspondence, the Bank's overall operating costs. 5. It helps save natural resources: 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. 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. 6. Further advantages: a) The time required for the transmission of documents from the sender to the receiver, which used to be 1 to 4 days at least, is now a matter of seconds with the addition of the final electronic signature on the document. b) The paper required for just one document (for example a one-page memo) used to be 7 sheets, (for drafts, copies, etc.) while now it has been reduced to 2 sheets at most. Conservation of Resources Paper BEFORE EMAIL Folders Consumables AFTER EMAIL Reduction in Operating Expenses for the 5-year period 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 BEFORE EMAIL AFTER EMAIL companies. Data from the relevant feasibility study (adjusted on the basis of observations made following implementation of the System) Developments Opening of new Branches In Kato Achaia, Farkaina in Chios, and Iraklio, Crete. 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". Mr. I. Pehlivanidis, Deputy Chairman and Deputy CEO 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. G. Thanos, and the Head of Branch Network V, Mr. G. Zografakis, 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. ] The opening events were organized by the Group Strategic Marketing and Communication Division. Kato Achaia Farkaina, Chios This is the first instance of implementation of the new concept in an island of the Aegean Sea. The Prefect, Mr. Lamprinoudis, 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". 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. G. Ntinos, 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. D. Gotsoulas, thanked NBG for its support for efforts to clean up the shoreline of the Municipality and to rebuild the area. Mr. I. Pehlivanidis, presenting an honorary plaque to the Gold Olympic Medallist Georgios Kapellakis At the opening of the Branch in 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. The Manager of the Farkaina Branch, Mr. D. Varsos, 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. M. Glykas, who contributed so much to the event's success. Iraklio, Crete In his speech, Mr. Thanos 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. S. Petrakis, 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”. At the opening of the Farkaina Branch, Chios Mr. M. Moissis, General Manager of Retail Banking, at the opening of the Farkaina Branch 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 Deputy Chairman and Deputy CEO, Mr. I. Pehlivanidis, referred to initiatives taken by NBG to provide manifold support to businesses and individuals, and he presented an honorary plaque to Mr. Georgios Kapellakis, Gold Medallist at the Beijing Paralympics. Mr. I. Pehlivanidis, Deputy Chairman and Deputy CEO, with Mr. E. Evangelakis, Regional Manager for Crete Mr. S. Petrakis, Manager of the Iraklio Branch Mr. Moissis made 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 From left: Mr. G. Zografakis, Head of Branch Network V, and, Mr. G. Dinos, Manager of the Kato Achaia Branch. CSR NBG's sponsorship programme NBG's sponsorship programme is a key component of the Bank's Corporate Social Action programme. by Alexandros Stavrou, Manager of BoD Secretariat & Shareholder Services Division 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. NBG sponsors the THORAX Foundation, which aims to construct, equip and run research and clinical laboratories and Intensive Care Units. 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. 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 consistently supported sports 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. 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 sustainable development and the protection of the environment, 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. th 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. 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 th Sailing Races, the 25 Vardinoyiannia Games, 2009 Tsiklitiria Grand Prix). In the areas of science and education, 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. 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. CSR 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. 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 staging of Verdi's Aida by the Greek National Opera. The organization of the International Short Film Festival. 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. 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. nd 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). Sponsorship support for the restoration of an 18th 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. Our Group NBG in Albania Brief history of NBG in Albania 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 million. NBG Tirana was set up as a general commercial bank under the legal form of a societé anonyme. 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 in the Albanian market, providing financial support to corporations, households and individuals. To continuously grow the product/service portfolio and improve administrative flexibility. Competitive advantages of the Bank in the local market and strategic targets To strengthen and consolidate a leading position in the market, as significant player in the Albanian economy. 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: Security –As part of the NBG group, NBG in Albania is a source of confidence and security for depositors. Tradition and experience –It is a modern bank, providing intelligent products, smart solutions to customers' needs, and sound advice. Transparency – The values of honesty, transparency and integrity underlie all the relations of the bank with its clients and partners. Professional local staff – 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 further develop a professional team that can respond effectively to competitive challenges. Ability to respond swiftly to the needs of the market 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. Services 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 NBG in Albania – strategic objectives To effectively meet customer needs and enhance shareholder value. 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: Our Group Values, culture, human capital NBG's network of 30 branches covers Albania The values and culture of NBG in Albania aim at geographically. All branches operate with ATMs keeping the policy and profile of the Group to the and are linked up on-line. Through a well highest standards. It continuously invests in its organized promotion campaign, NBG in Albania Consumer loans human capital through training programmes, holds today a considerable number of deposits. Home equity seminars and workshops in order to cover staff Corporate Social Responsibility / Awards needs via all potential resources (internal and In the sphere of Corporate Social Responsibility, external). NBG in Albania made a contribution to the The Bank is an equal opportunity employer and following: A. Retail banking: The Bank offers very attractive deposit products, fund transfer services etc, such as: Mortgages Current accounts accordingly encourages its entire staff to take part Time deposits Fund transfer VISA Electron Debit Card 24/7 ATM services Credit lines for SMEs B. Corporate banking: Since NBG is a major business partner in the Albanian market, it assists corporations in in training events, so that everyone can develop their careers effectively within the Bank, Sponsorship for the project "Guinness World regardless of gender, age and other issues. It Record for creating a Mosaic with wine prioritizes training opportunities so as to enhance spigots" (8 Aug- 4 Sep). the effectiveness of its programmes, and actively Sponsorship to the Greek Embassy for encourages staff to take part in its annual training organising the Trojans Theatre in Butrinti, schedule. Saranda (July 2008) As a result of the Bank's growth, NBG has Sponsorship to the Greek Embassy and the increased its personnel in Albania to 340 persons. Greek-Albanian Chamber of Commerce for All of them (100%) are university graduates while organizing a Concert featuring Renato Ripo 10% of them hold postgraduate degrees. and Aris Garoufalis Sponsorship for an outstanding student from developing their business. Today, the Bank collaborates successfully with local and international companies, delivering financial solutions and tailor-made products through its corporate department. Sponsorships in 2008 for Art & Education: Highlights the Faculty of Economics to take part in the Backed by the NBG Group vision for the “Travelling in Europe” project. Southeast European countries and working on a well designed strategy and business plan, NBG has managed to maintain a good position in the Corporate social responsibility: Albanian market. It has considerably increased its market share with ongoing development of its products and improved services. Sponsorship to the International Social Service for the project "Psychosocial Services to reduce post-trauma effects among the children The Bank holds a leading position in Retail of Gerdec". Sponsorship to Gjirokastra Municipality for the Lending (mortgage market) and is the preferred organization of "The National Days of the banking partner for a considerable number of Albanian Cultural Heritage". Gjirokastra has corporate and individual clients. been designated a UNESCO "World Heritage Site". Contribution to the NBG Group vision The Bank has contributed substantially to changing attitudes toward mortgage loans in Albania. Our Bank was the first to provide uncollateralized 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. Priorities in 2009 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. NBG sponsors the Shkodra Girls' Basketball Team NATIONAL BANK OF GREECE