Responding to a question posed during the Company's Annual General Meeting, the President of the NBG Group Mr Arapoglou stated that those who claim that NBG is about to sell Ethniki Insurance Company have a bad memory. Mr Arapoglou noted that:
- No provision for selling Ethniki Insurance or Asteras Vouliagmenis was included in the 2007-2009 Business Plan of the Group, which is applied without exception.
- The NBG Group has already invested Euro 130.000.000 for share capital increase, Euro 25.000.000 to strengthen the Insurance Company's reserves and Euro 11.000.000 for the early retirement scheme.
- The synergies with NBG are extensive and successful.
- Ethniki Insurance is a strong business partner of the Bank, as can be seen by the results of Bancassurance and Assurebanking during the last two years.
Mr Arapoglou declared that even though no dividend was distributed in the last three years, Ethniki's capitalization in the Stock Market has increased from Euro 216.000.000 to Euro 720.000.000.