Why We’re Buying National Bank of Greece (NBG)

Why We’re Buying National Bank of Greece

The video below is part of The Motley Fool's "11 O'Clock Stock" series where we recommend a new stock every weekday at 11 a.m. ET on Fool.com over 50 weekdays. To see a video of co-founder Tom Gardner explaining the series, click here. To see our original recommendation of National Bank of Greece (NYSE: NBG ) , click here.

Is there opportunity in debt-riddled Greece? Motley Fool Global Gains advisor Tim Hanson thinks investors should start looking back at the country. Specifically, he feels its austerity plans have been a success thus far, and that should benefit banking giant National Bank of Greece. To see his full thoughts, watch the video and then read on below:

Hanson says that as long as Greece doesn't default, National Bank of Greece is the largest bank in Greece, has sticky deposits, is the country's loan leader, and has several other positives that should make it a winning stock. In addition, the bank owns valuable banking operations in Turkey that have performed very well recently.

So while National Bank of Greece trades at a premium relative to banks like Royal Bank of Scotland (NYSE: RBS ) and Allied Irish Banks (NYSE: AIB ) , thanks to its strong position and international exposure, Hanson sees the bank outperforming in coming years.

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Tim Hanson is co-advisor of Motley Fool Global Gains. Follow him on Twitter. He does not own shares of any company mentioned. The Fool's disclosure policy recommends a research trip to Greece.

Comments from our Foolish Readers

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Report this Comment On August 13, 2010, at 7:50 AM, Fliujniligui wrote:

This video is telling me exactly why I will be buying it. What it doesn't tell is that we may see 2.20$ again and I will maximize security and impatience management by waiting such price to hoard more shares.
Greek debt spreads are up again
Euro is down again...
Let's wait for ''End of the World'' like headlines + 1-2 weeks before buying. What Fool fails is market timing and I followed just too often into buying a stock called cheap at twice its bottom price.