Bank of Ireland Shows Clear Signs of Recovery While National Bank of Greece Remains in the Doldrums
The Paragon Report Provides Equity Research on National Bank of Greece & The Bank of Ireland
NEW YORK, NY -- (Marketwire) -- 11/28/11 -- Shares of several European Banks are presently trading near 52-week lows as it becomes increasingly difficult and expensive for these financial firms to secure the dollars they need to pay for loans denominated in US currency. While Eurozone banking stocks continue to take a thrashing, there are some signals of a recovery in some EU states. The Paragon Report examines investing opportunities in the Foreign Banking Industry and provides equity research on National Bank of Greece SA (NYSE: NBG) and The Bank of Ireland (NYSE: IRE) (LSE: BKIR) (Irish: BIR.IR). Access to the full company reports can be found at:
Ireland was considered to be the first Eurozone state to fall into the 2008 recession. However after getting a bailout in November of last year, the country is showing signs of recovery. John Bruton, a former "Taoiseach" (prime minister) of Ireland, points out that the country has recorded two consecutive quarters of positive growth in an environment where its PIIGS counterparts, Portugal, Spain, Italy and Greece, remain on the downswing. "We have made a remarkable turnaround given the depth of the problems that we faced, to be able to get to a point where we have significant economic growth of about 1% in the last two quarters against a background of imposed austerity," said Bruton.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Foreign Banking industry register with us free at www.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.
Ireland's government pledged to radically shrink its domestic banking sector after a disastrous binge on property loans. Bank of Ireland, the country's largest lender, is to sell 10 billion euros in loans and accept repayment of another 20 billion euros worth by the end of 2013. Bank of Ireland has already sold a portfolio of project finance loans with total commitments of 670 million euros to GE Energy Financial Services.
Shares of National Bank of Greece were showing signs of life earlier this month after banker Lucas Papademos was named as the new Greek Prime Minister. Since then shares have slid back close to 52-week lows, however. The company is involved in retail and commercial banking, global investment management, investment banking, insurance, investment activities, and securities trading operations.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.paragonreport.com/disclaimer
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