National Bank of Greece is a commercial bank and was incorporated in the Hellenic Republic in 1841. The Company and its subsidiaries provide financial services activities including retail and commercial banking, investment management, investment banking, insurance, investment activities and securities trading. The Group's non-financial service activities include hotels, warehouse management and real estate investments. The Group operates in Greece, Turkey, UK, South Eastern Europe which includes Bulgaria, Romania, Albania, Serbia and FYROM, Cyprus, Malta, Egypt and South Africa The Company operates in Bulgaria, Serbia, Romania, Albania, Cyprus and FYROM. The Company competes with foreign banks. It is subject to financial services laws, regulations, administrative actions and policies in each location where it operates.