EXHIBIT 8  LIST OF
SUBSIDIARIES  Primary Operating Area
  
  Country of incorporation
  
  Direct
  
  Indirect
  
  TotalGreek bankingNBG Asset Management Mutual Funds S.A.
  
  Greece
  
  81.00
  %
  19.00
  %
  100.00
  %Ethniki Leasing S.A.
  
  Greece
  
  93.33
  %
  6.67
  %
  100.00
  %National Mutual Fund Management S.A.
  
  Greece
  
  100.00
  %
  
  
  100.00
  %International bankingThe South African Bank of Athens Ltd.
  
  South Africa
  
  91.44
  %
  8.06
  %
  99.50
  %NBG Cyprus Ltd.
  
  Cyprus
  
  100.00
  %
  
  
  100.00
  %Stopanska Banka A.D. (Skopje)
  
  FYROM
  
  73.04
  %
  
  
  73.04
  %United Bulgarian Bank AD  Sofia (UBB)
  
  Bulgaria
  
  99.91
  %
  
  
  99.91
  %UBB Asset Management
  
  Bulgaria
  
  
  
  99.92
  %
  99.92
  %UBB Insurance Broker
  
  Bulgaria
  
  
  
  99.93
  %
  99.93
  %Banca Romaneasca SA
  
  Romania
  
  88.71
  %
  
  
  88.71
  %NBG A.D. Beograd
  
  Serbia
  
  100.00
  %
  
  
  100.00
  %Vojvodjanska Banka a.d. Novi Sad
  
  Serbia
  
  100.00
  %
  
  
  100.00
  %NBG Leasing d.o.o. Belgrade
  
  Serbia
  
  100.00
  %
  
  
  100.00
  %NBG Services d.o.o. Belgrade
  
  Serbia
  
  
  
  100.00
  %
  100.00
  %Interlease E.A.D.
  
  Bulgaria
  
  100.00
  %
  
  
  100.00
  %Interlease Auto E.A.D.
  
  Bulgaria
  
  
  
  100.00
  %
  100.00
  %EURIAL Leasing SA
  
  Romania
  
  70.00
  %
  
  
  70.00
  %NBG Luxembourg Holding SA
  
  Luxembourg
  
  94.67
  %
  5.33
  %
  100.00
  %NBG Luxfinance Holding SA
  
  Luxembourg
  
  94.67
  %
  5.33
  %
  100.00
  %NBG International Holding BV
  
  Holland
  
  100.00
  %
  
  
  100.00
  %NBG Management Services Ltd.
  
  Cyprus
  
  100.00
  %
  
  
  100.00
  %Turkish bankingFinansbank AS
  
  Turkey
  
  76.99
  %
  7.90
  %
  84.89
  %Finans Leasing
  
  Turkey
  
  2.55
  %
  50.30
  %
  52.85
  %Finans Invest
  
  Turkey
  
  0.20
  %
  84.64
  %
  84.84
  %Finans Portfolio Management
  
  Turkey
  
  0.01
  %
  84.83
  %
  84.84
  %Finans Investment Trust
  
  Turkey
  
  5.30
  %
  64.51
  %
  69.81
  %Finans Malta Holdings Ltd.
  
  Malta
  
  
  
  84.89
  %
  84.89
  %Finans Malta Ltd.
  
  Malta
  
  
  
  84.89
  %
  84.89
  %IB Tech
  
  Turkey
  
  
  
  84.04
  %
  84.04
  %Investment and private bankingP&K Investment Services SA
  
  Greece
  
  100.00
  %
  
  
  100.00
  %NBG International Ltd
  
  UK
  
  100.00
  %
  
  
  100.00
  %CPT Investments Ltd
  
  Cayman Islands
  
  50.10
  %
  
  
  50.10
  %National P&K Securities S.A.
  
  Greece
  
  59.32
  %
  40.68
  %
  100.00
  %National Securities Co (Cyprus) Ltd.
  
  Cyprus
  
  
  
  100.00
  %
  100.00
  %NBG Greek Fund Ltd.
  
  Cyprus
  
  100.00
  %
  
  
  100.00
  %ETEBA Emerging Markets Fund Ltd.
  
  Cyprus
  
  100.00
  %
  
  
  100.00
  %ETEBA Estate Fund Ltd.
  
  Cyprus
  
  100.00
  %
  
  
  100.00
  %ETEBA
  Venture Capital Management Co S.A.
  
  Cyprus
  
  100.00
  %
  
  
  100.00
  %ETEBA Bulgaria A.D.
  
  Bulgaria
  
  92.00
  %
  8.00
  %
  100.00
  %ETEBA Romania S.A.
  
  Romania
  
  100.00
  %
  
  
  100.00
  %Innovative Ventures S.A. (I-Ven)
  
  Greece
  
  
  
  100.00
  %
  100.00
  %


Primary Operating Area
  
  Country of incorporation
  
  Direct
  
  Indirect
  
  TotalEthniki Kefalaiou S.A.
  
  Greece
  
  100.00
  %
  
  
  100.00
  %NBG International Inc. (NY)
  
  USA
  
  
  
  100.00
  %
  100.00
  %NBGI Private Equity
  
  UK
  
  
  
  100.00
  %
  100.00
  %NBGI Private Equity Funds
  
  UK
  
  
  
  100.00
  %
  100.00
  %InsuranceNBG Bancassurance S.A.
  
  Greece
  
  99.70
  %
  0.30
  %
  100.00
  %Ethniki Hellenic General Insurance S.A.
  
  Greece
  
  100.00
  %
  
  
  100.00
  %National Insurance Brokerage S.A.
  
  Greece
  
  
  
  95.00
  %
  95.00
  %Ethniki Insurance (Cyprus) Ltd.
  
  Cyprus
  
  
  
  100.00
  %
  100.00
  %Ethniki General Insurance (Cyprus) Ltd.
  
  Cyprus
  
  
  
  100.00
  %
  100.00
  %S.C. Garanta Asigurari SA
  
  Romania
  
  
  
  94.96
  %
  94.96
  %Finans Pension AS
  
  Turkey
  
  
  
  84.89
  %
  84.89
  %Audatex Hellas S.A.
  
  Greece
  
  
  
  70.00
  %
  70.00
  %OtherEthnodata S.A.
  
  Greece
  
  100.00
  %
  
  
  100.00
  %NBG Training Center S.A.
  
  Greece
  
  100.00
  %
  
  
  100.00
  %Ethnoplan S.A.
  
  Greece
  
  
  
  100.00
  %
  100.00
  %Pronomiouhos S.A. Genikon Apothikon
  Hellados (former NBG Venture Capital S.A.) .
  
  Greece
  
  100.00
  %
  
  
  100.00
  %DIONISOS SA
  
  Greece
  
  99.91
  %
  
  
  99.91
  %KADMOS S.A.
  
  Greece
  
  100.00
  %
  
  
  100.00
  %EKTENEPOL Construction Company SA
  
  Greece
  
  100.00
  %
  
  
  100.00
  %Mortgage, Tourist PROTYPOS S.A.
  
  Greece
  
  100.00
  %
  
  
  100.00
  %GRAND HOTEL SUMMER PALACE S.A.
  
  Greece
  
  100.00
  %
  
  
  100.00
  %Hellenic Tourist Constructions S.A.
  
  Greece
  
  77.76
  %
  
  
  77.76
  %ASTIR PALACE VOULIAGMENIS S.A.
  
  Greece
  
  78.06
  %
  
  
  78.06
  %Ethniki Ktimatikis Ekmetalefsis SA
  
  Greece
  
  100.00
  %
  
  
  100.00
  %