Greek banks' rate of NPLs in decline

2018-06-02 02:50:31

(MENAFN) Greek banks are witnessing a reduction in their non-performing loans' (NPLs) rate, as stated the Bank of Greece (BoG).

The BoG warned that considering the decline target of which was set for the end of next year was met, the rate is to remain particularly high.

The Greek central bank has seen a decline in the NPLs rate, reaching 43.1 percent of all loans by the end of 2017 from 44.8 percent at the end of the previous year.

University of Athens economics lecturer Dimitris Kainourgios also said while speaking to Xinhua that "there is no doubt the systemic banks have to act faster and more efficiently, and the current effort to sell NPL portfolios to funds is in this direction."

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