Moody’s considers the reduction of NPLs ‘credit positive’
In its latest credit outlook, rating agency Moody’s underlined that the reduction of non-performing loans (NPLs) and operation expenses of Greek bank is ‘credit positive’, even though the damages from granting loans continues to draw a large section of bank profits.
The credit rating agency notes that during the second quarter of 2016 the accumulated non-performing bank loans decreased by about 375 million euros. In conjunction with lower operation costs, Moody’s expect the banks to return to making profits.
Provided that there will be political stability in Greece, Moody’s expects the NPLs to significantly drop over the next three to four years. This is due to the problems involved with foreclosures and the sale of NPLs.
You may be interested
FYROM Foreign Minister: We were and will remain Macedoniansmakis - Jan 19, 2018
Foreign Affairs Minister of FYROM Nikola Dimitrov clarified that his country’s interests in the negotiations with Greece over the name…
EuroWorking Group gives “go-ahead” for completion of 3rd reviewmakis - Jan 19, 2018
The EuroWorking Group (EWG) is expected to issue a positive report for the completion of the third review of the…
Tsipras: Solution not only for name dispute, but also to irredentist rhetoric by FYROMmakis - Jan 19, 2018
Greek PM Alexis Tsipras said his government was determined to reach a mutually acceptable solution on the name dispute with…