BoG Gov. reportedly promises creditors new bank managements by Oct. 31

Bank of Greece (BoG) Governor Yannis Stournaras reportedly promised institutional creditors that the board of directors of Greece’s four systemic banks will have been replaced by Oct. 31, in line with SSM-mandated guidelines on corporate governance.

Stournaras, Greece’s increasingly high-profile central banker and previous finance minister in the coalition government preceding the current leftist SYRIZA administration, met on Sunday morning with creditors’ top representatives in Athens.

According to reports, the central banker promised both an announcement over the board changes and the appointment of new top executives.

Moreover, Stournaras also reportedly cited figures from the second trimester of the year showing a slightly improved situation in terms of non-performing loans (NPLs) in the country.