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.
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