BoG: Progress in reducing NPLs, mixed picture in other indexes affecting Greek banks
A Bank of Greece (BoG) review for the country’s banking sector in 2018 notes that it remains in a “recovery orbit”, as an official exit from the bailout era and a modest economic growth have consolidated credit stability.
At the same time, the BoG emphasized that a further reduction in “bad debt”, improved credit extension and liquidity are a necessary condition for systemic banks to free up capital for the “real economy”.
At present, Greece thrice recapitalized systemic banks have weaned themselves completely off an ELA credit line, meaning a return to a normal borrowing cycle.
In terms of reducing non-performing loans (NPLs), the still massive “mountain” of “bad debt” stood at 81.8 billion euros at the end of 2018, or 45.4 percent of the total, down from 94.4 billion euros (47.2 percent) at the end of 2017.
You may be interested
Visit the Greek island in the 100 most impressive list in the worldPanos - Aug 05, 2021
Ios was recently included in the list of the most impressive islands in the world on the news site Insider.com.…
Mitsotakis: The critical infrastructures endured – The houses will be rebuiltPanos - Aug 05, 2021
The Greek Prime Minister, Kyriakos Mitsotakis and the Deputy Minister of Civil Protection, Nikos Hardalias made statements after the extraordinary…
Ancient Olympia: The International Olympic Academy is safe for now – Battle with the fire resurgences (video)Panos - Aug 05, 2021
A new alarm for Ancient Olympia as, early in the morning, a new front emerged, heading towards the facilities of…