Greek banking system has significantly improved, SRB head says

The Greek banking system has improved significantly in the last few years although some special issues still remain, Elke Konig, chair of the Single Resolution Board said in an interview.

Konig said that some problematic assets from previous crises and a big rate of non-performance loans in banks’ balance sheets were the basic challenges for some Eurozone member-states. She added that for this reason, “Greek banks are implementing an ambitious plan to reduce their non-performing loans under the supervision of the Bank of Greece and the Single Supervisory Mechanism.”

“It is important that this process moves forward as scheduled and this will need a strict implementation by banks,” Konig said, adding that a recent lifting of legal, court and administrative hurdles in the management of NPLs, combined with the creation of a secondary market for the servicing and selling of NPLs are considered to be a welcoming measure.

Source ANA-MPA
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