Greek Banks Writing-off More NPLs Due to Increase in Bad Loans in 2017

Friday, May 12th, 2017
Last Update: 13:02

Bank sources have said that non-performing loans (NPLs) have grown as much as 2 billion euros since the beginning of 2017, ekathimerini.com reported.

This growth in NPLs has left Greek banks in a position where they are now trying to write-off more bad loans in order to try to meet their NPL target.

The cause of the 2 billion euro increase is believed to be mainly from uncertainty in the market due to the delay in the latest bailout review. NPLs in Greece were up in January and February, declined briefly in March and then increased again in April.

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