Greece’s second-largest lender National Bank (NBG) plans to reduce its non-performing loan portfolio to around 5 percent of total loans by 2022, it said in an investor presentation on Thursday, from 41 percent at the end of 2018, according to Reuters.
Soured loans are the greatest challenge facing Greek banks, the legacy of a multi-year debt crisis that shrank the country’s economy by a quarter and drove unemployment to a high of nearly 28 percent in 2013.
NBG anticipates large mortgage securitisations between 2021 and 2022, when market conditions are expected to have improved.
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