Non-performing loans are expected to grow in coming months making their reduction an urgent priority, the Bank of Greece said in a report on Thursday, according to ANA.
The central bank, in its Financial Stability Report, noted that the stock of NPLs fell to 60.9 billion euros at the end of March 2020, from 68.5 billion at the end of December 31, or 37.3 pct of total loans by credit institutions in the country. However, the Bank of Greece noted that with uncertainty over a further rise, limited capability because of low profitability for the creation of capital, an expected deterioration of the deferred tax claim as a percentage of supervisory equity capital, but mostly the urgent need to fund the real economy, it is clear that additional action is necessary by banks and the Greek state.
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