Banks: Running to reduce "red" loans – economic news of the day

In a run for the sale of their "red" loans, banks were served to achieve the goals set by SSM to devalue late loans in their portfolios

SSM seems to have informed one is waiting that banks reduce their non-performing exposures to less than 20% by 2021. Thus, banks accelerate sales of red loans this year

Strong recommendations from SSM for strategy what should be a the Greek banks, which do not combine a high percentage of radiation and the possibility of a more ambitious revision of the objectives next September, speed up the administrations

It is recalled that the objective for December 2019 is the Unserved exposures (NPEs) declined to 35.2% of total bank exposures, while 2017 was at 50.6% (64.6 from 101.8 billion euros)

Banks are going intensify the next ve "Red" loans, as long as profits are expected to reduce NPEs to less than 60 billion at the end of 2019.

Moreover, the Bank of Greece's 2017-2018 Monetary Policy Report states that unproductive loans represent the biggest challenge for banks and notes that in 2017, they fell 10% to 94.4 billion euros mainly due to write-offs (6.5 billion) and less because of sales (3.6 billion).