Greek banks stepped up write-offs in 2016, provisions increased at slowest pace since 2008

EconomyBanking Tags: Banking, NPLs
Photo by Panayiotis Tzamaros/Fosphotos
Photo by Panayiotis Tzamaros/Fosphotos

Greek banks stepped up the number of write-offs in 2016 compared to the previous years, the Bank of Greece (BoG) revealed.

Specifically, write-offs in the Greek market reached a record high of 2.54 billion euros in 2016, up by more than 1 billion from the 2015 figure of 1.46 billion. The previous high of 1.76 billion was recorded in 2014.

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