Covid-19 presents new, significant challenge in banks' effort to reduce NPLs

EconomyBanking Tags: Banking, Coronavirus, NPLs
Photo via Flickr https://flic.kr/p/4hVnhM
Photo via Flickr https://flic.kr/p/4hVnhM

The Greek banking system entered the new year with positive momentum for tackling the stock of non-performing exposures (NPE) after the Hercules asset protection scheme (APS) was launched, but the four weeks since the outbreak of the virus in Greece have brought the economy to a standstill and raised concerns about a new generation of bad loans.

In the annual governor’s report published last week, the Bank of Greece (BoG) takes stock of the situation in 2019, when NPEs settled at 68 billion euros in December, reduced annually by close to 14 billion euros, and more than 39 billion since the Marc...

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