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Finance Ministry grapples with escalating cost of pandemic
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BoG underlines progress in NPE reduction but stresses need for systemic solution
In its annual report published on Monday, the Bank of Greece (BoG) provided an update regarding Non-Performing Exposures (NPE), which is the major challenge for the domestic banking system and in which the BoG has taken an active role by leading an initiative for a more systematic approach to improving banks’ balance sheets.
At the end of last year, NPEs stood at a total of 81.8 billion euros, which was 12.7 billion lower compared to the end of 2017, and 25.4 billion below their peak in March 2016.
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