Christos Staikouras made special reference to the drastic reduction of non-performing loans in the banks’ portfolios
The significant improvement that has occurred in the Greek banking system in the last 3.5 years was recognized by the Minister of Finance Christos Staikouras and the Chairman of the Supervisory Board of the Single Supervisory Mechanism (SSM) of the European Central Bank, Andrea Enria, in a meeting they had today, as pointed out in a related announcement, while it is noted that this is a collective achievement of all parties involved.
The Minister of Finance made special reference to drastic reduction of non-performing loans in the banks’ portfolios – which, mainly due to the “Hercules” program, now constitute a single-digit percentage of all loans -, in the significant increase in deposits and in the improvement of the balance sheets of credit institutions. He also emphasized the necessity for the banks, with their initiatives, to avoid the creation of new non-performing loans due to the current energy crisis and the high, international, inflation.
For his part, the Chairman of the Supervisory Board of the SSM thanked the Minister of Finance for the close and creative cooperation, which supported the significant improvement of the resilience of Greek banks in recent years.
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