Banks slash bad-loan stock by over 15 billion euros in a year

Greece's four systemic banks have reduced their stock of nonperforming exposures (NPEs) by 15.3 billion euros in the last year, as their financial reports at the end of June showed that their total NPEs stood at 78.8 billion, compared to 94.1 billion a year earlier.

This reduction is the outcome of loan restructurings and settlements as well as the extensive sales of loan portfolios.

According to the second-quarter results issued by banks last week, Eurobank considerably reduced its NPE stock from 18.9 billion euros a year earlier to 14.3 billion, bringing down its share of NPEs from 40.7 percent to 32.8 percent of all loans issued.

Alpha Bank cut its NPEs from 28.8 billion euros in June 2018 to 24.7 billion last June, reducing the NPE share from 51.9 to 48.1 percent.

National also significantly contained its NPEs, from 17 billion to 13.7 billion euros...