Eurobank leads Greek peers with lowest bad loan ratio after doValue deal

Eurobank has moved ahead of Greek peers in the drive to cut bad loan volumes after completing a deal with Italian debt recovery firm doValue, and is now focused on boosting lending, its chief executive told Reuters on Tuesday.

Greek banks have been making headway in their bid to sell, write off or restructure billions of euros of soured loans accumulated during the last financial crisis.

The high level of non-performing exposures (NPEs) - about 40% of their loanbooks in March - constrains their ability to finance the country's economic recovery.

Fokion Karavias said Eurobank's NPE ratio at 15.6% with 60% coverage "stands out in the Greek market". The ratio stood at 31.1% in September last year, while those of close peers National Bank and Alpha Bank were at 30.9% and 30% respectively.

"We are now able to zero in on financing the real economy," he said. ...