Christos Sclavounis

BoG rejects single bad bank

 Lenders have created their own units to deal with nonperforming loans and their merging would be difficult

By Yiannis Papadoyiannis

Sources from the Bank of Greece have categorically ruled out the creation of a single “bad” bank that would gather all the commercial lenders’ nonperforming loans (NPLs), which add up to some 35 percent of the total, under one roof.