Greece's second-largest lender National Bank (NBG) will sell three portfolios of non-performing loans this year, its chief executive said on Friday.
Presenting the bank's 2019-2022 strategy, Chief Executive Officer Pavlos Mylonas told reporters that the bank plans to securitize about 3 billion euros ($3.35 billion) of soured loans in the next four years.
The key condition for banks to hit their targets for reducing nonperforming exposures is that property prices continue to climb, according to the National Bank's chief executive officer, Pavlos Mylonas.
He was speaking at the Capital+Vision conference, organized by the German-Greek Chamber of Commerce and Industry, in Athens on Monday.
The second-quarter financial results published by the National Bank of Greece (NBG) on Friday reflected the gradual strengthening of operating profits and of liquidity, and the achievement of the target for the reduction of nonperforming exposures for the entire 2018 already from the first half of the year.