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NBG to reduce its NPEs to 5% by 2022
The National Bank of Greece aims to reduce its NPEs to 5% within the next three and a half years, according to the plan the bank presented to investors. At the end of last year the bank’s NPEs were at 41%.
According to the bank’s executives the reduction of the NPE volume from 16,3 bn last year to 1,7 bn will come as a result of NPL portfolio and corporate loan sales.
To a large extent, the NPE decrease will come as a result of sales, securitisations and liquidations. According to the bank’s plan, by 2020 there will be sales of retail portfolios, SBL and SME loan portfolios.