ECB official: Greek banks met NPL reduction targets this year

Greek banks have met their targets on reducing non-performing loans (NPLs), European Central Bank’s (ECB) Andrea Enria said in an interview to Eesti Ekspress, an Estonian newspaper.

Speaking on NPLs in southern European banks overall, the chairman of ECB’s Supervisory Board said that ECB had a very strong policy plan on dealing with NPLs, including what targets to set. The policy, he said, was successful, as over 1 trillion euros in loans were reduced to 580 billion euros.

The reduction includes Greek banks, he said which succeeded in meeting their reduction targets this year and will continue to reduce them next year. The ECB is following their progress, he told the newspaper.