ECB’s Nouy: Greek banks have improved ‘noticeably and substantially’ in past two years

There has been a significant improvement in the situation of Greek banks, both in terms of capital adequacy and governance, the European Central Bank (ECB) supervisory board chairwoman Danièle Nouy told the Athens-Macedonian News Agency (ANA) in an exclusive statement on Tuesday.

According to Nouy, the main challenge now was to deal with non-performing loans.
Her full statement is as follows:

“I’ve had constructive meetings with my colleagues at the Bank of Greece and with the management of the Greek banks during my third annual visit to Greece. The situation of the Greek banks has improved noticeably and substantially in the last two years, both in terms of capital adequacy and in terms of governance.”

“Now the major challenge is to deal with the non-performing loans. Banks have already taken decisive steps internally and I am optimistic that with the new legal framework expected to be enacted soon this challenge will be addressed as well.”