The Greek banking sector’s return to core profitability and its efforts to reduce the remaining non-performing loans within the next three years were discussed in a meeting between the leadership of the Hellenic Bank Association (HBA) and the head of the European Stability Mechanism (ESM) Klaus Regling in Luxembourg on Tuesday.
The HBA presented the latest data on the sector which show improvement during 2016 and the challenges still facing lenders regarding liquidity and the effective management of NPLs. The association noted that achieving this goal will depend on reducing uncertainties and improving the economic environment.
The delegation of Greek bankers also confirmed the lenders’ intention to cooperate with all the relevant authorities and regulators, including the ESM, to deal with the important challenges of the sector. They also vowed to contribute to the recovery of the Greek economy by supporting growth.
The delegation included HBA president Nikolaos Karamouzis and Vice-president Vasilios Rapanos.