Banks should reduce non-performing loans now - Fitch

By TPN/Lusa, in News · 14-04-2018 22:13:00 · 0 Comments
Banks should reduce non-performing loans now - Fitch

Rating agency Fitch said that the banks in Southern European countries, including Portugal, should reduce their non-performing loans while economic conditions were good, so they would be better protected when the cycle inverted.

Fitch said 2018 and 2019 should have good economic growth and banks would be advised to take advantage of the situation, but there was a difference between the banks in the north and south of Europe as the latter had high levels of non-performing loans and other problematic assets.

The agency also said that non-performing loans were above the European average of 10% in seven countries with Portugal in third place.

The country with the worst problems was Greece, with 44.9% of loans not performing, followed by Cyprus, with 38.9% and Portugal in a distant third place, with 15.2%.


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