NPL reduction going well for Piraeus Bank

TAGS: Banking

Piraeus Bank is on course of reducing its stock of nonperforming loans to 19.1 billion euros by the end of the year, from 23 billion in end-March, according to an interview the group’s Chief Executive Officer Christos Megalou gave to Bloomberg.

The bank has already sold bad loans worth about half a billion from its subsidiaries in Serbia, Romania and Bulgaria.