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Euro zone banks see a further drop in soured debt: ECB -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : Andrea Enria is the chairperson for European Banking Authority at Reuters Summit in London (Britain), September 25, 2017. REUTERS/Afolabi Sotunde

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FRANKFURT, (Reuters) – Eurozone banks anticipate a further fall in the amount of distressed loans on their books. This projection may not be realistic given the fact that many firms are still suffering from the effects of the pandemic. Andrea Enria, supervisor of European Central Bank, stated Tuesday.

Enria said that all banks expect a continuing decrease in gross non-performing loans (NPLs) up to at least 2022. She also expressed concern about this expectation during a Finnish supervision conference.

He said, “Banks should be cautious and not rush to release provisions or create profit now and regret it later.”

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