Greek economy and banks committed to ambitious NPL reduction by 2021

Hellenic Bank Association is ready to agree with the government on a new framework to protect first home that will not create any side-effects, Nikos Karamouzis, president of the association announced on Monday, according to ANA.

Speaking to reporters, Karamouzis admitted that non-performing loans are a big challenge for the society, the economy and banks have committed to an ambitious programme of NPL reduction by 2021. He added that home protection should cover lower incomes that will be able to meet their obligations with the support of the state and pointed out that an existing legislation has frozen borrowers’ obligations worth 18 billion euros.

Original Story: Tornos News