Europe is finally losing patience with its NPLs. Despite years of talk, 10% of the banks under the European Central Bank’s supervision still have NPL ratios of more than 10%, while €893 billion of NPLs still sit on European bank balance sheets.
The ECB’s surprise announcement in early October that it was to issue addendum guidelines on NPL provisioning triggered an ill-tempered row in Brussels that illustrates just how little tolerance is left at many banks’ persistent failure to deal with the problem.
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