Italy is one of the European
countries that has done best in reducing the amount of
non-performing loans in its banking sector, according to a
report released by the European Commission on Thursday based on
ECB data.
It said NPLs were down 24.6% in Italy in the second quarter
of 2017 compared to the same period in 2016.
Only Slovenia did better, registering a 30.4% reduction.
The number of non-performing loans on the balance sheets of
many banks caused a series of crises in the Italian banking
sector that required rescues involving public money.
"Italy has reduced its NPLs by a quarter," said Valdis
Dombrovskis, European Commission Vice-President for Financial
Stability, Financial Services and Capital Markets Union.
"The problem has not been resolved and that is why we have
prepared this report and we are thinking of further measures for
the future.
"But we are making significant progress".
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