BANKING SECTOR

The SSM will ask from banks to set up ambitious plans for the reduction of their NPE stock after 2019. Accordingly, banks will be asked to reduce their stock to below 20% of loans by 2021 (euro2day says to 15-17%), and possibly reach single digit rates by the end of 2022. Recall that the target for 2019 which is indeed ambitious, calls for the reduction of NPEs to EUR 64.6bn (from EUR 92.4bn - 48.5% in 1Q18) or 35.2% of total loans.  

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