Bank of Greece (BoG) Gov. Yiannis Stournaras has citing significant challenges that the country’s banking sector will face in the short-term period, as cited in the six-month “Financial Stability Review: December 2021”.
At the same time, progress is ascertained by systemic groups up until now, although bank managements must still show concern and attention to possible risks.
According to Stournaras, a strong recovery in Greece economic activity this year, in tandem with a looser monetary and fiscal policy followed in order to deflect Covid-19 pandemic repercussions, contributed to a distinct boost in conditions for liquidity.
At the same time, Greece’s central banker and former finance minister warns of a possible worsening of profitability and NPLs.
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