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MNI BRIEF: Italian NPLs To Jump In 2023, Visco Warns

(MNI) ROME

Italy's banking system is ready to absorb an expected rise in NPLs, Bank of Italy Governor Ignazio Visco says.

Italian banks’ non-perfoming loans could “grow significantly” in 2023 based on the most recent macroeconomic scenarios from the Bank of Italy, but the system should be able to absorb the shock, Governor Ignazio Visco said in a speech on Monday.

The governor asked banks to “review promptly” the scenarios used to classify loans and recognize losses without delay.

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Italian banks’ non-perfoming loans could “grow significantly” in 2023 based on the most recent macroeconomic scenarios from the Bank of Italy, but the system should be able to absorb the shock, Governor Ignazio Visco said in a speech on Monday.

The governor asked banks to “review promptly” the scenarios used to classify loans and recognize losses without delay.

Keep reading...Show less