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REPEAT: ECB Sees Further Need to Address Non-Performing Loans 

Repeats Story Initially Transmitted at 08:14 GMT Oct 23/04:14 EST Oct 23
By Christian Vits
     FRANKFURT (MNI) - The European Central Bank said Monday that it still sees
the need to address problems resulting from non-performing loans in the European
banking sector.
     "The legacy of the [financial] crisis is still visible in structural
deficiencies," the ECB said in its report on financial structures. 
     "Although the median nonperforming loan (NPL) ratio continued to decline in
2016, NPLs remain persistently high in a number of countries and have increased
further in some cases. This highlights the need to further address the problem
in order to free up bank capital, facilitate credit growth and support economic
recovery," the bank noted.
     The profitability of the euro area banking sector remained "relatively low"
in 2016 as structural inefficiencies continued to hamper profitability in many
countries, according to the report.
     The median cost/income ratio remained relatively stable at 58% in 2016,
"indicating only limited progress in the effort to improve cost efficiency."
     Overall, the ECB sees "ongoing consolidation" in the euro area banking
sector and throughout the EU as a whole.
     While cost/income ratios also rose in Germany and France, the biggest
increases were in Italy, Cyprus, Austria and Slovakia. By contrast, banks in
Finland, Greece, Latvia, Lithuania and Portugal experienced the greatest
efficiency improvements. These were in part attributable to significant
consolidation efforts in some of these countries, the ECB said.
     --MNI Frankfurt Bureau; +49 69 97782671; email:
christian.vits@marketnews.com
--MNI Frankfurt Bureau; +49 69 97782671; email: christian.vits@marketnews.com
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