March 15, 2017 / 9:44 AM / in 5 months

Greek banks must tackle bad loads, target strategic defaulters - source

ATHENS, March 15 (Reuters) - Greek banks must address their high load of bad loans to be able to fully fund the economy and strategic defaulters should be "the first to be targeted" in this effort, a source familiar with the situation said on Wednesday.

"Repossession of collateral would raise awareness that banks are taking action," the source said.

The source, who spoke on condition of anonymity, said there was "no reason to change" targets for the so called non-performing exposures (NPEs), which include loans past due more than 90 days (NPLs) and restructured credit likely to turn bad.

"They are medium-term targets. The beginning of the year was a bit disappointing," the source said.

Reporting by George Georgiopoulos; Writing by Karolina Tagaris

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