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Recovering Slovenian banks cut bad loans to 8.2 pct of total
March 8, 2017 / 4:32 PM / 9 months ago

Recovering Slovenian banks cut bad loans to 8.2 pct of total

LJUBLJANA, March 8 (Reuters) - Slovenian banks cut non-performing loans to 8.2 percent of all loans at the end of 2016 from 11.4 percent a year before, the central bank said on Wednesday, four years after the weight of bad debts brought some local banks to the brink of collapse.

The bad loans amounted to 3.4 billion euros ($3.59 billion)at the end of 2016, down from 3.7 billion euros at the end of September 2016 and 4.8 billion in December 2015, the Bank of Slovenia said in a report using European Banking Authority methodology.

In 2013, the previous government poured more than 3 billion euros into local banks to prevent them collapsing under bad loans which represented about a fifth of all loans. That action meant Slovenia narrowly averted an international bailout.

Some of the largest banks are still state-owned and the government controls about 45 percent of the banking sector.

A number of foreign banks operate in Slovenia, including France’s Societe Generale, Italy’s Unicredit and Intesa Sanpaolo, Russia’s Sberbank and Austria’s Sparkasse and Addiko Bank.

$1 = 0.9480 euros Reporting By Marja Novak; Editing by Edmund Blair

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