Italian banks lead EU on cutting soured loans

Italian lenders made the most progress across Europe in reducing non-performing loans (NPLs) over the six months to June 2018, European Banking Authority data shows.

Of the five European Union banks that shed the most bad loans out of the 130 covered by the EBA’s biennial transparency exercise, the top three were all Italian. 

Intesa Sanpaolo cut €12.6 billion ($14.3 billion) of NPLs in the first half of 2018, shrinking its ratio of soured loans to total loans to 8.05%, from 10.37% at end

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