Banks in EU periphery lose most on soured loans
Irish, Spanish, Italian banks also have to wait longest to recover loaned funds to borrowers in default
Banks in Cyprus, Greece, Ireland and Italy recover less from defaulted borrowers and have to wait longer for recompense than the average European Union lender.
The European Banking Authority (EBA) published country-by-country and EU-wide benchmarks for loan recovery rates – the amount collected from counterparties after they’ve welched on repayments – as well as the time to recovery and judicial cost to recovery, in a new report. Benchmarks were drawn up for six borrower categories: corporate
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