January 23, 2018 / 8:49 AM / a month ago

Banks should continue to cut bad loans at current pace - France's Le Maire

BRUSSELS, Jan 23 (Reuters) - France’s Finance Minister Bruno Le Maire praised on Tuesday Italy’s efforts in cutting bad loans and said banks should continue reducing soured debt in their balance sheets at the current pace.

“We have to continue at the same pace. If we can go faster it is better, but we have to take into account what has already been done,” Le Maire said on arriving for a meeting of European Union finance ministers in Brussels that will discuss the issue of non-performing loans (NPLs). (Reporting by Francesco Guarascio; editing by Philip Blenkinsop)

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