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Financials

Piraeus bank to securitise about 7 bln eur in NPEs this year

AΘΗΝΑ, Feb 3 (Reuters) - Greek lender Piraeus Bank , the country’s largest lender by assets, said on Monday it plans to securitise roughly 7n billion euros of non performing exposures (NPEs) in 2020.

Greek banks have been working to reduce a pile of sour credit of more than 70 billion euros ($77.32 billion), the legacy of a financial crisis that shrank the country’s economy by a quarter.

The bank said it aims at reducing its NPE ratio to 15% of its total loan book in 2022, from 49% last year.

Reporting by Lefteris Papadimas and Angeliki Koutantou; Editing by Renee Maltezou

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